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EarningsQ2 2026 Earnings Report
NOTE Q2 2026 EPS Results
Actual EPS-$1.06
Consensus EPS-$0.44
Beat/MissMissed by -$0.62
One Year Ago EPS-$0.96
NOTE Q2 2026 Revenue Results
Actual Revenue$19.58M
Expected Revenue$19.87M
Beat/MissMissed by -$289.00K
YoY Revenue Growth-15.83%
Earnings Announcement Details
QuarterQ2 2026
Date08/10/2026
TimeAfter Close
Conference CallMonday, August 10, 2026
NOTE Upcoming Earnings
FiscalNote Holdings's next earnings date is estimated for November 17, 2026, based on past reporting schedules.
Q2 2026 Earnings Call Audio
NOTE Q2 2026 Earnings Call
0:00 / 0:00
Q2 2026 Earnings Slide Deck
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Negative
The call mixed operational progress (improving net revenue retention, margin expansion, cost reductions, and a strategic API customer win) with material financial and capital challenges (double-digit revenue and ARR declines, a $19.1M goodwill impairment driving a GAAP loss, sharply lower non-subscription revenue, reduced full-year guidance, and delisting/capital-structure uncertainty). While management is emphasizing stabilization and a path to return to growth, the magnitude of declines and balance-sheet/listing issues weigh heavily on the near-term outlook.Company Guidance
Revenue Within Guidance
Q2 revenue of $19.6 million came in within guidance ($19.5M–$20.5M), demonstrating execution against near-term expectations despite a challenging environment.
Adjusted EBITDA and Margin Recovery
Adjusted EBITDA of $2.3 million (approximately $200k below guidance) with adjusted EBITDA margin of 11.9%, up from 5.1% in Q1 and roughly flat year-over-year (~12%), indicating improving profitability trends after cost actions.
Improving Net Revenue Retention and ARR Stabilization
Quarterly net revenue retention improved to 98% (from 89% in Q1 and 96% in the prior year). ARR was $74.9 million, showing only a modest quarter-over-quarter contraction (~$0.8M) and a deceleration in ARR declines compared with earlier quarters.
Disciplined Cost Reductions
Cost of revenue decreased 20%, R&D decreased 30%, sales & marketing decreased 33%, and G&A decreased 19% year-over-year. Excluding goodwill impairment and other one-time items, operating expenses declined ~12% ($2.4M).
Strong Gross Margins
GAAP gross margin was 80% (vs. 79% prior year) and adjusted gross margin improved to 88% (vs. 86% prior year), reflecting continued cost discipline and operating leverage in the subscription business.
Strategic Product Validation and Customer Base
A major global technology customer selected FiscalNote's policy Note MCP APIs after a head-to-head trial, validating the quality of the company's proprietary data. Company serves more than 3,300 customers and emphasizes differentiated content (Congressional Quarterly, Roll Call) and proprietary verified data as competitive advantages.
Right-Sizing Headcount
Net reduction of ~27 full-time equivalent employees in the quarter, bringing total headcount to ~343, aligned with cost discipline and restructuring actions.
NOTE Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed