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Saturday 7 November 2026
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FiscalNote Holdings, Inc.
NOTE Technology Information Technology Services
FiscalNote Holdings, Inc.’s revenue for fiscal 2025 (year ended December 2025) was $95.4 million, down 20.7% from fiscal 2024.
- Revenue
- −15.8%
- EPS
- −10.4%
- Free cash flow
- +50.5%
- Total debt
- +2.14%
Quarter to June 2026, against a year earlier
0.01
0.01
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Analyst price targets
Free accountTen years at a glance Fiscal years to December
| Ten-year view | Analyst estimates Powerpack | |||||||||||||||||
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Group | Line | 2016 | 2017 | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | TTM Jun ’26 | Trend | 10 yrs | 2026e | 2027e | 2028e | Next 3/yr |
| Income, $m | ||||||||||||||||||
| Income, $m | Revenue | — | — | — | — | — | 83 | 114 | 133 | 120 | 95 | 84 | +3.6% | 77 | 77 | — | (10.0%) | |
| Gross margin, % | — | — | — | — | — | 73.70 | 71.93 | 69.66 | 78.68 | 77.78 | 79.35 | +4.1 pt | ||||||
| EBT | — | — | — | — | (9) | (117) | (222) | (115) | 10 | (66) | (120) | +48.9% | ||||||
| EBT margin, % | — | — | — | — | 0.00 | (141.49) | (194.71) | (86.88) | 8.36 | (69.70) | (142.31) | (69.7) pt | ||||||
| Net income | — | 0 | — | — | (9) | (109) | (218) | (115) | 10 | (65) | (119) | n/m | ||||||
| Per share, $ | ||||||||||||||||||
| Per share, $ | Revenue | — | — | — | — | 0.00 | 64.20 | 20.53 | 12.12 | 10.51 | 6.80 | 3.22 | n/m | |||||
| Earnings | — | — | — | — | (24.94) | (237.57) | (44.18) | (10.56) | 0.84 | (4.65) | (6.63) | (28.5%) | ||||||
| Cash flow | — | — | — | — | 0.00 | (28.68) | (13.11) | (3.24) | (0.46) | (0.82) | (0.29) | n/m | ||||||
| Capex | — | — | — | — | 0.00 | (4.31) | (2.05) | (0.73) | (0.78) | (0.51) | (0.27) | n/m | ||||||
| Free cash flow | — | — | — | — | 0.00 | (33.00) | (15.16) | (3.97) | (1.24) | (1.33) | (0.56) | n/m | ||||||
| Book value | — | — | — | — | (71.51) | (373.24) | 26.11 | 3.97 | 8.55 | 4.42 | 0.01 | n/m | ||||||
| Shares, m | — | — | — | — | 0 | 1 | 6 | 11 | 11 | 14 | 18 | +107.5% | ||||||
| Valuation, × | ||||||||||||||||||
| Valuation, × | P/E | — | — | — | — | — | 0.00 | 0.00 | 0.00 | 11.88 | 0.00 | 0.00 | 2.4 | |||||
| P/S | — | — | — | — | — | 0.00 | 3.65 | 1.04 | 1.22 | 0.22 | 0.00 | 1.2 | ||||||
| P/B | — | — | — | — | — | 0.00 | 2.87 | 3.17 | 1.50 | 0.33 | 0.95 | 1.6 | ||||||
| EV/Sales | — | — | — | — | — | 0.00 | 4.54 | 2.53 | 2.15 | 1.28 | 1.17 | 2.1 | ||||||
| EV/FCF | — | — | — | — | — | (12.20) | (6.15) | (7.73) | (18.24) | (6.55) | (6.73) | (10.2) | ||||||
| Cash, $m | ||||||||||||||||||
| Cash, $m | Operating cash flow | — | — | — | — | 0 | (37) | (73) | (35) | (5) | (11) | (8) | n/m | |||||
| Capex | — | — | — | — | — | (6) | (11) | (8) | (9) | (7) | (7) | +6.6% | ||||||
| Free cash flow | — | — | — | — | 0 | (43) | (84) | (43) | (14) | (19) | (15) | n/m | ||||||
| Balance, $m | ||||||||||||||||||
| Balance, $m | Working capital | — | — | — | — | 1 | (15) | 24 | (16) | 6 | 1 | (114) | +6.0% | |||||
| Net debt | — | — | — | — | 0 | 298 | 101 | 198 | 112 | 102 | 99 | +256.8% | ||||||
| Shareholders’ equity | — | — | — | — | (26) | (482) | 145 | 43 | 98 | 62 | 0 | n/m | ||||||
| Returns, % | ||||||||||||||||||
| Returns, % | ROA | — | — | — | — | (10.32) | (110.66) | (60.33) | (28.73) | 2.73 | (22.45) | (50.65) | (12.1) pt | |||||
| ROIC | — | — | — | — | 0.00 | 0.00 | (22.45) | (25.30) | (9.52) | (18.93) | (59.96) | (18.9) pt | ||||||
| ROE | — | — | — | — | 0.00 | 120.81 | 145.15 | (122.73) | 13.47 | (81.67) | (249.92) | (81.7) pt | ||||||
| People | ||||||||||||||||||
| People | Employees | — | — | — | — | 0 | 3 | 800 | 680 | 570 | 540 | — | n/m | |||||
| Revenue/emp, $m | — | — | — | — | 0.00 | 27.64 | 0.14 | 0.20 | 0.21 | 0.18 | — | n/m | ||||||
Negative figures in brackets.
estimates
Fiscal years to Dec 2025 · latest quarter Jun 2026 · fundamentals updated 26 Oct 2026
FiscalNote Holdings, Inc. vs peers in Information Technology Services (Q) = latest quarter vs a year earlier
| Company | Market cap | P/E | Fwd P/E | Revenue growth (Q) | EPS growth (Q) | FCF growth (Q) | Gross margin (Q) | EBIT margin (Q) | Compare |
|---|---|---|---|---|---|---|---|---|---|
| OPNW OpenWorld, Inc. | $7.7M | — (loss-making) | — (loss-making) | −57.79% (below 0%: shrinking) | n/m | −176.67% (below 0%: shrinking) | 53.51% | (29.14%) | Compare |
| CYCU Cycurion, Inc. | $7.2M | — (loss-making) | — (loss-making) | −3.36% (below 0%: shrinking) | n/m | +8.59% (above 0%: growing) | 29.10% | (50.16%) | Compare |
| ARBB ARB IOT Group Limited | $6.3M | — | — | — | — | −99.18% (below 0%: shrinking) | — | — | Compare |
| LZMH LZ Technology Holdings Limited | $6.3M | — | — | — | — | — | — | — | Compare |
| DTST Data Storage Corp. | $5.6M | 1.3× | — (loss-making) | +9.30% (above 0%: growing) | n/m | −332.80% (below 0%: shrinking) | 47.00% | (357.63%) | Compare |
| GLE Global Engine Group Holding Limited | $5.1M | — | — | — | — | −499.14% (below 0%: shrinking) | — | — | Compare |
| NOTE FiscalNote Holdings, Inc. | $4.1M | — (loss-making) | — (loss-making) | −15.83% (below 0%: shrinking) | n/m | +50.53% (above 0%: growing) | 79.69% | (123.03%) | |
| HLSQ Tessera Defense and Homeland Security Inc. | $3.2M | — (loss-making) | — | — | n/m | +80.63% (above 0%: growing) | 29.22% | (1,630.72%) | Compare |
| SGRX SANGRIX Inc. | $2.0M | — (loss-making) | — (loss-making) | −91.80% (below 0%: shrinking) | −28,100.00% (below 0%: shrinking) | −4,360.41% (below 0%: shrinking) | (56.88%) | 0.00% | Compare |
| Median of peers | $6.0M | — | — | −30.57% | — | −176.67% | 29.22% | (50.16%) |