For the year ending 2025-12-31, OSCR had $1,253,005K increase in cash & cash equivalents over the period. $1,058,482K in free cash flow.
| Cash Flow | 2025-12-31 | 2024-12-31 | 2023-12-31 | 2022-12-31 |
|---|---|---|---|---|
| Net income (loss) | -442,903 | 26,121 | -270,594 | -609,552 |
| Deferred taxes | 2,449 | -2,338 | 58 | -165 |
| Net realized loss (gain) on sale of financial instruments | 1,339 | 23 | -70 | -1,274 |
| Loss on fair value of warrant liabilities | - | - | 0 | 0 |
| Depreciation and amortization expense | 28,892 | 32,145 | 30,694 | 15,283 |
| Amortization of debt issuance costs | 1,630 | 778 | 778 | 713 |
| Stock-based compensation expense | 87,654 | 109,824 | 159,683 | 112,329 |
| Net accretion of investments | 29,793 | 26,877 | 29,374 | -2,480 |
| Debt extinguishment loss | - | - | 0 | 0 |
| Non-cash inducement payment for convertible note conversion (note 9) | 13,336 | - | - | - |
| Change in provision for credit losses | -24,074 | -300 | 28,612 | - |
| Premiums and accounts receivable | 101,932 | 114,323 | 13,405 | 78,061 |
| Risk adjustment transfer receivable | -8,714 | 12,854 | 2,063 | 9,202 |
| Reinsurance recoverable | -191,787 | 50,343 | -651,693 | 460,897 |
| Other assets | 27,116 | 11,547 | -11,307 | 243 |
| Benefits payable | 98,655 | 390,744 | 28,258 | 424,146 |
| Unearned premiums | 91,814 | 8,472 | -13,080 | 3,953 |
| Premium deficiency reserve | 0 | -5,776 | 1,562 | -25,033 |
| Accounts payable and other liabilities | 205,488 | 152,768 | -29,180 | 57,811 |
| Reinsurance payable | -37,767 | -19,678 | -366,626 | 222,418 |
| Risk adjustment transfer payable | 1,029,359 | 501,400 | -460,552 | 723,095 |
| Net cash (used in) provided by operating activities | 1,094,854 | 978,193 | -272,159 | 380,349 |
| Purchase of investments | 1,013,918 | 2,133,510 | 836,982 | 1,192,706 |
| Sale of investments | 134,231 | 25,250 | 31,857 | 360,616 |
| Maturity and paydowns of investments | 670,724 | 744,794 | 1,410,166 | 633,467 |
| Purchase of property, equipment and capitalized software | 36,372 | 27,897 | 25,577 | 29,012 |
| Debt prepayment | - | - | 0 | 0 |
| Change in restricted deposits | -4,275 | -3,929 | 2,277 | -1,116 |
| Debt extinguishment costs | - | - | 0 | 0 |
| Net cash (used in) provided by investing activities | -241,060 | -1,387,434 | 577,187 | -226,519 |
| Proceeds from ipo, net of underwriting discounts | - | - | 0 | 0 |
| Proceeds from long-term debt | 410,000 | 0 | 0 | 305,000 |
| Offering costs from ipo | - | - | 0 | 0 |
| Payments of debt issuance costs | 22,902 | 0 | 0 | 7,035 |
| Convertible preferred stock and call option issuances | - | - | - | 0 |
| Inducement payment for convertible note conversion | 4,445 | - | - | - |
| Proceeds from exercise of warrants and call options | - | - | 0 | 0 |
| Purchase of capped calls related to convertible notes | 34,440 | - | - | - |
| Proceeds from partial sale of subsidiary to noncontrolling interest | - | - | 0 | 0 |
| Tax payments related to net settlement of share-based awards | 4,035 | - | - | - |
| Proceeds from exercise of stock options | 55,033 | 68,388 | 3,956 | 1,299 |
| Proceeds from joint venture contribution | 0 | 0 | 2,490 | 1,846 |
| Net cash provided by financing activities | 399,211 | 68,388 | 6,446 | 301,110 |
| Increase (decrease) in cash, cash equivalents and restricted cash equivalents | 1,253,005 | -340,853 | 311,474 | 454,940 |
| Cash and cash equivalents at beginning of period | 1,551,118 | 1,891,971 | 1,580,497 | 1,125,557 |
| Cash and cash equivalents at end of period | 2,804,123 | 1,551,118 | 1,891,971 | 1,580,497 |
Oscar Health, Inc. (OSCR)
Oscar Health, Inc. (OSCR)