---
schema_version: "secwatch.filing_event.v1"
accession: "0001193125-26-212342"
form_type: "8-K"
ticker: "NOTE"
cik: "0001823466"
company_name: "FiscalNote Holdings, Inc."
filed_at: "2026-05-07T23:59:59+00:00"
generated_at: "2026-05-14T22:00:02.153339+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# FiscalNote Q1 revenue $20M (-27% YoY), net loss $43.6M; reaffirms FY26 guidance

## Summary
- Revenue $20.0M vs $27.5M YoY; adjusted EBITDA $1.0M vs $2.8M; net loss $43.6M includes $35.6M goodwill impairment.
- Subscription revenue $19.0M (95% of total); ARR $75.7M (down 14% as reported, 12% pro forma); NRR 89% pro forma.
- Reaffirms FY26 revenue $80-83M, adjusted EBITDA $14-16M; Q2 forecast revenue $19.5-20.5M, adj EBITDA ~$2.5M.
- Board continues strategic review including potential re-listing; positive NTM free cash flow expected from Q2 2026 onward.
- Launched PolicyNote API with MCP, expanded into political prediction markets, and completed legacy customer migration.

## SEC filing metadata
- accession: 0001193125-26-212342
- form_type: 8-K
- ticker: NOTE
- cik: 0001823466
- company_name: FiscalNote Holdings, Inc.
- filed_at: 2026-05-07T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- 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/1823466/000119312526212342/0001193125-26-212342-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1823466/000119312526212342/note-20260507.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001193125-26-212342
- JSON: https://secwatch.observer/filing/0001193125-26-212342.json
- Plain text: https://secwatch.observer/filing/0001193125-26-212342.txt

## Source-grounded claims
- claim_id: b29eb989cc9f5553b472ad8c3819e40053e8d45e
  claim: FiscalNote Holdings, Inc. reported the first quarter ended March 31, 2026 results: revenue $20.0 million, net income $(43.6). Guidance reaffirmed.
  evidence_excerpt: leader in AI-driven policy and regulatory intelligence, today reported financial results for the first quarter ended March 31, 2026. The Company reported Q1 2026 revenues of $20.0 million and Adjusted EBITDA (1) of $1.0 million, both meeting guidance. Customer engagement and retention metrics for PolicyNote continue to exceed the Company’s legacy platforms,
  evidence_url: https://www.sec.gov/Archives/edgar/data/1823466/000119312526212342/0001193125-26-212342-index.htm

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