FiscalNote Holdings, Inc. reported third-quarter 2026 revenue of $18.660 million, compared with $22.429 million in the same 2025 quarter, and a net loss of $5.881 million versus $24.855 million. Nine-month revenue was $58.266 million versus $73.204 million, while net loss was $77.328 million versus $42.376 million; the 2026 figure included a $54.700 million goodwill impairment.
Operating cash use for the nine months was $5.346 million, compared with $11.164 million a year earlier. Cash, cash equivalents and restricted cash totaled $10.844 million at September 30, 2026.
At September 30, 2026, FiscalNote did not meet minimum cash, annual recurring revenue and adjusted EBITDA covenants under its 2025 Senior Term Loan; none of these defaults had been waived. The lenders reserved rights that could include immediate repayment. Forbearance agreements on subordinated notes expired on August 22, 2026, leaving those notes in default and triggering a cross-default under the senior loan; $98.749 million of debt was classified as current. A $15.049 million mandatory prepayment is due no later than March 31, 2027.
FiscalNote Holdings, Inc. (NOTE) reported third-quarter 2026 revenue of $18.7 million, down 17% from $22.4 million a year earlier; revenue was within the $19 million to $20 million guidance range when adjusted for the in-quarter FrontierView divestiture. Adjusted EBITDA was $3.6 million, up from $2.2 million, and net loss was $5.9 million versus $24.9 million. Quarterly net revenue retention was 97%, compared with 98% in the prior-year quarter on a pro forma basis excluding FrontierView.
FiscalNote reaffirmed FY26 guidance and established a Q4 2026 forecast. It completed the FrontierView sale to Oxford Economics, saying the sale reduced balance-sheet debt and sharpened its focus on core policy and regulatory intelligence offerings. Net cash used in operating activities was $5.346 million in the first nine months of 2026, versus $11.164 million in 2025. At September 30, 2026, cash and cash equivalents were $10.208 million, while current maturities of long-term debt were $98.749 million. FiscalNote disclosed existing defaults under its indebtedness and said creditors may enforce rights to call an event of default; it also cited its ability to service repayment obligations and regain compliance with covenants and restrictions under existing debt agreements as risks.
FiscalNote Holdings, Inc. (NOTE) reports that Urgent Capital LLC received 267,923 Class A common shares on October 29, 2026, through an in-kind distribution from GPO FN Noteholder, LLC as payment pursuant to a profits interest. Key Compton, a director and FiscalNote's President and CEO, may be deemed to have voting and dispositive power over the shares held by Urgent Capital LLC. A separate holding entry reports 1,496,264 Class A common shares held directly by Key Compton; a separate indirect holding is beneficially owned by Global Public Offering Master Fund, L.P., over which Key Compton may also be deemed to have voting and dispositive power.
FiscalNote Holdings, Inc. (NOTE) President and CEO Key Compton reported that Urgent Capital LLC received 222,302 Class A shares on October 15, 2026, in a distribution from GPO FN Noteholder, LLC as an in-kind payment pursuant to Urgent Capital’s profits interest.
Urgent Capital beneficially owns the shares. Because Key Compton is a managing director of Urgent International Inc., which owns and operates Urgent Capital, he may be deemed to have voting and dispositive power over them. Key Compton also reported direct holdings of 1,496,264 Class A shares following the transaction.
FiscalNote Holdings, Inc. (NOTE) reported that Chief Accounting Officer Paul Donnell had 758 shares of Class A Common Stock withheld on August 5, 2026, to satisfy his tax obligation upon vesting of 2,159 restricted stock units. His direct holdings following the transaction were 33,320 shares. The reported per-share price was $0.1489.
FiscalNote Holdings, Inc. (NOTE) reported that Urgent Capital LLC received 193,479 Class A common shares on October 6, 2026, in a distribution from GPO FN Noteholder, LLC as an in-kind payment pursuant to a profits interest held by Urgent Capital LLC. Key Compton, the company’s President and CEO, is a managing director of Urgent International Inc., which owns and operates Urgent Capital LLC; he may be deemed to have voting and dispositive power over those shares. A separate holding entry reports 1,496,264 Class A shares held directly by Key Compton after the transaction.
FiscalNote Holdings, Inc. (NOTE) has completed the sale of its FrontierView business (Frontier Strategy Group, LLC) to Oxford Economics USA, Inc. Under an Equity Purchase Agreement, the buyer will pay a total value of up to approximately $9.4 million, consisting of $6.4 million in cash at closing and a potential earn-out of up to $3.0 million, subject to working capital adjustments and revenue targets. $1.0 million of the closing cash price was placed into escrow for post-closing adjustments and indemnification.
The company used proceeds from the FrontierView sale to prepay $4.95 million of term loans and $0.05 million of accrued interest under its financing agreement, and to pay transaction expenses. On an updated 2026 basis excluding FrontierView, FiscalNote now expects full-year 2026 revenue of $74–$76 million and adjusted EBITDA of $8–$10 million, while stating that expectations for its core Policy business are unchanged. Unaudited pro forma financial information shows the impact of this and prior divestitures, including the earlier $40.0 million cash sale of Oxford Analytica and Dragonfly.
FiscalNote Holdings, Inc. reports sharply weaker results and serious liquidity pressure for the six months ended June 30, 2026. Total revenues were $39.6M versus $50.8M a year earlier, with subscription revenue falling to $37.9M from $46.6M. The company posted a net loss of $71.4M and recorded $54.7M of goodwill impairment, driving its accumulated deficit to $943.6M.
Cash, cash equivalents, restricted cash, and short-term investments totaled $20.6M, while current liabilities were $148.3M, including $106.8M of current maturities of long‑term debt, producing a negative working capital balance of $135.0M (excluding cash and short‑term investments). Total debt was $122.1M.
The company has substantial doubt about its ability to continue as a going concern, citing historical operating losses, covenant breaches under its 2025 Senior Term Loan, delisting of its Class A stock from the NYSE, and cross‑default risk tied to subordinated convertible notes. Forbearance agreements with subordinated creditors currently extend only to August 21, 2026. Management plans include debt renegotiations, asset sales, and potential equity offerings, but acknowledges these plans do not yet alleviate substantial doubt.
FiscalNote Holdings, Inc. reported second quarter 2026 total revenues of $19.6 million, down 16% from $23.3 million a year earlier, but in line with its guidance range of $19.5–$20.5 million. Subscription revenue represented 96% of total revenues. Gross profit was $15.6 million with an 80% gross margin, while adjusted gross profit reached $17.3 million with an 88% adjusted gross margin.
Adjusted EBITDA was $2.3 million, slightly below guidance of $2.5 million and down from $2.8 million in Q2 2025, maintaining a 12% adjusted EBITDA margin. Net loss widened to $(27.8) million from $(13.3) million, driven largely by a $19.1 million Q2 goodwill impairment and $54.7 million in goodwill impairment for the first half. Operating expenses also reflected CEO severance and restructuring costs.
Cash and cash equivalents were $20.6 million at June 30, 2026, with net cash provided by operating activities of $0.9 million in the first half. The company cut its full-year 2026 outlook to $75–$78 million in revenues and $9–$11 million in adjusted EBITDA, from prior ranges of $80–$83 million and $14–$16 million. Net revenue retention improved to 98% from 89%, and management highlighted ongoing cost reductions, AI-driven product initiatives, and a continuing strategic review that may include further divestitures.
FiscalNote Holdings, Inc. President and CEO Josh Resnik reported three tax-withholding dispositions of Class A Common Stock on June 26, 2026, totaling 47,688 shares at $0.1121 per share. The shares were withheld to satisfy tax obligations tied to accelerated vesting of restricted stock units upon his departure.