FiscalNote Closes Previously Announced Divestiture of Non-Core Assets to Accelerate Policy-Centric Growth, Enhance Profitability, and Strengthen Balance Sheet
FiscalNote Holdings (NYSE: NOTE) has completed the sale of its non-core assets, Oxford Analytica and Dragonfly, to Dow Jones for $40 million. The transaction, resulting in net proceeds of $27.1 million, will be used to reduce the company's senior term debt by 30.6% to approximately $61.5 million.
The strategic divestiture enables FiscalNote to focus on its core business serving 4,000+ global policy customers while strengthening its balance sheet. Over the past twelve months, the company has reduced its senior term debt by more than 60%. This move is expected to accelerate FiscalNote's path toward positive free cash flow and enhance operating profitability.
FiscalNote Holdings (NYSE: NOTE) ha completato la vendita dei suoi asset non strategici, Oxford Analytica e Dragonfly, a Dow Jones per 40 milioni di dollari. La transazione, che ha generato proventi netti di 27,1 milioni di dollari, sarà utilizzata per ridurre il debito senior a lungo termine dell'azienda del 30,6%, portandolo a circa 61,5 milioni di dollari.
Questa dismissione strategica consente a FiscalNote di concentrarsi sul suo core business, servendo oltre 4.000 clienti politici a livello globale, rafforzando al contempo il proprio bilancio. Negli ultimi dodici mesi, l'azienda ha ridotto il suo debito senior a lungo termine di oltre il 60%. Questa mossa è prevista per accelerare il percorso di FiscalNote verso un flusso di cassa libero positivo e migliorare la redditività operativa.
FiscalNote Holdings (NYSE: NOTE) ha completado la venta de sus activos no esenciales, Oxford Analytica y Dragonfly, a Dow Jones por 40 millones de dólares. La transacción, que resultó en ingresos netos de 27,1 millones de dólares, se utilizará para reducir la deuda senior a largo plazo de la compañía en un 30,6%, dejándola en aproximadamente 61,5 millones de dólares.
Esta desinversión estratégica permite a FiscalNote centrarse en su negocio principal, atendiendo a más de 4.000 clientes de políticas globales, al tiempo que fortalece su balance. En los últimos doce meses, la empresa ha reducido su deuda senior a largo plazo en más de un 60%. Se espera que este movimiento acelere el camino de FiscalNote hacia un flujo de caja libre positivo y mejore la rentabilidad operativa.
FiscalNote Holdings (NYSE: NOTE)는 비핵심 자산인 Oxford Analytica와 Dragonfly를 Dow Jones에 4천만 달러에 매각했습니다. 이 거래는 2천7백1십만 달러의 순수익을 가져왔으며, 회사의 장기 선순위 부채를 약 30.6% 줄여 6천1백5십만 달러로 낮추는 데 사용될 것입니다.
이 전략적 매각은 FiscalNote가 4,000명 이상의 글로벌 정책 고객을 대상으로 하는 핵심 비즈니스에 집중할 수 있도록 하며, 재무 상태를 강화합니다. 지난 12개월 동안 회사는 선순위 장기 부채를 60% 이상 줄였습니다. 이 조치는 FiscalNote가 긍정적인 자유 현금 흐름으로 나아가는 길을 가속화하고 운영 수익성을 향상시킬 것으로 예상됩니다.
FiscalNote Holdings (NYSE: NOTE) a finalisé la vente de ses actifs non essentiels, Oxford Analytica et Dragonfly, à Dow Jones pour 40 millions de dollars. La transaction, qui a généré des produits nets de 27,1 millions de dollars, sera utilisée pour réduire la dette senior à long terme de l'entreprise de 30,6%, soit environ 61,5 millions de dollars.
Cette cession stratégique permet à FiscalNote de se concentrer sur son activité principale, en servant plus de 4.000 clients politiques à l'échelle mondiale, tout en renforçant son bilan. Au cours des douze derniers mois, l'entreprise a réduit sa dette senior à long terme de plus de 60%. Ce mouvement devrait accélérer la trajectoire de FiscalNote vers un flux de trésorerie disponible positif et améliorer la rentabilité opérationnelle.
FiscalNote Holdings (NYSE: NOTE) hat den Verkauf seiner nicht zum Kerngeschäft gehörenden Vermögenswerte, Oxford Analytica und Dragonfly, an Dow Jones für 40 Millionen Dollar abgeschlossen. Die Transaktion, die zu einem Nettoprofit von 27,1 Millionen Dollar führte, wird verwendet, um die langfristige Seniorenschuld des Unternehmens um 30,6% auf etwa 61,5 Millionen Dollar zu reduzieren.
Diese strategische Veräußerung ermöglicht es FiscalNote, sich auf sein Kerngeschäft zu konzentrieren, das über 4.000 globale Politikkunden bedient, während gleichzeitig die Bilanz gestärkt wird. In den letzten zwölf Monaten hat das Unternehmen seine langfristige Seniorenschuld um mehr als 60% reduziert. Diese Maßnahme wird voraussichtlich den Weg von FiscalNote zu positivem Free Cash Flow beschleunigen und die operative Rentabilität verbessern.
- Significant debt reduction of 30.6% from sale proceeds
- Total debt reduction of over 60% in past 12 months
- $40 million cash injection from asset sale
- Strategic focus on core policy business with 4,000+ customers
- Accelerating path to positive free cash flow
- Divestiture of revenue-generating assets
- Net proceeds of $27.1M significantly lower than $40M gross due to taxes and fees
- Substantial remaining debt of $61.5M post-transaction
Company Sells Oxford Analytica and Dragonfly to Dow Jones for
Sale Allows the Company to Focus on Its 4,000+ Global Policy Customers to Drive Product Led Growth and Expand Operating Profitability
Following customary post-closing adjustments (taxes, fees), net proceeds of approximately
This transaction further strengthens the Company’s balance sheet and contributes to the Company’s continuing path to future positive free cash flow.
Solomon Partners served as exclusive financial advisor and Greenberg Traurig, LLP served as legal counsel to FiscalNote on the transaction.
About FiscalNote
FiscalNote (NYSE: NOTE) is the leading provider of AI-driven policy and regulatory intelligence solutions. By uniquely combining proprietary AI technology, comprehensive data, and decades of trusted analysis, FiscalNote helps customers efficiently manage political and business risk. Since 2013, FiscalNote has pioneered solutions that deliver critical insights, enabling effective decision making and giving organizations the competitive edge they need. Home to PolicyNote, CQ, Roll Call, VoterVoice, and many other industry-leading products and brands, FiscalNote serves thousands of customers worldwide with global offices in
Safe Harbor Statement
Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or FiscalNote’s future financial or operating performance. For example, statements regarding FiscalNote’s financial outlook for future periods, expectations regarding profitability, capital resources and anticipated growth in the industry in which FiscalNote operates are forward-looking statements. In some cases, you can identify forward-looking statements by terminology such as “pro forma,” “may,” “should,” “could,” “might,” “plan,” “possible,” “project,” “strive,” “budget,” “forecast,” “expect,” “intend,” “will,” “estimate,” “anticipate,” “believe,” “predict,” “potential” or “continue,” or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements.
Factors that may impact such forward-looking statements include:
- FiscalNote’s ability to close its previously-announced divestitures of Oxford Analytica and Dragonfly Intelligence on the timeline anticipated or at all;
-
concentration of revenues from
U.S. government agencies, changes in theU.S. government spending priorities, dependence on winning or renewingU.S. government contracts, delay, disruption or unavailability of funding onU.S. government contracts, and theU.S. government’s right to modify, delay, curtail or terminate contracts; - FiscalNote’s ability to successfully execute on its strategy to achieve and sustain organic growth through a focus on its core Policy business, including risks to FiscalNote’s ability to develop, enhance, and integrate its existing platforms, products, and services, bring highly useful, reliable, secure and innovative products, product features and services to market, attract new customers, retain existing customers, expand its products and service offerings with existing customers, expand into geographic markets or identify other opportunities for growth;
- FiscalNote’s future capital requirements, as well as its ability to service its repayment obligations and maintain compliance with covenants and restrictions under its existing debt agreements;
- demand for FiscalNote’s services and the drivers of that demand;
- the impact of cost reduction initiatives undertaken by FiscalNote;
- risks associated with international operations, including compliance complexity and costs, increased exposure to fluctuations in currency exchange rates, political, social and economic instability, and supply chain disruptions;
- FiscalNote’s ability to introduce new features, integrations, capabilities, and enhancements to its products and services, as well as obtain and maintain accurate, comprehensive, or reliable data to support its products and services;
- FiscalNote's reliance on third-party systems and data, its ability to integrate such systems and data with its solutions and its potential inability to continue to support integration;
- FiscalNote’s ability to maintain and improve its methods and technologies, and anticipate new methods or technologies, for data collection, organization, and analysis to support its products and services;
- potential technical disruptions, cyberattacks, security, privacy or data breaches or other technical or security incidents that affect FiscalNote’s networks or systems or those of its service providers;
- competition and competitive pressures in the markets in which FiscalNote operates, including larger well-funded companies shifting their existing business models to become more competitive with FiscalNote;
-
FiscalNote’s ability to comply with laws and regulations in connection with selling products and services to
U.S. and foreign governments and other highly regulated industries; - FiscalNote’s ability to retain or recruit key personnel;
- FiscalNote’s ability to adapt its products and services for changes in laws and regulations or public perception, or changes in the enforcement of such laws, relating to artificial intelligence, machine learning, data privacy and government contracts;
- adverse general economic and market conditions reducing spending on our products and services;
- the outcome of any known and unknown litigation and regulatory proceedings;
- FiscalNote’s ability to maintain public company-quality internal control over financial reporting; and
- FiscalNote’s ability to protect and maintain its brands and other intellectual property rights.
These and other important factors discussed in FiscalNote’s SEC filings, including its most recent reports on Forms 10-K and 10-Q, particularly the "Risk Factors" sections of those reports, could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by FiscalNote and its management, are inherently uncertain. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place reliance on forward-looking statements, which speak only as of the date they are made. FiscalNote undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.
Source: FiscalNote
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Media
Yojin Yoon
FiscalNote
press@fiscalnote.com
Investor Relations
Bob Burrows
FiscalNote
IR@fiscalnote.com
Source: FiscalNote