NYSE$NOTE
Fiscalnote Holdings Inc · Q3 2024 earnings
Q3 2024 earnings · · Investor relations
Briefing
Exceeded forecast and raised adjusted EBITDA for the full year.
FiscalNote reported Q3 2024 financial results, exceeding forecasts with total revenues of $29.4 million and adjusted EBITDA of $3.4 million. The company raised its full year 2024 adjusted EBITDA guidance and continues to focus on deleveraging its balance sheet and simplifying its product portfolio.
- Reported Q3 2024 total revenues of $29.4 million and adjusted EBITDA of $3.4 million, both exceeding previously provided forecast.
- Recorded fifth consecutive quarter of positive adjusted EBITDA.
- Raised full year 2024 adjusted EBITDA to approximately $9 million, from approximately $8 million, driven by increased focus on profitability, and revises full year 2024 revenues to approximately $120 million, from approximately $121 million, driven in part by the recent Aicel Technologies divestiture in Q4.
- Provided Q4 2024 guidance of $29 million in total revenues and $2.5 million in adjusted EBITDA.
Headline financials
Revenue & EPS history
FiscalNote · Revenue · Quarterly
$29.4M
Revenue by segment
FiscalNote · $30.1M total across 1 segment · Q3 2023
- Subscription Revenue$30.1M+15.3%100.0%
Forward guidance
FiscalNote provided financial guidance for full year 2024 and Q4 2024, reflecting management's expectations based on the most recent information available.
Tailwinds
- The forecast for the full year 2024 reflects further operating efficiencies.
- The forecast for the full year 2024 reflects the realization of improved operating leverage resulting from continued investments in product innovation and platform investments focused on enhanced customer experience to drive higher customer engagement and retention rates.
- The forecast of $9 million in adjusted EBITDA marks the Company’s first full calendar year of adjusted EBITDA profitability in the Company’s history.
- The Company expects to continue to drive deleveraging of its capital structure.
- The Company expects to reduce complexity of its product portfolio, and strengthen customer experience and retention rates through the ongoing optimized product strategy and roadmap through to the end of 2024 and in 2025.
Headwinds
- The forecast for the full year 2024 reflects slower non-subscription growth.
- The forecast for the full year 2024 reflects the divestiture of Aicel.
- Full Year 2024 total revenues are updated to approximately $120 million from a previous forecast of approximately $121 million.
- Q4 2024 total revenues are expected to be $29 million.
- Q4 2024 adjusted EBITDA is expected to be $2.5 million.
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 17 quarterly earnings reports · overlaid with Q3 2024
-3.8%
Avg return
Earnings day
-2.1%
Avg return
5 days after
-11.4%
Avg return
30 days after
28%
5 / 18 earnings
Positive
+25.7%
Q3 2022
Best reaction
-37.9%
Q3 2023
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -3.1% | +4.6% | — | |
| Q4 2025 | -1.5% | -42.9% | -72.3% | |
| Q3 2025 | +2.0% | -9.3% | -33.7% | |
| Q1 2025 | -2.8% | +5.1% | -23.1% | |
| Q4 2024 | -4.4% | +4.7% | -30.6% | |
| Q3 2024 | -17.8% | -14.4% | -3.7% | |
| Q2 2024 | -5.8% | -7.9% | -14.4% | |
| Q1 2024 | +4.1% | +24.6% | -6.6% | |
| Q4 2023 | -17.2% | -13.8% | -36.9% | |
| Q3 2023 | -37.9% | -39.4% | -11.4% | |
| Q2 2023 | -27.2% | -18.3% | -40.0% | |
| Q1 2023 | +15.5% | +22.4% | +74.5% | |
| Q4 2022 | +5.6% | +23.9% | +0.0% | |
| Q3 2022 | +25.7% | +22.6% | +17.3% | |
| Q2 2022 | -3.3% | +1.4% | -12.9% | |
| Q1 2022 | -0.2% | -0.2% | -0.4% | |
| Q4 2021 | -0.1% | +0.0% | +0.2% | |
| Q3 2021 | -0.2% | +0.1% | -0.1% |
Discussion
Share your read of this quarter. Sign-in carries your eToro identity.
Join the conversation
Sign in with eToro to post your read of this quarter and vote on others'.
Sign in with eToro