OSG (Octave Specialty Group, Inc.) Stock Financials & Earnings | Market Cap Arena

OSG (Octave Specialty Group, Inc.) Stock Financials & Earnings | Market Cap Arena

OSGOctave Specialty Group, Inc.

Mkt Cap$255M

Financial Services·Insurance - Specialty·🇺🇸 United States·NYSE

Revenue (TTM)$251M

Net Income (TTM)-$253M

EPS (TTM)-$5.94

Free Cash Flow (TTM)-$8M

Gross Margin81.2%

Op. Margin-40.2%

Net Margin-100.9%

FCF Margin-3.3%

P/S Ratio (TTM)1.0x

P/E Ratio (TTM)—

YoY Rev Growth+194.1%

Employees—

Earnings Reports

Revenue & Profitability

Quarter	Revenue	Gross Profit	Op. Income
Q1 23	$57M	$30M	-$29M
Q2 23	$61M	$47M	-$12M
Q3 23	$72M	$138M	$66M
Q4 23	$73M	$42M	-$16M
Q1 24	$50M	$16M	-$3M
Q2 24	$51M	$15M	-$15M
Q3 24	$70M	$34M	-$21M
Q4 24	-$85M	-$125M	-$61M
Q1 25	$63M	$38M	-$15M
Q2 25	$55M	$33M	-$23M
Q3 25	$67M	$38M	-$32M
Q4 25	$67M	$96M	-$31M

Valuation

Quarter	P/S	P/E
Q1 23	0.7x	0.5x
Q2 23	0.6x	0.5x
Q3 23	0.7x	1.3x
Q4 23	1.0x	51.1x
Q1 24	1.0x	4.5x
Q2 24	1.0x	3.7x
Q3 24	1.0x	—
Q4 24	3.0x	—
Q1 25	2.6x	—
Q2 25	2.5x	—
Q3 25	2.6x	—
Q4 25	1.0x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q1 23	$77M	$77M
Q2 23	$24M	$24M
Q3 23	$11M	$18M
Q4 23	$88M	$88M
Q1 24	$18M	$18M
Q2 24	$14M	$14M
Q3 24	$49M	$49M
Q4 24	-$27M	-$27M
Q1 25	$31M	$31M
Q2 25	$2M	$2M
Q3 25	-$41M	-$41M
Q4 25	-$666K	-$666K

Capital Expenditures

CapEx

Quarter	CapEx
Q1 23	$0
Q2 23	$0
Q3 23	$7M
Q4 23	$0
Q1 24	$0
Q2 24	$0
Q3 24	$0
Q4 24	$0
Q1 25	$0
Q2 25	$0
Q3 25	$0
Q4 25	$0

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q1 23	-52.5%	-25.9%
Q2 23	+110.3%	+217.4%
Q3 23	-10.0%	+102.3%
Q4 23	-62.6%	+323.8%
Q1 24	-13.1%	-38.6%
Q2 24	-16.3%	-9.9%
Q3 24	-2.8%	+1412.7%
Q4 24	-216.7%	-127.3%
Q1 25	+26.6%	+47.5%
Q2 25	+7.7%	+18.5%
Q3 25	-4.9%	+8.7%
Q4 25	+178.5%	+501.6%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q1 23	$3M	5.3%
Q2 23	$0	0.0%
Q3 23	$4M	5.6%
Q4 23	$5M	6.8%
Q1 24	-$463K	-0.9%
Q2 24	$2M	3.6%
Q3 24	$4M	5.3%
Q4 24	$3M	—
Q1 25	$2M	3.7%
Q2 25	$0	0.0%
Q3 25	$0	0.0%
Q4 25	$3M	4.2%

OpEx Breakdown

Quarter	G&A
Q1 23	$36M
Q2 23	$36M
Q3 23	$49M
Q4 23	$34M
Q1 24	$18M
Q2 24	$28M
Q3 24	$44M
Q1 25	$39M
Q2 25	$41M
Q3 25	$54M
Q4 25	$59M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 23	$38M	$1.9B	$1.9B
Q2 23	$33M	$1.9B	$1.9B
Q3 23	$33M	$2.0B	$2.0B
Q4 23	$19M	$336M	$355M
Q1 24	$33M	$2.2B	$2.2B
Q2 24	$24M	$2.0B	$2.0B
Q3 24	$54M	$2.1B	$2.2B
Q4 24	$47M	$285M	$332M
Q1 25	$52M	$0	$52M
Q2 25	$46M	$264M	$310M
Q3 25	$52M	$0	$52M
Q4 25	$68M	$0	$68M

Shares Outstanding

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change
Q1 23	46M	-1.1%
Q2 23	46M	+0.4%
Q3 23	47M	+2.3%
Q4 23	46M	-2.6%
Q1 24	46M	+1.7%
Q2 24	46M	-0.3%
Q3 24	48M	+3.2%
Q4 24	48M	+0.9%
Q1 25	47M	-1.7%
Q2 25	48M	+1.7%
Q3 25	48M	-0.0%
Q4 25	45M	-6.2%

Revenue Per Employee

Revenue / Employee

Year	Revenue/Employee	Employees
FY 14	$2M	175
FY 15	$4M	158
FY 16	$4M	141
FY 17	$5M	113
FY 18	$5M	102
FY 19	$5M	93
FY 20	$1M	115
FY 21	$2M	122
FY 22	$370K	145
FY 23	$742K	168
FY 24	$1M	195
FY 25	$914K	275