---
schema_version: "secwatch.filing_event.v1"
accession: "0000950170-25-069323"
form_type: "8-K"
ticker: "NOTE"
cik: "0001823466"
company_name: "FiscalNote Holdings, Inc."
filed_at: "2025-05-12T23:59:59+00:00"
generated_at: "2026-05-22T00:17:31.000262+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# FiscalNote Q1 revenue $27.5M, adj. EBITDA $2.8M beat; reaffirms FY guidance

## Summary
- Q1 revenue $27.5M (-14% YoY); adjusted EBITDA $2.8M vs $1.2M YoY, both exceeding forecasts.
- Subscription revenue $25.2M (92% of total), down 15% YoY primarily due to divestitures.
- ARR $87.7M (-20% as reported; -7% pro forma); NRR 93%.
- Reaffirms FY25 guidance: revenue $94-100M, adj. EBITDA $10-12M; Q2 forecast $22-24M revenue, ~$2M EBITDA.
- Completed sale of Oxford Analytica/Dragonfly for $40M; signed deal to sell TimeBase for $6.5M.

## SEC filing metadata
- accession: 0000950170-25-069323
- form_type: 8-K
- ticker: NOTE
- cik: 0001823466
- company_name: FiscalNote Holdings, Inc.
- filed_at: 2025-05-12T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1823466/000095017025069323/0000950170-25-069323-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1823466/000095017025069323/note-20250512.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0000950170-25-069323
- JSON: https://secwatch.observer/filing/0000950170-25-069323.json
- Plain text: https://secwatch.observer/filing/0000950170-25-069323.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.