FiscalNote beats Q4 adjusted EBITDA, divests Board.org for up to $103M, guides 2024 EBITDA positive

FiscalNote Holdings, Inc.

Q4 2023 revenue $34.3M (+9% YoY); adjusted EBITDA $3.0M, above guidance of $2.5M (157% improvement vs -$5.2M in Q4 2022).
Full-year 2023 revenue $132.6M (+17% YoY); adjusted EBITDA loss -$7.5M, improved 69% from -$24.5M in 2022.
Divested Board.org for up to $103M total ($95M cash); used $65.7M to repay senior debt, resulting in ~$45M cash post-close.
FY 2024 guidance: GAAP revenue $123-127M; adjusted EBITDA $7-9M; Q1 2024 revenue ~$31M, adjusted EBITDA ~$1M.
Board.org contributed ~$14M revenue and ~$5M EBITDA in 2023; sunset products add ~$17M revenue not expected to recur after March 11.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

FiscalNote Holdings, Inc. reported financial results for the year ended December 31, 2023.

Period: the year ended December 31, 2023
Result: reported results

Exact text from the filing

On March 12, 2024, FiscalNote Holdings, Inc. (the “Company”) issued a press release announcing its financial results for the year ended December 31, 2023.

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FiscalNote Holdings, Inc. filing history →

Source: SEC EDGAR

accession 0000950170-24-029986

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