NASDAQ: OCTV
Octave Intelligence plcCIK 0002083632 · Information Technology · SIC 7372 · Prepackaged Software
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Octave Intelligence spins off from Hexagon with $625M debt load, ineffective controls
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Octave Intelligence completes $625M debt-funded spin-off from Hexagon AB
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Octave Intelligence spinoff from Hexagon AB cleared by SEC, distribution set for May 22
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Latest financial statements
From 10-Q filed Jun 4, 2026 (period ending Mar 31, 2026). SEC XBRL (companyfacts) — not generated by the model.
Consolidated Statements of Operations (Unaudited)
| Description | Q1 ended Mar 31, 2026 | Q1 ended Mar 31, 2025 |
|---|---|---|
| Revenue: | ||
| Total revenue / net sales | 386.5 | 382.8 |
| Cost of revenue / cost of sales | 88.8 | 99.6 |
| Gross profit | 297.7 | 283.2 |
| Operating expenses: | ||
| Sales and marketing | 96.5 | 88.6 |
| Research and development | 47.5 | 43.4 |
| General and administrative | 42.6 | 36.4 |
| Total operating expenses | 234.0 | 209.3 |
| Operating income | 63.6 | 73.9 |
| Other income/(expense), net | 0.3 | 0.6 |
| Income before income taxes | 64.0 | 74.5 |
| Income tax expense/(benefit) | 16.6 | 15.0 |
| Net income | 47.4 | 59.5 |
| Basic earnings per share | 0.18 | 0.22 |
| Diluted earnings per share | 0.18 | 0.22 |
Consolidated Balance Sheets (Unaudited)
| Description | Mar 31, 2026 | Dec 31, 2025 |
|---|---|---|
| Current assets: | ||
| Cash and equivalents | 175.5 | 156.1 |
| Prepaid expenses and other current assets | 101.4 | 100.0 |
| Other current assets | 345.9 | 400.7 |
| Total current assets | 622.7 | 656.8 |
| Property, plant and equipment, net | 53.9 | 54.6 |
| Operating lease right-of-use assets, net | 47.0 | 50.6 |
| Finite-lived intangible assets, net | 1,154 | 1,168 |
| Identifiable intangible assets, net | 1,635 | 1,649 |
| Goodwill | 6,216 | 6,221 |
| Deferred income taxes and other assets | 29.8 | 29.9 |
| Other long-term assets | (1,125) | (1,135) |
| TOTAL ASSETS | 8,634 | 8,696 |
| Current liabilities: | ||
| Accounts payable | 32.5 | 48.8 |
| Current portion of operating lease liabilities | 14.6 | 15.7 |
| Accrued liabilities | 48.9 | 55.2 |
| Income taxes payable | 12.2 | 18.9 |
| Deferred revenue, current | 415.4 | 380.6 |
| Other current liabilities | 110.2 | 133.7 |
| Total current liabilities | 633.8 | 652.9 |
| Operating lease liabilities | 34.7 | 36.8 |
| Deferred income taxes and other liabilities | 268.5 | 269.2 |
| Other long-term liabilities | 36.2 | 59.8 |
| Total liabilities | 973.2 | 1,019 |
| Shareholders' equity: | ||
| Accumulated other comprehensive income (loss) | (79.6) | (71.9) |
| Total shareholders' equity | 7,661 | 7,678 |
| TOTAL LIABILITIES AND SHAREHOLDERS' EQUITY | 8,634 | 8,696 |
Consolidated Statements of Cash Flows (Unaudited)
| Description | Q1 ended Mar 31, 2026 | Q1 ended Mar 31, 2025 |
|---|---|---|
| Operating Activities: | ||
| Net cash from operating activities | 115.4 | 125.5 |
| Investing Activities: | ||
| Net cash from investing activities | (33.1) | (45.6) |
| Financing Activities: | ||
| Net cash from financing activities | (60.8) | (75.1) |
| Net increase/(decrease) in cash | 19.4 | 7.4 |
Amounts in millions USD; EPS as reported. Line labels are presentation-friendly mappings of filer XBRL tags — not a re-audit of the full statements. Use EDGAR for interactive notes and detail. Interactive statements & notes on EDGAR ↗