Oscar Health reports before the market opens on Thursday 5 November. The analysts' average EPS estimate for the quarter is −$0.17, and the average revenue estimate is $4.7 billion. The report will test whether the 42.8% revenue growth the company has shown over the trailing twelve months to Q2 2026 carries into the next quarter.
Source: reported quarterly EPS and aggregated third-party estimates. Historical surprises are context, not a forecast.
View chart data
| Period | Reported EPS | Analysts' estimate |
|---|---|---|
| Sep '25 | −$0.53 | −$0.58 |
| Dec '25 | −$1.24 | −$0.92 |
| Mar '26 | $2.07 | $1.10 |
| Jun '26 | $1.10 | $0.38 |
What analysts expect from Oscar Health
For the quarter, the analysts' average EPS estimate is −$0.17, with a range from −$0.40 to $0.07. The full-year EPS estimate is $1.94, which would be up 215.0% on last year based on 10 analysts. That estimate has risen 82.8% over the past 90 days. Of the recommendations on file, 3 are positive, 7 neutral and 1 negative.
Earnings surprise model
Our model estimates EPS could land above the analysts' average estimate by 24.2%. Its estimated chance of an EPS beat is 62.5%, based on the last 4 quarters. The model shrinks the median recent surprise toward zero and uses a neutral prior for beat frequency; this small sample is a reference estimate, not company guidance.
Oscar Health's record against estimates
Oscar Health reported EPS above the analysts' average estimate in 3 of the last 4 quarters. Last quarter, EPS of $1.10 compared with an estimate of $0.38, above it by 189.2%.
The operating margin of 4.1% is above every past reading in the company's own record, which ran from −86.9% to 1.7%
Revenue over the twelve months to Q2 2026 was $15.3 billion, up 42.8% on the year before. That growth rate was up 10.9 percentage points on the rate a quarter earlier, meaning the pace of expansion is rising rather than fading.
The trailing operating margin is 4.1%, up 5.3 percentage points from a year earlier. That puts it above every past reading in the company's history, which have ranged from −86.9% to 1.7%. The trailing net margin is 3.6%, and net income over the twelve months was $550.7 million.
On cash, operating cash flow over the twelve months was $4.4 billion, up 258.0% on the year before. Capital spending was $38.6 million, or 0.3% of revenue, so free cash flow came to $4.4 billion, up 264.5%. The free-cash-flow margin of 28.6% is higher than 91% of the company's own past quarterly readings, which have ranged from −11.3% to 56.1%. One mechanical offset: the average diluted share count rose 12.1% over the year, which dilutes the per-share effect of that cash.
Questions this report will answer
The report will answer whether the pick-up in revenue growth continues, whether results land above or below the analysts' expectations set out above, and whether margins hold at the trailing levels described here.
What Oscar Health's share price implies against our model
In our model, growth 5 percentage points lower would lower the value by 23.4%, and growth 5 percentage points higher would raise it by 29.9%. A free-cash-flow margin 1 percentage point lower would lower it by 3.4%.
