FiscalNote Holdings Inc (FRA:A2O1)

Q2 2026 FiscalNote Holdings Inc Earnings Call Transcript

Aug 10, 2026 / 09:00 PM GMT

Release Date Price: €0.55

Transcript 10-Q8-K

Key Points

Positve

FiscalNote Holdings Inc (NOTE) reported a notable reduction in client churn, with quarterly net revenue retention improving to 98% from 89% in the first quarter, indicating that platform consolidation and retention efforts are taking effect.
The company's adjusted EBITDA margin improved significantly to 11.9% in Q2 2026, up from 5.1% in the first quarter, reflecting continued cost discipline and operating efficiencies.
FiscalNote Holdings Inc (NOTE) secured a major global technology company as a customer after an extended head-to-head trial, where its proprietary data proved superior to the client's in-house tool, leading to adoption of its PolicyNote MCP APIs.
The company's gross margins expanded, with adjusted gross margin reaching 88% in Q2 2026, up from 86% in the prior year, driven by cost discipline.
FiscalNote Holdings Inc (NOTE) is exploring new growth opportunities in adjacent areas such as appropriations and government spending, and is expanding its API and MCP server ecosystem to embed its data into AI workflows, which could drive future revenue growth.
The company's proprietary assets, including Congressional Quarterly and Roll Call, provide an unmatched, end-to-end data and intelligence offering that cannot be replicated by general-purpose AI, reinforcing its competitive moat.

Negative

FiscalNote Holdings Inc (NOTE) reported a year-over-year revenue decline of approximately 16% in Q2 2026, reflecting continued headwinds in the federal and broader public sector, a cautious macro environment, and earlier churn.
The company's annual recurring revenue (ARR) contracted to $74.9 million, down approximately $800,000 quarter-over-quarter and 13% year-over-year, indicating ongoing business contraction.
FiscalNote Holdings Inc (NOTE) lowered its full-year 2026 guidance to revenue of $75-$78 million and adjusted EBITDA of $9-$11 million, down from prior guidance of $80-$83 million and $14-$16 million, respectively, due to persistent softness.
The company is navigating the recent delisting from the New York Stock Exchange and is working with lenders through short-term forbearance agreements, highlighting significant capital structure and liquidity concerns.
Adjusted EBITDA for Q2 2026 came in at $2.3 million, approximately $200,000 below the company's guidance, and non-subscription revenue declined sharply by 59% year-over-year due to lower advertising and event revenue.
FiscalNote Holdings Inc (NOTE) recorded a non-cash goodwill impairment charge of $19.1 million in the quarter, contributing to a GAAP net loss of $27.8 million and reflecting a deterioration in the company's asset values.

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

NOTE.PK - FiscalNote Holdings Inc
Q2 2026 FiscalNote Holdings Inc Earnings Call
Aug 10, 2026 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good evening. My name is Holly, and I will be your conference operator today. At this time, I would like to welcome everyone to the Fiscal Note Holdings, Inc. Second quarter 2026 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 star followed by the number one on your telephone keypad. If you would like to withdraw your question, please press star followed by the number one again.

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

-------------------------------

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