Octave Intelligence Shares Sink on Swing to 2Q Loss, Underwhelming Outlook
By Connor Hart
Shares of Octave Intelligence fell after the company swung to a second-quarter loss, hurt by large impairment charges, and issued an underwhelming revenue outlook for the current period.
The stock slipped 15%, to $16.76, in premarket trading Wednesday. Through Tuesday's close, shares are down 10% year to date.
The company before the bell posted a loss of $1.97 billion, or $7.34 a share. That compares with a profit of $75.2 million, or 28 cents a share, a year earlier.
The recent quarter included a $2.14 billion hit from non-cash impairment charges.
Stripping out one-time items, quarterly earnings came in at 36 cents a share. Analysts polled by FactSet had expected adjusted earnings of 30 cents a share.
Total revenue slipped 3.6% to $398.4 million, roughly in line with Wall Street models.
For the third quarter, Octave guided for total revenue of $400 million to $410 million, missing analyst views for $411.2 million.
For the year, the company expects total revenue of $1.64 billion to $1.67 billion, compared with Wall Street estimates for $1.66 billion.
Write to Connor Hart at connor.hart@wsj.com
(END) Dow Jones Newswires
August 12, 2026 08:08 ET (12:08 GMT)
Copyright (c) 2026 Dow Jones & Company, Inc.The articles, information, and content displayed on this webpage may include materials prepared and provided by third parties. Such third-party content is offered for informational purposes only and is not endorsed, reviewed, or verified by Morningstar.
Morningstar makes no representations or warranties regarding the accuracy, completeness, timeliness, or reliability of any third-party content displayed on this site. The views and opinions expressed in third-party content are those of the respective authors and do not necessarily reflect the views of Morningstar, its affiliates, or employees.
Morningstar is not responsible for any errors, omissions, or delays in this content, nor for any actions taken in reliance thereon. Users are advised to exercise their own judgment and seek independent financial advice before making any decisions based on such content. The third-party providers of this content are not affiliated with Morningstar, and their inclusion on this site does not imply any form of partnership, agency, or endorsement.
Popular
4 Stocks to Buy for the Long-Term While They’re Still Undervalued
Why This Vanguard ETF Is One of the Best
6 ETFs To Diversify Away From AI
The Best AI Stocks to Buy Now
United States