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FiscalNote Holdings Inc. (NOTE)
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Upturn Advisory Summary
01/09/2026: NOTE (1-star) is currently NOT-A-BUY. Pass it for now.
Upturn Star Rating
Not Recommended Performance
These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.
Number of Analysts
5 Analysts rated it
Limited analyst coverage, niche firm, research info may be scarce.
1 Year Target Price $19.25
1 Year Target Price $19.25
| 4 | Strong Buy |
| 1 | Buy |
| 0 | Hold |
| 0 | Sell |
| 0 | Strong Sell |
Analysis of Past Performance
Type Stock | Historic Profit -36.16% | Avg. Invested days 28 | Today’s Advisory PASS |
Upturn Star Rating | Upturn Advisory Performance  1.0 | Stock Returns Performance  1.0 |
| Profits based on simulation | Last Close 01/09/2026 |
Key Highlights
Company Size Small-Cap Stock | Market Capitalization 26.08M USD | Price to earnings Ratio - | 1Y Target Price 19.25 |
Price to earnings Ratio - | 1Y Target Price 19.25 | ||
Volume (30-day avg) 5 | Beta 0.61 | 52 Weeks Range 1.41 - 24.36 | Updated Date 01/9/2026 |
52 Weeks Range 1.41 - 24.36 | Updated Date 01/9/2026 | ||
Dividends yield (FY) - | Basic EPS (TTM) -4.39 |
Analyzing Revenue: Products, Geography and Growth
Revenue by Products
Product revenue - Year on Year
Revenue by Geography
Geography revenue - Year on Year
Earnings Date
Report Date - | When - | Estimate - | Actual - |
Profitability
Profit Margin -54.31% | Operating Margin (TTM) -43.42% |
Management Effectiveness
Return on Assets (TTM) -7.49% | Return on Equity (TTM) -64.09% |
Valuation
Trailing PE - | Forward PE - | Enterprise Value 149820424 | Price to Sales(TTM) 0.25 |
Enterprise Value 149820424 | Price to Sales(TTM) 0.25 | ||
Enterprise Value to Revenue 1.46 | Enterprise Value to EBITDA 9.98 | Shares Outstanding 15018986 | Shares Floating 9343931 |
Shares Outstanding 15018986 | Shares Floating 9343931 | ||
Percent Insiders 8.18 | Percent Institutions 28.58 |
Upturn AI SWOT
FiscalNote Holdings Inc.
Company Overview
History and Background
FiscalNote Holdings Inc. was founded in 2013 with the mission to provide actionable intelligence on government and regulatory affairs. The company has grown significantly through organic expansion and strategic acquisitions, evolving from a data provider to a comprehensive platform for managing legislative and regulatory risk and opportunities. Key milestones include its IPO in 2022 and the acquisition of various data and technology companies to enhance its offerings.
Core Business Areas
- Legislative and Regulatory Intelligence: Provides real-time data, analysis, and insights on legislative activity, regulatory changes, and government actions globally. This includes tracking bills, regulations, committee hearings, and official statements.
- Legal Analytics: Offers tools for analyzing legal documents, court dockets, and judicial decisions to identify trends, risks, and precedents, primarily serving legal professionals.
- Compliance Management: Provides solutions to help organizations manage their regulatory compliance obligations, including policy management, risk assessment, and training.
Leadership and Structure
FiscalNote Holdings Inc. is led by its co-founder and CEO, Tim Hwang. The company operates with a structure designed to serve its various product lines and customer segments, with dedicated teams for product development, sales, marketing, and customer success.
Top Products and Market Share
Key Offerings
- FiscalNote Platform: A comprehensive SaaS platform offering real-time legislative and regulatory data, analysis, and workflow tools. It helps users track policy developments, understand their impact, and engage with policymakers. Competitors include Quorum, Cision, and various specialized lobbying and government relations software providers. Market share is difficult to quantify precisely as it's a niche market, but FiscalNote aims for a leading position in government relations technology.
- CQ Roll Call: A well-established brand providing in-depth news, analysis, and data on U.S. Congress and federal policymaking. Its audience includes journalists, policymakers, lobbyists, and advocacy groups. Competitors include Punchbowl News, The Hill, and Politico Pro. Revenue and user numbers are significant contributors to FiscalNote's overall financials.
- D.C. Decision Systems: Acquired to bolster its legislative tracking and analysis capabilities, providing advanced tools for monitoring and understanding the legislative process. Competitors include various legislative tracking services.
Market Dynamics
Industry Overview
FiscalNote operates in the RegTech (Regulatory Technology) and Government Relations technology markets. This sector is experiencing significant growth driven by increasing regulatory complexity, the need for greater transparency in government, and the rise of data-driven decision-making in public affairs. Companies are seeking efficient ways to navigate regulatory landscapes and influence policy.
Positioning
FiscalNote positions itself as a leading provider of AI-powered legal and government affairs intelligence, offering a holistic platform for managing policy and regulatory risk. Its competitive advantages lie in its comprehensive data sets, integrated platform approach, and focus on actionable intelligence derived from advanced analytics.
Total Addressable Market (TAM)
The TAM for RegTech and Government Relations technology is substantial and growing. Estimates vary, but the global RegTech market alone is projected to reach tens of billions of dollars in the coming years. FiscalNote is positioned to capture a significant portion of this by serving corporations, law firms, and government entities seeking to understand and manage complex regulatory environments.
Upturn SWOT Analysis
Strengths
- Comprehensive data aggregation from diverse government and legal sources.
- AI-powered analytics for actionable insights.
- Integrated platform approach combining legislative, regulatory, and legal intelligence.
- Strong brand recognition through acquired assets like CQ Roll Call.
- Subscription-based revenue model providing recurring income.
Weaknesses
- Reliance on third-party data sources in some areas.
- Challenges in fully integrating disparate acquired technologies.
- Competition from established players and agile startups.
- Profitability concerns in the near term due to growth investments.
- Perceived complexity of some of its advanced features for less tech-savvy users.
Opportunities
- Expansion into international markets.
- Further development and application of AI and machine learning.
- Partnerships with other technology providers.
- Growth in the corporate compliance and ESG (Environmental, Social, and Governance) reporting space.
- Increased demand for data-driven policy analysis.
Threats
- Changes in government data access policies.
- Intensifying competition and price pressures.
- Cybersecurity threats and data breaches.
- Economic downturns impacting client budgets for software and services.
- Rapid technological advancements by competitors.
Competitors and Market Share
Key Competitors
- Quorum (QRUM)
- Cision (CISN)
- LexisNexis (part of RELX PLC)
- Bloomberg Government (part of Bloomberg LP)
- Punchbowl News (PNWL)
Competitive Landscape
FiscalNote competes in a fragmented market with both large, established players offering broad solutions and smaller, specialized firms focusing on niche areas. Its advantage lies in its integrated platform and AI capabilities, aiming to provide a more comprehensive and intelligent solution than many competitors. However, it faces challenges from companies with deeper existing customer relationships and broader financial resources.
Major Acquisitions
CQ Roll Call
- Year: 2019
- Acquisition Price (USD millions): 170
- Strategic Rationale: Acquired to significantly expand FiscalNote's reach and influence in government affairs intelligence, adding a well-respected brand and extensive content.
D.C. Decision Systems
- Year: 2020
- Acquisition Price (USD millions):
- Strategic Rationale: Strengthened FiscalNote's legislative tracking and analysis capabilities, enhancing its core government intelligence offerings.
Equilar
- Year: 2023
- Acquisition Price (USD millions): 110
- Strategic Rationale: Enhanced FiscalNote's capabilities in corporate governance and executive compensation data, expanding its market reach into corporate boardrooms.
Growth Trajectory and Initiatives
Historical Growth: FiscalNote has experienced substantial historical growth, largely fueled by strategic acquisitions that have expanded its product offerings and market reach. Revenue has seen consistent increases over the past few years. The company has also focused on expanding its customer base and product penetration.
Future Projections: Analyst projections generally indicate continued revenue growth for FiscalNote, driven by market expansion and the increasing adoption of its platform. Focus areas for future growth include international expansion, continued AI development, and further penetration into enterprise markets for compliance and regulatory intelligence.
Recent Initiatives: Recent initiatives include the integration of acquired companies to create a more cohesive platform, ongoing investment in AI and data analytics capabilities, and efforts to expand its sales and marketing reach. The company is also focused on enhancing its product suite to address emerging regulatory and policy trends.
Summary
FiscalNote Holdings Inc. is a growing player in the RegTech and government relations intelligence space, leveraging AI and a comprehensive platform to provide valuable insights. Its strategic acquisitions have broadened its scope, and its subscription model offers recurring revenue. However, the company faces intense competition and the ongoing challenge of achieving sustained profitability amidst significant growth investments. Close monitoring of its path to profitability and competitive positioning is essential.
Similar Stocks
Sources and Disclaimers
Data Sources:
- FiscalNote Holdings Inc. Investor Relations Filings (SEC)
- Company Website
- Industry Analyst Reports
- Financial News Outlets
Disclaimers:
This JSON output is for informational purposes only and does not constitute financial advice. Market share data is an estimation based on available industry information and may not be precise. Financial data reflects available public information and is subject to change. Investors should conduct their own due diligence before making any investment decisions.
AI Summarization is directionally correct and might not be accurate.
Summarized information shown could be a few years old and not current.
Fundamental Rating based on AI could be based on old data.
AI-generated summaries may have inaccuracies (hallucinations). Please verify the information before taking action.
About FiscalNote Holdings Inc.
Exchange NYSE | Headquaters Washington, DC, United States | ||
IPO Launch date 2020-12-07 | President, CEO & Director Mr. Joshua W. Resnik | ||
Sector Technology | Industry Information Technology Services | Full time employees 412 | Website https://fiscalnote.com |
Full time employees 412 | Website https://fiscalnote.com | ||
FiscalNote Holdings, Inc. operates as a technology provider for global policy and market intelligence in North America, Europe, Australia, and Asia. The company delivers legal and policy insights in political, regulatory, and macroeconomic environments by combining artificial intelligence and other technologies with analytics and workflow tools. It also provides data and information that enables customers to manage policy change, address regulatory developments, and mitigate policy risk; and offers intelligence through its suite of public policy and issues management products, as well as provides powerful tools to manage workflows, advocacy campaigns, and constituent relationships. The company serves global enterprises, midsized and smaller businesses, government institutions, trade groups, and nonprofits. FiscalNote Holdings, Inc. was founded in 2013 and is headquartered in Washington, the District of Columbia.
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