FiscalNote Holdings, Inc.

FiscalNote Holdings, Inc. Earnings Recaps

NOTE 1 recap
Q3 2025 Nov 8, 2025

FiscalNote Holdings delivered stable financial performance in Q3 2025, with revenue of $22.4 million and adjusted EBITDA exceeding expectations, signaling strong operational efficiency and growth momentum.

Key takeaways
  • Revenue of $22.4 million met guidance, while adjusted EBITDA reached $2.2 million, achieving a solid 10% margin for the fifth consecutive quarter.
  • Operating expenses reduced by approximately 8% pro forma, reflecting ongoing cost discipline and improved operational efficiency.
  • Annual recurring revenue (ARR) stabilized, with notable increases in enterprise win rates and contract values, indicating enhanced sales performance and revenue visibility.
  • Significant product innovation with over 35 major enhancements to the PolicyNote platform this year, contributing to user engagement and retention.
  • Balance sheet extended with four-year maturity enhancements, strengthening financial flexibility for future growth initiatives.
Full recap