NOTE Stock Forecast & Price Target

FiscalNote Holdings Inc. demonstrates a strong outlook bolstered by improved profitability and effective cost management, highlighted by a projected FY25 revenue range of $94-100 million, which indicates resilience amid market conditions. The company has significantly reduced its senior debt by over 60% over the last twelve months, with further deleveraging anticipated from the planned divestiture of Oxford Analytica and Dragonfly, positioning it for healthier financial metrics in the near future. Moreover, the successful introduction of the transformative PolicyNoteAI platform is driving notable customer engagement with double the annual recurring revenue (ARR) wins compared to the previous year, suggesting robust future growth potential as bookings are expected to build momentum, particularly in the second half of 2025.

FiscalNote Holdings Inc. reported an Annual Recurring Revenue (ARR) of $107 million, a decline from the previous year's $109 million, combined with a retention rate drop from 99% to 98%, indicating weakened customer loyalty. Additionally, the company faces challenges in maintaining growth, as evidenced by a projected revenue for 2025 of $94-100 million, substantially lower than the prior forecast of $124 million, largely due to weak bookings and ongoing asset divestitures that are expected to further impact revenue generation. Lastly, FiscalNote’s historical struggle with negative GAAP operating earnings, highlighted by its 4Q24 performance, raises concerns about its ability to achieve and sustain profitability amidst uncertain macroeconomic conditions.