Oscar Health, Inc. (OSCR) Q3 2025 10-Q Quarterly Report
Oscar Health, Inc. (OSCR) 10-Q quarterly report for Q3 2025, filed with SEC EDGAR on Nov 6, 2025 for the fiscal period ending Sep 30, 2025. This page provides AI-powered analysis including management discussion & analysis (MD&A), risk factor updates, and key quarterly financial data such as revenue and net income extracted from XBRL.
Oscar Health, Inc. Q3 2025 10-Q Analysis
Management Discussion & Analysis
- • Revenue not specified, no YoY comparison provided in the text
- • Net investment income $53.2M for Q3 2025 vs $50.3M Q3 2024, $153.3M for 9M 2025 vs $143.3M 9M 2024
- • Health insurance subsidiaries investment income $50.6M Q3 2025 vs $47.8M Q3 2024
- • Net cash from operating activities $423.0M 9M 2025 vs $631.4M 9M 2024, decrease due to higher claims and expenses
- • Issued $410M convertible senior subordinated notes due 2030 at 2.25% interest; terminated $115M revolving credit facility on September 18, 2025
Risk Factors
- • New risk from CMS Program Integrity Rules enacted June 25, 2025, causing stricter APTC eligibility verification and shortening open enrollment impacting membership
- • Increased estimate of risk adjustment transfer as of Sept 30, 2025 reflects worsening market morbidity, raising potential capital contribution needs and liquidity pressures
- • Regulatory/legal risk from ongoing litigation City of Columbus v. Kennedy, delaying full effect of Program Integrity Rules and creating enrollment uncertainty through 2026
- • Operational risk from potential renewal of enhanced APTCs late in 2025, requiring rapid system and process changes that could disrupt 2026 open enrollment performance
- • Financial risk due to enhanced APTC renewal uncertainty increasing risk of pricing inaccuracies, margin compression, and potential premium rebating under compressed timelines
Oscar Health, Inc. Q3 2025 Quarterly FinancialsXBRL
Revenue
$9M
▲ +79.6% YoY▲ +35.5% QoQ
Net Income
-$137M
▼ -151.8% YoY▲ +39.8% QoQ
Operating Margin
-1468.6%
▼ -48116bp YoY▲ +207895bp QoQ
Net Margin
-1561.8%
▼ -44732bp YoY▲ +195311bp QoQ
ROE
-13.4%
Total Assets
$5.7B
EPS (Diluted)
$-0.52
▼ -205.9% YoY▲ +30.7% QoQ
Operating Cash Flow
-$965M
▼ -92.9% YoY▼ -289.5% QoQ
Source: XBRL data from Oscar Health, Inc. Q3 2025 10-Q filing on SEC EDGAR. All figures in USD.
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