← Research LibraryThe BriefFY2025 10-K · headline figures audited against SEC data
Oscar Health grew revenue 27.5% to $11.70B on ACA membership, but a higher medical loss ratio turned 2024's first profit into a $0.44B loss
The read at a glance✓ Audited against SEC data
- Growth — Revenue up 27.5% to $11.70B; members 2,042,449OK
- Profitability — Net loss $0.44B; medical loss ratio 81.7% to 87.4%Watch
- Balance sheet — Total debt up 43.6% to $0.43B of convertible notesNote
- Capital allocation — No dividends or buybacks; capital goes to insurance subsidiariesNote
- Policy exposure — 93% of premiums came directly from CMS; enhanced subsidies expiredWatch
Business
Oscar Health, founded in 2012, sells health insurance plans in the ACA individual market and had 2,042,449 effectuated members at the end of 2025, in 18 states for the 2025 policy year and 20 for 2026. It runs on its own technology platform, sells that technology to others through +Oscar, and is building toward ICHRA, where employers fund workers' individual plans. In 2025, 93% of premiums were earned directly from CMS through federal premium tax credits.
Leadership changes
From Oscar Health, Inc.'s own filings, the day they're filed.
- Qualifying Termination · departure
Latest filings
- 8-K · Company announcement2026-09-16
- 10-Q · Quarterly report2026-08-07
- 8-K · Company announcement2026-08-06
- 8-K · Company announcement2026-06-09
- 8-K · Company announcement2026-06-08
In the full recordFree for 14 days
- What changed🔒
- Insider signal🔒
- Growth quality🔒
- Margins & accounting🔒
- Capital allocation🔒
- Real risks🔒
- The long arc🔒
- Company history🔒
- The filings, readable — with what changed vs the prior year highlighted🔒
- Full financial statements, industry-aware, sources cited throughout🔒
- Forensic score history & components — the trend, not one year🔒
- Ownership: insider buys/sells, clusters, activist stakes🔒
- Ana — ask about Oscar Health, Inc., every answer cited to the official filings🔒
Every figure comes from the company's filings, and analysis whose figures don't match SEC data is rejected before publication.
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