| Metric | Value ($ M) | Q1 FY26 | Q2 FY25 |
|---|---|---|---|
| Revenue | 19.58 | 2.3% | 15.8% |
| Total Income | 19.58 | 2.3% | 15.8% |
| Expenditure | 43.67 | 30.2% | 42.3% |
| PBT | -27.92 | 36.3% | 98.4% |
| Net Profit | -27.83 | 36.2% | 109.7% |
| OPM | — | ||
| NPM | — | ||
| EPS | -1.06 | 55.6% | 1225.0% |
FiscalNote Reports Q2 2026 Financial Results
11 Aug 2026 · 11 Aug, 2:33 am
Summary
FiscalNote Holdings, Inc. reported second quarter 2026 revenues of $19.6 million, meeting guidance, while adjusted EBITDA came in at $2.3 million, slightly below the $2.5 million target. The company saw a significant improvement in quarterly net revenue retention, rising to 98% from 89% in the prior quarter, indicating stabilization in its core business. Management highlighted continued efforts to strengthen the operating model through cost reductions and AI deployment, with a focus on investing in agentic PolicyNote MCP API solutions.
Key Highlights
- 1
FiscalNote reported Q2 2026 revenues of $19.6 million, which were in line with guidance.
- 2
Adjusted EBITDA for Q2 2026 was $2.3 million, slightly below guidance of $2.5 million.
- 3
Quarterly net revenue retention improved to 98% in Q2 2026, up from 89% in the first quarter.
- 4
Total revenues for the second quarter of 2026 were $19.6 million, a decrease of 16% compared to $23.3 million in the second quarter of 2025.
- 5
Gross margin for Q2 2026 was 80%, an improvement from 79% in the prior year period.
- 6
Adjusted Gross Margin improved to 88% in Q2 2026 from 86% in Q2 2025.
- 7
The company established a Q3 2026 forecast and revised its full-year FY26 guidance.
Management Comments
Key Compton
We came in $0.2 million light on adjusted EBITDA, but net revenue retention improved nine points sequentially to 98%, marking an important stabilization in our core business. We also continued to improve our operating efficiency. Looking forward, we will continue to hold the line on operating discipline while also investing behind the products our customers are pulling us toward, including the agentic PolicyNote MCP API solutions that Siemens and other global enterprises licensed this quarter.
Jon Slabaugh
We welcome the arrival of Key Compton and with this we have reset our full year outlook this quarter to reflect the current revenue environment, while continuing to operate from a leaner cost structure that strengthens our operating leverage. Our immediate priorities are maintaining capital discipline as we work to return the Company to growth and reach free cash flow positive.
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