diff --git a/scripts/__tests__/version-utils-test.js b/scripts/__tests__/version-utils-test.js
new file mode 100644
index 00000000000..ce7f2372345
--- /dev/null
+++ b/scripts/__tests__/version-utils-test.js
@@ -0,0 +1,39 @@
+/**
+ * Copyright (c) Facebook, Inc. and its affiliates.
+ *
+ * This source code is licensed under the MIT license found in the
+ * LICENSE file in the root directory of this source tree.
+ *
+ * @format
+ */
+
+const {parseVersion} = require('../version-utils');
+
+describe('version-utils', () => {
+  describe('parseVersion', () => {
+    it('should throw error if invalid match', () => {
+      function testInvalidVersion() {
+        parseVersion('<invalid version>');
+      }
+      expect(testInvalidVersion).toThrowErrorMatchingInlineSnapshot(
+        `"You must pass a correctly formatted version; couldn't parse <invalid version>"`,
+      );
+    });
+
+    it('should parse pre-release version with .', () => {
+      const {major, minor, patch, prerelease} = parseVersion('0.66.0-rc.4');
+      expect(major).toBe('0');
+      expect(minor).toBe('66');
+      expect(patch).toBe('0');
+      expect(prerelease).toBe('rc.4');
+    });
+
+    it('should parse stable version', () => {
+      const {major, minor, patch, prerelease} = parseVersion('0.66.0');
+      expect(major).toBe('0');
+      expect(minor).toBe('66');
+      expect(patch).toBe('0');
+      expect(prerelease).toBeUndefined();
+    });
+  });
+});
diff --git a/scripts/bump-oss-version.js b/scripts/bump-oss-version.js
index 6550726ed89..7109f8b08a7 100755
--- a/scripts/bump-oss-version.js
+++ b/scripts/bump-oss-version.js
@@ -19,6 +19,7 @@
 const fs = require('fs');
 const {cat, echo, exec, exit, sed} = require('shelljs');
 const yargs = require('yargs');
+const {parseVersion} = require('./version-utils');
 
 let argv = yargs
   .option('r', {
@@ -70,15 +71,16 @@ if (!nightlyBuild) {
   }
 }
 
-// Generate version files to detect mismatches between JS and native.
-let match = version.match(/^(\d+)\.(\d+)\.(\d+)(?:-(.+))?$/);
-if (!match) {
-  echo(
-    `You must pass a correctly formatted version; couldn't parse ${version}`,
-  );
+let major,
+  minor,
+  patch,
+  prerelease = -1;
+try {
+  ({major, minor, patch, prerelease} = parseVersion(version));
+} catch (e) {
+  echo(e.message);
   exit(1);
 }
-let [, major, minor, patch, prerelease] = match;
 
 fs.writeFileSync(
   'ReactAndroid/src/main/java/com/facebook/react/modules/systeminfo/ReactNativeVersion.java',
@@ -220,7 +222,7 @@ if (!nightlyBuild) {
   exec(`git push ${remote} v${version}`);
 
   // Tag latest if doing stable release
-  if (version.indexOf('rc') === -1) {
+  if (prerelease == null) {
     exec('git tag -d latest');
     exec(`git push ${remote} :latest`);
     exec('git tag latest');
diff --git a/scripts/version-utils.js b/scripts/version-utils.js
new file mode 100644
index 00000000000..a2d0d6342de
--- /dev/null
+++ b/scripts/version-utils.js
@@ -0,0 +1,28 @@
+/**
+ * Copyright (c) Facebook, Inc. and its affiliates.
+ *
+ * This source code is licensed under the MIT license found in the
+ * LICENSE file in the root directory of this source tree.
+ *
+ * @format
+ */
+
+function parseVersion(version) {
+  const match = version.match(/^(\d+)\.(\d+)\.(\d+)(?:-(.+))?$/);
+  if (!match) {
+    throw new Error(
+      `You must pass a correctly formatted version; couldn't parse ${version}`,
+    );
+  }
+  const [, major, minor, patch, prerelease] = match;
+  return {
+    major,
+    minor,
+    patch,
+    prerelease,
+  };
+}
+
+module.exports = {
+  parseVersion,
+};