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Side-by-side financial comparison of indie Semiconductor, Inc. (INDI) and OCTAVE SPECIALTY GROUP INC (OSG). Click either name above to swap in a different company.
OCTAVE SPECIALTY GROUP INC is the larger business by last-quarter revenue ($104.2M vs $55.5M, roughly 1.9× indie Semiconductor, Inc.). On growth, OCTAVE SPECIALTY GROUP INC posted the faster year-over-year revenue change (66.0% vs 2.6%). Over the past eight quarters, OCTAVE SPECIALTY GROUP INC's revenue compounded faster (42.9% CAGR vs 2.9%).
indie Semiconductor is a fabless semiconductor manufacturer focused on designing high-performance mixed-signal and embedded system-on-chip solutions for the automotive industry. Its products support advanced driver assistance systems, in-vehicle infotainment, connected car, and electric vehicle applications, serving global auto OEMs and tier 1 suppliers across major global markets.
Octave Specialty Group Inc. is a specialty insurance holding company that provides tailored property and casualty insurance products. Its core business focuses on excess and surplus lines, catering to commercial and individual clients across primary North American markets with customized risk coverage solutions.
INDI vs OSG — Head-to-Head
Income Statement — Q1 FY2026 vs Q1 FY2026
| Metric | | |
|---|---|---|
| Revenue | $55.5M | $104.2M |
| Net Profit | — | $-6.9M |
| Gross Margin | 38.0% | — |
| Operating Margin | -70.1% | — |
| Net Margin | — | -6.6% |
| Revenue YoY | 2.6% | 66.0% |
| Net Profit YoY | — | — |
| EPS (diluted) | — | $-0.13 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q1 26 | $55.5M | $104.2M | ||
| Q4 25 | $58.0M | $66.9M | ||
| Q3 25 | $53.7M | $66.6M | ||
| Q2 25 | $51.6M | $55.0M | ||
| Q1 25 | $54.1M | $62.8M | ||
| Q4 24 | $58.0M | $65.2M | ||
| Q3 24 | $54.0M | $70.0M | ||
| Q2 24 | $52.4M | $51.0M |
| Q1 26 | — | $-6.9M | ||
| Q4 25 | $-31.2M | $-29.7M | ||
| Q3 25 | $-38.3M | $-112.6M | ||
| Q2 25 | $-39.0M | $-72.7M | ||
| Q1 25 | $-34.5M | $-44.7M | ||
| Q4 24 | $-34.4M | $-20.9M | ||
| Q3 24 | $-49.7M | $-27.5M | ||
| Q2 24 | $-19.2M | $-750.0K |
| Q1 26 | 38.0% | — | ||
| Q4 25 | 37.3% | — | ||
| Q3 25 | 40.1% | — | ||
| Q2 25 | 40.6% | — | ||
| Q1 25 | 41.7% | — | ||
| Q4 24 | 42.6% | — | ||
| Q3 24 | 39.3% | — | ||
| Q2 24 | 42.2% | — |
| Q1 26 | -70.1% | — | ||
| Q4 25 | -58.5% | -76.7% | ||
| Q3 25 | -71.4% | -48.2% | ||
| Q2 25 | -83.3% | -41.8% | ||
| Q1 25 | -72.0% | -24.1% | ||
| Q4 24 | -58.4% | -55.5% | ||
| Q3 24 | -92.5% | -29.7% | ||
| Q2 24 | -70.0% | -28.9% |
| Q1 26 | — | -6.6% | ||
| Q4 25 | -53.8% | -73.8% | ||
| Q3 25 | -71.3% | -169.1% | ||
| Q2 25 | -75.6% | -132.3% | ||
| Q1 25 | -63.9% | -71.3% | ||
| Q4 24 | -59.2% | -55.1% | ||
| Q3 24 | -92.1% | -39.3% | ||
| Q2 24 | -36.6% | -1.5% |
| Q1 26 | — | $-0.13 | ||
| Q4 25 | $-0.16 | $-0.82 | ||
| Q3 25 | $-0.19 | $-2.35 | ||
| Q2 25 | $-0.20 | $-1.54 | ||
| Q1 25 | $-0.18 | $-1.22 | ||
| Q4 24 | $-0.18 | $-11.75 | ||
| Q3 24 | $-0.28 | $-0.63 | ||
| Q2 24 | $-0.11 | $-0.02 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $174.4M | — |
| Total DebtLower is stronger | $402.8M | $117.1M |
| Stockholders' EquityBook value | $348.9M | $833.6M |
| Total Assets | $869.6M | $2.3B |
| Debt / EquityLower = less leverage | 1.15× | 0.14× |
8-quarter trend — quarters aligned by calendar period.
| Q1 26 | $174.4M | — | ||
| Q4 25 | $145.5M | $146.4M | ||
| Q3 25 | $160.9M | $27.5M | ||
| Q2 25 | $192.6M | $22.5M | ||
| Q1 25 | $236.6M | $34.1M | ||
| Q4 24 | $274.2M | $157.2M | ||
| Q3 24 | $96.9M | $40.8M | ||
| Q2 24 | $112.3M | $14.6M |
| Q1 26 | $402.8M | $117.1M | ||
| Q4 25 | $353.4M | $117.6M | ||
| Q3 25 | $353.5M | — | ||
| Q2 25 | $352.5M | — | ||
| Q1 25 | $379.0M | — | ||
| Q4 24 | $381.3M | $0 | ||
| Q3 24 | — | $518.0M | ||
| Q2 24 | — | $515.0M |
| Q1 26 | $348.9M | $833.6M | ||
| Q4 25 | $358.0M | $715.8M | ||
| Q3 25 | $369.2M | $843.4M | ||
| Q2 25 | $390.4M | $859.8M | ||
| Q1 25 | $405.6M | $852.2M | ||
| Q4 24 | $417.9M | $798.4M | ||
| Q3 24 | $458.6M | $1.5B | ||
| Q2 24 | $470.7M | $1.4B |
| Q1 26 | $869.6M | $2.3B | ||
| Q4 25 | $840.8M | $2.2B | ||
| Q3 25 | $855.1M | $2.1B | ||
| Q2 25 | $867.6M | $8.5B | ||
| Q1 25 | $909.0M | $8.3B | ||
| Q4 24 | $941.4M | $8.1B | ||
| Q3 24 | $797.5M | $9.3B | ||
| Q2 24 | $797.3M | $8.2B |
| Q1 26 | 1.15× | 0.14× | ||
| Q4 25 | 0.99× | 0.16× | ||
| Q3 25 | 0.96× | — | ||
| Q2 25 | 0.90× | — | ||
| Q1 25 | 0.93× | — | ||
| Q4 24 | 0.91× | 0.00× | ||
| Q3 24 | — | 0.35× | ||
| Q2 24 | — | 0.38× |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
Revenue Breakdown by Segment
INDI
| Product revenue | $51.6M | 93% |
| Contract revenue | $3.9M | 7% |
OSG
| Commissions | $68.2M | 65% |
| Other | $20.6M | 20% |
| Servicing and other fees | $9.4M | 9% |
| Program fees | $3.6M | 3% |
| Investment income | $2.4M | 2% |
