Oscar Health, Inc.
For the period ended Sep 30, 2026. Filed Nov 5, 2026.
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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.
Sep 30, 2026 · Filed Nov 5, 2026
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
| Nine Months Ended September 30, | ||
|---|---|---|
| (in thousands) | 2026 | 2025 |
| Cash Flows from Operating Activities: | ||
| Net income (loss) | $1,208,155 | $(90,469) |
| Adjustments to reconcile net income (loss) to net cash provided by operating activities: | ||
| Stock-based compensation expense | 58,914 | 69,569 |
| Depreciation and amortization expense | 19,592 | 21,012 |
| Change in provision for credit losses | 11,905 | (24,020) |
| Amortization of debt issuance costs | 3,339 | 774 |
| Net accretion of investments | (22,975) | (23,066) |
| Deferred taxes | (4,313) | (175) |
| Net realized gain on sale of financial instruments | (1,907) | (1,302) |
| Changes in assets and liabilities: | ||
| (Increase) / decrease in: | ||
| Accounts receivable | 47,474 | (54,402) |
| Reinsurance recoverable | (170,893) | 132,146 |
| Receivables from CMS | (57,764) | (78,240) |
| Other assets | (21,608) | (29,759) |
| Increase / (decrease) in: | ||
| Payables to CMS | 1,895,959 | 266,501 |
| Benefits payable | 468,691 | 207,665 |
| Accounts payable and other liabilities | 83,847 | 58,061 |
| Unearned premiums | (5,811) | 2,727 |
| Reinsurance payable | (1,868) | (34,071) |
| Net cash provided by operating activities | 3,510,737 | 422,951 |
| Cash Flows from Investing Activities: | ||
| Maturity and paydowns of investments | 1,614,749 | 478,173 |
| Sale of investments | 1,149,495 | 134,231 |
| Change in restricted deposits | 211 | 3,225 |
| Purchase of investments | (4,578,517) | (780,673) |
| Purchase of property, equipment, and capitalized software | (31,864) | (27,310) |
| Net cash used in investing activities | (1,845,926) | (192,354) |
| Cash Flows from Financing Activities: | ||
| Proceeds from exercise of stock options and stock purchase agreement | 41,828 | 42,192 |
| Tax payments related to net settlement of share-based awards | (11,920) | (4,035) |
| Payments of debt issuance costs | (5,990) | (22,677) |
| Earn-out liability payout | (3,370) | — |
| Proceeds from long-term debt | — | 410,000 |
| Purchase of capped calls related to convertible notes | — | (34,440) |
| Net cash provided by financing activities | 20,548 | 391,040 |
| Increase in cash, cash equivalents and restricted cash equivalents | 1,685,359 | 621,637 |
| Cash, cash equivalents, restricted cash and cash equivalents—beginning of period | 2,804,123 | 1,551,118 |
| Cash, cash equivalents, restricted cash and cash equivalents—end of period | 4,489,482 | 2,172,755 |
| Cash and cash equivalents | 4,466,858 | 2,148,865 |
| Restricted cash and cash equivalents included in restricted deposits | 22,624 | 23,890 |
| Total cash, cash equivalents and restricted cash and cash equivalents | $4,489,482 | $2,172,755 |
| Supplemental Disclosures: | ||
| Interest payments | $10,612 | $11,515 |
| Income tax payments | $1,438 | $17,497 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.