NOTE Chart
About

FiscalNote Holdings, Inc. operates as a technology provider for global policy and market intelligence in North America, Europe, Australia, and Asia. The company delivers legal and policy insights in political, regulatory, and macroeconomic environments by combining artificial intelligence and other technologies with analytics and workflow tools. It also provides data and information that enables customers to manage policy change, address regulatory developments, and mitigate policy risk; and offers intelligence through its suite of public policy and issues management products, as well as provides powerful tools to manage workflows, advocacy campaigns, and constituent relationships. The company serves global enterprises, midsized and smaller businesses, government institutions, trade groups, and nonprofits. FiscalNote Holdings, Inc. was founded in 2013 and is headquartered in Washington, the District of Columbia.

Fundamentals
Scroll to Statements
Sector Technology Industry Information Technology S Market Cap 17.60M
Enterprise Value 140.39M Income -55.76M Sales 102.67M
Book/sh 5.13 Cash/sh 1.99 Dividend Yield —
Payout 0.00% Employees 412 IPO —
P/E — Forward P/E -1.41 PEG —
P/S 0.17 P/B 0.22 P/C —
EV/EBITDA -5.20 EV/Sales 1.37 Quick Ratio 0.86
Current Ratio 1.01 Debt/Eq 205.22 LT Debt/Eq —
EPS (ttm) -4.39 EPS next Y -0.80 EPS Growth —
Revenue Growth -23.80% Earnings 2026-03-12 ROA -7.49%
ROE -64.09% ROIC — Gross Margin 78.57%
Oper. Margin -43.42% Profit Margin -54.31% Shs Outstand 15.02M
Shs Float 9.30M Short Float 29.75% Short Ratio 7.53
Short Interest — 52W High 19.20 52W Low 0.80
Beta 0.61 Avg Volume 503.21K Volume 227.23K
Target Price $8.25 Recom Strong_buy Prev Close $1.06
Price $1.12 Change 5.66%
Valuation Models

Price estimates from analyst targets and simple models.

1. Analyst consensus
$8.25
Mean price target
2. Current target
$1.12
Latest analyst target
3. DCF / Fair value
$-18.89
Simplified: (Free Cash Flow ÷ Shares) × 18 (P/FCF multiple). Not a …
Ratings
Current target
$1.12
Low
$5.00
High
$11.00
Mean
$8.25

Latest analyst rating changes

Date Action Analyst Rating Change Price Target
2025-08-12 main D. Boral Capital Buy → Buy $4
2025-05-13 main D. Boral Capital Buy → Buy $4
2025-05-01 init Ladenburg Thalmann — → Buy $3
2025-03-17 main D. Boral Capital Buy → Buy $4
2025-03-14 main Roth MKM Buy → Buy $2
2025-03-14 main B. Riley Securities Buy → Buy $2
2025-02-25 main D. Boral Capital Buy → Buy $4
2025-01-16 main D. Boral Capital Buy → Buy $4
2024-11-13 main D. Boral Capital Buy → Buy $4
2024-11-13 main B. Riley Securities Buy → Buy $2
2024-11-01 main EF Hutton Buy → Buy $4
2024-10-28 main EF Hutton Buy → Buy $4
2024-08-12 main B. Riley Securities Buy → Buy $2
2024-08-12 main Northland Capital Markets Outperform → Outperform $5
2024-08-09 main DA Davidson Neutral → Neutral $1
2024-05-10 main EF Hutton Buy → Buy $4
2024-03-14 reit EF Hutton Buy → Buy $5
2024-03-13 main EF Hutton Buy → Buy $5
2024-03-13 main DA Davidson Neutral → Neutral $2
2024-03-13 main B. Riley Securities Buy → Buy $2
Insider Transactions
Date Shares Value Url Text Insider Position Transaction Start Date Ownership
0 4090 4901.0 — Sale at price 1.20 per share. HWANG TIMOTHY T. Director and Beneficial Owner of more than 10% of a Class of Security — 2026-02-02 00:00:00 I
1 1716 2761.0 — Sale at price 1.61 per share. HWANG TIMOTHY T. Director and Beneficial Owner of more than 10% of a Class of Security — 2026-01-02 00:00:00 I
2 3376 4220.0 — Stock Award(Grant) at price 1.25 per share. RESNIK JOSHUA W Chief Executive Officer — 2025-12-31 00:00:00 D
3 5590 10696.0 — Sale at price 1.91 per share. HWANG TIMOTHY T. Director and Beneficial Owner of more than 10% of a Class of Security — 2025-12-02 00:00:00 I
4 3424 — — Stock Award(Grant) at price 0.00 per share. JAIN MANOJ Director and Beneficial Owner of more than 10% of a Class of Security — 2025-12-01 00:00:00 D
5 5136 — — Stock Award(Grant) at price 0.00 per share. SWEENEY BRANDON Director — 2025-12-01 00:00:00 D
6 3424 — — Stock Award(Grant) at price 0.00 per share. NILSSON KEITH Director — 2025-12-01 00:00:00 D
7 6278 — — Stock Award(Grant) at price 0.00 per share. SEDGLEY ANNA Director — 2025-12-01 00:00:00 D
8 7695 19961.0 — Sale at price 2.59 per share. HWANG TIMOTHY T. Director and Beneficial Owner of more than 10% of a Class of Security — 2025-11-06 00:00:00 I
9 10551 47406.0 — Sale at price 4.24 - 4.80 per share. HWANG TIMOTHY T. Director and Beneficial Owner of more than 10% of a Class of Security — 2025-10-01 00:00:00 I
Financials
Line Item2024-12-312023-12-312022-12-312021-12-31
TaxEffectOfUnusualItems3.54M-3.95M-583.97K-86.63K
TaxRateForCalcs0.050.210.010.07
NormalizedEBITDA-12.10M-37.79M-66.06M-34.84M
TotalUnusualItems65.61M-18.79M-38.93M-1.29M
TotalUnusualItemsExcludingGoodwill65.61M-18.79M-38.93M-1.29M
NetIncomeFromContinuingOperationNetMinorityInterest9.52M-115.46M-218.26M-109.42M
ReconciledDepreciation19.87M28.72M20.78M16.38M
ReconciledCostOfRevenue34.22M40.91M37.56M29.41M
EBITDA53.51M-56.58M-104.99M-36.13M
EBIT33.64M-85.30M-125.77M-52.51M
NetInterestIncome-23.59M-29.94M-95.74M-64.80M
InterestExpense23.59M29.94M95.74M64.80M
NormalizedIncome-52.55M-100.62M-179.91M-108.21M
NetIncomeFromContinuingAndDiscontinuedOperation9.52M-115.46M-218.26M-109.42M
TotalExpenses152.21M199.09M199.56M133.80M
RentExpenseSupplemental0.001.82M
TotalOperatingIncomeAsReported-31.94M-97.74M-88.19M-55.58M
DilutedAverageShares11.44M10.95M5.54M10.81M
BasicAverageShares11.44M10.95M5.54M10.81M
DilutedEPS0.84-10.56-44.16-28.39
BasicEPS0.84-10.56-44.16-28.39
DilutedNIAvailtoComStockholders9.52M-115.46M-244.83M-306.93M
NetIncomeCommonStockholders9.52M-115.46M-244.83M-306.93M
PreferredStockDividends26.57M197.51M
NetIncome9.52M-115.46M-218.26M-109.42M
NetIncomeIncludingNoncontrollingInterests9.52M-115.46M-218.26M-109.42M
NetIncomeContinuousOperations9.52M-115.46M-218.26M-109.42M
TaxProvision536.00K223.00K-3.25M-7.89M
PretaxIncome10.05M-115.24M-221.51M-117.31M
OtherIncomeExpense65.59M-18.86M-39.98M-1.63M
OtherNonOperatingIncomeExpenses-26.00K-68.00K-1.04M-333.00K
SpecialIncomeCharges72.02M-34.77M-51.68M-4.70M
GainOnSaleOfBusiness72.02M0.00
OtherSpecialCharges3.47M37.58M
ImpairmentOfCapitalAssets0.0032.06M0.00
RestructuringAndMergernAcquisition-4.00K-767.00K14.10M4.70M
GainOnSaleOfSecurity-6.41M15.98M12.75M3.40M
NetNonOperatingInterestIncomeExpense-23.59M-29.94M-95.74M-64.80M
InterestExpenseNonOperating23.59M29.94M95.74M64.80M
OperatingIncome-31.95M-66.44M-85.79M-50.88M
OperatingExpense108.04M140.97M151.67M97.36M
DepreciationAmortizationDepletionIncomeStatement9.93M11.51M10.45M9.36M
DepreciationAndAmortizationInIncomeStatement9.93M11.51M10.45M9.36M
Amortization9.93M11.51M10.45M9.36M
AmortizationOfIntangiblesIncomeStatement9.93M11.51M10.45M9.36M
ResearchAndDevelopment12.83M18.19M20.74M24.02M
SellingGeneralAndAdministration85.29M111.27M120.48M63.98M
SellingAndMarketingExpense35.05M45.72M42.68M29.68M
GeneralAndAdministrativeExpense50.24M65.55M77.80M34.31M
OtherGandA50.24M65.55M77.80M32.49M
RentAndLandingFees0.001.82M
SalariesAndWages15.96M14.63M
GrossProfit76.10M74.53M65.87M46.48M
CostOfRevenue44.17M58.12M47.89M36.44M
TotalRevenue120.27M132.65M113.77M82.91M
OperatingRevenue117.63M127.33M113.77M82.91M
Line Item2023-12-31
TreasurySharesNumber0.00
OrdinarySharesNumber12.59M10.83M10.95M10.81M
ShareIssued12.59M10.83M10.95M10.81M
NetDebt118.26M205.96M101.66M299.01M
TotalDebt172.95M251.64M197.87M333.27M
TangibleBookValue-147.21M-248.48M-169.71M-796.02M
InvestedCapital244.91M265.87M306.74M-150.87M
WorkingCapital5.93M-15.85M23.89M-15.17M
NetTangibleAssets-147.21M-248.48M-169.71M-346.81M
CapitalLeaseObligations25.88M29.23M35.82M2.09M
CommonStockEquity97.83M43.46M144.69M-482.05M
PreferredStockEquity449.21M
TotalCapitalization244.87M265.77M306.67M284.78M
TotalEquityGrossMinorityInterest97.83M43.46M144.69M-32.83M
StockholdersEquity97.83M43.46M144.69M-32.83M
GainsLossesNotAffectingRetainedEarnings4.79M-622.00K-785.00K-631.00K
OtherEquityAdjustments4.79M-622.00K-785.00K-631.00K
RetainedEarnings-806.90M-816.42M-700.74M-481.41M
AdditionalPaidInCapital899.93M860.49M846.21M0.00
CapitalStock15.00K12.00K13.00K449.21M
CommonStock15.00K12.00K13.00K0.00
PreferredStock0.00449.21M
TotalLiabilitiesNetMinorityInterest228.37M327.10M288.47M411.33M
TotalNonCurrentLiabilitiesNetMinorityInterest177.11M261.45M226.35M341.86M
OtherNonCurrentLiabilities2.97M5.17M14.74M9.91M
DerivativeProductLiabilities2.46M4.76M18.89M0.00
NonCurrentDeferredLiabilities2.16M3.05M1.63M12.25M
NonCurrentDeferredRevenue222.00K875.00K918.00K528.00K
NonCurrentDeferredTaxesLiabilities1.93M2.18M714.00K3.48M
LongTermDebtAndCapitalLeaseObligation169.53M248.47M191.09M319.70M
LongTermCapitalLeaseObligation22.49M26.16M29.11M2.09M
LongTermDebt147.04M222.31M161.98M317.61M
CurrentLiabilities51.25M65.65M62.11M69.47M
OtherCurrentLiabilities2.27M3.01M2.77M6.97M
CurrentDeferredLiabilities37.10M46.56M38.82M33.14M
CurrentDeferredRevenue37.10M46.56M38.82M33.14M
CurrentDebtAndCapitalLeaseObligation3.42M3.17M6.78M13.57M
CurrentCapitalLeaseObligation3.39M3.07M6.71M0.00
CurrentDebt36.00K105.00K68.00K13.57M
OtherCurrentBorrowings36.00K105.00K68.00K13.57M
PayablesAndAccruedExpenses8.46M12.91M13.74M15.80M
Payables8.46M12.91M13.74M15.80M
AccountsPayable8.46M12.91M13.74M15.80M
TotalAssets326.20M370.56M433.16M378.49M
TotalNonCurrentAssets269.01M320.76M347.15M324.19M
OtherNonCurrentAssets100.00K633.00K442.00K
NonCurrentDeferredAssets3.20M4.26M3.98M2.71M
GoodwillAndOtherIntangibleAssets245.04M291.94M314.40M313.98M
OtherIntangibleAssets85.98M104.24M120.04M125.21M
Goodwill159.06M187.70M194.36M188.77M
NetPPE20.67M23.92M28.33M7.51M
AccumulatedDepreciation-7.19M-6.32M-4.97M-3.92M
GrossPPE27.86M30.24M33.30M11.43M
Leases9.54M9.53M9.53M9.51M
OtherProperties15.82M18.28M21.50M136.00K
MachineryFurnitureEquipment2.51M2.43M2.27M1.78M
Properties0.000.000.000.00
CurrentAssets57.19M49.80M86.00M54.30M
OtherCurrentAssets2.91M2.52M2.76M7.33M
CurrentDeferredAssets3.02M3.33M2.79M2.79M
RestrictedCash640.00K849.00K835.00K841.00K
PrepaidAssets2.55M2.59M4.32M1.80M
Receivables13.46M16.93M14.91M11.17M
AccountsReceivable13.46M16.93M14.91M11.17M
CashCashEquivalentsAndShortTermInvestments34.61M23.59M60.39M32.17M
OtherShortTermInvestments5.80M7.13M0.00
CashAndCashEquivalents28.81M16.45M60.39M32.17M
Line Item2024-12-312023-12-312022-12-312021-12-31
FreeCashFlow-14.18M-43.43M-83.99M-42.62M
RepurchaseOfCapitalStock0.00-88.00K0.00
RepaymentOfDebt-70.81M-107.00K-189.10M0.00
IssuanceOfDebt6.30M11.50M166.01M61.16M
IssuanceOfCapitalStock12.63M
CapitalExpenditure-8.88M-7.94M-11.37M-5.57M
InterestPaidSupplementalData14.73M20.68M35.16M4.65M
IncomeTaxPaidSupplementalData274.00K55.00K55.00K233.00K
EndCashPosition29.45M17.30M61.22M33.01M
BeginningCashPosition17.30M61.22M33.01M45.02M
EffectOfExchangeRateChanges-284.00K-189.00K-449.00K-76.00K
ChangesInCash12.44M-43.73M28.66M-11.94M
FinancingCashFlow-71.43M12.08M111.53M74.31M
CashFlowFromContinuingFinancingActivities-71.43M12.08M111.53M74.31M
NetOtherFinancingCharges-7.40M129.76M
ProceedsFromStockOptionExercised474.00K684.00K4.95M516.00K
NetPreferredStockIssuance12.63M
PreferredStockIssuance12.63M
NetCommonStockIssuance0.00-88.00K0.00
CommonStockPayments0.00-88.00K0.00
NetIssuancePaymentsOfDebt-64.51M11.39M-23.09M61.16M
NetLongTermDebtIssuance-64.51M11.39M-23.09M61.16M
LongTermDebtPayments-70.81M-107.00K-189.10M0.00
LongTermDebtIssuance6.30M11.50M166.01M61.16M
InvestingCashFlow89.17M-20.32M-10.24M-49.20M
CashFlowFromContinuingInvestingActivities89.17M-20.32M-10.24M-49.20M
NetInvestmentPurchaseAndSale0.00-7.37M0.00
PurchaseOfInvestment0.00-7.37M0.00
NetBusinessPurchaseAndSale98.05M-5.01M1.12M-43.63M
SaleOfBusiness98.05M0.001.12M
PurchaseOfBusiness0.00-5.01M-43.63M
CapitalExpenditureReported-8.88M-7.94M-11.37M-5.57M
OperatingCashFlow-5.30M-35.49M-72.62M-37.05M
CashFlowFromContinuingOperatingActivities-5.30M-35.49M-72.62M-37.05M
ChangeInWorkingCapital-3.87M-10.18M-17.10M-848.00K
ChangeInOtherWorkingCapital838.00K3.92M4.87M4.44M
ChangeInOtherCurrentLiabilities-3.35M-6.19M-11.82M-2.51M
ChangeInOtherCurrentAssets228.00K-180.00K-395.00K0.00
ChangeInPayablesAndAccruedExpense-1.11M-6.43M-2.11M3.95M
ChangeInPrepaidAssets592.00K3.42M422.00K-3.60M
ChangeInReceivables-1.07M-4.73M-8.07M-3.13M
ChangesInAccountReceivables1.84M-287.00K-3.94M1.07M
OtherNonCashItems16.86M17.79M82.00M65.62M
StockBasedCompensation17.95M27.06M38.05M1.01M
UnrealizedGainLossOnInvestmentSecurities6.41M-15.98M-12.75M
AssetImpairmentCharge148.00K32.49M142.00K254.00K
DeferredTax-162.00K72.00K-3.08M-6.63M
DeferredIncomeTax-162.00K72.00K-3.08M-6.63M
DepreciationAmortizationDepletion19.87M28.72M20.78M16.38M
DepreciationAndAmortization19.87M28.72M20.78M16.38M
AmortizationCashFlow18.63M27.37M19.55M15.20M
AmortizationOfIntangibles18.63M27.37M19.55M15.20M
Depreciation1.24M1.35M1.24M1.18M
OperatingGainsLosses-72.02M37.58M-3.41M
GainLossOnInvestmentSecurities-12.75M-3.41M
GainLossOnSaleOfBusiness-72.02M0.00
NetIncomeFromContinuingOperations9.52M-115.46M-218.26M-109.42M
SEC Filings

Recent 10-K, 10-Q, 8-K, and Form 4 (insider) filings.

Public Trades for NOTE
Date User Asset Broker Type Position Size Entry Price Patterns