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Earnings Call Summary | FiscalNote Holdings(NOTE.US) Q1 2024 Earnings Conference

Futu News ·  May 12 15:36  · Conference Call

The following is a summary of the FiscalNote Holdings, Inc. (NOTE) Q1 2024 Earnings Call Transcript:

Financial Performance:

  • FiscalNote achieved Q1 2024 total revenues of $32 million and an adjusted EBITDA of $1 million.

  • The divestment of Board.org reduced the company's debt by $65 million and improved the cash position by $15 million.

  • Recurring streams constitute about 90% of FiscalNote's revenue.

  • They reported a net income of $50 million, an increase of over $68 million, primarily due to the gain from the sale of Board.org.

  • The company's total debt has been reduced to $177 million, after a principal repayment of $66 million in the quarter.

  • FiscalNote has reaffirmed its full-year forecast of total revenues ranging between $123 million-$127 million and an adjusted EBITDA for 2024 of $7 million-$9 million.

Business Progress:

  • FiscalNote's AI investment resulted in the creation of the 'FiscalNoteGPT' platform and the Copilot reasoning platform.

  • AI agents, such as StressLens and the Global Intelligence AI Copilot, have been launched in the Q1 2024 to enhance customer user experience.

  • The company plans to further invest in the AI copilot range to innovate the legal, regulatory, and geopolitical analysis field.

  • They followed a product-led growth approach, aiming to appeal to individual users in small to large enterprises.

  • FiscalNote continues to extend its regional presence, particularly in Europe, focusing on the AI-powered solutions portfolio.

  • The company has increased its coverage of policy developments in China and Europe, contributing to 15% of total revenue.

  • Future endeavors include accelerating the use of AI Copilots, integrating acquisitions, and launching other products like StressLens.

More details: FiscalNote Holdings IR

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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