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FiscalNote Holdings (NOTE) earnings and revenue breakdown
Latest: Q2 2026 · 10-Q filed Aug 10, 2026 · FiscalNote Holdings (NOTE) Q2 2026 earnings results →
Q2 2026 Revenue down 16% year over year to $19.6M · 142¢ of every $1 of revenue lost · operating margin -123.0%
FiscalNote Holdings made $19.6M in Q2 2026 (-16% Y/Y): Subscription $18.8M, Non-Subscription $781K. Operating margin -123.0%, net loss $27.8M. See where every dollar goes — costs, profit and cash — as a Sankey from the 10-Q filed Aug 10, 2026.
Drawing the Sankey…
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What changed this quarter
Revenue was $19.6M in Q2 2026, down 16% year over year and down 2% from the previous quarter. Subscription was the largest line at 96% of revenue. Subscription lost $2.6M year over year (down 12%), 70% of the total change.
Operating costs exceeded revenue by $24.1M, an operating margin of -123.0%. Total costs grew 42% against a revenue fall of 16%. The fastest-growing cost line was Other operating costs (+174%). The quarter ended with a net loss of $27.8M, narrower than the previous quarter's $43.6M loss.
Operating cash flow was −$2.1M. Non-cash charges added back $2.1M of depreciation and amortization and $828K of share-based compensation. Working capital and other items added $22.8M. Capital expenditures of $1.7M exceeded it, leaving free cash flow of −$3.8M.
Quarterly history
| Quarter | Form | Filed | Revenue | Y/Y | Op. margin | Net earnings | Op. cash flow |
|---|---|---|---|---|---|---|---|
| Q2 2026 | 10-Q | Aug 10, 2026 | $19.6M | -16% | -123.0% | −$27.8M | −$2.1M |
| Q1 2026 | 10-Q | May 11, 2026 | $20.0M | -27% | -212.3% | −$43.6M | $3.0M |
| Q4 2025 | 10-K | Mar 24, 2026 | $22.2M | -25% | -83.7% | −$22.9M | −$279K |
| Q3 2025 | 10-Q | Nov 10, 2025 | $22.4M | -24% | -43.4% | −$24.9M | −$8.3M |
| Q2 2025 | 10-Q | Aug 15, 2025 | $23.3M | -20% | -31.9% | −$13.3M | −$6.2M |
| Q1 2025 | 10-Q | May 13, 2025 | $27.5M | -14% | -50.0% | −$4.2M | $3.3M |
| Q4 2024 | 10-K | Apr 1, 2025 | $29.5M | -14% | -19.4% | −$13.4M | −$1.3M |
Charts
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🌏Named in Asian annual reportsinteractive
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🔄Rotation against the market and its industry (RRG)interactive
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⚖️Fair value by methodinteractive
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🔭Outlook & guidanceinteractive
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📈Investments: gains and what it boughtinteractive
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🏭Its industry’s money flow (input-output)interactive
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Customers and suppliers named in filings
Sells to
- U.S. government — 17% of its revenue · Stated in 10-K (sentence) · source
About FiscalNote Holdings
FiscalNote (OTC: NOTE), the global leader in AI-driven policy intelligence, delivers its deep expertise in legislative tracking, regulatory analysis, and stakeholder engagement through PolicyNote, its flagship platform. Built to ensure the most complete, real-time view of the policy landscape, PolicyNote delivers synthesized, expert-driven analysis integrated with AI-powered monitoring, fueled by the trusted analysis and reporting of CQ and Roll Call, and the grassroots mobilization power of VoterVoice. From the committee room to the board room, FiscalNote’s PolicyNote Suite ensures every user has the unmatched clarity and speed needed to understand and impact policy.
In its own words, from its 8-K, filed Aug 10, 2026.
FiscalNote Holdings against its Services-Business Services, NEC peers
The largest companies of the same SEC industry, each at its latest quarter. Revenue growth: -16% against the peers' median +10%. Operating margin: -123.0% against the peers' median 9.8%.
| Company | Quarter | Revenue | Y/Y | Op. margin |
|---|---|---|---|---|
| NOTE FiscalNote Holdings | Q2 2026 | $19.6M | -16% | -123.0% |
| ACN Accenture | Q4 FY26 | $18.7B | +6% | 15.3% |
| UBER Uber Technologies | Q3 2026 | $14.8B | +10% | 9.8% |
| V Visa | Q4 FY26 | $12.1B | +13% | 59.8% |
| MELI MercadoLibre | Q3 2026 | $10.8B | +45% | 6.3% |
| MA Mastercard | Q3 2026 | $9.8B | +14% | 59.8% |
| PYPL PayPal Holdings | Q3 2026 | $8.6B | +2% | 16.3% |
| FISV Fiserv | Q3 2026 | $5.2B | -1% | -105.7% |
| DASH DoorDash | Q3 2026 | $4.6B | +34% | 9.6% |
Source: FiscalNote Holdings 10-Q on SEC EDGAR · CIK 1823466 · Services-Business Services, NEC
13F: who owns NOTE and who is buying
More on NOTE
History
Every quarter: Q2 2026 results · Q1 2026 results · Q4 2025 results · Q3 2025 results · Q2 2025 results · Q1 2025 results · Q4 2024 results