FiscalNote Holdings, Inc. (NOTE): Results of Operations and Financial Condition
FiscalNote Holdings, Inc. (NOTE) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 FiscalNote Reports Second Quarter 2026 Financial Results Total Revenue In Line with Guidance; Adjusted EBITDA Slightly Below Guidance; Establishes Q3 2026 Forecast and Revises FY26 Guidance Company To Host Conference Call Today at 5:00 PM ET WASHINGTON, D. C. – Augus
How this was made
The 30-second read
Why it matters
The key trading inputs are the revised FY26 revenue and adjusted EBITDA ranges, the initial Q3 adjusted EBITDA forecast, and the KPI mix showing NRR stabilization alongside ARR contraction and higher operating expenses driven by a goodwill impairment charge.
Market read
Fresh guidance and KPI updates can drive repricing for an OTC growth name, especially around EBITDA ramp credibility and retention durability.
What to watch
Non-subscription revenue weakness and elongated sales cycles are explicitly cited; traders may underweight how much of the EBITDA ramp depends on back-half restructuring benefits.
Background
This is an SEC 8-K (Item 2.02) with Exhibit 99.1 covering FiscalNote’s Q2 2026 financial results, operational updates, and updated FY2026 plus initial Q3 2026 forecasts.
Ticker impact
FiscalNote reported Q2 2026 results and updated FY2026 guidance, including adjusted EBITDA below guidance and a new Q3 forecast.
Likely choppy reaction risk, with upside bias if investors focus on NRR stabilization and EBITDA ramp, downside if they focus on ARR decline and lower FY EBITDA.
The filing provides fresh, decision-relevant numbers: Q2 revenue and adjusted EBITDA vs guidance, NRR improvement to 98%, ARR down ~13%, and revised FY26 revenue and adjusted EBITDA ranges plus an initial Q3 EBITDA forecast.
Market effects
AI policy and regulatory intelligence peers may see read-across on enterprise retention and public-sector spending sensitivity.
Primarily US public-sector and federal spending sensitivity highlighted by management.
Global enterprise adoption of PolicyNote MCP APIs (e.g., Siemens) supports international demand narrative, but macro caution remains US-tilted.
Counterpoint
NRR improvement may not offset the magnitude of ARR decline and the non-cash goodwill impairment, so the market may discount stabilization as insufficient.
Key entities
- issuerFiscalNote Holdings, Inc.
OTC-listed company reporting Q2 2026 results and updating FY2026 and Q3 2026 guidance.
- executiveKey Compton
CEO and President appointed in June 2026, commenting on NRR stabilization and operating discipline.
- customer/partnerSiemens
Named as licensing PolicyNote MCP APIs and adopting agentic API offerings in the quarter.
