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Oscar Health (OSCR) earnings and revenue breakdown
Latest: Q3 2026 · 10-Q filed Nov 5, 2026 · Oscar Health (OSCR) Q3 2026 earnings results →
Q3 2026 Revenue up 72% year over year to $5.1B · 3¢ of every $1 of revenue kept as net profit · operating margin 3.5%
Oscar Health made $5.1B in Q3 2026 (+72% Y/Y). Operating margin 3.5%, net earnings $167M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Nov 5, 2026.
Drawing the Sankey…
Open the interactive Sankey → click any line for what the company wrote about it, compare Y/Y and Q/Q, export as PNG or PDF
What changed this quarter
Revenue was $5.1B in Q3 2026, up 72% year over year and up 5% from the previous quarter.
Operating profit was $0.18B, a 3.5% margin (up 7.8 points year over year). Total costs grew 59% against revenue growth of 72%. The fastest-growing cost line was Other operating costs (+63%). Net earnings were $0.17B. The effective tax rate was 4.6%.
Operating cash flow was −$1.2B. Non-cash charges added back $0.01B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items used $1.4B. Capital expenditures of $0.01B exceeded it, leaving free cash flow of −$1.2B.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q3 2026 | 10-Q | Nov 5, 2026 | $5.1B | +72% | 3.5% | $167M | −$1.2B |
| Q2 2026 | 10-Q | Aug 7, 2026 | $4.9B | +70% | 8.0% | $362M | $2.1B |
| Q1 2026 | 10-Q | May 7, 2026 | $4.6B | +53% | 15.2% | $679M | $2.6B |
| Q4 2025 | 10-K | Feb 13, 2026 | $2.8B | +17% | -11.9% | −$352M | $672M |
| Q3 2025 | 10-Q | Nov 6, 2025 | $3.0B | +23% | -4.3% | −$137M | −$965M |
| Q2 2025 | 10-Q | Aug 7, 2025 | $2.9B | +29% | -8.0% | −$228M | $509M |
| Q1 2025 | 10-Q | May 8, 2025 | $3.0B | +42% | 9.8% | $276M | $879M |
Charts
Interactive views
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💵Where each $1 goesinteractive
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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🔍Earnings qualityinteractive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
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About Oscar Health
Oscar is a leading healthcare technology company built around a full stack technology platform and a relentless focus on member experience. We offer health plans through the ACA serving individuals, families, and employees. We have been challenging the status quo in the healthcare system since our founding in 2012 and are dedicated to making a healthier life accessible and affordable for all. Our technology drives superior experiences, deep engagement, and high-value clinical care, earning us the trust of approximately 2.0 million effectuated members, as of December 31, 2025. Effectuated members are those who are actively enrolled in our plan and have either paid their premium or are within the grace period.
In its own words, from its 10-K, filed Feb 13, 2026.
Oscar Health against its Hospital & Medical Service Plans peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: +72% against the peers' median +6%. Operating margin: 3.5% against the peers' median 1.0%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| OSCR Oscar Health | Q3 2026 | $5.1B | +72% | 3.5% |
| UNH UnitedHealth Group | Q3 2026 | $112.7B | -0.4% | 5.8% |
| CI Cigna | Q3 2026 | $73.7B | +6% | 3.3% |
| ELV Elevance Health | Q3 2026 | $51.4B | +1% | 2.5% |
| CNC Centene | Q3 2026 | $50.6B | +2% | -0.6% |
| HUM Humana | Q3 2026 | $41.2B | +26% | 0.2% |
| MOH Molina Healthcare | Q3 2026 | $11.1B | -3% | 1.0% |
| ALHC Alignment Healthcare | Q3 2026 | $1.4B | +37% | -0.3% |
| CLOV Clover Health Investments | Q3 2026 | $759M | +53% | 0.8% |
Source: Oscar Health 10-Q on SEC EDGAR · CIK 1568651 · Hospital & Medical Service Plans
Guidance and outlook
13F: who owns OSCR and who is buying
More on OSCR
History
Every quarter: Q3 2026 results · Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results