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Mar 31, 2024
FiscalNote Q1 2024 Earnings Report
Reported Q1 2024 financial results and outlined accelerated AI product strategy and roadmap.
Key Takeaways
FiscalNote reported Q1 2024 total revenues of $32.1 million and adjusted EBITDA of $1.2 million, both slightly exceeding previously provided guidance. The company also reaffirmed its forecast for FY 2024 and issued a forecast for Q2 2024. They successfully completed Board.org divestiture for a total consideration of up to $103.0 million and are accelerating its strategy of developing revolutionary AI Copilots.
Reported Q1 2024 total revenues of $32.1 million and adjusted EBITDA of $1.2 million, both slightly exceeding previously provided guidance.
Reaffirmed forecast for FY 2024 and issued forecast for Q2 2024.
Successfully completed Board.org divestiture for a total consideration of up to $103.0 million.
Accelerates its strategy of developing revolutionary AI Copilots to transform Legal, Regulatory, and Policy workflows using a new, proprietary modular framework.
Revenue by Segment
Forward Guidance
The Company reaffirms prior financial forecasts for full year 2024 and issues financial forecasts for Q2 2024, in both instances reflecting management’s expectations based on the most recent information available, including factors such as the impact of the divestiture of Board.org and the discontinuation of certain non-strategic products. The Company expects 2024 to deliver its first full year of adjusted EBITDA profitability in the Company’s history.
Positive Outlook
- Company expects to return to double digit growth rates in 2025
- Re-allocating sales and product resources to high-performing offerings
- Realizing the benefits of recent product and organizational initiatives
- Changes to sales coverage models for enhanced cross-sell, upsell and retention
- Further scaling of new products, and accelerated product development
Revenue & Expenses
Visualization of income flow from segment revenue to net income
Historical Earnings Impact
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Avg. Return Before/After Earnings
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