NOTE · FiscalNote Holdings, Inc.
$0.53
-0.17 (-24.47%)
At close · Mar 25
Return incl. dividend (before tax)
Going-concern doubt
— flagged Aug 10, 2026
Substantial doubt about the company's ability to continue as a going concern.
“These conditions, considered in the aggregate, raise substantial doubt about the Company's ability to continue as a going concern and meet the Company's obligations as they become due within one year after the date the financial statements are issued. ... However, at this time management concluded that its plans do not alleviate substantial doubt, as there can be no assurance that any of these plans will be successfully implemented on acceptable terms, or at all.”View the 10-Q filed Aug 10, 2026
Market Cap
$2.13M
Shares
30.47M
Volume · Mar 25
7.03M
Avg daily vol (3M)
640.58K
Price & Indicators
20d MA
50d MA
200d MA
Earnings
Filing
Insider
Congress
Investor day
Close$0.53
Open$0.83
Day$0.49–0.85
52W close$0.53–11.66
Avg vol 30d1.0M
Short int278K · 0.9% float · 1.0d
Short vol39%
Last earningsAug 10, 2026
DataDec 2020–Mar 2026
Filing10-Q · Aug 10
Up next
Next earnings call
Nov 11, 2026
Est · unconfirmed
· in 6 wks
filed Aug 10, 2026
call held Aug 10, 2026
Metrics snapshot
Useful current figures from the complete screener profile.
Revenue (TTM)
$84.24M
Trailing 12 months
Net income (TTM)
−$119.17M
Trailing 12 months
Revenue growth YoY
-15.8%
Year over year
Operating margin
-112.7%
Trailing 12 months
P / E (TTM)
—
Trailing earnings
FCF yield
-689.5%
TTM · current market cap
Return on invested capital
—
Trailing 12 months
Net cash
−$99.29M
Latest balance sheet
Dividend yield
—
Trailing 12 months
Shares change YoY
+96.1%
Year over year · more shares
Price change (1Y)
—
Trailing year
Short interest
—
Latest settlement
AI Brief
Q2 FY26 earnings call · Aug 10, 2026
Q2 FY26
TL;DR. FiscalNote reported Q2 revenue of $19.6 million in line with guidance but cut full-year 2026 revenue guidance to $75–$78 million and adjusted EBITDA to $9–$11 million from $80–$83 million and $14–$16 million respectively, while a $19.1 million goodwill impairment and NYSE delisting-related lender concerns weigh on the balance sheet.
Bullish
- + Adjusted gross margin expanded to 88% from 86% on cost discipline
- + New PolicyNote MCP API wins with Siemens and a global U.S. tech/cloud customer
- + Headcount reduced ~27 FTEs to ~343 and operating expenses down 12% ex-impairment
Bearish
- − Full-year 2026 revenue guidance cut to $75–$78M from $80–$83M
- − Full-year 2026 adjusted EBITDA guidance cut to $9–$11M from $14–$16M
- − $19.1M non-cash goodwill impairment drove GAAP net loss to $27.8M
- − Capital structure stressed after NYSE delisting with forbearance on debt and advisor engaged
From the call
AI-generated from the earnings call and 8-K · may contain errors · not investment advice
Equibles Rating
blended score · not investment adviceOverall
Strong Sell
SellHoldBuy
Technical
Strong Sell
Momentum
Very Weak
Sentiment
Neutral
Fundamentals
Poor
Quant / Vol
Very High
Market backdrop
VIX 16.4 · calm
Equity put/call 0.57
Technical
price trend
50 / 200-day cross
No cross
Price vs 200-day avg
−86%
below
Price vs 50-day avg
−54%
below
RSI (14)
23
oversold
MACD trend
Negative
52-week position
0%
near low
Volume (OBV)
Confirms
volume backs price
Momentum
relative strength
1-month return
−50%
trailing
6-month return
−89%
trailing
YTD return
−64%
this year
Relative strength
−87%
vs S&P · 6-mo
Sentiment
smart money
Trend (MA cross)
No cross
50d $1 › 200d $4 — 200d above 50d
Institutional flow
Distributing
-92% holders QoQ
Insider flow
Flat
No net insider activity over 90 days
Short interest
Falling
0.91% of float · ▼ -12.2% MoM · 1.0 days cover
Volume signal
Reversal watch
High volume on a down day — possible exhaustion
Institution breadth
Multi-yr low
4 holders — near 3-yr low, contrarian setup
Fundamentals
Revenue growth
−21%
Y/Y
EPS growth
−660%
Y/Y
Balance sheet
$104.1M
net debt
Quant / Vol
risk profile
Volatility
98%
annualized · 1-yr
Max drawdown
−95%
past year
ATR
23.7%
of price · 14-day
Blended from price, momentum, positioning, fundamentals & volatility · daily-close · not investment advice. Market backdrop is context, not part of the score.
Guidance & track record
Latest guidance
· from the 8-K filed Aug 10, 2026
Total revenues
· 3Q 2026
Initiated
$19M – $20M
prior qtr $19.58M
midpoint −0.4% QoQ
Adjusted EBITDA
· 3Q 2026
Non-GAAP
Initiated
$3.5M
Guided vs delivered
· last 5 settled
Total Revenues
Full Year 2024
guided $121M
$120.27M
Miss −0.6%
Total Revenues
Q2 2024
guided $29M
$29.25M
Beat +0.8%
GAAP revenue
fourth quarter of 2023
guided $34M – $35M
$34.27M
In line
GAAP revenue
full year 2023
guided $132M – $133M
$132.65M
In line
Guidance from company 8-Ks · delivered figures from as-reported statements · no analyst estimates involved.
Technicals
trend & momentum for long-term holders Strong Sell
50 / 200-day cross
No cross
Neutral
Price vs 200-day avg
−86%
Bearish
Price vs 50-day avg
−54%
Bearish
RSI (14)
23
Neutral
MACD trend
Negative
Bearish
52-week position
0%
Bearish
Volume (OBV)
Confirms
Neutral
Market signals — smart money & positioning
Mixed
Trend (MA cross)
No cross
50d $1 › 200d $4 — 200d above 50d
Institutional flow
Distributing
-92% holders QoQ
Insider flow
Flat
No net insider activity over 90 days
Short interest
Falling
0.91% of float · ▼ -12.2% MoM · 1.0 days cover
Volume signal
Reversal watch
High volume on a down day — possible exhaustion
Institution breadth
Multi-yr low
4 holders — near 3-yr low, contrarian setup
Price context
position in its 52-week range
Range low $1
Now $1 · 0%
Range high $12
vs 200-day avg -86%
vs 50-day avg -54%
Illustrative technical + ownership context — a signal mix, not investment advice.
Key metrics
the company's own KPIs, from written earnings releases and filings| Metric | Latest | Period | YoY |
|---|---|---|---|
| Adjusted EBITDA non-GAAP | $2.3M | Q2 2026 | — |
GAAP → non-GAAP reconciliationGAAP EBITDA -20.23M
+0K Loss (gain) on sale of business (a)
+828K Stock-based compensation
-93K Change in fair value of financial instruments (b)
+19.12M Other non-cash charges (c)
+27K Disposal related costs (d)
+335K Employee severance costs (e)
+1.81M CEO severance (f)
+533K Non-capitalizable debt costs
-3K Costs incurred related to the Special Committee
+0K Non-operating income (g)
= Adjusted EBITDA 2.33M
|
|||
| Adjusted Gross Margin non-GAAP | 88% | Q2 2026 | — |
| Adjusted Gross Profit non-GAAP | $17.3M | Q2 2026 | — |
GAAP → non-GAAP reconciliationGAAP Gross Profit 15.61M
+1.66M Amortization of intangible assets
= Adjusted Gross Profit 17.27M
|
|||
| Annual Recurring Revenue (ARR) | $74.9M | Q2 2026 | — |
| Pro Forma ARR | $74.9M | Q2 2026 | — |
| Quarterly Net Revenue Retention (NRR) | 98% | Q2 2026 | — |
| Subscription Revenue as % of Total Revenues | 96% | Q2 2026 | — |
| Trailing Twelve Month Net Revenue Retention (NRR) | 81% | Q2 2026 | — |
Figures exactly as the company stated them in writing · click a metric with a to chart its history · period links open the stating document · "filing" marks figures stated in the 10-K/10-Q · YoY needs an exactly comparable prior-year period
Versus peers
Information Technology Services — same industry group| Company | Mkt cap | YTD | Rev growth Y/Y | P/E | Short % shares |
|---|---|---|---|---|---|
|
NOTE
this stock
FiscalNote Holdings, Inc.
|
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|
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Peers by industry group · P/E from as-reported trailing EPS · short % is of shares outstanding
At a glance
key data from every sectionOwnership
Short & Settlement
Financials
Filings
Performance
| 5D | 20D | 120D | MTD | YTD | |
|---|---|---|---|---|---|
| NOTE | -44.1% | -49.9% | -88.7% | -50.4% | -63.9% |
| SPY | -0.7% | -5.2% | -1.7% | -4.3% | -3.7% |
| vs SPY | -43.4% | -44.7% | -86.9% | -46.1% | -60.2% |