Filing Flows › Octave Specialty Group (OSG) › Q1 2025
Octave Specialty Group (OSG) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 12, 2025
Octave Specialty Group (OSG) reported revenue of $62.8M for the first quarter 2025 (Q1 2025), +27% from a year earlier. Operating margin was -24.1%, net loss $14.5M (23.1% of revenue).
Octave Specialty Group, Q1 2025: revenue $62.8M (+27% year over year), operating margin -24.1%, net loss $14.5M, operating cash flow −$12.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $62.8M | — | +27% |
| Operating profit | −$15.1M | — | — |
| Net earnings | −$14.5M | — | — |
| Operating cash flow | −$12.6M | — | — |
What changed
Revenue was $62.8M in Q1 2025, up 27% year over year. Managing General Agency Underwriter was the largest line at 65% of revenue. Managing General Agency Underwriter added $23.1M year over year (up 129%), 175% of the total change. Corporate Segment and Other Operating Segment declined 73%.
Operating costs exceeded revenue by $15.1M, an operating margin of -24.1%. Total costs grew 47% against revenue growth of 27%. The fastest-growing cost line was General & admin (+119%). The quarter ended with a net loss of $14.5M.
Operating cash flow was −$12.6M. Non-cash charges added back $9.2M of depreciation and amortization and $2.3M of share-based compensation. Working capital and other items used $9.6M.
Questions
What was Octave Specialty Group's revenue in the first quarter 2025?
Octave Specialty Group (OSG) reported revenue of $62.8M for the first quarter 2025 (Q1 2025), +27% from a year earlier.
Was Octave Specialty Group profitable in the first quarter 2025?
Operating loss was $15.1M (-24.1% of revenue) and net loss $14.5M.