# FiscalNote Holdings, Inc. (NOTE) · Edgar & Edgarette company card

> FiscalNote Holdings (NOTE) saw revenue fall 20.7% in FY2025 to $95 million, operating margin -51.9% against a 7.9% median for business services, equity 24.3% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 1823466 · fiscal year ended 2025-12-31 · 5 audited years read · [page](https://www.pops4.com/boards/company/NOTE) · [JSON](https://www.pops4.com/boards/company/NOTE.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $95M |
| Revenue growth, 1 year | -20.7% |
| Revenue growth per year | 3.6% |
| Operating margin | -51.9% (prior year -26.6%) |
| Net margin | -68.4% |
| Operating cash flow | −$11M |
| Capital spending | $7M |
| Free cash flow | −$19M |
| Cash | $24M |
| Long-term debt | $128M |
| Total assets | $255M |
| Total equity | $62M |
| Equity ÷ assets | 24.3% |
| Return on equity | -105.3% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: -12.08 (distress zone)
- Piotroski F: 2 of 9 (weak)
- Health Harbor boat: Rotting at the dock · four or more warning signs · filed late annual report notice in the last 12 months; slow and jumpy: growing slower than its size class, with revenue that swings more; operating cash flow was negative; operating loss: a margin of -51.9% in FY2025; revenue is hard to predict: its 80% range is ±43%
- Cash Compass: Fading · slow and jumpy, lagging its peers

## Edgarette's reading

Exposure: revenue $95.4M (FY2025), total debt $128.4M. Experience: revenue down 20.7% on the year, up 3.6% a year over 4 years; operating margin -51.9%, down from -26.6%. Soundness: equity 24.3% of assets, return on equity -105.3%. Credibility: four or more audited years, reasonable weight. Range: 80% of past cases like this landed between $50.2M and $127.1M next year (method v4.1: its own 4-year record of growth weighed at 50% against $50M–100M filers; across 2019–2025, 69.0% landed inside, 83.4% on the one year the method never saw). In a shock year the stress range is $51.9M to $123.0M. A statistical range, not company guidance. Against peers (70 filers, $50M+ revenue, services-business services, nec): operating margin -51.9% against a 7.9% median; growth -20.7% against 10.2%.

Range logged 2026-09-24, receipt df1fd684f949d517, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item NT 10-K Late annual report notice: 1, latest 2026-03-16 ([filing](https://www.sec.gov/Archives/edgar/data/1823466/000119312526108298/0001193125-26-108298-index.htm))
- Item 3.01 Exchange listing notice or transfer: 1, latest 2026-03-26 ([filing](https://www.sec.gov/Archives/edgar/data/1823466/000119312526124523/0001193125-26-124523-index.htm))
- Item 5.02 Director or officer change: 2, latest 2026-06-26 ([filing](https://www.sec.gov/Archives/edgar/data/1823466/000119312526285640/0001193125-26-285640-index.htm))

## Recent filings

- 8-K · filed 2026-09-02 · 1.01 Entry into a Material Definitive Agreement; 2.01 Completion of Acquisition or Disposition of Assets; 7.01 Regulation FD Disclosure; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1823466/000119312526380190/0001193125-26-380190-index.htm)
- 10-Q · filed 2026-08-10 · [filing](https://www.sec.gov/Archives/edgar/data/1823466/000119312526342638/0001193125-26-342638-index.htm)
- 8-K · filed 2026-08-10 · 2.02 Results of Operations and Financial Condition; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1823466/000119312526342623/0001193125-26-342623-index.htm)
- 8-K · filed 2026-07-24 · 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1823466/000119312526316071/0001193125-26-316071-index.htm)
- 8-K · filed 2026-06-26 · 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/1823466/000119312526285640/0001193125-26-285640-index.htm)
- 8-K · filed 2026-06-24 · 8.01 Other Events · [filing](https://www.sec.gov/Archives/edgar/data/1823466/000119312526281253/0001193125-26-281253-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0001823466.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=1823466

## Cite

POPS4, Edgar & Edgarette: FiscalNote Holdings, Inc. (NOTE) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/NOTE. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.