Fiscalnote Hldg Stock Price, News & Analysis

FiscalNote (NYSE: NOTE) reported Q3 2024 financial results with total revenues of $29.4 million and adjusted EBITDA of $3.4 million, marking its fifth consecutive quarter of positive adjusted EBITDA. The company raised its full-year 2024 adjusted EBITDA guidance to approximately $9 million from $8 million, while revising revenue forecast to $120 million from $121 million. Q3 highlights include 93% subscription revenue, 79% gross margin, and $33.4 million in cash. The company announced a leadership transition, with CEO Tim Hwang moving to Executive Chairman and Josh Resnik becoming CEO effective January 2025. FiscalNote also secured a $5.5 million investment from Era Global Technologies.

FiscalNote (NYSE: NOTE) announced the sale of its South Korean subsidiary, Aicel Technologies, for $9.65 million, comprising $8.5 million in cash and $1.15 million in assumed convertible note. Aicel, acquired in July 2022 for approximately 800,000 shares, represented 1.6% ($2.0 million) of FiscalNote's GAAP revenue over the past 12 months through June 2024. The divestiture aims to deleverage the balance sheet, reduce business complexity, and improve operating efficiency by focusing on core operations. The company will use net cash proceeds to prepay senior debt and continues to evaluate additional divestiture opportunities.

FiscalNote (NYSE: NOTE), an AI-driven enterprise technology provider of policy and global intelligence, announced it will release its Third Quarter 2024 financial results on November 12, 2024 after market close. The company will host a conference call at 5:00 p.m. ET the same day to discuss quarterly results, full-year 2024 guidance, and business status. The earnings call will be accessible via phone and webcast, with replay options available through November 26, 2024 for phone access and indefinitely for webcast.

FiscalNote (NYSE: NOTE), an AI-driven enterprise SaaS provider, has appointed Can Babaoglu as Chief Product Officer. Babaoglu, with nearly 20 years of experience in product development and management, will lead the company's product strategy and innovation. He previously served as VP of Product at Casetext, where he led the development of CoCounsel, an AI legal assistant. At FiscalNote, Babaoglu will focus on leveraging AI and data science to create more valuable solutions for global customers in policy, regulatory, legal, and risk management sectors.

The appointment aims to accelerate FiscalNote's product-led growth, improve customer engagement, and drive revenue. As part of his compensation, Babaoglu will receive equity awards including restricted stock units and options, granted under FiscalNote's 2024 Inducement Equity Incentive Plan.

Efficient Capital Labs (ECL), a leading revenue-based financing provider for B2B SaaS companies in the South Asia-U.S. corridor, has secured $11 million in Series A funding. The round was co-led by QED Investors and 645 Ventures, with participation from existing and new investors. ECL plans to use the funds to expand into Singapore and other Southeast Asian markets.

The company has shown significant growth, originating over $70 million in financing and tripling its customer base to over 100 companies in 12 months. ECL's unique approach evaluates a business's revenue across all geographies, providing a holistic risk assessment for cross-border companies. The company has experienced strong growth in accounts receivable and plans to offer Singapore dollar-denominated loans by the end of 2024.

FiscalNote (NYSE: NOTE), an AI-driven enterprise SaaS provider of policy and global intelligence, has announced its participation in two upcoming investor conferences. The company will attend the Oppenheimer & Co. 27th Annual Technology, Internet & Communications Conference on August 14, 2024, where it will provide a virtual corporate update and host investor meetings. Additionally, FiscalNote will present and meet with investors at the H.C. Wainwright & Co. 26th Annual Global Investment Conference on September 9, 2024, in New York City.

Presentations and webcasts from these events will be accessible on the FiscalNote investor relations website. Interested parties can contact representatives at Oppenheimer & Co. and H.C. Wainwright & Co. for more information about the conferences.

FiscalNote Holdings, Inc. (NYSE: NOTE) reported Q2 2024 financial results, exceeding previous forecasts with total revenues of $29.2 million and adjusted EBITDA of $1.8 million. This marks the fourth consecutive quarter of positive adjusted EBITDA. Key highlights include:

- Subscription revenue at ~93% of total revenues
- Gross margin improved to 77%
- Net loss reduced to $12.8 million, a 59% improvement
- Cash and cash equivalents at $31.3 million

The company raised its full-year 2024 adjusted EBITDA forecast to approximately $8 million, while revising total revenue expectations to approximately $121 million. FiscalNote continues to focus on profitability and invest in AI-driven products to drive future growth.

Empowered Systems and FiscalNote (NYSE: NOTE) have announced a strategic partnership to enhance third-party risk management solutions. The collaboration integrates FiscalNote's Risk Connector, Copilot for Global Intelligence, and Dragonfly into Empowered Systems' Connected Risk™ platform. This integration aims to provide a comprehensive view of regulatory compliance and geopolitical risks.

Key features of the enhanced platform include:

• AI-powered risk management through FiscalNote Risk Connector
• Geopolitical intelligence and risk ratings from Dragonfly
• AI-assisted global intelligence navigation using FiscalNote Copilot

The partnership is expected to expand FiscalNote's customer base, accelerate growth, and drive revenue by delivering critical insights to a broader range of business functions within risk and compliance teams.

FiscalNote Holdings, Inc. (NYSE: NOTE) has announced a series of new and expanded customer agreements with major global corporations in regulated industries. The company, a leading AI-driven enterprise SaaS technology provider of policy and global intelligence, has secured contracts with Fortune 500 leaders across various sectors including technology, health and life sciences, finance, energy, and manufacturing.

Notable new customers and expansions include Pepsico, FirstSolar, Sallie Mae, APCO Worldwide, Meijer, Bentley Systems, APEX Clean Energy, DaVita, Western Digital Technologies, QatarEnergy, CNA Insurance, MediaCom Communications, and Invenergy. FiscalNote's AI-powered solutions are helping these organizations navigate complex policy and regulatory landscapes, track political developments, and identify new opportunities in a challenging global economic environment.