OCTAVE SPECIALTY GROUP INC
For the period ended Sep 30, 2026. Filed Nov 9, 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.
Sep 30, 2026 · Filed Nov 9, 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)
| Nine Months Ended September 30, | ||
|---|---|---|
| (Dollars in thousands) | 2026 | 2025 |
| Cash flows from operating activities: | ||
| Net income (loss) | $(27,877) | $(229,418) |
| Net income (loss) from discontinued operations | — | (163,288) |
| Net income (loss) from continuing operations | (27,877) | (66,130) |
| Adjustments to reconcile net income to net cash provided by (used in) operating activities: | ||
| Intangible amortization and depreciation | 36,792 | 28,663 |
| Share-based compensation | 13,208 | 6,924 |
| Deferred tax provision (benefit) | (7,847) | (8,630) |
| Unearned premiums, net | 13,658 | 2,081 |
| Reinsurance recoverable and loss and loss adjustment expense, net | (33,990) | (45,794) |
| Ceded premiums payable | 19,616 | 34,633 |
| Premium and commissions receivables | (25,250) | (37,961) |
| Commissions payable | 11,761 | 37,886 |
| Contract assets and contract liabilities, net | (14,266) | (14,683) |
| Fiduciary assets and fiduciary liabilities, net | 9,135 | 3,571 |
| Corporate costs reallocated to continuing operations | — | 6,786 |
| Other, net | 4,050 | 1,037 |
| Net cash provided by (used in) operating activities from continuing operations | (1,010) | (51,617) |
| Cash flows from investing activities: | ||
| Purchases of bonds | (46,771) | (24,475) |
| Proceeds from sales of bonds | — | 26,061 |
| Proceeds from matured bonds | 31,105 | 28,602 |
| Proceeds from (purchases of) short-term investments, net | 53,041 | (168,161) |
| Purchases of other investments | (493) | (66) |
| Acquisitions, net of cash acquired | — | 589 |
| Proceeds from sale of subsidiary | — | 407,300 |
| Other, net | (3,805) | (4,479) |
| Net cash provided by (used in) investing activities from continuing operations | 33,077 | 265,371 |
| Cash flows from financing activities: | ||
| Proceeds from long-term debt | 39,089 | — |
| Payments for long-term debt | (2,375) | — |
| Payments for extinguishment of short-term debt | — | (150,000) |
| Payments for purchases of common stock held in treasury | — | (3,301) |
| Tax payments related to shares withheld for share-based compensation plans | (804) | (1,689) |
| Issuance of warrants | — | 17,000 |
| Payments to purchase warrants | (4,855) | — |
| Distributions to noncontrolling interest holders | (7,860) | (1,391) |
| Acquisitions of noncontrolling interest shares | (44,027) | (71,345) |
| Net cash provided by (used in) financing activities from continuing operations | (20,832) | (210,726) |
| Effect of foreign exchange on cash and cash equivalents - continuing operations | (527) | 1,464 |
| Net cash provided by (used in) continuing operations | 10,708 | 4,492 |
| 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 | $79,148 | $51,767 |
| Net cash provided by (used in) operating activities from discontinued operations | — | 71,728 |
| Net cash provided by (used in) investing activities from discontinued operations | — | 69,712 |
| Net cash provided by (used in) financing activities from discontinued operations | — | (143,144) |
| Net cash provided by (used in) discontinued operations | — | (1,704) |
| 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 | $— | $— |
| Cash paid for interest on debt | $8,394 | $19,775 |
| Cash paid for income taxes | $6,013 | $3,889 |
| Octave Specialty Group, Inc. | 7 | Third Quarter 2026 Form 10-Q |
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