FiscalNote Holdings Inc (OTCPK:NOTE)

Q3 2025 FiscalNote Holdings Inc Earnings Call Transcript

Nov 6, 2025 / 10:00 PM GMT

Release Date Price: $3 (-9.37%)

Transcript 10-Q

Key Points

Positve

FiscalNote Holdings Inc (NOTE) reported Q3 2025 revenue of $22.4 million, in line with guidance, and adjusted EBITDA of $2.2 million, exceeding guidance.
The company achieved a fifth consecutive quarter of adjusted EBITDA margins at or above 10%, reflecting strong cost discipline and operating leverage.
Corporate new logo sales showed continued momentum, with win rates among enterprise clients improving by 400 basis points quarter over quarter.
The company successfully transitioned the majority of its legacy platform users to the new PolicyNote platform, enhancing customer engagement and retention.
FiscalNote Holdings Inc (NOTE) strengthened its capital structure by extending debt maturities by four years, providing long-term flexibility to execute its strategy.

Negative

Total revenue for Q3 2025 was $7 million lower compared to the prior year, primarily due to divestitures.
Annual recurring revenue (ARR) declined by $7.4 million year-over-year on a pro forma basis.
The federal sector experienced ongoing volatility, including disruptions from an extended government shutdown, impacting the company's public sector business.
Operating expenses in Q3 2025 included $3.1 million of non-cash charges and $4.3 million of cash costs related to refinancing activities and other non-recurring costs.
The company does not provide specific guidance on ARR growth, leaving uncertainty about the timeline for renewed year-over-year growth.

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

NOTE.N - Fiscalnote Holdings Inc
Q3 2025 FiscalNote Holdings Inc Earnings Call
Nov 06, 2025 / 10:00PM GMT

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Presentation
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Unidentified_1 [1]
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Good evening. My name is Tamika, and I will be your conference operator today. At this time, I would like to welcome everyone to the Fiscal Note Holdings Incorporated 3rd quarter 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 star, followed by the number 1 on your telephone keypad.

If you would like to withdraw your question, press star, followed by the number one.

Thank you. With that, I will now turn the call over to the company to begin. Please go ahead.

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