Oscar Health Inc

Our primary operating cash flow sources are premiums and investment income. Our primary operating cash flow uses are payments for claims, risk adjustment transfers, and operating expenses, including interest expense. For the nine months ended September 30, 2024, net cash provided by operating activities was $631.4 million as compared with $569.0 million used in operating activities for the same period in 2023. The increase was primarily due to higher premiums received, which were partially offset by higher claim disbursements.

Cash flows from investing activities primarily include the purchase and disposition of financial instruments. For the nine months ended September 30, 2024, net cash used in investing activities was $1,356.0 million as compared to net cash provided by investing activities of $404.7 million for the same period in 2023. The change was primarily due to an increase in purchases of securities and a lower level of maturing investment.

Cash flows from financing activities may include proceeds from the issuance of debt securities and proceeds from stock option exercises. For the nine months ended September 30, 2024, net cash provided by financing activities was $64.6 million as compared to $5.4 million for the same period in 2023. The increase was primarily due to proceeds received from the exercise of stock options.