Octave Intelligence recently spun off from Sweden-based industrial technology company Hexagon, with the newly independent firm’s shares now trading on NASDAQ under the ticker symbol OCTV.
As of market close Friday, Octave shares stood at $17.20 after debuting at $17.45 on Thursday. The stock hit a high of $17.75 on Friday with a trading volume of 3.1 million.
Octave joins such companies as Tyler Technologies, Motorola Solutions, Via Transportation and Axon, which are also publicly traded. Most gov tech suppliers remain private, with many of them backed by private equity investment.
Octave’s financial disclosure data paints a picture not only of the Alabama-based operation’s current state but signals how it expects to win more gov tech business in the coming years.
For the nine months ended Sept. 30, 2025 — the most recent data — Octave reported revenue of $1.19 billion, up 1.7 percent from $1.17 billion for the same period the previous year.
Octave sells technology to a variety of industries besides state and local governments; those sectors include chemicals and transportation, for instance.
A more detailed breakdown of its gov tech revenue was not immediately available, making comparisons difficult. That said, Tyler recently reported that its second quarter revenue increased 8.6 percent year over year to $613.5 million, an indication of the ongoing growth in gov tech.
According to Octave’s financial disclosure, the company is betting that the public sector, along with other industries, will continue to buy “modern, connected software for design, construction, operation and public safety workflows.”
Octave said its existing and potential customers will keep replacing “legacy tools” as they upgrade platforms that can combine data from “different sources and support more consistent, coordinated processes. This shift continues to drive demand for cloud, hybrid and data-driven solutions.”
AI will play a major role in those changes, according to the company.
As well, public safety promises to bring in more revenue as law enforcement agencies upgrade workflows, data analysis capabilities, dispatching, emergency management and other areas.
Octave’s main competitors for more public safety business include CentralSquare, Motorola Solutions and Tyler Technologies, according to the disclosure document, each of which continues to buy up companies in that part of the gov tech world.
Public safety has lately attracted significant investment, especially as agencies buy newer 911-related tools. Octave also highlighted computer-aided dispatch and records management as appealing areas for revenue growth.
Geospatial technology stands as a smaller but increasingly active area of gov tech, and Octave sells those tools, too.
The company also said that it expects to sell more software related to physical infrastructure improvements — “investment cycles have not kept pace with societal and economic needs,” Octave said in the disclosure — and potential customers include utilities and other operations in the public sector or adjacent to it.
Octave said that the company is “accelerating” its move to a “recurring revenue model by expanding subscription and SaaS offerings, including cloud-native capabilities that enable faster deployment, continuous updates and more predictable customer engagement.”
The main bet there is that customers will “adopt higher-value solutions” that lead to more revenue.
