Here are the 10-K annual reports from FiscalNote Holding Inc A (NOTE) in our archive since June 2025, newest first, and each one links through to the document itself with the summary and the scores our analysis gives it.
A 10-K covers the audited annual report, with the full financial statements, so if you follow NOTE and want that one kind of document rather than the whole filing history, this is the page to keep. The company's other filings, of every form, are on the full NOTE filings page.
FiscalNote Holdings, Inc. is an AI-driven policy and regulatory intelligence company built around its PolicyNote platform, which aggregates legislative and regulatory data and overlays in-house AI and expert analysis. The company serves enterprises (including 46 of the Fortune 100), governments and nonprofits in more than 40 countries, with roughly 93% of 2025 revenue coming from recurring subscriptions.
FiscalNote generated $95.4 million of total revenue in 2025, down from $120.3 million in 2024, partly due to divestitures. It remains unprofitable, recording net losses of $81.8 million in 2025 and $62.5 million in 2024, excluding gains on business sales. The company is streamlining operations, cutting headcount from about 800 at the end of 2022 to 540 at the end of 2025 and taking further cost actions in early 2026. Key metrics include 2025 ARR of $84.1 million and net revenue retention of about 96% in the fourth quarter. Management highlights material risks: dependence on U.S. government customers and shutdowns, heavy use of debt, and potential NYSE delisting that could trigger defaults and even force restructuring or bankruptcy if not cured.