Filing Flows › Octave Specialty Group (OSG) › Q4 2025
Octave Specialty Group (OSG) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 4, 2026
Octave Specialty Group (OSG) reported revenue of $66.9M for the fourth quarter 2025 (Q4 2025), +3% from a year earlier and +0.4% from the quarter before. Operating margin was -46.1%, net loss $29.7M (44.4% of revenue).
Octave Specialty Group, Q4 2025: revenue $66.9M (+3% year over year), operating margin -46.1%, net loss $29.7M, operating cash flow −$666K. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $66.9M | +0.4% | +3% |
| Operating profit | −$30.9M | — | — |
| Net earnings | −$29.7M | — | — |
| Operating cash flow | −$666K | — | — |
What changed
Revenue was $66.9M in Q4 2025, up 3% year over year and roughly flat from the previous quarter.
Operating costs exceeded revenue by $30.9M, an operating margin of -46.1%. Total costs grew 13% against revenue growth of 3%. The fastest-growing cost line was General & admin (+45%). The quarter ended with a net loss of $29.7M, narrower than the previous quarter's $30.8M loss. Minority interests bore $2.3M of it: to shareholders the quarter was a loss of $27.4M. Non-operating items added $10.4M, -51% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was −$666K. Non-cash charges added back $13.3M of depreciation and amortization and $2.8M of share-based compensation. Working capital and other items added $12.9M.
Questions
What was Octave Specialty Group's revenue in the fourth quarter 2025?
Octave Specialty Group (OSG) reported revenue of $66.9M for the fourth quarter 2025 (Q4 2025), +3% from a year earlier and +0.4% from the quarter before.
Was Octave Specialty Group profitable in the fourth quarter 2025?
Operating loss was $30.9M (-46.1% of revenue) and net loss $29.7M.