FiscalNote beats Q3 outlook, raises FY2024 EBITDA to ~$9M, announces CEO succession

FiscalNote Holdings, Inc.

2024-Q3 EPS reported $0.17 revenue$90,797,000

Q3 revenue $29.4M, adjusted EBITDA $3.4M (both exceeded forecast); subscription revenue ~93% of total.
Raises FY2024 adjusted EBITDA to ~$9M from ~$8M; revises revenue to ~$120M due to Aicel divestiture.
CEO Tim Hwang transitions to Executive Chairman; President Josh Resnik appointed CEO effective Jan 1, 2025.
Divested Aicel Technologies for $9.65M; proceeds used to prepay senior debt.
Era Global Technologies invests $5.5M via convertible note; board continues strategic review.

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