OCTAVE SPECIALTY GROUP INC
For the period ended Mar 31, 2026. Filed May 6, 2026.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 6, 2026
OSG$5.41+2.7%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Statements of Cash Flows (Unaudited)
| Three Months Ended March 31, | ||
|---|---|---|
| (Dollars in thousands) | 2026 | 2025 |
| Cash flows from operating activities: | ||
| Net income (loss) | $(2,863) | $(44,737) |
| Net income (loss) from discontinued operations | — | (30,247) |
| Net income (loss) from continuing operations | (2,863) | (14,490) |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Intangible amortization and depreciation | 12,214 | 9,176 |
| Share-based compensation | 4,722 | 2,349 |
| Deferred income taxes | (4,664) | (393) |
| Unearned premiums, net | 12,448 | 2,327 |
| Losses and loss expenses, net | (6,496) | (20,876) |
| Ceded premiums payable | 8,587 | 28,356 |
| Premium and commissions receivables | (32,204) | (18,813) |
| Commissions payable | 2,531 | 9,586 |
| Corporate costs reallocated to continuing operations | — | 2,763 |
| Other, net | (4,354) | (12,597) |
| Net cash provided by (used in) operating activities from continuing operations | (10,079) | (12,612) |
| Cash flows from investing activities: | ||
| Proceeds from matured bonds | 11,492 | 8,488 |
| Purchases of bonds | (27,258) | (10,990) |
| Change in short-term investments | 54,169 | 25,972 |
| Other, net | (695) | (2,131) |
| Net cash provided by (used in) investing activities from continuing operations | 37,708 | 21,339 |
| Cash flows from financing activities: | ||
| Payments for purchases of common stock held in treasury | — | (3,122) |
| Payments for long-term debt | (625) | — |
| Tax payments related to shares withheld for share-based compensation plans | (572) | (1,606) |
| Distributions to noncontrolling interest holders | (553) | (708) |
| Acquisitions of noncontrolling interest shares | (383) | — |
| Net cash provided by (used in) financing activities from continuing operations | (2,133) | (5,436) |
| Effect of foreign exchange on cash and cash equivalents - continuing operations | (399) | 1,094 |
| Net cash provided by (used in) continuing operations | 25,097 | 4,385 |
| Cash, cash equivalents, and restricted cash at beginning of period - continuing operations | 68,440 | 47,275 |
| Cash, cash equivalents, and restricted cash at end of period - continuing operations | 93,537 | 51,660 |
| Net cash provided by (used in) operating activities from discontinued operations | — | 43,904 |
| Net cash provided by (used in) investing activities from discontinued operations | — | 13,150 |
| Net cash provided by (used in) financing activities from discontinued operations | — | (48,369) |
| Effect of foreign exchange on cash and cash equivalents - discontinued operations | — | 225 |
| Net cash provided by (used in) discontinued operations | — | 8,910 |
| Cash, cash equivalents, and restricted cash at beginning of period - discontinued operations | — | 66,077 |
| Cash, cash equivalents, and restricted cash at end of period - discontinued operations | $— | $74,987 |
| Cash paid during the period for: | ||
| Interest on debt | $1,999 | $3,819 |
| Income taxes | $1,483 | $1,885 |
| Non-cash investing and financing activities: | ||
| Noncontrolling interests acquired in connection with put / call option exercises | $43,644 | $— |
| Octave Specialty Group, Inc. | 6 | First Quarter 2026 Form 10-Q |
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