Fiscalnote Hldg Stock Price, News & Analysis
Company Description
FiscalNote Holdings, Inc. (NYSE: NOTE) is a provider of AI-driven policy and regulatory intelligence solutions. The company focuses on helping organizations manage political and business risk by combining proprietary artificial intelligence technology, comprehensive policy and regulatory data, and decades of expert analysis. According to its public disclosures, FiscalNote has been building these capabilities since 2013 and serves thousands of customers worldwide.
FiscalNote’s business centers on providing software and data products that enable policy professionals and decision-makers to monitor, interpret, and act on legislative and regulatory developments. The company is home to a portfolio of products and brands, including PolicyNote, CQ, Roll Call, and VoterVoice, among others. These offerings are designed to support customers across sectors such as technology, healthcare, consumer goods, energy, insurance, manufacturing, and professional services, as described in recent company announcements.
Core platform and AI capabilities
FiscalNote describes PolicyNote as its flagship AI-powered platform for policy and regulatory intelligence. PolicyNote delivers curated, region-specific policy monitoring and analysis to help users track developments and respond efficiently. The platform integrates AI-generated summaries, forecasting, impact analysis, and drafting tools directly into daily monitoring and research workflows.
Within PolicyNote, FiscalNote has introduced a series of AI-powered capabilities, including:
- AI Summaries and Impact Summaries, which provide organization-specific analysis of how legislation, regulations, and research documents could affect a user’s operations.
- Bill Comparison,> which allows users to compare legislative and regulatory texts, track changes across versions, and identify key differences that shape policy outcomes.
- Similar Bills and Related Bills, which help users identify language reuse and policy themes across jurisdictions and sessions.
- AI-powered legislative drafting, social listening capabilities for early policy signals, and AI-powered tariff impact reports within a Tariff Tracker module, as outlined in the company’s operational updates.
These tools are intended to reduce the manual effort required to review dense policy documents, highlight what has changed between versions, and surface the implications of emerging policy developments.
PolicyNote platform strategy and customer migration
FiscalNote has publicly stated that PolicyNote is the cornerstone of its product-led growth strategy. The company has reported the completion of customer migration from a legacy FiscalNote platform to PolicyNote, describing this as a major milestone in unifying its offerings under a single, advanced AI-driven policy intelligence platform.
By consolidating previously separate tools into PolicyNote, FiscalNote aims to provide a more consistent, scalable, and intuitive customer experience. The company reports that this consolidation is designed to reduce friction in daily workflows and enable richer interaction with its global legislative and regulatory intelligence and insights. FiscalNote has also highlighted increased customer engagement on PolicyNote, including higher usage of AI-powered features such as Impact Summaries, Bill Comparison, and related analytical workflows.
Additional products and content brands
Beyond PolicyNote, FiscalNote’s portfolio includes CQ and Roll Call, which provide non-partisan policy journalism and analysis, and VoterVoice, a digital advocacy platform. The company has described VoterVoice as a tool that helps organizations influence policy by connecting with lawmakers and advocates, and it has integrated grassroots advocacy data from VoterVoice into PolicyNote to give users a unified view of grasstops and grassroots influence.
FiscalNote has also launched CQ&A, a live briefing series for CQ and Roll Call subscribers. CQ&A offers real-time access to journalists and editors covering federal policy developments, providing another channel for expert analysis alongside the company’s data and AI-driven tools.
Data infrastructure and specialized datasets
In addition to policy monitoring, FiscalNote has demonstrated its data engineering and AI capabilities through projects such as Epstein Unboxed, an AI-enhanced database consolidating documents related to the Epstein investigations. The company describes Epstein Unboxed as a fully structured archive that unifies emails, videos, legal filings, calendar entries, and other materials into a single, searchable resource. All files in this archive are processed for text extraction, indexing, and rapid streaming, and are enriched with AI-generated summaries, keyword tags, and entity extraction.
This project illustrates FiscalNote’s ability to reconstruct large, disorganized government document releases into organized, searchable datasets and to update those datasets as new materials are released by courts or government entities.
Customer base and geographic reach
FiscalNote reports that it serves thousands of customers worldwide, including global enterprises across multiple industries. Recent disclosures reference customers in sectors such as technology, healthcare, consumer goods, energy, insurance, manufacturing, and professional services. The company has also cited relationships with well-known brands in these sectors in connection with adoption of its Global Policy Dashboard within PolicyNote.
According to its public descriptions, FiscalNote maintains global offices in North America, Europe, and Asia, reflecting its focus on policy and regulatory intelligence across multiple regions and markets.
Revenue model and segment structure
Based on prior descriptions, FiscalNote generates revenue primarily through subscription-based access to its software platforms and data products, supplemented by advisory, advertising, and other revenue streams. The company has reported that subscription revenue represents the vast majority of total revenue and that it operates as a single reportable segment focused on policy and regulatory intelligence solutions.
FiscalNote tracks key performance indicators such as Annual Recurring Revenue (ARR) and Net Revenue Retention (NRR) to assess the performance of its subscription business. It also reports on the relative contribution of subscription versus advisory, advertising, and other revenue in its financial updates.
Capital structure and exchange listing
FiscalNote’s Class A common stock trades on the New York Stock Exchange under the symbol NOTE. The company has also listed warrants on the NYSE under the symbol NOTE.WS. In an 8-K filing, FiscalNote disclosed a reverse stock split of its Class A and Class B common stock at a ratio of 1-for-12, implemented via a Certificate of Amendment to its Certificate of Incorporation. Following this reverse split, the Class A common stock continued to trade under the symbol NOTE, with a new CUSIP number disclosed in the filing.
The company has also reported entering into financing arrangements, including a senior secured term loan maturing in 2029 and subordinated convertible debentures, as part of a broader balance sheet realignment. These arrangements include covenants and terms typical of such financings, as described in the relevant 8-K filings.
Regulatory reporting and governance
As a U.S. public company, FiscalNote files periodic reports and current reports with the U.S. Securities and Exchange Commission. Recent 8-K filings have covered topics such as quarterly financial results, financing transactions, amendments to executive employment agreements, retention awards, and changes to its change-in-control severance plan. The company has also filed a Form 12b-25 notification of late filing for a quarterly report, explaining that additional time was needed to reflect the impact of refinancing transactions.
These disclosures provide insight into FiscalNote’s financial condition, capital structure, and governance arrangements, while its press releases and product announcements describe the evolution of its AI-driven platforms and services.