The earnings call highlighted strong financial performance in terms of revenue and adjusted EBITDA, significant debt reduction, and promising developments with the PolicyNote platform. However, challenges such as a decline in ARR and net revenue retention, as well as a sequential revenue decline due to divestitures, were also noted. Despite these challenges, the company's reaffirmed guidance and positive pipeline developments suggest optimism for future growth.

Company Guidance -

Q3 2025

During the FiscalNote Holdings Incorporated first quarter 2025 financial results conference call, the company provided guidance for both the full year and second quarter of 2025. For the full year, they reaffirmed their revenue forecast in the range of $94 million to $100 million and adjusted EBITDA between $10 million and $12 million. For the second quarter of 2025, they projected revenues between $22 million and $24 million, and an adjusted EBITDA of approximately $2 million. The first quarter saw a revenue of $27.5 million, exceeding expectations, with an adjusted EBITDA of $2.8 million reflecting a margin of 10%. The company emphasized their strategic focus on product-led growth, efficient pipeline management, and maintaining a disciplined approach towards achieving positive free cash flow. They highlighted key performance indicators such as annual recurring revenue (ARR) at $88 million and net revenue retention (NRR) at 93%, and noted the impact of recent divestitures on their financials.

Exceeding Financial Expectations

FiscalNote reported Q1 2025 revenue of $27.5 million, exceeding the forecast of $26 million to $27 million. Adjusted EBITDA was $2.8 million, surpassing the guidance of approximately $2 million.

Improved Adjusted EBITDA Margin

Adjusted EBITDA margin in Q1 2025 was 10%, compared to 4% in the same period one year earlier, reflecting improved operating leverage.

Significant Debt Reduction

FiscalNote reduced its senior term loan by $96 million since December 31, 2023, decreasing cash interest expense from $5 million to $2 million per quarter.

Strong Pipeline Growth

Inbound pipeline rose 20% compared to the same period last year, with notable traction in Europe where pipeline creation doubled compared to 2024.

PolicyNote Platform Success

The new PolicyNote platform is contributing to significant improvements in customer engagement, with 75% of migrated at-risk accounts now healthy and high engagement levels overall.

Increased Multi-Year Agreements

New corporate customers committed to multi-year agreements at more than double the rate of a year ago, indicating trust in the platform and its future developments.

FiscalNote Holdings (NOTE) Earnings, Revenues Date & History

The upcoming earnings date is based on a company’s previous reporting, and may be updated when the actual date is announced

Daily Earnings Calendar >

NOTE Earnings History

Report Date	Fiscal Quarter	Forecast / EPS	Last Year's EPS	EPS YoY Change	Slides	Play Transcript
Nov 18, 2025	2025 (Q3)	-0.06 / -	-0.11	―	―	―
Aug 07, 2025	2025 (Q2)	-0.06 / -0.08	-0.09	11.11% (<+0.01)
May 12, 2025	2025 (Q1)	-0.07 / -0.03	0.37	-108.11% (-0.40)
Mar 13, 2025	2024 (Q4)	-0.08 / -0.10	-0.39	74.36% (+0.29)
Nov 12, 2024	2024 (Q3)	-0.08 / -0.11	-0.11	0.00% (0.00)
Aug 08, 2024	2024 (Q2)	-0.07 / -0.09	-0.23	60.87% (+0.14)
May 09, 2024	2024 (Q1)	-0.07 / 0.37	-0.14	364.29% (+0.51)
Mar 12, 2024	2023 (Q4)	-0.11 / -0.39	-0.32	-21.88% (-0.07)
Nov 14, 2023	2023 (Q3)	-0.12 / -0.11	-1.63	93.25% (+1.52)
Aug 09, 2023	2023 (Q2)	-0.11 / -0.23	-3.06	92.48% (+2.83)

The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.

Beat

Missed

NOTE Earnings-Related Price Changes

Report Date	Price 1 Day Before	Price 1 Day After	Percentage Change
May 12, 2025	$0.65	$0.66	+1.54%
Mar 13, 2025	$0.96	$0.92	-4.17%
Nov 12, 2024	$0.88	$0.77	-12.50%
Aug 08, 2024	$1.37	$1.31	-4.38%

Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.

FAQ

When does Fiscalnote Holdings Inc (NOTE) report earnings?

Fiscalnote Holdings Inc (NOTE) is schdueled to report earning on Nov 18, 2025, After Close (Confirmed).

What is Fiscalnote Holdings Inc (NOTE) earnings time?

Fiscalnote Holdings Inc (NOTE) earnings time is at Nov 18, 2025, After Close (Confirmed).

Where can I see when companies are reporting earnings?

You can see which companies are reporting today on our designated earnings calendar.

What companies are reporting earnings today?

You can see a list of the companies which are reporting today on TipRanks earnings calendar.

What is NOTE EPS forecast?

NOTE EPS forecast for the fiscal quarter 2025 (Q3) is -0.06.

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