Fiscalnote Holdings Inc ( (NOTE) ) has released its Q3 earnings. Here is a breakdown of the information Fiscalnote Holdings Inc presented to its investors.
Don't Miss our Black Friday Offers:
- Unlock your investing potential with TipRanks Premium - Now At 40% OFF!
- Make smarter investments with weekly expert stock picks from the Smart Investor Newsletter
FiscalNote Holdings Inc. is a prominent AI-driven enterprise SaaS provider specializing in policy and global intelligence, known for its innovative data and insights solutions across various sectors worldwide.
In its third-quarter 2024 financial report, FiscalNote surpassed previous forecasts with increased adjusted EBITDA and announced a series of strategic initiatives aimed at enhancing customer experience and operational efficiency.
The company reported Q3 2024 revenues of $29.4 million with an adjusted EBITDA of $3.4 million, marking the fifth consecutive quarter of positive adjusted EBITDA. Despite a slight revenue decline compared to the previous year due to divestitures, FiscalNote has raised its full-year adjusted EBITDA forecast to approximately $9 million. The divestiture of Aicel Technologies was part of a broader strategy to simplify the business and focus on core strengths, alongside new customer agreements showcasing the resilience of its business model.
FiscalNote has also unveiled a leadership succession plan, with current CEO Tim Hwang transitioning to Executive Chairman, while President and COO Josh Resnik will take over as CEO in 2025. This transition is aimed at steering the company into its next growth phase.
Looking ahead, FiscalNote is committed to further deleveraging its capital structure and optimizing its product strategy, expecting improved growth rates and sustained profitability into 2025 and beyond, according to company management.
