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

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