Health insurer Oscar Health reported higher revenue in the fourth quarter, but its loss widened as medical costs remained elevated. The company, which went public in 2021, continues to grapple with high utilization of medical services by its plan enrollees.

Oscar's financial results reflect the ongoing challenge of balancing growth with profitability in the competitive health insurance market. While revenue gains suggest increasing membership, the elevated medical costs highlight the pressure on margins. This dynamic is common among insurers as they expand their customer base.

The company has stated it expects to achieve profitability this year, a key milestone for investors. However, the widening loss in the latest quarter underscores the difficulty of managing healthcare expenses while pursuing growth. Oscar's performance will be closely watched as it works toward its profitability target.