Q4 2024 FiscalNote Holdings Inc Earnings Call Transcript
Key Points
- FiscalNote Holdings Inc (NOTE) reported a significant improvement in adjusted EBITDA, reaching $9.8 million for 2024, a year-over-year increase of more than $17 million.
- The company successfully reduced its senior debt by more than 60% in 2024, demonstrating strong financial management.
- The launch of the PolicyNote platform in January has shown promising adoption trends and strong customer engagement.
- FiscalNote Holdings Inc (NOTE) achieved its first full year of positive adjusted EBITDA in 2024, marking a significant milestone.
- The company has streamlined operations and divested noncore businesses, leading to a more focused and efficient organization.
- FiscalNote Holdings Inc (NOTE) experienced a decline in annual recurring revenue (ARR) from $109 million in 2023 to $107 million in 2024 on a pro forma basis.
- The typical end-of-year ARR uptick did not materialize at the end of 2024, impacting 2025 revenue guidance.
- Net revenue retention decreased slightly from 99% in the prior year to 98% in 2024.
- The company anticipates market volatility, particularly in the private sector, which could impact corporate buying decisions and timelines.
- FiscalNote Holdings Inc (NOTE) reported a GAAP net loss of $13.4 million for Q4 2024, although this was significantly lower than the prior year period.
Ladies and gentlemen, good afternoon, and thank you for standing by. My name is Abby, and I will be your conference operator today. At this time, I would like to welcome everyone to the Fiscalnote Holdings Inc. Fourth Quarter and Full Year 2024 Financial Results Conference Call (Operator Instructions)
And I would now like to turn the conference over to the company. You may begin.
Good evening. My name is Bob Burrows, Investor Relations for FiscalNote's, and we are pleased to you all to join us. The purpose of today's call is to discuss FiscalNote's fourth quarter and full year 2024 financial results and 2025 outlook.
Joining me with prepared comments are Josh Resnik, President and CEO; and Jon Slabaugh, CFO and Chief Investment Officer. Other members of the senior management team will be available as needed during the Q&A session that will follow these prepared comments.
Please note today's press release and related current report on Form 8-K are available on the company
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