Filing Flows › Oscar Health (OSCR) › Q2 2026 › vs Q1 2026
Oscar Health (OSCR) Q2 2026 vs Q1 2026 (quarter over quarter)
Oscar Health's revenue rose $233M (+5%) from $4.6B in Q1 2026 to $4.9B in Q2 2026. Operating margin 8.0% against 15.2% (-7.2 pts).
Oscar Health, Q2 2026: revenue $4.9B (+70% year over year), operating margin 8.0%, net earnings $362M, operating cash flow $2.1B. The chart draws each line against Q1 2026, the increases inside each band.
Margins
| Q2 2026 | Q1 2026 | Change | |
|---|---|---|---|
| Operating margin | 8.0% | 15.2% | -7.2 pts |
| Net margin | 7.4% | 14.6% | -7.2 pts |
| Free cash flow margin | 42.6% | 56.2% | -13.5 pts |
Every line
| Line | Q2 2026 | Q1 2026 | Change | % |
|---|---|---|---|---|
| Revenue | $4.9B | $4.6B | $233M | +5% |
| Operating profit | $389M | $704M | −$315M | -45% |
| Costs & expenses | $4.5B | $3.9B | $548M | +14% |
| Pre-tax earnings | $383M | $699M | −$316M | -45% |
| SG&A | $691M | $706M | −$15.2M | -2% |
| Other operating costs | $3.8B | $3.2B | $564M | +17% |
| Net earnings | $362M | $679M | −$317M | -47% |
| Income tax | $21.2M | $19.8M | $1.4M | +7% |
| Depreciation & amortization | $6.0M | $7.0M | −$987K | -14% |
| Share-based compensation | $20.7M | $16.0M | $4.7M | +29% |
| Working capital & other | $1.7B | $1.9B | −$213M | -11% |
| Operating cash flow | $2.1B | $2.6B | −$527M | -20% |
| Free cash flow (OCF − capex) | $2.1B | $2.6B | −$530M | -20% |
| Capital expenditures | $11.8M | $8.8M | $3.0M | +34% |
Questions
How much did Oscar Health's revenue grow quarter over quarter in Q2 2026?
Oscar Health's revenue rose $233M (+5%) from $4.6B in Q1 2026 to $4.9B in Q2 2026. Operating margin 8.0% against 15.2% (-7.2 pts).