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FiscalNote Holdings Inc is a provider of world-wide policy and market intelligence solutions. Leveraging AI and analytics, it delivers actionable legal and policy insights for businesses, government institutions, and nonprofits. Its suite of products includes FiscalNote Core, CQ Federal, and EU Issue Tracker, facilitating effective policy management and risk mitigation. With its analysis from FrontierView, Oxford Analytica, and Dragonfly Eye, it offers geopolitical and market intelligence services. Operating as one segment, it generates revenue by integrating policy intelligence into daily operations. Geographically the company generates the majority of its revenue from North America, Europe, Australia, and Asia, with the majority generated from North America.
2022
573
LTM Revenue $111M
LTM EBITDA $10.2M
$191M
Benchmark forward-looking revenue and EBITDA valuation multiples across generative AI, climate tech, semiconductors, online marketplaces, vertical SaaS and 220 more verticals.
FiscalNote has a last 12-month revenue (LTM) of $111M and a last 12-month EBITDA of $10.2M.
In the most recent fiscal year, FiscalNote achieved revenue of $120M and an EBITDA of $53.5M.
FiscalNote expects next 12-month revenue of XXX and NTM EBITDA of XXX
See FiscalNote valuation multiples based on analyst estimates| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue | $111M | XXX | $120M | XXX | XXX | XXX |
| Gross Profit | $86.2M | XXX | $76.1M | XXX | XXX | XXX |
| Gross Margin | 78% | XXX | 63% | XXX | XXX | XXX |
| EBITDA | $10.2M | XXX | $53.5M | XXX | XXX | XXX |
| EBITDA Margin | 9% | XXX | 44% | XXX | XXX | XXX |
| EBIT | -$32.5M | XXX | -$31.9M | XXX | XXX | XXX |
| EBIT Margin | -29% | XXX | -27% | XXX | XXX | XXX |
| Net Profit | -$10.0M | XXX | $9.5M | XXX | XXX | XXX |
| Net Margin | -9% | XXX | 8% | XXX | XXX | XXX |
| Net Debt | XXX | XXX | $118M | XXX | XXX | XXX |
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As of May 30, 2025, FiscalNote's stock price is $1.
FiscalNote has current market cap of $94.8M, and EV of $191M.
See FiscalNote trading valuation data| EV | Market Cap | Price 1D | Price 1M | Price 3M | Price 12M | EPS |
|---|---|---|---|---|---|---|
| $191M | $94.8M | XXX | XXX | XXX | XXX | $-0.05 |
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Start Free TrialAs of May 30, 2025, FiscalNote has market cap of $94.8M and EV of $191M.
FiscalNote's trades at 1.6x EV/Revenue multiple, and 3.6x EV/EBITDA.
Equity research analysts estimate FiscalNote's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX
FiscalNote has a P/E ratio of -9.5x.
See valuation multiples for FiscalNote and 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Market cap (current) | $94.8M | XXX | $94.8M | XXX | XXX | XXX |
| EV (current) | $191M | XXX | $191M | XXX | XXX | XXX |
| EV/Revenue | 1.7x | XXX | 1.6x | XXX | XXX | XXX |
| EV/EBITDA | 18.8x | XXX | 3.6x | XXX | XXX | XXX |
| EV/EBIT | -5.9x | XXX | -6.0x | XXX | XXX | XXX |
| EV/Gross Profit | 2.2x | XXX | n/a | XXX | XXX | XXX |
| P/E | -9.5x | XXX | 10.0x | XXX | XXX | XXX |
| EV/FCF | -15.9x | XXX | -13.5x | XXX | XXX | XXX |
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Access all public comps and forward-looking valuation multiples like EV/Revenue in 2025, based on equity research analyst estimates.
Start Free TrialFiscalNote's last 12 month revenue growth is -10%
FiscalNote's revenue per employee in the last FY averaged $0.2M, while opex per employee averaged $0.2M for the same period.
FiscalNote's rule of 40 is -53% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).
FiscalNote's rule of X is -16% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).
See operational valuation multiples for FiscalNote and other 12K+ public comps| LTM | NTM | Last FY | FY 2025 | FY 2026 | FY 2027 | |
|---|---|---|---|---|---|---|
| Revenue Growth | -10% | XXX | -7% | XXX | XXX | XXX |
| EBITDA Margin | 9% | XXX | 44% | XXX | XXX | XXX |
| EBITDA Growth | 22% | XXX | n/a | XXX | XXX | XXX |
| Rule of 40 | -53% | XXX | 34% | XXX | XXX | XXX |
| Bessemer Rule of X | XXX | XXX | -16% | XXX | XXX | XXX |
| Revenue per Employee | XXX | XXX | $0.2M | XXX | XXX | XXX |
| Opex per Employee | XXX | XXX | $0.2M | XXX | XXX | XXX |
| S&M Expenses to Revenue | XXX | XXX | 29% | XXX | XXX | XXX |
| G&A Expenses to Revenue | XXX | XXX | n/a | XXX | XXX | XXX |
| R&D Expenses to Revenue | XXX | XXX | 11% | XXX | XXX | XXX |
| Opex to Revenue | XXX | XXX | 90% | XXX | XXX | XXX |
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Benchmark public comps and private revenue and EBITDA valuation multiples across GRC software, cloud infrastructure, DevOps, online marketplaces and so much more!
| EV/Revenue | EV/EBITDA | |||||
|---|---|---|---|---|---|---|
| 2025E | 2026E | 2027E | 2025E | 2026E | 2027E | |
| Almunda Professionals | XXX | XXX | XXX | XXX | XXX | XXX |
| Appen | XXX | XXX | XXX | XXX | XXX | XXX |
| RPMGlobal | XXX | XXX | XXX | XXX | XXX | XXX |
| Bluebik Group | XXX | XXX | XXX | XXX | XXX | XXX |
| Business Online | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
| XXXXXXXX | XXX | XXX | XXX | XXX | XXX | XXX |
Valuation data powered by FactSet, Inc.
FiscalNote acquired XXX companies to date.
Last acquisition by FiscalNote was XXXXXXXX, XXXXX XXXXX XXXXXX . FiscalNote acquired XXXXXXXX for XXX (EV/Revenue multiple of XXX ).
See M&A valuation multiples| Acquired Company | EV | EV/Revenue | EV/EBITDA |
|---|---|---|---|
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
| XXXXXXXXX | XXX | XXX | XXX |
Sign up to see revenue and EBITDA valuation multiples for 60K+ M&A deals.
Start Free Trial| When was FiscalNote founded? | FiscalNote was founded in 2022. |
| Where is FiscalNote headquartered? | FiscalNote is headquartered in United States of America. |
| How many employees does FiscalNote have? | As of today, FiscalNote has 573 employees. |
| Who is the CEO of FiscalNote? | FiscalNote's CEO is Mr. Josh Resnik. |
| Is FiscalNote publicy listed? | Yes, FiscalNote is a public company listed on NYS. |
| What is the stock symbol of FiscalNote? | FiscalNote trades under NOTE ticker. |
| When did FiscalNote go public? | FiscalNote went public in 2022. |
| Who are competitors of FiscalNote? | Similar companies to FiscalNote include e.g. Almunda Professionals, Appen, RPMGlobal, Bluebik Group. |
| What is the current market cap of FiscalNote? | FiscalNote's current market cap is $94.8M |
| What is the current revenue of FiscalNote? | FiscalNote's last 12 months revenue is $111M. |
| What is the current revenue growth of FiscalNote? | FiscalNote revenue growth (NTM/LTM) is -10%. |
| What is the current EV/Revenue multiple of FiscalNote? | Current revenue multiple of FiscalNote is 1.7x. |
| Is FiscalNote profitable? | Yes, FiscalNote is EBITDA-positive (as of the last 12 months). |
| What is the current EBITDA of FiscalNote? | FiscalNote's last 12 months EBITDA is $10.2M. |
| What is FiscalNote's EBITDA margin? | FiscalNote's last 12 months EBITDA margin is 9%. |
| What is the current EV/EBITDA multiple of FiscalNote? | Current EBITDA multiple of FiscalNote is 18.8x. |
| What is the current FCF of FiscalNote? | FiscalNote's last 12 months FCF is -$12.0M. |
| What is FiscalNote's FCF margin? | FiscalNote's last 12 months FCF margin is -11%. |
| What is the current EV/FCF multiple of FiscalNote? | Current FCF multiple of FiscalNote is -15.9x. |
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