Oscar Health Inc
For the period ended Mar 31, 2024. Filed May 7, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2024 · Filed May 7, 2024
OSCR$33.47+4.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Three Months Ended March 31, | ||
|---|---|---|
| (in thousands) | 2024 | 2023 |
| Cash Flows from Operating Activities: | ||
| Net income (loss) | $177,482 | $(39,628) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Deferred taxes | (79) | (183) |
| Net realized loss on sale of financial instruments | — | 43 |
| Depreciation and amortization expense | 7,811 | 4,939 |
| Amortization of debt issuance costs | 194 | 194 |
| Stock-based compensation expense | 25,945 | 71,494 |
| Net accretion of investments | (6,226) | (7,322) |
| Change in provision for credit losses | (1,000) | 8,491 |
| Changes in assets and liabilities: | ||
| (Increase) / decrease in: | ||
| Premiums and accounts receivable | (140,635) | 21,949 |
| Risk adjustment transfer receivable | (10,112) | 1,740 |
| Reinsurance recoverable | (1,741) | 440,652 |
| Other assets | (6,285) | (4,526) |
| Increase / (decrease) in: | ||
| Benefits payable | 282,361 | 16,349 |
| Unearned premiums | (376) | (5,648) |
| Premium deficiency reserve | (1,444) | (14) |
| Accounts payable and other liabilities | 28,473 | 714 |
| Reinsurance payable | 914 | (387,191) |
| Risk adjustment transfer payable | 279,081 | 292,662 |
| Net cash provided by operating activities | 634,363 | 414,715 |
| Cash Flows from Investing Activities: | ||
| Purchase of investments | (556,693) | (202,650) |
| Sale of investments | — | 15,052 |
| Maturity of investments | 261,428 | 330,486 |
| Purchase of property, equipment and capitalized software | (5,950) | (7,379) |
| Change in restricted deposits | 626 | — |
| Net cash (used in) provided by investing activities | (300,589) | 135,509 |
| Cash Flows from Financing Activities: | ||
| Proceeds from joint venture contribution | — | 471 |
| Proceeds from exercise of stock options | 27,309 | 35 |
| Net cash provided by financing activities | 27,309 | 506 |
| Increase in cash, cash equivalents and restricted cash equivalents | 361,083 | 550,730 |
| Cash, cash equivalents, restricted cash and cash equivalents—beginning of period | 1,891,971 | 1,580,497 |
| Cash, cash equivalents, restricted cash and cash equivalents—end of period | 2,253,054 | 2,131,227 |
| Cash and cash equivalents | 2,230,799 | 2,109,571 |
| Restricted cash and cash equivalents included in restricted deposits | 22,255 | 21,656 |
| Total cash, cash equivalents and restricted cash and cash equivalents | $2,253,054 | $2,131,227 |
| Supplemental Disclosures: | ||
| Interest payments | $11,118 | $11,319 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.