0001628280-26-040622 | 10-Q | XBRL Viewer

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EMPLOYEE BENEFIT PLANS - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-Based Payment Arrangement [Abstract]
Defined contribution plan costs	$ 7.2	$ 9.4

REVENUE FROM CONTRACTS WITH CUSTOMERS

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

REVENUE FROM CONTRACTS WITH CUSTOMERS

Disaggregation of Revenue

The Company’s revenue based on the timing of revenue recognition is as follows:


	Three Months Ended March 31,
	2026		2025
Recurring revenue (1)	$	279,180	$	258,832
Non-recurring revenue (2)	107,321		123,972
Total revenue	$	386,501	$	382,804

___________________________

(1)Includes monthly subscription licenses, SaaS-based subscriptions and maintenance subscriptions.

(2)Includes perpetual software licenses and services and other revenue.

The Company’s revenue consists of the following revenue streams:


	Three Months Ended March 31,
	2026		2025
Revenue:
Subscription licenses	$	72,362	$	74,167
SaaS	84,669		67,849
Maintenance subscription	122,149		116,816
Subscriptions	279,180		258,832
Licenses	35,125		42,639
Subscriptions and licenses	314,305		301,471
Services and other	72,196		81,333
Total revenue	$	386,501	$	382,804

Revenue by geographic region, based upon the location of the end customer, are as follows:


	Three Months Ended March 31,
	2026		2025
Americas: (1)
United States	$	145,892	$	160,489
Other Americas	41,853		35,911
EMIA (2)	145,520		132,200
APAC (3)	53,236		54,204
Total revenue	$	386,501	$	382,804

___________________________

(1)Americas includes the United States, Canada, and Latin America.

(2)EMIA includes Europe, Middle East, India, and Africa.

(3)APAC includes the Asia-Pacific region, excluding India.

Operations in Ireland, our country of domicile, are not material in all periods presented.

Contract Balances

As of March 31, 2026 and December 31, 2025, the Company's contract assets relate to performance obligations completed in advance of the right to invoice and are included in Prepaids and other current assets in the Condensed Combined Balance Sheets. Contract assets were not material as of March 31, 2026, or December 31, 2025.

Deferred revenue consists of billings made or payments received in advance of revenue recognition from subscriptions and services. The primary changes in the Company’s deferred revenue are due to the performance under the contracts and new billings made or payments received in advance of revenue recognition from service, installation, and support. The satisfaction of performance obligations typically lags behind payments received under revenue recognition from contracts with customers. Deferred revenues are short-term in nature and are generally recognized as revenue within 12 months. As of March 31, 2026 and December 31, 2025, total deferred revenue was $438.3 million and $426.1 million, respectively, and is included within Deferred revenue and Other noncurrent liabilities on the Condensed Combined Balance Sheets.

Changes in the Company’s total deferred revenue balances primarily relates to additional deferrals through new billings and reduced deferrals through revenue recognition.

For the three months ended March 31, 2026, the Company recognized $165.3 million of revenue that was included in the December 31, 2025 Deferred revenue balance. For the three months ended March 31, 2025, the Company recognized $128.7 million of revenue that was included in the December 31, 2024 Deferred revenue balance.

Remaining Performance Obligations

The Company’s contracts with customers include amounts allocated to performance obligations that will be satisfied at a later date. As of March 31, 2026, amounts allocated to these remaining performance obligations are $438.3 million, of which the Company expects to recognize approximately 95% over the next 12 months with the remaining amount thereafter.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	3 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	Mar. 31, 2026
Accounting Policies [Abstract]
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES	SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES The significant accounting policies of the Company are set forth in Note 2, “Summary of Significant Accounting Policies” within the Company’s audited Combined Financial Statements as of December 31, 2025 included in the Information Statement. The Company includes herein certain updates to those policies, when applicable. Recent Accounting Pronouncements The Company considers the applicability and impact of all Accounting Standards Updates (“ASU”) issued by the Financial Accounting Standards Board (“FASB”). ASUs not listed below were assessed and determined to be either not applicable or are expected to have a minimal impact on the Combined Statements of Operations, Combined Balance Sheets and Combined Statements of Cash Flows. In December 2025, the FASB issued ASU No. 2025-11, Interim Reporting (Topic 270): Narrow-Scope Improvements (“ASU 2025-11”). ASU 2025-11 is intended to update the guidance in Topic 270 by improving navigability of the required interim disclosures, clarifying when that guidance is applicable and adding a principle that requires entities to disclose events since the end of the last annual reporting period that have a material impact on the entity. ASU 2025-11 is effective for the Company for interim reporting periods within annual reporting periods beginning after December 15, 2027. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of ASU 2025-11 on its Condensed Combined Financial Statements and related disclosures. In September 2025, the FASB issued ASU No. 2025-06, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software (“ASU 2025-06”). The amendments in ASU 2025-06 remove the concept of development stages and introduce a principles-based model for capitalizing internal-use software costs, including those related to agile and cloud-based development. The guidance also consolidates website development costs under ASC 350-40 and enhances disclosure requirements related to software development activities. ASU 2025-06 is effective for the Company for annual reporting periods beginning after December 15, 2027, and interim periods within those annual periods, and should be applied prospectively, with optional retrospective or modified retrospective transition methods. Early adoption is permitted. The Company is currently evaluating the impact of the adoption of ASU 2025-06 on its Combined Financial Statements and related disclosures. In November 2024, FASB issued ASU No. 2024-03, Income Statements-Reporting Comprehensive Income-Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses ("ASU 2024-03"), which requires enhanced disclosure of income statement expense categories to improve transparency and provide financial statement users with more detailed information about the nature, amount, and timing of expenses impacting financial performance. ASU 2024-03 is effective for the Company for the annual reporting period beginning after December 15, 2026, and interim periods beginning after December 15, 2027. Early adoption is permitted. The amendments in ASU 2024-03 may be adopted either on a prospective basis to financial statements issued for reporting periods after the effective date or on a retrospective basis to all periods presented. The Company is currently evaluating the impact of the adoption of ASU 2024-03; however, other than additional disclosure, the Company does not expect a change to the Combined Financial Statements. Recently Adopted Accounting Standards In July 2025, the FASB issued ASU No. 2025-05, Financial Instruments—Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. This ASU provides entities with a practical expedient to simplify the estimation of expected credit losses for current accounts receivable and current contract assets arising from transactions accounted for under ASC 606 by allowing entities to assume that current conditions as of the balance sheet date will not change over the remaining life of such assets. The Company adopted ASU 2025-05 during the three months ended March 31, 2026. The adoption did not have a material impact on the Company’s Condensed Combined Financial Statements or related disclosures.

INCOME TAXES (Details)	3 Months Ended
INCOME TAXES (Details)	Mar. 31, 2026	Mar. 31, 2025
Income Tax Disclosure [Abstract]
Effective tax rate	26.00%	20.00%

LEASES - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
LEASES - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2026	Mar. 31, 2025
Lessee, Lease, Description [Line Items]
Operating lease, renewal term	5 years
Operating lease expense	$ 4.6	$ 4.8
Minimum
Lessee, Lease, Description [Line Items]
Operating lease, remaining term	1 year
Maximum
Lessee, Lease, Description [Line Items]
Operating lease, remaining term	10 years

REVENUE FROM CONTRACTS WITH CUSTOMER - Narrative (Details) - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Deferred revenue, period for recognition	12 months
Deferred revenue	$ 438.3		$ 426.1
Deferred revenue, revenue recognized	165.3	$ 128.7
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction, Start Date [Axis]: 2026-04-01
Revenue, Remaining Performance Obligation, Expected Timing of Satisfaction [Line Items]
Remaining performance obligation, amount	$ 438.3
Remaining performance obligation, percentage	95.00%
Remaining performance obligation, period	12 months

GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets, Amortization Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Intangible Asset, Goodwill and Other [Abstract]
Cost of subscriptions and licenses	$ 286	$ 285
Amortization of intangible assets	42,993	37,353
Total amortization expense	$ 43,279	$ 37,638

ACQUISITIONS AND DIVESTITURES - Schedule of Contingent Consideration (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Business Combination, Contingent Consideration, Liability [Roll Forward]
Balance as of beginning of period	$ 6,067	$ 61,017
Additions	0	0
Payments	(606)	0
Change in fair value	(2,622)	(1,538)
Balance as of end of period	$ 2,839	$ 59,479

ACQUISITIONS AND DIVESTITURES - Narrative (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($) business	Mar. 31, 2025 USD ($) business	Dec. 31, 2025 USD ($)
Business Combination [Line Items]
Acquisitions, net of cash acquired	$ 0	$ 11,653
Goodwill	$ 6,216,181		$ 6,221,366
2026 Acquisitions
Business Combination [Line Items]
Number of businesses acquired \| business	0
2025 Acquisitions
Business Combination [Line Items]
Number of businesses acquired \| business		1
Acquisitions, net of cash acquired		$ 11,700
Acquired intangible assets		700
Goodwill		11,600
Net tangible liabilities		$ 600

REVENUE FROM CONTRACTS WITH CUSTOMER - Schedule of Timing of Revenue Recognition (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Disaggregation of Revenue [Line Items]
Revenue	$ 386,501	$ 382,804
Recurring revenue
Disaggregation of Revenue [Line Items]
Revenue	279,180	258,832
Non-recurring revenue
Disaggregation of Revenue [Line Items]
Revenue	$ 107,321	$ 123,972

EMPLOYEE BENEFIT PLANS - Schedule of Stock-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 3,482	$ 3,529
Location, Statement of Income, Balance [Axis]: us-gaap:CostOfRevenue
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	314	289
Location, Statement of Income, Balance [Axis]: us-gaap:GeneralAndAdministrativeExpense
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	1,374	1,331
Location, Statement of Income, Balance [Axis]: us-gaap:ResearchAndDevelopmentExpense
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	724	740
Location, Statement of Income, Balance [Axis]: us-gaap:SellingAndMarketingExpense
Share-Based Payment Arrangement, Expensed and Capitalized, Amount [Line Items]
Stock-based compensation expense	$ 1,070	$ 1,169

GOODWILL AND INTANGIBLE ASSETS - Schedule of Intangible Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Definite-life intangibles:
Gross Carrying Amount	$ 2,273,919	$ 2,225,684
Gross Carrying Amount, Capitalized development expenses	1,040,376	921,399
Accumulated Amortization	(1,119,879)	(1,057,510)
Accumulated Amortization, Capitalized development expenses	(659,581)	(546,111)
Net Carrying Amount	1,154,040	1,168,174
Net Carrying Amount, Capitalized development expenses	380,795	375,288
Indefinite-life intangibles:
Gross Carrying Amount	2,755,020	2,706,918
Accumulated Amortization	(1,119,879)	(1,057,510)
Net Carrying Amount	1,635,141	1,649,408
Trademarks
Indefinite-life intangibles:
Indefinite-life intangibles	481,101	481,234
Developed technology
Definite-life intangibles:
Gross Carrying Amount	514,527	574,250
Accumulated Amortization	(216,695)	(266,368)
Net Carrying Amount	297,832	307,882
Indefinite-life intangibles:
Accumulated Amortization	(216,695)	(266,368)
Customer relationships
Definite-life intangibles:
Gross Carrying Amount	651,893	652,028
Accumulated Amortization	(184,335)	(176,158)
Net Carrying Amount	467,558	475,870
Indefinite-life intangibles:
Accumulated Amortization	(184,335)	(176,158)
Other Intangible Assets
Definite-life intangibles:
Gross Carrying Amount	67,123	78,007
Accumulated Amortization	(59,268)	(68,873)
Net Carrying Amount	7,855	9,134
Indefinite-life intangibles:
Accumulated Amortization	$ (59,268)	$ (68,873)

RELATED PARTY TRANSACTIONS (Details) $ in Millions	3 Months Ended
RELATED PARTY TRANSACTIONS (Details) $ in Millions	Mar. 31, 2026 USD ($) member	Mar. 31, 2025 USD ($)
Related Party Transaction [Line Items]
Number of members with board relations \| member	1
Related Party
Related Party Transaction [Line Items]
Sales, marketing, general and administrative \| $	$ 1.7	$ 2.6

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2026
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES The Company is subject to routine legal proceedings, as well as demands, claims and threatened litigation that arise in the normal course of the business. The ultimate outcome of any litigation is often uncertain and unfavorable outcomes could have a negative impact on the results of operations and financial condition. The Company regularly reviews the status of each significant matter and assess its potential financial exposure. If the potential loss from any claim or legal proceeding is considered probable and the amount or the range of loss can be estimated, the Company accrues a liability for the estimated loss. Legal proceedings are subject to uncertainties, and the outcomes are difficult to predict. Because of such uncertainties, accruals are based on the Company’s judgments using the best information available at the time. Actions currently pending are in various stages and no material judgments or decisions have been rendered by hearing boards or courts in connection with such actions. The Company does not believe the outcome of these matters, individually or in the aggregate, will have a material effect on the Condensed Combined Financial Statements.

LEASES - Lease Term and Discount Rate Information (Details)	Mar. 31, 2026	Dec. 31, 2025
Leases [Abstract]
Weighted-average remaining lease term (in years)	6 years 6 months	7 years 2 months 12 days
Weighted-average discount rate	5.10%	4.00%

EARNINGS PER SHARE - Schedule of Earnings Per Share - Basic and Diluted (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Earnings Per Share [Abstract]
Net income	$ 47,381	$ 59,486
Weighted average ordinary shares outstanding - basic (in shares)	268,438	268,438
Weighted average ordinary shares outstanding - diluted (in shares)	268,438	268,438
Earnings per share - basic (in dollars per share)	$ 0.18	$ 0.22
Earnings per share - diluted (in dollars per share)	$ 0.18	$ 0.22

Cover - shares	3 Months Ended
Cover - shares	Mar. 31, 2026	Jun. 01, 2026
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
Document Transition Report	false
Entity File Number	001-43124
Registrant Name	Octave Intelligence plc
Entity Incorporation, State or Country Code	L2
Entity Tax Identification Number	98-1878833
Entity Address, Address Line One	305 Intergraph Way
Entity Address, City or Town	Madison
Entity Address, State or Province	AL
Entity Address, Postal Zip Code	35758
City Area Code	256
Local Phone Number	730-2000
Title of 12(b) Security	Class B Ordinary Shares, $0.01 Par Value
Trading Symbol	OCTV
Security Exchange Name	NASDAQ
Entity Current Reporting Status	No
Entity Interactive Data Current	Yes
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Period Focus	Q1
Document Fiscal Year Focus	2026
Current Fiscal Year End Date	--12-31
Central Index Key	0002083632
Common Class A
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		11,025,000
Common Class B
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		257,412,788

RESTRUCTURING CHARGES (Details) - USD ($) $ in Thousands	3 Months Ended
RESTRUCTURING CHARGES (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Mar. 31, 2025
Restructuring Reserve [Roll Forward]
Balance as of beginning of period	$ 13,775	$ 6,764
Charges	3,727	3,383
Utilization	(11,799)	(3,646)
Balance as of end of period	$ 5,703	$ 6,501

EARNINGS PER SHARE - Narrative (Details) - Subsequent Event	May 22, 2026 $ / shares shares
Hexagon AB
Class of Stock [Line Items]
Nonmonetary transaction, shares issued upon conversion (in shares)	268,437,788
Common Class A
Class of Stock [Line Items]
Common stock, par value (in dollars per share) \| $ / shares	$ 0.01
Common Class A \| Hexagon AB
Class of Stock [Line Items]
Nonmonetary transaction, shares issued upon conversion (in shares)	11,025,000
Common Class B
Class of Stock [Line Items]
Common stock, par value (in dollars per share) \| $ / shares	$ 0.01
Common Class B \| Hexagon AB
Class of Stock [Line Items]
Nonmonetary transaction, shares issued upon conversion (in shares)	257,412,788

OTHER BALANCE SHEET COMPONENTS (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Accounts receivable, net:
Trade receivables	$ 281,457	$ 340,360
Unbilled receivables	85,163	80,741
Allowance for doubtful accounts	(20,745)	(20,415)
Total Accounts receivable, net	345,875	400,686
Prepaids and other current assets:
Prepaid expenses	84,919	82,950
Other current assets	16,439	17,058
Total Prepaids and other current assets	101,358	100,008
Other current liabilities:
Accrued expenses	48,866	55,184
Accrued indirect taxes	12,207	18,904
Restructuring reserve	5,703	13,775
Other current liabilities	4,290	6,419
Total Other current liabilities	$ 71,066	$ 94,282

SUBSEQUENT EVENTS	3 Months Ended
SUBSEQUENT EVENTS	Mar. 31, 2026
Subsequent Events [Abstract]
SUBSEQUENT EVENTS	SUBSEQUENT EVENTS Revolving Credit Facility and Term Loan Facility In connection with the Distribution, on April 27, 2026, the Company entered into a senior unsecured credit facility (the “Credit Agreement”) consisting of (a) a five‑year senior unsecured multi-currency revolving credit facility in an aggregate principal amount of up to $500 million (the “Revolving Credit Facility”) and (b) a four‑year senior unsecured term loan facility (the “Term Loan Facility” and, together with the Revolving Credit Facility, the “Credit Facilities”) consisting of (i) a U.S. dollar-denominated term loan in an amount of up to $350 million and (ii) a euro-denominated term loan in an amount of up to €150 million. Borrowings under the Credit Facilities bear interest, at the Company’s option, at variable rates based on Term Secured Overnight Financing Rate (“SOFR”) or an alternative base rate for loans denominated in U.S. dollars, Euro Interbank Offered Rate (“EURIBOR”) for loans denominated in euro or Daily Simple Sterling Overnight Index Average (“SONIA”) for Revolving Credit Facility loans denominated in pounds sterling, in each case plus an applicable margin. The applicable margin varies based on the Company’s consolidated leverage ratio and ranges from (i) 125 to 175 basis points in the case of Term SOFR loans, EURIBOR loans and Daily Simple SONIA loans and (ii) 25 to 75 basis points in the case of loans bearing interest at the alternative base rate. Under the Credit Agreement, the Company is required to maintain a maximum consolidated leverage ratio as of the end of each fiscal quarter of no more than 3.50 to 1.00. The Company may elect to increase the maximum permitted consolidated leverage ratio to 4.00 to 1.00 for the fiscal quarter during which a material acquisition occurs and for the following three fiscal quarters. The Credit Agreement includes representations and warranties, events of default and affirmative and negative covenants that are customary for similar financings, including, among other things and subject to certain significant exceptions, limitations on liens, indebtedness, mergers and asset sales, as well as customary reporting and compliance obligations. Sale Lease-back Transaction On April 21, 2026, the Company became bound to effect a sale-leaseback transaction pursuant to which it will sell its corporate headquarters located in Madison, Alabama, which serves as Octave’s principal executive offices, for an estimated gross proceeds of $57 million subject to customary closing procedures. Concurrently with the closing of the sale, Octave will enter into a lease agreement with the third-party purchaser that will allow Octave to continue to use a portion of the facility. The accounting treatment for this transaction has not been finalized. Approval of the Spin-off On April 24, 2026, the general meeting of shareholders of Hexagon approved the Distribution of the Octave business into a separate publicly-traded company named Octave Intelligence plc. Transition to a Unified Octave Brand Following the approval of the Distribution on April 24, 2026, management initiated the phase out of legacy brands and transition of the Octave business to a unified Octave brand. As such, the Company performed an assessment of the useful life estimates of all trademarks which have historically been carried as indefinite-life intangible assets in the Condensed Combined Balance Sheets and had a carrying amount of $481.1 million as of March 31, 2026. In completing this assessment, management concluded all trademark assets should no longer be carried as indefinite-life intangible assets, but rather determined each to have a finite useful life. As such, management performed a quantitative impairment test subsequent to such approval which consisted of a comparison of the fair value of the Company’s trademarks with the carrying amount, and in all cases where the carrying amount exceeded its fair value, an impairment loss is expected to be recognized in an amount equal to the excess. For each trademark, after the impairment loss is recognized, the adjusted carrying amount of the intangible asset will be its new accounting basis which will be amortized prospectively over its remaining useful life. While the accounting treatment for this assessment has not been finalized, management expects to record a non-cash impairment charge for substantially all of the carrying amount during the second quarter of this year. Executive Annual Incentive Plan On May 20, 2026, the Compensation Committee approved and adopted the Octave Intelligence plc Executive Annual Incentive Plan (the “Plan”), effective as of January 1, 2026. The Plan provides participants, including the Company’s named executive officers, with the opportunity to earn annual cash incentive awards, as determined by the Compensation Committee. Under the Plan, the Compensation Committee will establish individual target awards (expressed as a percentage of each participant’s annual base salary) and performance goals (which may be based on individual performance and/or Company performance (including a subsidiary, division, other operational unit or administrative department thereof)) for each performance period (generally, the Company’s fiscal year). Awards are contingent upon the achievement of the applicable performance goals established by the Compensation Committee and may be adjusted, reduced or increased in the Compensation Committee’s discretion, subject to the terms of the Plan. The Plan also includes customary provisions regarding termination of employment, clawback provisions and compliance with Section 409A of the Internal Revenue Code of 1986, as amended. Completion of the Spin-off On May 22, 2026, the spin-off was consummated by means of a tax-free pro rata distribution (the Distribution) wherein each Hexagon shareholder of record on May 22, 2026 (the Record Date) received one (1) Octave Class A Ordinary Share for every ten (10) Hexagon Class A Shares and one (1) Octave Class B Ordinary Share for every ten (10) Hexagon Class B Shares held, resulting in the Distribution of 268,437,788 of the Company’s ordinary shares to Hexagon shareholders. In connection with the Distribution, on the Distribution date the Company fully drew the Term Loan Facility and borrowed approximately $120 million and €25 million under the Revolving Credit Facility. The proceeds from the borrowings under the Credit Facilities were used to fund a cash payment of $625 million to Hexagon in connection with the Distribution. Agreements with Hexagon Following the Distribution, Octave is a public company and Hexagon has no continuing ownership interest. For purposes of governing the ongoing relationships between Hexagon and Octave after the Distribution, and to provide for an orderly transition, Hexagon and Octave entered into a Distribution Agreement, Tax Disaffiliation Agreement, Employee Matters Agreement, and Master Transition Services Agreement that outline the terms and conditions of the transactions and provide a framework for our relationship after the transactions.

BACKGROUND AND BASIS OF PRESENTATION (Details) - Subsequent Event - Hexagon AB	May 22, 2026
Common Class A
Conversion of Stock [Line Items]
Nonmonetary transaction, exchange ratio	0.1
Common Class B
Conversion of Stock [Line Items]
Nonmonetary transaction, exchange ratio	0.1

SUBSEQUENT EVENTS (Details)	May 22, 2026 USD ($) shares	May 22, 2026 EUR (€) shares	Apr. 27, 2026 USD ($)	Apr. 21, 2026 USD ($)	Apr. 27, 2026 EUR (€)	Mar. 31, 2026 USD ($)	Dec. 31, 2025 USD ($)
Trademarks
Subsequent Event [Line Items]
Indefinite-life intangibles						$ 481,101,000	$ 481,234,000
Subsequent Event
Subsequent Event [Line Items]
Proceeds from sale leaseback transaction				$ 57,000,000
Subsequent Event \| Hexagon AB
Subsequent Event [Line Items]
Nonmonetary transaction, shares issued upon conversion (in shares) \| shares	268,437,788	268,437,788
Nonmonetary transaction, cash paid to shareholders	$ 625,000,000
Subsequent Event \| Hexagon AB \| Common Class A
Subsequent Event [Line Items]
Nonmonetary transaction, exchange ratio	0.1	0.1
Nonmonetary transaction, shares issued upon conversion (in shares) \| shares	11,025,000	11,025,000
Subsequent Event \| Hexagon AB \| Common Class B
Subsequent Event [Line Items]
Nonmonetary transaction, exchange ratio	0.1	0.1
Nonmonetary transaction, shares issued upon conversion (in shares) \| shares	257,412,788	257,412,788
Subsequent Event \| Commitment Letter \| Line of Credit
Subsequent Event [Line Items]
Leverage ratio, maximum			0.0350		0.0350
Temporary leverage ratio, maximum			0.0400		0.0400
Subsequent Event \| Commitment Letter \| Line of Credit \| Revolving Credit Facility
Subsequent Event [Line Items]
Debt instrument, term			5 years
Maximum borrowing capacity			$ 500,000,000
Proceeds from lines of credit	$ 120,000,000	€ 25,000,000
Subsequent Event \| Commitment Letter \| Line of Credit \| Unsecured Debt
Subsequent Event [Line Items]
Debt instrument, term			4 years
Debt instrument, face amount			$ 350,000,000		€ 150,000,000
Subsequent Event \| Minimum \| Commitment Letter \| Line of Credit \| SOFR, EURIBOR and SONIA
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate			1.25%
Subsequent Event \| Minimum \| Commitment Letter \| Line of Credit \| Base Rate
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate			0.25%
Subsequent Event \| Maximum \| Commitment Letter \| Line of Credit \| SOFR, EURIBOR and SONIA
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate			1.75%
Subsequent Event \| Maximum \| Commitment Letter \| Line of Credit \| Base Rate
Subsequent Event [Line Items]
Debt instrument, basis spread on variable rate			0.75%

Condensed Combined Balance Sheets (Unaudited) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 175,506	$ 156,069
Accounts receivable, net	345,875	400,686
Prepaids and other current assets	101,358	100,008
Total current assets	622,739	656,763
Property and equipment, net	53,864	54,642
Operating lease right-of-use assets	46,997	50,605
Goodwill	6,216,181	6,221,366
Intangible assets, net	1,635,141	1,649,408
Deferred income taxes	29,801	29,903
Other noncurrent assets	29,140	33,564
Total assets	8,633,863	8,696,251
Current liabilities:
Accounts payable	32,507	48,765
Accrued compensation	100,193	113,532
Deferred revenue	415,371	380,612
Operating lease liabilities	14,628	15,683
Other current liabilities	71,066	94,282
Total current liabilities	633,765	652,874
Operating lease liabilities - noncurrent	34,736	36,770
Deferred income taxes	268,496	269,152
Other noncurrent liabilities	36,241	59,820
Total liabilities	973,238	1,018,616
Commitments and contingencies (Note 11)
EQUITY
Net Parent investment	7,740,186	7,749,558
Accumulated other comprehensive loss	(79,561)	(71,923)
Total equity	7,660,625	7,677,635
Total liabilities and equity	$ 8,633,863	$ 8,696,251

Condensed Combined Statements of Comprehensive Income (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Statement of Comprehensive Income [Abstract]
Net income	$ 47,381	$ 59,486
Other comprehensive (loss) income, net of taxes:
Foreign currency translation adjustments	(7,638)	16,181
Total other comprehensive (loss) income, net of taxes	(7,638)	16,181
Comprehensive income	$ 39,743	$ 75,667

INCOME TAXES	3 Months Ended
INCOME TAXES	Mar. 31, 2026
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES Provision for income taxes for interim periods are calculated using an estimate of the annual effective income tax rate for the full year to be applied to the respective interim period, taking into account year-to-date results and projected full year results as well as separate consideration for the effect of significant, infrequent or unusual items. Estimating the Provision for income taxes involves a significant amount of management judgment regarding interpretation of relevant facts and laws in the jurisdictions in which the Company operates. Future changes in applicable laws, projected levels of taxable income and tax planning could change the effective tax rate and tax balances recorded by the Company. In addition, tax authorities periodically review income tax returns filed by the Company and can raise issues regarding its filing positions, timing and amount of income or deductions, and the allocation of income among the jurisdictions in which the Company operates. Changes in any of these estimates could have a material impact on the Company’s provision for income taxes. For the three months ended March 31, 2026, the effective tax rate was 26% compared to 20% for the three months ended March 31, 2025. The difference between the effective tax rate and the statutory tax rate primarily relates to the jurisdictional mix of earnings and effects of cross-border transactions in preparation for the Distribution. In July 2025, Public Law 119-21, commonly referred to as the One Big Beautiful Bill Act (“OBBBA”), was enacted in the United States. The OBBBA introduces several significant changes, including the permanent extension and modification of certain expiring provisions of the Tax Cuts and Jobs Act. The legislation has multiple effective dates, with certain provisions taking effect in tax year 2025 and others phased in through 2027. There were no material impacts of this legislation on the Company's Condensed Combined Financial Statements to date; however, management will continue to evaluate the full impact of these legislative changes as more guidance becomes available. The Company is currently under examination by the Internal Revenue Service (the “IRS”) for the years 2014 through 2020. In May 2026, the Company received draft notices of proposed adjustment (“NOPA”) from the IRS for the years 2019 and 2020, which relate primarily to tax method changes, net operating loss carryback claims, and Base Erosion and Anti-Abuse Tax (BEAT) liability on sales-based royalties. The Company disagrees with the draft NOPAs and has informed the IRS audit team of its intent to contest the draft NOPAs.

GOODWILL AND INTANGIBLE ASSETS - Schedule of Goodwill (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($)
Goodwill [Roll Forward]
Balance as of beginning of period	$ 6,221,366
Acquisitions	0
Foreign currency translation adjustments	(5,185)
Balance as of end of period	$ 6,216,181

BACKGROUND AND BASIS OF PRESENTATION	3 Months Ended
BACKGROUND AND BASIS OF PRESENTATION	Mar. 31, 2026
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BACKGROUND AND BASIS OF PRESENTATION	BACKGROUND AND BASIS OF PRESENTATION Background The accompanying unaudited Condensed Combined Financial Statements and notes present the combined results of operations, financial position and cash flows of the Asset Lifecycle Intelligence (“ALI”), Safety, Infrastructure & Geospatial (“SIG”), ETQ and Bricsys businesses (collectively, “Octave” or the “Company”) of Hexagon AB (“Hexagon” or “Parent”). Octave provides a suite of software solutions that help organizations design, build, operate, and protect their physical assets, people and critical infrastructure. These workflow environments often involve different teams, specialized tools, and large volumes of information that are difficult to integrate or interpret without context. When data is organized into separate systems or isolated workflows, decision making slows down, quality issues are harder to identify, and teams may miss early signs of risk or system failure. The Company’s platform connects data, events, and workflows across these environments and applies context-aware intelligence to help customers understand what is happening, what may happen next, and how actions in one area affect conditions in another. By providing a clearer picture of current and emerging conditions, Octave’s software helps optimize the performance and reliability of the systems that teams depend on so they can act quicker and reduce risk. Octave refers to its suite of software solutions collectively as its platform, noting that different components of the software architecture are at various stages of technical integration and interoperability. On March 4, 2025, Hexagon announced that its board of directors had directed management to prepare for the spin-off of the Octave business into an independent, publicly-traded company through a tax-free, from both a U.S federal income and Swedish tax perspective, pro rata distribution of all the outstanding share capital of Octave to Hexagon shareholders via a Lex-ASEA distribution. On April 24, 2026, the general meeting of shareholders of Hexagon approved the Distribution of the Octave business into a separate publicly-traded company named Octave Intelligence plc. On May 22, 2026, the spin-off was consummated by means of a tax-free pro rata distribution (the “Distribution”) wherein each Hexagon shareholder of record on May 22, 2026 (the “Record Date”) received one (1) Octave Class A Ordinary Share for every ten (10) Hexagon Class A Shares and one (1) Octave Class B Ordinary Share for every ten (10) Hexagon Class B Shares held. Octave Class A Ordinary Shares were delivered to holders of Hexagon Class A Shares, Octave Class B Ordinary Shares were delivered to holders of Hexagon Class B Shares, other than affiliates of Hexagon, in the form of Swedish Depository Receipts (the “Octave SDRs”), and Octave Class B Ordinary Shares were delivered to holders of Hexagon Class B Shares that are Hexagon affiliates in book-entry form via Octave’s transfer agent. Following the Distribution, the Company commenced “regular way” trading as an independent public company whereby Octave Class B Ordinary Shares were listed under the ticker symbol “OCTV” on the Nasdaq Global Select Market and the Octave SDRs were listed under the ticker symbol “OCTV SDB” on Nasdaq Stockholm. Following the Distribution, Hexagon does not beneficially own any Octave ordinary shares. Basis of Presentation These Condensed Combined Financial Statements have been derived from the consolidated financial statements and accounting records of Hexagon. These Condensed Combined Financial Statements reflect the combined historical results of operations, financial position and cash flows of the Company for the periods presented as historically operated within Hexagon in conformity with generally accepted accounting principles in the United States (“U.S. GAAP”). The Condensed Combined Financial Statements may not be indicative of the Company’s future performance and do not necessarily reflect what the financial position, results of operations, and cash flows would have been had it operated as an independent company during the periods presented. These Condensed Combined Financial Statements have been prepared on the same basis as the annual Combined Financial Statements for the three years ended December 31, 2025 included in the Information Statement attached as Exhibit 99.1 to Octave’s Current Report on Form 8-K filed with the Securities and Exchange Commission (“SEC”) on May 12, 2026 (the “Information Statement”) and, in the opinion of management, reflect all adjustments, which include only normal recurring adjustments, necessary for a fair statement of the results of operations for the periods presented. The December 31, 2025 Condensed Combined Balance Sheet included herein is derived from the audited Combined Financial Statements included in the Information Statement. The results of operations for the three months ended March 31, 2026 are not necessarily indicative of the results expected for the remainder of the fiscal year. These unaudited Condensed Combined Financial Statements and accompanying Notes should be read in conjunction with the audited Combined Financial Statements and accompanying Notes for the year ended December 31, 2025 included in the Information Statement. All intracompany transactions have been eliminated. All significant intercompany transactions between Octave and Parent have been included in these Condensed Combined Financial Statements. For those transactions between the Company and Parent that are historically settled in cash, the Company has reflected such balances in the Condensed Combined Balance Sheets as due from related parties or due to related parties. The total net effect of the settlement of intercompany transactions not historically settled in cash are reflected in the Condensed Combined Statements of Cash Flows as a financing activity and in the Condensed Combined Balance Sheets as Net Parent investment, with the difference between the amounts presented in the Condensed Combined Statements of Equity and the Condensed Combined Statements of Cash Flows being attributable to stock-based compensation. Historically, Hexagon provided certain corporate functions to the Company and costs associated with these functions were allocated to the Company. These functions include, but are not limited to, corporate communications, executive management, legal, human resources, treasury, finance, accounting, information technology, and the related benefit costs associated with such functions, such as stock-based compensation. The costs of such services were allocated to the Company based on direct usage when identifiable, with the remainder allocated on a pro rata basis of revenue of the Company and Hexagon. The charges for these functions are included in Sales and marketing and General and administrative expenses in the Condensed Combined Statements of Operations. The Company believes the basis on which the expenses have been allocated are a reasonable reflection of the utilization of services provided to, or the benefit received by, Octave during the periods presented; however, they may not be indicative of the actual expense that would have been incurred had the Company been operating as a standalone company for the periods presented. Actual costs that may have been incurred if the Company had been a standalone company would depend on a number of factors, including the organizational structure, pricing power, whether functions were outsourced or performed by employees, and strategic decisions made in areas such as information technology and corporate infrastructure. The Company is unable to quantify the amounts that it would have recorded during the historical periods on a standalone basis, as it is not practicable to do so. Going forward, the Company may perform these functions using its own resources or outsourced services. For an interim period, however, some of these functions may continue to be provided by the Parent under a transition services agreement following the Distribution. Hexagon utilizes a centralized treasury management function for financing its operations. The cash and cash equivalents held by Hexagon at the corporate level are not specifically identifiable to the Company and therefore have not been reflected in the Condensed Combined Balance Sheets. Cash transfers between Hexagon and the Company are accounted for through Net Parent investment. Cash and cash equivalents in the Condensed Combined Balance Sheets represent cash and cash equivalents directly identifiable to the Company and its operations. The Condensed Combined Financial Statements include certain assets and liabilities that have historically been held at the Hexagon corporate level but are specifically identifiable or otherwise attributable to the Company. Hexagon’s third-party long-term debt and the related interest expense have not been allocated to the Company for any of the periods presented as the Company was not the legal obligor of such debt and the Hexagon borrowings were not directly attributable to the Company. The income tax provision included in these Condensed Combined Financial Statements has been calculated using the separate return basis, as if the Company had filed separate tax returns.

Condensed Combined Statements of Cash Flows (Unaudited) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities:
Net income	$ 47,381	$ 59,486
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	45,955	40,315
Stock-based compensation expense	3,482	3,529
Deferred income taxes	(553)	5,782
Remeasurement of contingent consideration reserves	(2,622)	(1,538)
Restructuring charges	(8,072)	(263)
Other	978	268
Changes in assets and liabilities, net of effect from acquisitions:
Accounts receivable	52,122	13,779
Prepaids and other current assets	(1,745)	(4,453)
Accounts payable	(16,121)	(11,522)
Accrued compensation	(12,650)	(18,105)
Deferred revenue	15,135	31,216
Other assets and liabilities	(7,845)	7,015
Net cash provided by operating activities	115,445	125,509
Cash flows from investing activities:
Purchases of property and equipment	(2,371)	(1,509)
Capitalization of software development costs	(31,060)	(32,351)
Acquisitions, net of cash acquired	0	(11,653)
Other	357	(53)
Net cash used in investing activities	(33,074)	(45,566)
Cash flows from financing activities:
Net transfers to Parent	(60,235)	(75,104)
Payment of contingent consideration	(606)	0
Net cash used in financing activities	(60,841)	(75,104)
Effect of foreign exchange rate changes on cash and cash equivalents	(2,093)	2,537
Net increase in cash and cash equivalents	19,437	7,376
Cash and cash equivalents at beginning of period	156,069	97,214
Cash and cash equivalents at end of period	175,506	104,590
Supplemental cash flow information:
Income taxes paid, net of refunds	$ 7,554	$ (229)

Condensed Combined Statements of Operations (Unaudited) - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Revenue:
Revenue	$ 386,501	$ 382,804
Cost of revenue:
Cost of revenue	88,823	99,562
Gross profit	297,678	283,242
Operating expenses:
Research and development	47,486	43,402
Sales and marketing	96,520	88,638
General and administrative	42,592	36,392
Amortization of intangible assets	42,993	37,353
Other operating expense, net	4,453	3,553
Total operating expenses	234,044	209,338
Income from operations	63,634	73,904
Other income, net	348	551
Income before income tax	63,982	74,455
Provision for income taxes	16,601	14,969
Net income	$ 47,381	$ 59,486
Earnings per share - basic (in dollars per share)	$ 0.18	$ 0.22
Earnings per share - diluted (in dollars per share)	$ 0.18	$ 0.22
Weighted average ordinary shares outstanding - basic (in shares)	268,438	268,438
Weighted average ordinary shares outstanding - diluted (in shares)	268,438	268,438
Subscriptions
Revenue:
Revenue	$ 279,180	$ 258,832
Licenses
Revenue:
Revenue	35,125	42,639
Subscriptions and licenses
Revenue:
Revenue	314,305	301,471
Cost of revenue:
Cost of revenue	43,786	39,484
Services and other
Revenue:
Revenue	72,196	81,333
Cost of revenue:
Cost of revenue	$ 45,037	$ 60,078

RELATED PARTY TRANSACTIONS	3 Months Ended
RELATED PARTY TRANSACTIONS	Mar. 31, 2026
Related Party Transactions [Abstract]
RELATED PARTY TRANSACTIONS	RELATED PARTY TRANSACTIONS The Condensed Combined Financial Statements have been prepared on a standalone basis and are derived from the consolidated financial statements and accounting records of Hexagon. Related Party Sales One or more members of the Company’s Board of Directors is an executive officer of an entity whose parent company also controls certain customers of the Company. Any such Director does not control, and is not a director or executive officer of any entity that controls, any of those customers. The Company believes sales to those customers are and have been conducted in the ordinary course of business and on arm’s-length terms. Allocation of General Corporate Expenses The Condensed Combined Statements of Operations include expenses for certain centralized functions and other programs provided and administered by Hexagon. For the three months ended March 31, 2026 and 2025, allocations of general corporate expenses were $1.7 million and $2.6 million, respectively.

Condensed Combined Statements of Equity (Unaudited) - USD ($) $ in Thousands	Total	Net Parent investment	Accumulated other comprehensive loss
Balance as of beginning of period at Dec. 31, 2024	$ 7,673,687	$ 7,795,874	$ (122,187)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	59,486	59,486
Foreign currency translation adjustments	16,181		16,181
Net transfers to Parent	(71,575)	(71,575)
Balance as of end of period at Mar. 31, 2025	7,677,779	7,783,785	(106,006)
Balance as of beginning of period at Dec. 31, 2025	7,677,635	7,749,558	(71,923)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	47,381	47,381
Foreign currency translation adjustments	(7,638)		(7,638)
Net transfers to Parent	(56,753)	(56,753)
Balance as of end of period at Mar. 31, 2026	$ 7,660,625	$ 7,740,186	$ (79,561)