Filing Flows › Oscar Health (OSCR) › Q1 2026
Oscar Health (OSCR) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 7, 2026
Oscar Health (OSCR) reported revenue of $4.6B for the first quarter 2026 (Q1 2026), +53% from a year earlier and +66% from the quarter before. Operating margin was 15.2%, net earnings $679M (14.6% of revenue).
Oscar Health, Q1 2026: revenue $4.6B (+53% year over year), operating margin 15.2%, net earnings $679M, operating cash flow $2.6B. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $4.6B | +66% | +53% |
| Operating profit | $704M | — | +137% |
| Net earnings | $679M | — | +146% |
| Operating cash flow | $2.6B | +290% | +198% |
| Free cash flow | $2.6B | +294% | +200% |
What changed
Revenue was $4.6B in Q1 2026, up 53% year over year and up 66% from the previous quarter.
Operating profit was $0.70B, a 15.2% margin (up 5.4 points year over year). Of the extra revenue versus Q1 2025, 25% reached operating profit, above the 10% margin then. Total costs grew 43% against revenue growth of 53%. The fastest-growing cost line was SG&A (+46%). Net earnings were $0.68B, up 147% year over year. The effective tax rate was 2.8%.
Operating cash flow was $2.6B (up 198% year over year), 386% of net earnings. Non-cash charges added back $0.01B of depreciation and amortization and $0.02B of share-based compensation. Working capital and other items added $1.9B. Capital expenditures of $0.01B left free cash flow of $2.6B.
Questions
What was Oscar Health's revenue in the first quarter 2026?
Oscar Health (OSCR) reported revenue of $4.6B for the first quarter 2026 (Q1 2026), +53% from a year earlier and +66% from the quarter before.
Was Oscar Health profitable in the first quarter 2026?
Operating profit was $704M (15.2% of revenue) and net earnings $679M.
Source: Oscar Health 10-Q on SEC EDGAR.