FiscalNote Holdings, Inc. (NYSE: NOTE) reported Q4 EPS of ($0.32), $0.23 worse than the analyst estimate of ($0.09). Revenue for the quarter came in at $31.4 million versus the consensus estimate of $30.82 million.

GUIDANCE:

FiscalNote Holdings, Inc. sees Q1 2023 revenue of $31-32 million, versus the consensus of $32.5 million.

• Adjusted EBITDA(1) loss of $7 to $6 million for the quarter, including higher Q1 seasonal public company costs. The Company has implemented cost actions over the past few months which, in combination with more normalized quarterly expenses, are expected to significantly reduce adjusted EBITDA loss starting in the second quarter, and enable the Company to become profitable on an Adjusted EBITDA basis in the fourth quarter of 2023.

FiscalNote Holdings, Inc. sees FY2023 revenue of $136-141 million, versus the consensus of $138 million.

• Total run-rate revenue(3)(5) of $148 million to $155 million representing growth of 17% to 22% over the prior year inclusive of the Company’s recent acquisition of Dragonfly Eye, Ltd. and growth of 10% to 16% over the prior year on an organic basis.
• An adjusted EBITDA(1) loss of $8 million to $6 million for the year(6), marking an improvement of approximately 71% year-over-year.
• FiscalNote reiterates that it expects to achieve positive Adjusted EBITDA in the fourth quarter of 2023 and ongoing positive adjusted EBITDA beyond this milestone.

For earnings history and earnings-related data on FiscalNote Holdings, Inc. (NOTE) click here.