NYSE$NOTE

Fiscalnote Holdings Inc · Q3 2025 earnings

Q3 2025 earnings · · After market close · Investor relations

Briefing

FiscalNote reported Q3 2025, revenue of $120M, net loss of $25M.

For Q3 2025, FiscalNote reported revenue of $120M, a net loss of $25M. Management discusses segment performance, capital allocation, and outlook in the earnings filing.

  • Revenue $120M.
  • Net loss $25M.
  • FiscalNote highlights liquidity, operations, and 2026 priorities.

Headline financials

Total Revenue

$22.4M

Previous: $29.4M-23.8%
EPS (adj)

-$1.73

Previous: -$0.11-1472.7%
Annual Recurring Revenue

$84.8M

Previous: $110M-22.6%
Pro Forma ARR

$84.8M

Previous: $92.2M-8.0%
Net Revenue Retention

98.0%

No prior period
Pro Forma NRR

98.0%

No prior period
Adjusted Gross Profit

$19.4M

Previous: $25.4M-23.6%
Adjusted Gross Margin

87.0%

Previous: 86.0%+1.2%
Adjusted EBITDA

$2.2M

Previous: $3.4M-35.3%
Adjusted EBITDA Margin

10.0%

Previous: 12.0%-16.7%
Net Income

-$24.9M

Previous: -$14.9M-66.4%
Operating Income

-$9.74M

Previous: -$6.81M-43.0%
Gross Profit

$17.7M

Previous: $26K+67803.8%

Revenue & EPS history

FiscalNote · Revenue · Quarterly

$22.4M

Q3 2025-23.8%vs Q3 2024
Beat estimate in 6 of 14 quarters(43%)
ActualEstimate

Revenue by segment

FiscalNote · $30.1M total across 1 segment · Q3 2023

  • Subscription Revenue
    $30.1M+15.3%

Forward guidance

The release discusses FiscalNote's outlook for upcoming periods, including capital allocation, operating priorities, and market risks, without relying solely on numeric EPS bridges.

Tailwinds

  • FiscalNote cites operational execution and demand trends supporting the outlook.
  • Balance sheet and liquidity actions aim to fund growth and returns.

Headwinds

  • GAAP profitability remained under pressure in Q3 2025.
  • Macro, pricing, and input-cost volatility could pressure margins.
  • Segment mix and one-time items may affect quarter-to-quarter comparability.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 16 quarterly earnings reports · overlaid with Q3 2025

Historical avgQ3 2025

-3.8%

Avg return

Earnings day

+0.3%

Avg return

5 days after

-7.6%

Avg return

30 days after

28%

5 / 18 earnings

Positive

+25.7%

Q3 2022

Best reaction

-37.9%

Q3 2023

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q4 2025-1.5%
Q1 2026-3.1%+4.6%
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%

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