Oscar Health Inc.
OSCR evidence brief
What we can confirm
What it means
What to watch
Prepared research question
What matters most for OSCR—catalysts, financial risk and supporting evidence?
Traceable citations · Unknowns marked
BioSniper AI · OSCR
Oscar Health Inc. is a health insurance technology company that reported its first profitable year in 2024, with $4.1 billion in cash and equivalents as of mid-2026, while managing a portfolio of clinical trials and regulatory risks.
Key risk: Litigation and regulatory costs
BioSniper Score
Based on 4 of 6 signals
Financial data as of Jun 30, 2026.
Tracking 3 catalysts for Oscar Health Inc..
Oscar Health Inc. is a health insurance technology company that reported its first profitable year in 2024, with $4.1 billion in cash and equivalents as of mid-2026, while managing a portfolio of clinical trials and regulatory risks.
- Reported total revenue of $4,880.2M and net income of $361.8M for the six months ended June 30, 2026 [sec].
- Cash and equivalents of $4,100.3M as of June 30, 2026, with shareholders' equity of $1,158.4M and total debt of $431.6M [sec].
- Achieved net income attributable to Oscar Health of $25.4M in 2024, compared to a net loss of $270.7M in 2023 [sec · filed 2025-04-25].
- Medical Loss Ratio (MLR) was 81.7% in 2024, essentially flat versus 81.6% in 2023 [sec · filed 2025-04-25].
- Selling, General and Administrative (SG&A) Expense Ratio improved to 19.1% in 2024 from 24.3% in 2023 [sec · filed 2025-04-25].
What works
- Oscar Health turned profitable in 2024, reporting net income of $25.4M after a $270.7M loss in 2023, indicating improved operational efficiency [sec · filed 2025-04-25].
- The SG&A expense ratio fell from 24.3% in 2023 to 19.1% in 2024, showing cost discipline [sec · filed 2025-04-25].
- Cash and equivalents of $4.1B as of June 30, 2026 provide a strong liquidity buffer for growth and claims [sec].
What to weigh
- The Medical Loss Ratio (81.7% in 2024) remained essentially unchanged year-over-year, suggesting limited improvement in claims cost management [sec · filed 2025-04-25].
- The company faces significant litigation, audit, and regulatory risks that could lead to unfavorable outcomes [sec · filed 2025-04-25].
- Oscar Health is subject to data security breach risks and depends on retaining qualified personnel, which could disrupt operations [sec · filed 2025-04-25].
From the filings
Quoted directly from source documents.
Oscar Health achieved profitability in 2024 after a large loss in 2023.
“Net Income (loss) attributable to Oscar Health Inc. | | | $25,432 | | | $(270,728)”
SEC filings · April 25, 2025
The company's SG&A expense ratio improved significantly in 2024.
“Selling, General and Administrative Expense Ratio ("SG&A" Expense Ratio) | | | 19.1% | | | 24.3%”
SEC filings · April 25, 2025
The company faces risks from lawsuits, audits, and investigations.
“unfavorable or otherwise costly outcomes of lawsuits, audits, investigations, and claims that arise from the extensive laws and regulations to which we are subject”
SEC filings · April 25, 2025
Catalyst timeline
- 2027-06-01 · Phase3_Topline — Phase 3 Topline: Phase III Randomised Trial Evaluating Treatment Intensification With Temozolomide in Adults With a G — Topline results from a Phase III trial evaluating temozolomide treatment intensification in adults with a glioma; outcome may affect future treatment protocols.
- 2027-10-01 · Phase3_Topline — Phase 3 Topline: Randomized Trial Comparing Sentinel Node (SN) Policy to Current French Initial Staging Protocols in — Topline results from a Phase III trial comparing sentinel node policy to standard staging protocols; could influence surgical staging guidelines.
- 2031-02-01 · Phase3_Topline · hyperthermic — Phase 3 Topline: Phase III Randomized Clinical Trial Evaluating Hyperthermic Intraperitoneal Chemotherapy (HIPEC) in — Topline results from a Phase III trial evaluating hyperthermic intraperitoneal chemotherapy; may impact treatment standards for peritoneal cancers.
Risks & what to watch (4)›
Key risks
- Litigation and regulatory costs — Unfavorable outcomes from lawsuits, audits, and investigations could materially impact financial results [sec · filed 2025-04-25].
- Data security breaches — Security breaches of information and technology systems could lead to significant costs and reputational harm [sec · filed 2025-04-25].
- Medical loss ratio stagnation — MLR remained flat at ~81.7% in 2024, indicating limited near-term improvement in claims cost control [sec · filed 2025-04-25].
- Internal control deficiencies — Failure to maintain effective internal controls over financial reporting could lead to errors or restatements [sec · filed 2025-04-25].
What to watch
- First quarter 2026 financial results expected before market open on May 6, 2026 [sec · filed 2026-04-21].
- Full year 2026 guidance reaffirmed in April 2026; any updates to guidance will be key [sec · filed 2026-04-21].
- Board leadership changes announced on April 21, 2026, which may signal strategic shifts [sec · filed 2026-04-21].
- Clinical trial catalysts: Phase 3 topline results for temozolomide trial due June 2027 and HIPEC trial due February 2031 [catalyst].
Sources: Catalysts · SEC filings · SEC MD&A · Generated August 29, 2026 · How we verify sources →
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Evidence & data
Score breakdownBased on 4 of 6 signals · derived from public data
No clinical pipeline tracked — this score reflects financial & catalyst signals only.
Profitable (positive operating cash flow)
D/E 4.47 · 10% dilution
No tracked pipeline phase
No tracked pipeline candidates
3 upcoming, next in ~275d
1 buy · 37 sells (180d)
Catalysts
Financials
Institutional Holdings
Source: SEC Form 13F · as of Mar 2026Institutional holders
330
Total value held
$2.09B
| Holder | Shares | Value |
|---|---|---|
| vanguard capital management llc | 21,555,254 | $247.2M |
| blackrock, inc. | 17,309,539 | $198.5M |
| vanguard portfolio management llc | 10,545,848 | $121.0M |
| susquehanna international group, llp | 9,652,604 | $110.7M |
| citadel advisors llc | 7,792,362 | $89.4M |
| american century companies inc | 7,029,356 | $80.6M |
| d. e. shaw & co., inc. | 6,570,785 | $75.4M |
| jane street group, llc | 6,428,205 | $73.7M |
| state street corp | 5,262,372 | $60.4M |
| geode capital management, llc | 5,032,255 | $57.7M |
Showing top 10 of 330 institutional holders of Oscar Health Inc.. Open the full 13F history after sign-in.
Short Interest
as of May 12, 2026- % of float
- 10.7%
- Days to cover
- 3.9
- Shares short
- 26,161,831
- Daily short volume
- -
Short percent of float and days-to-cover reflect reported short positioning. Daily short volume is the exchange-reported short share of a single day's trading volume and is noisier. See the most-shorted biotech ranking →
OSCR short interestGovernance
Frequently asked questions
What is the AI investment thesis for Oscar Health Inc.?
Oscar Health Inc. is a health insurance technology company that reported its first profitable year in 2024, with $4.1 billion in cash and equivalents as of mid-2026, while managing a portfolio of clinical trials and regulatory risks.
What is Oscar Health Inc.'s next catalyst?
Oscar Health Inc.'s next tracked catalyst is a Phase3_Topline event — "Phase 3 Topline: Phase III Randomised Trial Evaluating Treatment Intensification With Temozolomide in Adults With a G" — expected June 1, 2027.
Who is the CEO of Oscar Health Inc.?
Mr. Mark Thomas Bertolini is the chief executive officer of Oscar Health Inc. (OSCR).
Where is Oscar Health Inc. headquartered?
Oscar Health Inc. (OSCR) is headquartered in New York, NY, United States.
The AI overview and BioSniper Score are neutral, data-derived signals built from public SEC filings, ClinicalTrials.gov and FDA records — not investment advice.