+2%

est. 2Y upside i

HealthcareIPO

Rank

#3879

Sector

Life and Health Insurance

Est. Liquidity

~0Y

Data Quality

Data: High

Oscar Health, a healthcare technology company, exhibits strong revenue growth (~27% YoY) in a large market, but faces significant challenges including unprofitability (net loss of $443.2M in 2025) and intense competition from dominant incumbents.

Last updated: March 10, 2026

Bull (15%)+75%

Oscar Health achieves sustained profitability by leveraging its technology platform to drive strong member retention and expand into new markets, exceeding revenue growth expectations and justifying a valuation of over $7 billion.

Base (50%)+10%

Oscar Health maintains its market position with moderate membership growth and gradual improvements in profitability, leading to a slight increase in valuation to around $4.5 billion, in line with current market sentiment.

Bear (35%)-40%

Intense competition from dominant incumbents and challenges with ACA marketplace enrollment lead to slowing growth and continued losses, resulting in a valuation decline to under $2.5 billion, significantly impacting common stock value.

Est. time to liquidity~0.0 years

Preference Stack Risk

severe

Funding Intensity

91%

Investors hold $3.7 billion in liquidation preferences, which is 90.24% of the current $4.1 billion valuation, significantly ahead of common stock.

Dilution Risk

moderate

As a public company, dilution primarily comes from ongoing stock-based compensation and potential future equity raises if profitability targets are not met.

Secondary Liquidity

active

As a publicly traded company (NYSE: OSCR), employees have active secondary liquidity for vested shares.

View all 6 open roles at Hioscar →

Last updated: February 18, 2026

Questions to Ask at the Interview

Strategic questions based on Hioscar's data — designed to show you've done your homework.

  • 1

    “Given the high incumbent threat from companies like UnitedHealth and Elevance Health, how does Oscar plan to differentiate its technology platform and achieve sustainable market share growth?”

  • 2

    “Oscar reported a net loss in 2025 despite strong revenue growth. What are the key levers the company is focusing on to achieve consistent profitability and improve its gross margins?”

  • 3

    “With $3.7 billion in total funding against a $4.1 billion valuation, how does Oscar communicate the long-term equity value potential to employees, especially given the current market valuation and the preference stack?”

Community

Valuation Sentiment

Our model estimates +2% upside. What do you think?

Anonymous. Do not share material non-public information.

Community Discussion

Comments are reviewed before they appear publicly.

0/2000

Loading comments...

Disclaimer: This analysis is AI-generated and does not constitute financial or career advice. Always conduct your own due diligence.