FiscalNote Holdings Inc (FRA:A2O1)

Q4 2025 FiscalNote Holdings Inc Earnings Call Transcript

Mar 19, 2026 / 09:00 PM GMT

Release Date Price: €0.78 (-6.02%)

Transcript 10-K8-K

Key Points

Positve

FiscalNote Holdings Inc (NOTE) achieved a significant milestone by transitioning all customers from the legacy platform to the new Policy Note platform, indicating strong engagement and improved retention.
The company has successfully reduced cash operating expenses by over 19% and plans to achieve positive free cash flow by the end of Q1 2027.
FiscalNote Holdings Inc (NOTE) is leveraging AI to enhance productivity, with 100% adoption of AI tooling across its engineering organization, resulting in faster development cycles.
The company is expanding into high-growth markets such as prediction markets and AI-driven consumption, which are expected to provide new revenue streams.
FiscalNote Holdings Inc (NOTE) has improved its operating leverage, with adjusted EBITDA margins expected to exceed 20% in 2026, doubling compared to the previous year.

Negative

The company experienced a decline in annual recurring revenue (ARR) and GAAP revenue due to strategic divestitures and non-renewals from legacy products.
Some large enterprise customers chose to cancel without migrating to the new Policy Note platform, partly due to macroeconomic pressures and internal deadlines.
FiscalNote Holdings Inc (NOTE) recorded a GAAP net loss of $22.9 million in Q4 2025, including a non-cash goodwill impairment charge of $12.4 million.
The company faces challenges in maintaining customer engagement and retention during the transition to the new platform, with some headwinds from broader economic conditions.
There is uncertainty regarding the timing of revenue contribution from new initiatives like prediction markets, which may take time to gain traction and generate significant revenue.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

NOTE.N - Fiscalnote Holdings Inc
Q4 2025 FiscalNote Holdings Inc Earnings Call
Mar 19, 2026 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, good afternoon. My name is Abby, and I'll be your conference operator today. At this time, I would like to welcome everyone to the Fiscal Noe Holdings Incorporated 4th quarter and full year 2025 financial results conference call.

All lines have been placed on mute to prevent any background noise.

After the speaker's remarks, there will be a question-and-answer session. If you would like to ask a question during this time, simply press followed by the number 1 on your telephone keypad. If you would like to withdraw your question, press 1 a second time.

Thank you, and with that I would now like to turn the call over to the company to begin the conference.

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