Octave Specialty Q2 revenue up 51% to $83M; net loss narrows to $(14.4)M

OCTAVE SPECIALTY GROUP INC

Total revenue $83.0M (+51% YoY); net loss to shareholders improved to $(14.4)M from $(20.5)M.
Insurance Distribution revenue $58M (+77% YoY), organic growth 44%; segment Adj. EBITDA $10M vs $3M.
Everspan net premiums written $23M (+52% YoY); net income $1.1M vs $0.4M; combined ratio down >600 bps.
Consolidated Adj. EBITDA to shareholders $3.7M vs $(4.6)M; adjusted net loss $(1.8)M vs $(10.6)M.
Launched proprietary AI-driven underwriting platform to accelerate decisions and bring MGAs to market.

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