Oscar Health is being priced like an afterthought and performing like a breakout. The Q1 numbers confirm it, the insider trades back it, and the float is moving. This isn’t crowd hype. It’s internal conviction and raw financials that are finally aligning.
The company pulled in $3.05 billion in revenue for Q1 2025. That’s up 42% from the same quarter last year. Net income rose 55% to $275.3 million. EPS for the quarter landed at $0.92. Operating income hit $297.1 million. Adjusted EBITDA came in at $328.8 million. The platform isn’t scaling. It’s sprinting.
Membership is now 2.04 million, up 41% from Q1 2024. SG&A dropped to 15.8%. Medical loss ratio held at 75.4%. Operating margin is pressing above 9.8%. The business is becoming leaner while membership climbs. That’s margin discipline with velocity behind it.
Cash and equivalents are at $2.24 billion. Total liquidity when including investments sits at $4.9 billion. Debt totals just $359 million. Net cash position is $1.88 billion. That’s $7.38 in real money for every share on the board.
Insider action isn’t quiet. Over $14.4 million in net insider buys logged in the past 12 months. Ownership stands at 24.4%. Joshua Kushner and Thrive Partners led the buying. These aren’t token filings. These are positions being built.
Stock trades at $20.45. Forward P/E is 31.2. That’s well under HIMS at 69.8. It’s a fraction of PLTR at 595.3. Oscar’s market cap is $5.2 billion. That’s less than half its 2025 revenue guidance of $11.3 billion.
The EPS growth claim of 610% floating online is inaccurate. Let’s stay clean. Trailing EPS was $0.28. Forward EPS is projected at $0.74. That’s 164% year-over-year. Still rare. Still heavy. But no need to exaggerate when the base case is already strong.
Volume is swelling. Average daily volume hit 20.9 million. Last week alone the price surged from $13.95 to $21.22. That’s a 52% spike. The float is no longer sitting still.
Oscar is priced like a healthcare stock. It’s moving like a tech play. And it’s operating like a cash engine with downside protection and insider commitment. Not a startup. Not a trade. This one’s scaling in real time.
Sources
https://finance.yahoo.com/news/oscar-health-inc-oscr-q1-071107548.html
https://www.marketbeat.com/stocks/NYSE/OSCR/earnings/