NOTE
FiscalNote Holdings, Inc.1.6600
+0.0400+2.47%
Dec 16, 4:00:02 PM EST
Earnings Call Transcripts
This Quarter (Q4 '25)
No earnings call transcript available yet
Last Quarter (Q3 '25)
No earnings call transcript available
Key Stats
Market Cap
26.08MP/E (TTM)
-Basic EPS (TTM)
-4.39Dividend Yield
0%Recent Filings
8-K
Exec retention awards approved
FiscalNote Holdings amended employment agreements for CEO Josh Resnik and CFO Jon Slabaugh on October 31, 2025, tweaking severance multiples, Good Reason definitions, and bonus calculations while keeping core terms intact. The board also greenlit $500,000 and $300,000 cash retention awards, payable after 48 months of service or accelerated on qualifying terminations or change in control. Meanwhile, they axed the prior change-in-control severance plan for top execs. Retention locks in leadership amid uncertainty.
8-K
Issued $12.3M debenture tranche
FiscalNote Holdings issued a $12.3 million convertible debenture to YA II PN, Ltd. on September 11, 2025, as the second tranche of a $33 million agreement, with a maturity date of March 11, 2027 and an adjusted floor price of $0.8884. Proceeds partly retired existing subordinated convertible notes from EGT 11, LLC dated March 17 and 20, 2025. This bolsters liquidity. Yet dilution looms if converted.
8-K
1-for-12 reverse split executed
FiscalNote Holdings executed a 1-for-12 reverse stock split on August 29, 2025, combining every 12 pre-split shares of Class A and Class B common stock into one post-split share, effective at 4:30 p.m. that day. Trading on the NYSE resumes September 2 under the unchanged 'NOTE' symbol, with fractional shares cashed out via transfer agent sales. Ownership percentages stay intact, but warrant and option holders face adjusted exercise prices. This boosts per-share value without altering control.
10-Q
Q2 FY2025 results
FiscalNote's Q2 FY2025 revenue fell 20.5% y/y to $23.3M, driven by the March 31 sale of Dragonfly and Oxford Analytica, while subscription revenue dropped 21.3% y/y to $21.4M amid customer retention challenges and federal spending cuts. Operating loss narrowed 6.6% y/y to $7.4M, with gross margin expanding to 79% from 77% on cost reductions, yet net loss widened 4.0% y/y to $13.3M due to fair-value changes in financial instruments. Q/q, revenue declined 10.2% from Q1's $27.5M, but operating loss improved from $13.8M. Cash and equivalents rose to $34.0M from $28.8M y/e 2024, with $116.7M long-term debt; free cash flow not disclosed in the 10-Q. The August 12 refinancing retired legacy debt for a $75M senior term loan maturing 2029, easing liquidity. Yet, reliance on U.S. government contracts exposes FiscalNote to funding delays.
8-K
Q2 revenues fall, EBITDA rises
FiscalNote reported Q2 2025 revenues of $23.3 million, down 20% year-over-year due to divestitures, yet adjusted EBITDA surged 58% to $2.8 million on expense cuts and efficiency gains. PolicyNote platform adoption accelerated, surpassing legacy usage, while ARR dipped 8% pro forma to $85.9 million amid federal sector instability. Full-year guidance holds at $94-$100 million revenue and $10-$12 million adjusted EBITDA, eyeing ARR growth in H2. Divestitures trimmed non-core assets, but market volatility lingers.
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