Oscar Health (OSCR) financial statements
Oscar Health reported revenue of $29M in fiscal 2025, down 37.7% a year over 6 years.
Net income was -$443M and the operating margin -1386.2%, against -53.1% in 2019.
Free cash flow was $1.1B.
The diluted share count rose 811% over the period (dilution).
Revenue and free cash flow
Fiscal years, $ billions.
Income statement
Fiscal years, from Oscar Health's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Revenue | $488M | $0 | $5M | $65M | $21M | $21M | $29M |
| Selling, general and admin | $111M | $167M | $265M | $1.3B | $1.4B | $1.8B | $2.0B |
| Operating income | -$259M | -$402M | -$544M | -$590M | -$236M | $57M | -$396M |
| Interest expense | $0 | $4M | $5M | $23M | $25M | $24M | $18M |
| Pre-tax income | -$259M | -$406M | -$571M | -$610M | -$267M | $33M | -$437M |
| Income tax | $2M | $1M | $846,000 | -$523,000 | $3M | $7M | $6M |
| Net income | -$261M | -$407M | -$573M | -$606M | -$271M | $25M | -$443M |
| EPS (diluted) | -$9.06 | -$14.16 | -$3.20 | -$2.85 | -$1.22 | $0.10 | -$1.69 |
| Diluted shares | 29M | 29M | 179M | 212M | 222M | 266M | 262M |
| Operating margin | -53.1% | — | -10094.2% | -908.5% | -1103.4% | 278.3% | -1386.2% |
| Net margin | -53.5% | — | -10615.6% | -933.8% | -1267.9% | 123.6% | -1549.9% |
Balance sheet
Fiscal years, from Oscar Health's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Cash and short-term investments | $337M | $1.2B | $1.7B | $3.0B | $2.6B | $2.2B | $4.0B |
| Receivables | — | — | — | — | — | — | $363M |
| Total current assets | — | $1.9B | $2.3B | $4.1B | $3.1B | $2.8B | $4.6B |
| Property, plant and equipment | — | $36M | $47M | $60M | $62M | $67M | $88M |
| Total assets | — | $2.3B | $3.3B | $4.5B | $3.6B | $4.8B | $6.3B |
| Total current liabilities | — | $1.7B | $1.9B | $3.3B | $2.4B | $3.5B | $4.9B |
| Long-term debt | — | $142M | $0 | $298M | $299M | $300M | $430M |
| Total liabilities | — | $1.8B | $1.9B | $3.6B | $2.8B | $3.8B | $5.3B |
| Shareholders' equity | -$945M | -$1.3B | $1.4B | $890M | $804M | $1.0B | $978M |
| Net debt | -$337M | -$684M | -$1.1B | -$1.3B | -$1.6B | -$1.2B | -$2.3B |
Cash flow
Fiscal years, from Oscar Health's 10-K filings with the SEC.
| Fiscal year | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|
| Operating cash flow | -$165M | $223M | -$182M | $380M | -$272M | $978M | $1.1B |
| Capital spending | $26M | $14M | $26M | $29M | $26M | $28M | $36M |
| Free cash flow | -$191M | $209M | -$208M | $351M | -$298M | $950M | $1.1B |
| Stock-based compensation | $34M | $36M | $86M | $112M | $160M | $110M | $88M |
| Share buybacks (net) | -$3M | $0 | $0 | — | — | — | — |
| Net borrowing | — | $147M | -$153M | $305M | $0 | $0 | $410M |
| Free cash flow margin | -39.2% | — | -3849.3% | 541.1% | -1394.4% | 4618.5% | 3701.9% |
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Open OSCR in InvestinglyQuestions
What was Oscar Health's revenue in 2025?
$29M in fiscal 2025, from its 10-K filing.
How much free cash flow does Oscar Health generate?
$1.1B in fiscal 2025 (operating cash flow minus capital spending).
From Oscar Health's annual reports filed with the SEC (XBRL data), standardised by Investingly. Information only, not investment advice.