Octave Intelligence (NASDAQ:OCTV) reported second-quarter results in its first earnings call as an independent public company, with organic annual recurring revenue growth and expanding SaaS revenue offset by lower perpetual-license sales and delayed public safety contracts. Recurring revenue grew 6% organically, while SaaS revenue increased 21%. Recurring revenue represented 69% of total revenue on a last-12-month basis, up from 65% a year earlier, as Octave works toward a medium-term target of 75% recurring revenue mix. Maslen said the lower margin reflected costs associated with becoming an independent public company, including listing, audit and insurance expenses. Full-year recurring revenue is expected to be $1.14 billion to $1.15 billion, up 5% to 6% organically in constant currency.