note stock: FiscalNote (NOTE) Overview

This article explains the 'note stock' ticker for FiscalNote Holdings, Inc. (NOTE) — covering the company profile, business model, listing and trading details, financials, corporate history, risks,...

2024-07-06 04:59:00

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NOTE (FiscalNote Holdings, Inc.) — Stock overview

Keyword notice: the term "note stock" in this article refers to FiscalNote Holdings, Inc. Class A common stock traded under the ticker NOTE on the NYSE.

Intro: The term note stock identifies FiscalNote Holdings, Inc. shares listed as NOTE on the New York Stock Exchange. This guide explains who FiscalNote is, what drives its business, key historical events and corporate actions affecting the note stock, trading and liquidity considerations, recent financial highlights, governance and ownership, main risks, and where to find authoritative filings. Readers will leave with practical, verifiable information and pointers for further research.

Company profile

FiscalNote is an AI- and data-driven policy and regulatory intelligence company founded in 2013 and headquartered in Washington, D.C. The firm builds machine-assisted workflows and research tools designed to track legislation, regulations and policy developments globally. FiscalNote’s product set typically includes subscription platforms and enterprise services such as PolicyNote, CQ Federal (through historical partnerships/acquisitions), Global Policy Dashboards, and advisory research offerings used by enterprises, governments, non-profits and law firms.

The note stock represents equity ownership in a company positioned at the intersection of policy data, machine learning and enterprise software-as-a-service (SaaS). FiscalNote sells recurring subscriptions, custom research and advisory engagements; it positions its technology to help clients anticipate regulatory risk, accelerate compliance workflows and support public-affairs strategies.

Stock listing and basic trading information

Ticker: NOTE (commonly referred to in this article as the note stock).
Exchange: New York Stock Exchange (NYSE).
Share class: Class A ordinary shares (publicly traded).
Typical market-cap profile: at times the note stock has traded in a micro-cap range; market capitalization has been variable based on share price and corporate actions.
Common investor metrics to review for the note stock: last traded price, market capitalization, shares outstanding, public float, average daily volume, 52-week range, price/sales ratio, and (if available) earnings per share (EPS) or adjusted metrics reported in filings.

Note: Share counts, market cap and real-time prices change daily. For the latest exact numbers for the note stock, consult the company’s SEC filings and the investor relations page (see the Regulatory filings and disclosures section below).

Corporate history and milestones

A timeline-style summary of material events that have affected the note stock:

2013 — FiscalNote founded in Washington, D.C.; early growth focused on government affairs and legislative data.
Mid-2010s to early 2020s — Product expansion into machine learning and enterprise policy intelligence, with acquisitions and partnerships to broaden content and distribution.
SPAC / public listing events — The company transitioned to public markets via a business-combination or listing event that resulted in the NOTE ticker appearing on NYSE (investors should confirm the exact listing structure in the company’s S-4 or related filings).
Non-core asset sales — FiscalNote at times disposed of non-core assets (for example, TimeBase or other legacy units) to focus on core policy intelligence offerings.
Debt and refinancing events — The company has executed debt financings and refinancing transactions, including convertible notes or structured instruments that affected capital structure.
Convertible and structured securities issuance — FiscalNote has used convertible instruments and post-transaction financing (reports have referenced vehicles such as YA II PN convertible notes in investor disclosures).
Reverse stock split — The company reported a reverse stock split (reported 1-for-12), a corporate action that reduced the number of outstanding shares and adjusted per-share metrics. Such events materially affect historical price comparisons for the note stock.

Each of these events has had implications for dilution, float, trading liquidity and enterprise value. Investors should check the company’s historical 8-K and proxy filings for precise dates and terms.

Business model and products

FiscalNote generates revenue primarily from recurring subscriptions and enterprise contracts for policy and regulatory intelligence products, supplemented by advisory and research services. Core product and service elements tied to the note stock business case include:

PolicyNote platform: a SaaS offering aggregating legislation, regulatory activity and policy signals with search and alerting functions.
Global Policy Dashboard: dashboards and visualization tools for tracking policy developments across jurisdictions.
CQ Federal integration & content partnerships: content and editorial assets used in public-affairs and government-relations workflows.
Advisory and custom research: bespoke institutional research, geopolitical risk reports and policy scenario analysis.
Data licensing: enterprise licensing of structured policy data and API access for integration into client systems.

Revenue mix: Historically, FiscalNote has emphasized subscription and ARR (annual recurring revenue) growth as key metrics. The company monetizes both seat-based SaaS licenses and higher-touch enterprise engagements. Gross margin dynamics typically reflect software and content costs, editorial/data acquisition and the cost of maintaining machine-learning infrastructure.

Competitive positioning: FiscalNote competes in the niche market of regulatory intelligence and policy data. Competition is a mix of specialized policy-research boutiques, government-data providers and adjacent enterprise SaaS firms offering compliance or legislative-monitoring tools. FiscalNote’s strategic claims rest on proprietary data collection, machine-assisted signal detection and product integrations targeted to public sector and enterprise clients.

Financial performance and key metrics

As with any public company, the note stock’s investment thesis rests on financial trends and metrics disclosed in SEC filings. Below are commonly cited items for investor review and recent highlights reported by the company earlier in its reporting cycle (please confirm the latest numbers in official filings):

Revenue and quarterly trends: As of FiscalNote’s Q3 2025 reporting, the company reported approximately $22.4 million in revenue for the quarter and discussed adjusted EBITDA trends in its investor materials. (Source: company press release and Form 10-Q for the relevant quarter — confirm specific filing date).
ARR and subscription metrics: FiscalNote has reported ARR and subscription renewal rates as measures of recurring revenue stability. ARR growth or contraction materially affects expectations for the note stock.
Profitability: Historically the company has reported net losses as it invests in product and sales; adjusted profitability metrics (adjusted EBITDA, non-GAAP measures) have been used to show operating leverage.
Balance sheet & liquidity: FiscalNote has executed debt refinancing transactions. Investors reviewing the note stock should check debt levels, maturities, covenants, and available cash reported in the latest 10-Q or 10-K.
Useful valuation ratios: price/sales (P/S), enterprise value to revenue, and forward revenue multiples are common for evaluating the note stock relative to peers. Earnings-based multiples (P/E) may be less meaningful if the company is not consistently profitable.

Note: All dollar figures and ratios should be verified against the latest audited financial statements. The company’s investor relations materials and SEC filings are the primary sources for precise, up-to-date figures.

Stock price history and performance

The price history of the note stock has shown notable volatility driven by company news, broader market moves and corporate actions:

Multi-range price behavior: The note stock has traded across a wide band; published summaries have noted 52-week highs near $24.36 and lows near the low-single-digit range (roughly $1.4–$2) at different points. Share prices before and after the reverse stock split should be compared using split-adjusted data.
Volatility drivers: Earnings releases, guidance changes, refinancing events, announcement of asset sales, or convertible-note issuances have driven intraday and multi-day moves in the note stock. Market sentiment for small-cap tech names and macro factors (rate expectations, liquidity) also influence price swings.
Short-term performance windows: The note stock has experienced rapid moves on quarter-end releases and corporate-action announcements; average daily volume can be low relative to large-cap equities, which amplifies price movements on blocks of shares.

Investors tracking the note stock should consult historical price charts that are adjusted for reverse splits, dividend-like distributions (if any), and corporate reorganizations.

Corporate actions and capital structure

Key capital-structure and corporate actions relevant to holders of the note stock:

Reverse stock split: The company reported a reverse split (1-for-12), which consolidated outstanding shares and adjusted per-share pricing metrics. Such splits do not change enterprise value but reduce share count and can affect exchange listing compliance thresholds and per-share metrics.
Convertible debentures and financing instruments: FiscalNote has issued convertible or structured debt (reports have cited instruments involving lenders such as YA II PN in market summaries). These instruments can convert into common shares under specified conditions and are a potential source of dilution for the note stock.
Debt refinancing and maturities: The firm executed refinancing actions to manage interest costs and maturities; details on covenants and repayment schedules are in the company’s 10-Q/10-K and related 8-K filings.
Asset sales and carve-outs: Sales of non-core assets (e.g., TimeBase in prior disclosures) reduced complexity and may have provided one-time cash inflows that affect net debt and solution focus.

Investors should read the terms of convertible instruments and the most recent proxy statement to understand outstanding dilutive securities and anti-dilution protections affecting the note stock.

Governance and management

Leadership and governance items for investors in the note stock:

Executive leadership: The company’s public disclosures identify key executives and founders; market summaries list names such as CEO Josh W. Resnik and Executive Chairman Timothy Hwang among stewardship roles (confirm present incumbents in the latest proxy statement).
Board and governance: The board’s composition, committee structure and independence disclosures are in the proxy statement. Investors commonly review the board’s experience in SaaS, data, and regulated-industry advisory services when assessing management oversight for the note stock.
Executive changes and compensation: Any recent executive hires, departures, or compensation structures (equity grants, performance-based pay) should be examined in 8-K filings and the annual proxy; these can influence investor perceptions of alignment with shareholders.

Good governance practice for holders of the note stock includes tracking the company’s proxy materials and annual reports for disclosures on related-party transactions, executive stock ownership and shareholder rights.

Ownership, float, and trading interest

Ownership and liquidity characteristics relevant to the note stock:

Shares outstanding and float: The note stock’s public float can be materially affected by insider ownership, recent secondary sales and conversions of outstanding instruments. Reverse splits change per-share metrics but not ownership percentages absent other actions.
Institutional ownership: Institutional stakes can be limited for micro-cap or newer public companies. Reports from financial portals sometimes list institutional holders; confirm holdings via the latest 13F filings for funds and the company’s disclosures.
Short interest: Short interest and percent of float shorted are useful for assessing potential squeeze dynamics and negative sentiment; these metrics can be volatile for the note stock due to lower float and episodic trading volume.
Trading volume and liquidity: Average daily volume may be lower than large-cap names; lower liquidity can increase price impact for buyers or sellers of significant blocks of the note stock.

Investors should confirm ownership and short-interest data with up-to-date market-data providers and the company’s public filings.

Analyst coverage and market sentiment

Coverage level: The note stock has received mixed coverage from sell-side and independent analysts; coverage frequency and depth can be limited compared with larger-cap SaaS companies.
Common themes: Analyst research often debates growth potential in policy intelligence versus risks tied to profitability, cash flow and capital structure. Some analysts emphasize long-term demand for AI-enabled policy tools, while others highlight execution and balance-sheet constraints.
Price targets and ratings: Where coverage exists, target-price ranges and ratings have varied. Investors should read the full analyst notes and consider the date and assumptions behind each model when interpreting ratings for the note stock.

Recent developments and news (selected)

Financial reporting: As of the company’s most recent quarterly report, the note stock’s issuer reported quarter results, commentary on ARR and adjusted EBITDA, and provided management commentary on revenue trends. For example, FiscalNote discussed Q3 2025 revenue near $22.4M and narrowing adjusted EBITDA as part of its operational update (confirm exact dates and figures in the reported 8-K/10-Q).
Product updates and partnerships: The company periodically announces product enhancements to PolicyNote and expanded data partnerships; these operational developments are relevant to revenue growth expectations for the note stock.
Investor events: FiscalNote participates in investor conferences and posts archived presentations on its investor relations page; these materials are key sources of management guidance and strategy updates for the note stock.
Filings and compliance: Any delays in filings, material 8-K disclosures, or shifts in auditor opinion are material for the note stock. Investors should track Form 8-K and 10-Q filings for the most recent information.

As of Jan 24, 2026, macro market commentary from strategists noted an earnings-driven market backdrop and potential Fed rate easing that can improve risk appetite for equities. (Source: Yahoo Finance coverage of market strategist commentary — consult the original article for date-stamped context.) Such macro trends can influence sentiment for smaller public technology names, including the note stock.

Risks and controversies

Risks relevant to investors in the note stock include:

Liquidity and micro-cap volatility: The note stock’s lower market cap and float can produce pronounced price swings and wider bid-ask spreads.
Operating losses and profitability risk: If the company runs operating losses or inconsistent cash flows, future financing may be required, leading to dilution that affects the note stock.
Leverage and refinancing risk: Existing convertible instruments and outstanding debt carry refinancing and interest-rate risks. Failure to refinance on favorable terms could strain liquidity.
Execution and competitive risk: The regulatory intelligence market is competitive; revenue growth depends on product adoption and client retention.
Corporate-governance and disclosure risk: Any material weaknesses in controls or delayed filings are significant for the note stock and may impair investor confidence.

Additionally, general market risks — macroeconomic shifts, sector rotations and changes in risk appetite — will affect the note stock. This section intentionally does not provide investment advice; it lists common risk factors investors often consider.

How to trade and invest in NOTE

Where it trades: The note stock trades on the NYSE under the ticker NOTE. For those looking to trade or research the company, use a regulated broker or trading platform with access to NYSE-listed equities.
Bitget: For users of Bitget and readers of this Bitget Wiki content, consider accessing the NYSE and researching equities through Bitget’s trading interface and the Bitget Wallet for custody if supported; consult Bitget’s platform resources for availability and account requirements.
Due diligence checklist for the note stock: review the latest SEC filings (10-Q/10-K/8-K), read recent earnings transcripts and investor presentations, examine the cap table for outstanding convertibles, and assess liquidity and average daily volume before placing trades.
Trading caution: Micro-cap stocks such as the note stock can have wide intraday moves; position sizing and limit orders can help manage execution risk.

This section is informational and not investment advice. Always consult your financial professional and the company’s official disclosures before making investment decisions about the note stock.

Regulatory filings and disclosures

Authoritative sources for information on the note stock include:

SEC filings: Form 10-Q (quarterly), Form 10-K (annual), Form 8-K (material events), proxy statements (DEF 14A) and S-1/S-4 filings around listing or transaction events.
Company investor relations: Press releases, earnings slides, and archived webcasts.
Major financial portals for secondary data: MarketWatch, Yahoo Finance, Seeking Alpha, CNBC summaries and Morningstar provide market-data snapshots and third-party commentary; use them as complements to primary SEC documents.

As of Jan 24, 2026, third-party market commentary emphasized an earnings-driven market backdrop that can support improved sentiment for growth-oriented names; however, specific investor decisions about the note stock should be grounded in FiscalNote’s own filings. (Source: Yahoo Finance and related reporting — check the original dated articles for context.)

References and sources

This article synthesizes company-reported SEC filings (10-Q, 10-K, 8-K, proxy statements) and public-market summaries from major financial information providers. Notable sources commonly used to verify facts about the note stock include MarketWatch, Yahoo Finance, Seeking Alpha, CNBC, Morningstar and company press releases. All numerical figures in this article should be cross-checked against the latest official filings for the note stock.