Octave Intelligence, recently spun off from Hexagon, trades at a suppressed valuation due to structural selling pressure and the "SaaSpocalypse". OCTV's pivot from license sales to SaaS temporarily dampens growth, but enhances business predictability and should command a higher valuation as the transition completes. Accounting changes, including expensing more R&D, depress operating margins short-term but do not impact free cash flow or long-term earnings quality.