FiscalNote Holdings, Inc. reported fourth‑quarter revenue of $22.2 million and an adjusted EBITDA of $2.5 million, surpassing analyst expectations. For the full year ended December 31 2025, the company posted revenue of $95.4 million, a decline of 21% year‑over‑year, while adjusted EBITDA for the year was not disclosed but the quarterly figure indicates stronger profitability than anticipated.
New corporate‑logo bookings grew 39% year‑over‑year, and the share of multi‑year contracts among private‑sector customers rose sharply from 17% to 40%. The company also completed the migration of its legacy customers to the PolicyNote platform, reporting stronger usage and retention metrics as a result of the transition.
Management highlighted a planned workforce reduction of roughly 25% and projected positive free‑cash‑flow on a trailing‑twelve‑month basis by the end of March 2027, citing lower operating costs and a more efficient product‑delivery model. The company’s focus on cost discipline and platform consolidation underpins these outlooks.
FiscalNote’s guidance for 2026 remains unchanged: full‑year revenue is expected to fall between $80 million and $83 million, and adjusted EBITDA between $14 million and $16 million, reflecting confidence in maintaining profitability while navigating the current market environment.
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