secwatch.observer — SEC 8-K summary
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Issuer:     FiscalNote Holdings, Inc. (NOTE)
CIK:        0001823466
Form:       8-K
Filed at:   2024-03-12T23:59:59+00:00
Accession:  0000950170-24-029986
Event type: earnings
Sentiment:  positive
Materiality: 0.85
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1823466/000095017024029986/0000950170-24-029986-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1823466/000095017024029986/note-20240312.htm
  HTML page:      https://secwatch.observer/filing/0000950170-24-029986

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer