Background. The widespread adoption of hybrid work following the COVID-19 pandemic has fundamentally transformed software development practices, introducing new challenges in communication and collaboration as organizations transition from traditional office-based structures to flexible working arrangements. This shift has established a new organizational norm where even traditionally office-first companies now embrace hybrid team structures. While remote participation in meetings has become commonplace in this new environment, it may lead to isolation, alienation, and decreased engagement among remote team members. Aims. This study aims to identify and characterize engagement patterns in hybrid meetings through objective measurements, focusing on the differences between co-located and remote participants. Method. We studied professionals from three software companies over several weeks, employing a multimodal approach to measure engagement. Data were collected through self-reported questionnaires and physiological measurements using biometric devices during hybrid meetings to understand engagement dynamics. Results. The regression analyses revealed comparable engagement levels between onsite and remote participants, though remote participants show lower engagement in long meetings regardless of participation mode. Active roles positively correlate with higher engagement, while larger meetings and afternoon sessions are associated with lower engagement. Conclusions. Our results offer insights into factors associated with engagement and disengagement in hybrid meetings, as well as potential meeting improvement recommendations. These insights are potentially relevant not only for software teams but also for knowledge-intensive organizations across various sectors facing similar hybrid collaboration challenges.