The health insurer now expects 2026 earnings from operations of $850 million to $950 million, up from its previous range of $600 million to $800 million. It raised its revenue forecast to $19 billion to $19.3 billion, from $18.7 billion to $19 billion. Analysts had expected $18.5 billion in revenue.

For the quarter, Oscar posted earnings of 49 cents a share, compared with a loss of 53 cents a share in the year-earlier period. Analysts surveyed by FactSet had forecast a 14-cent loss. Revenue climbed to $5.14 billion from $2.99 billion, topping analysts’ $4.7 billion estimate. The company attributed the increase to rate hikes and membership growth, as well as a $250 million benefit from updated risk adjustment estimates.

Oscar’s medical loss ratio, which measures the share of premiums spent on medical claims, fell to 84% from 88.5% a year earlier. The company said disciplined pricing helped; analysts had expected 85.5%. Its selling, general and administrative expense ratio declined to 14% from 17.5%.

Membership reached 2.7 million as of Sept. 30, a 27% increase from 2.1 million a year earlier. Chief Executive Mark Bertolini said Oscar was on track to deliver strong results a year ahead of plan and to meet its long-term targets, including earnings of at least $4 a share by 2029. He also cited an opportunity to expand the Affordable Care Act into a competitive marketplace that improves affordability and supports a resilient economy.