Filing Flows › FiscalNote Holdings (NOTE) › Q1 2025
FiscalNote Holdings (NOTE) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 13, 2025
FiscalNote Holdings (NOTE) reported revenue of $27.5M for the first quarter 2025 (Q1 2025), -14% from a year earlier and -7% from the quarter before. Operating margin was -50.0%, net loss $4.2M (15.4% of revenue).
FiscalNote Holdings, Q1 2025: revenue $27.5M (-14% year over year), operating margin -50.0%, net loss $4.2M, operating cash flow $3.3M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $27.5M | -7% | -14% |
| Operating profit | −$13.8M | — | — |
| Net earnings | −$4.2M | — | — |
| Operating cash flow | $3.3M | — | +20% |
| Free cash flow | $1.3M | — | +24% |
What changed
Revenue was $27.5M in Q1 2025, down 14% year over year and down 7% from the previous quarter. Subscription was the largest line at 92% of revenue. Subscription lost $4.4M year over year (down 15%), 96% of the total change.
Operating costs exceeded revenue by $13.8M, an operating margin of -50.0%. Total costs fell 5% while revenue fell 14%. The quarter ended with a net loss of $4.2M, narrower than the previous quarter's $13.4M loss. Non-operating items added $9.5M, -221% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $3.3M (up 20% year over year). Non-cash charges added back $2.6M of depreciation and amortization and $3.4M of share-based compensation. Working capital and other items added $1.6M. Capital expenditures of $2.0M left free cash flow of $1.3M.
Questions
What was FiscalNote Holdings' revenue in the first quarter 2025?
FiscalNote Holdings (NOTE) reported revenue of $27.5M for the first quarter 2025 (Q1 2025), -14% from a year earlier and -7% from the quarter before.
Was FiscalNote Holdings profitable in the first quarter 2025?
Operating loss was $13.8M (-50.0% of revenue) and net loss $4.2M.