FiscalNote Q2 2022 Earnings Report
Key Takeaways
FiscalNote reported a 41% increase in total revenue compared to the second quarter of 2021. The company is excited to be a public company and remains focused on sustainable growth, reiterating achieving positive Adjusted EBITDA for the fourth quarter of 2023.
Total revenue for the second quarter of 2022 was $27.2 million, up 41% from the second quarter of 2021.
Subscription revenue was $24.3 million, up 40% from the second quarter of 2021.
Gross profit for the second quarter of 2022 was $19.5 million, compared to $14.3 million for the second quarter of 2021.
Net loss for the second quarter of 2022 was $38.4 million, compared to $34.1 million for the second quarter of 2021.
FiscalNote
FiscalNote
FiscalNote Revenue by Segment
Forward Guidance
FiscalNote is reaffirming its guidance for full year 2022.
Positive Outlook
- Run-rate revenue of $173 million by end of year.
- Organic run-rate revenue to accelerate to $136 million by end of year, representing approximately 25% year over year growth.
- Reiterates that it remains on track to achieve positive Adjusted EBITDA within the fourth quarter of 2023.
Challenges Ahead
- Adjusted EBITDA loss of approximately $23 million.
Revenue & Expenses
Visualization of income flow from segment revenue to net income