logo
Twitter
Discord
Email
logo
Oscar Health, Inc.

Oscar Health, Inc.

NYSE•OSCR
CEO: Mr. Mark Thomas Bertolini
Sector: Healthcare
Industry: Medical - Healthcare Plans
Listing Date: 2021-03-03
Oscar Health, Inc. operates as a health insurance in the United States. The company offers health plans in individual and small group markets, as well as +Oscar, a technology driven platform that help providers and payors directly enable their shift to value-based care. It also provides reinsurance products. The company was formerly known as Mulberry Health Inc. and changed its name to Oscar Health, Inc. in January 2021. Oscar Health, Inc. was incorporated in 2012 and is headquartered in New York, New York.
Contact Information
75 Varick Street, 5th Floor, New York, NY, 10013, United States
646-403-3677
www.hioscar.com
Market Cap
$4.24B
P/E (TTM)
-17.4
46.8
Dividend Yield
--
52W High
$23.80
52W Low
$11.20
52W Range
43%
Rank60Top 78.6%
2.5
F-Score
Modified Piotroski Analysis
Based on 6-year fundamentals
Weak • 2.5 / 9 points
Scoring Range (0-9)
8-9: Excellent Value
6-7: Strong Fundamentals
4-5: Average Quality
0-3: Weak Performance
Data Period: 2019-2024

Financial Dashboard

Q3 2025 Data

Revenue

$2.99B+23.21%
4-Quarter Trend

EPS

-$0.53+140.91%
4-Quarter Trend

FCF

-$973.67M+91.78%
4-Quarter Trend

2025 Q3 Earnings Highlights

Key Highlights

Revenue Growth Strong Total revenue reached $8.90 B for nine months 2025, marking a 31.1% increase over prior year period.
Cash Reserves Increased Total cash, cash equivalents, and restricted cash grew substantially to $2.17 B by September 30, 2025.
New Debt Issued Issued $410.0 M aggregate principal 2030 Convertible Senior Subordinated Notes in September 2025 to fund growth.
SG&A Efficiency Improved SG&A expense ratio decreased 170 basis points to 17.3% for the nine months ended September 30, 2025.

Risk Factors

Medical Cost Ratio Spiked Medical loss ratio increased 5.3 points to 84.8% for nine months 2025, driven by higher morbidity.
Operating Performance Declined Swung to $62.61 M operating loss for nine months 2025 compared to $205.00 M profit in 2024.
APTC Subsidy Uncertainty Enhanced APTCs expire end of 2025; non-renewal or unfavorable changes could negatively impact future membership.
Risk Adjustment Estimation Risk Risk adjustment transfer estimates increased significantly based on July 2025 data, requiring increased accruals.

Outlook

Managing Membership Growth Strategy focuses on retaining and expanding member base while navigating evolving ACA eligibility verification rules.
Convertible Notes Conversion Holders may elect to convert 2031 Notes in Q4 2025 after the stock price condition was satisfied.
Capital Deployment Strategy Subsidiaries may request capital distributions from Parent to fund operations efficiently if statutory surplus exceeds requirements.
Cost Trend Management Management continues to focus on accurately estimating medical expenses and controlling administrative costs going forward.

Peer Comparison

Revenue (TTM)

Oscar Health, Inc.OSCR
$11.29B
+37.4%
Bausch + Lomb CorporationBLCO
$4.97B
+6.1%
Alignment Healthcare, Inc.ALHC
$3.64B
+47.4%

Gross Margin (Latest Quarter)

PTC Therapeutics, Inc.PTCT
92.5%
-2.0pp
Alkermes plcALKS
86.9%
+3.6pp
Arcellx, Inc.ACLX
78.6%
-16.9pp

Key Metrics

Symbol
Market Cap
P/E (TTM)
ROE (TTM)
Debt to Assets
ARWR$9.69B-65.7-41.2%51.7%
GKOS$6.25B-70.9-11.4%10.4%
PTCT$6.07B7.9-182.7%15.5%

Long-Term Trends

Last 4 Quarters
Revenue
Net Income
Operating Cash Flow
4Q Revenue CAGR
7.7%
Steady Growth
4Q Net Income CAGR
N/M
Profitability Shift
Cash Flow Stability
75%
Volatile Cash Flow

Research & Insights

Next earnings:Feb 3, 2026
|
EPS:-$0.84
|
Revenue:$3.11B
Reports
All Years

  • Form 10-Q - Q3 2025

    Period End: Sep 30, 2025|Filed: Nov 6, 2025|
    Revenue: $2.99B+23.2%
    |
    EPS: $-0.53+140.9%
    Beat

  • Form 10-Q - Q2 2025

    Period End: Jun 30, 2025|Filed: Aug 7, 2025|
    Revenue: $2.86B+29.0%
    |
    EPS: $-0.89-470.8%
    Miss

  • Form 10-Q - Q1 2025

    Period End: Mar 31, 2025|Filed: May 8, 2025|
    Revenue: $3.05B+42.2%
    |
    EPS: $1.10+42.9%
    Beat

  • Form 10-K - FY 2024

    Period End: Dec 31, 2024|Filed: Feb 20, 2025|
    Revenue: $9.18B+56.5%
    |
    EPS: $0.11+109.0%
    Beat

  • Form 10-Q - Q3 2024

    Period End: Sep 30, 2024|Filed: Nov 7, 2024|
    Revenue: $2.42B+68.3%
    |
    EPS: $-0.22-24.1%
    Miss

  • Form 10-Q - Q2 2024

    Period End: Jun 30, 2024|Filed: Aug 7, 2024|
    Revenue: $2.22B+45.8%
    |
    EPS: $0.24-439.0%
    Beat

  • Form 10-Q - Q1 2024

    Period End: Mar 31, 2024|Filed: May 7, 2024|
    Revenue: $2.14B+45.8%
    |
    EPS: $0.77-527.8%
    Beat

  • Form 10-K - FY 2023

    Period End: Dec 31, 2023|Filed: Feb 15, 2024|
    Revenue: $5.86B+42.1%
    |
    EPS: $-1.22+57.5%
    Miss