Photo via Oscar

Oscar, the health insurance startup that just raised $375 million in new funding from Google parent Alphabet, on Wednesday disclosed that it generated a $5 million profit on $363 million in net revenue during the first half of 2018.

Bottom line: The revenue figure is around 3 times what Oscar generated for the first half of 2017, although the profit is expected to disappear later this year as patients spend through their deductibles.

The company, which is required to file financial data with state health regulators, also reported that it had 231,000 members at the end of June, compared to just 85,000 one year earlier.

It still believes it will generate over $1 billion in gross premium revenue for 2018 ($630 million in the first half) and have a medical loss ratio in the mid-80s (it's currently at 74%, which is a 17 point year-over-year improvement).

Per a company spokesman: "This year, Oscar’s focus has been to scale our consumer-focused, technology-driven approach to cover more members, in more markets. After doubling our market footprint, our financial results for the first half of 2018 prove that our business is trending in-line with expectations."

Go deeper: Behind Oscar's financial numbers.

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Roger Marshall wins Kansas Republican Senate nomination in Kansas primary

Rep. Roger Marshall. Photo: Mark Reinstein/Corbis via Getty Images

Rep. Roger Marshall won the Kansas Republican Senate primary on Tuesday evening, beating former Secretary of State Kris Kobach and a slew of other candidates, AP reports.

Why it matters: Following GOP Sen. Pat Roberts' retirement announcement, some Republicans worry that if Kobach won the primary it would endanger the party's chances of keeping the seat and maintaining a majority in the Senate.

Updated 1 hour ago - Politics & Policy

Primary races to watch in Arizona, Kansas, Michigan, Missouri, Washington

Photo: Michael B. Thomas/Getty Images

Primary elections on Tuesday in fives states see crowded fields of both Republicans and Democrats hoping to make the ballot in 2020.

What to watch: Rep. Rashida Tlaib (D-Mich.) is "fighting for her political life" in a tight primary race against Detroit City Council President Brenda Jones, who Tlaib beat by 900 votes in 2018, The New York Times writes. Senate Republicans are also watching the primary race in Kansas to see who could replace retiring Republican Sen. Pat Roberts.

Updated 2 hours ago - Politics & Policy

Coronavirus dashboard

Illustration: Sarah Grillo/Axios

  1. Global: Total confirmed cases as of 8:30 p.m. ET: 18,448,084 — Total deaths: 698,023 — Total recoveries — 11,048,174Map.
  2. U.S.: Total confirmed cases as of 8:30 p.m. ET: 4,765,170 — Total deaths: 156,668 — Total recoveries: 1,528,979 — Total tests: 57,543,852Map.
  3. States: New York City health commissioner resigns in protest of De Blasio's coronavirus response — Local governments go to war over schools.
  4. Public health: 59% of Americans support nationwide 2-week stay-at-home order in NPR poll.
  5. Politics: Trump's national security adviser returns to work after coronavirus recovery Republicans push to expand small business loan program.
  6. Sports: Indy 500 to be held without fansRafael Nadal opts out of U.S. Open.