Fiscalnote Hldg Stock Price, News & Analysis

FiscalNote (NYSE: NOTE) has received notification from the NYSE that it no longer complies with the continued listing standard requiring a minimum average closing share price of $1.00 over a 30-day trading period. The company has six months to regain compliance while maintaining its NYSE listing and normal operations. FiscalNote serves over 4,000 global customers with AI-driven legal and regulatory insights and remains focused on increasing profitability, delivering product experiences, simplifying its portfolio, finding operational efficiencies, and reducing debt.

FiscalNote (NYSE: NOTE) has announced a partnership with ProRata.ai to license select political and policy content from its platforms RollCall.com and Factba.se. ProRata.ai, an AI search engine, will provide attribution and revenue sharing when FiscalNote's content is used to generate answers. The partnership joins other major content providers including The Atlantic, Axel Springer, Fortune, TIME, and Universal Music Group. This agreement expands FiscalNote's AI partnerships beyond existing relationships with OpenAI's ChatGPT, Google Bard, and Microsoft Bing, aiming to increase monetization opportunities and enhance its market presence.

FiscalNote Holdings (NYSE: NOTE) announced a leadership succession plan where CEO and Co-founder Tim Hwang will transition to Executive Chairman, while current President and COO Josh Resnik will become CEO, effective January 1, 2025. Under Hwang's nearly 12-year leadership, FiscalNote transformed from a startup into a leading AI-driven SaaS company serving over 4,000 global customers. In his new role, Hwang will focus on strategic initiatives, company culture, product innovation, and generative AI growth. Resnik, who has been key in advancing FiscalNote's product strategy and operational effectiveness, will retain his position as President while taking on CEO responsibilities.

FiscalNote (NYSE: NOTE) reported Q3 2024 financial results with total revenues of $29.4 million and adjusted EBITDA of $3.4 million, marking its fifth consecutive quarter of positive adjusted EBITDA. The company raised its full-year 2024 adjusted EBITDA guidance to approximately $9 million from $8 million, while revising revenue forecast to $120 million from $121 million. Q3 highlights include 93% subscription revenue, 79% gross margin, and $33.4 million in cash. The company announced a leadership transition, with CEO Tim Hwang moving to Executive Chairman and Josh Resnik becoming CEO effective January 2025. FiscalNote also secured a $5.5 million investment from Era Global Technologies.

FiscalNote (NYSE: NOTE) announced the sale of its South Korean subsidiary, Aicel Technologies, for $9.65 million, comprising $8.5 million in cash and $1.15 million in assumed convertible note. Aicel, acquired in July 2022 for approximately 800,000 shares, represented 1.6% ($2.0 million) of FiscalNote's GAAP revenue over the past 12 months through June 2024. The divestiture aims to deleverage the balance sheet, reduce business complexity, and improve operating efficiency by focusing on core operations. The company will use net cash proceeds to prepay senior debt and continues to evaluate additional divestiture opportunities.

FiscalNote (NYSE: NOTE), an AI-driven enterprise technology provider of policy and global intelligence, announced it will release its Third Quarter 2024 financial results on November 12, 2024 after market close. The company will host a conference call at 5:00 p.m. ET the same day to discuss quarterly results, full-year 2024 guidance, and business status. The earnings call will be accessible via phone and webcast, with replay options available through November 26, 2024 for phone access and indefinitely for webcast.

FiscalNote (NYSE: NOTE), an AI-driven enterprise SaaS provider, has appointed Can Babaoglu as Chief Product Officer. Babaoglu, with nearly 20 years of experience in product development and management, will lead the company's product strategy and innovation. He previously served as VP of Product at Casetext, where he led the development of CoCounsel, an AI legal assistant. At FiscalNote, Babaoglu will focus on leveraging AI and data science to create more valuable solutions for global customers in policy, regulatory, legal, and risk management sectors.

The appointment aims to accelerate FiscalNote's product-led growth, improve customer engagement, and drive revenue. As part of his compensation, Babaoglu will receive equity awards including restricted stock units and options, granted under FiscalNote's 2024 Inducement Equity Incentive Plan.

Efficient Capital Labs (ECL), a leading revenue-based financing provider for B2B SaaS companies in the South Asia-U.S. corridor, has secured $11 million in Series A funding. The round was co-led by QED Investors and 645 Ventures, with participation from existing and new investors. ECL plans to use the funds to expand into Singapore and other Southeast Asian markets.

The company has shown significant growth, originating over $70 million in financing and tripling its customer base to over 100 companies in 12 months. ECL's unique approach evaluates a business's revenue across all geographies, providing a holistic risk assessment for cross-border companies. The company has experienced strong growth in accounts receivable and plans to offer Singapore dollar-denominated loans by the end of 2024.

FiscalNote (NYSE: NOTE), an AI-driven enterprise SaaS provider of policy and global intelligence, has announced its participation in two upcoming investor conferences. The company will attend the Oppenheimer & Co. 27th Annual Technology, Internet & Communications Conference on August 14, 2024, where it will provide a virtual corporate update and host investor meetings. Additionally, FiscalNote will present and meet with investors at the H.C. Wainwright & Co. 26th Annual Global Investment Conference on September 9, 2024, in New York City.

Presentations and webcasts from these events will be accessible on the FiscalNote investor relations website. Interested parties can contact representatives at Oppenheimer & Co. and H.C. Wainwright & Co. for more information about the conferences.