FiscalNote Holdings announced a wave of new and expanded customer agreements on November 19, 2025, adding high‑profile names such as HP Inc., McKesson Corporation, ITG Brands, and Teladoc Health to its growing roster. The deals span technology, healthcare, consumer goods, energy, insurance, manufacturing, and professional services, underscoring the broad appeal of the company’s AI‑powered PolicyNote platform and its Global Policy Dashboard, which help clients track and manage regulatory risk worldwide.
FiscalNote’s Q3 2025 financials provide the backdrop for the partnership news. Revenue fell 4 % year‑over‑year to $22.4 million, a decline from $29.44 million in Q3 2024, while adjusted EBITDA rose to $2.2 million, exceeding the $1.8 million consensus. The company reported an earnings‑per‑share loss of $1.73 versus the $0.84 expected by analysts, a miss of $0.89 or 106 % of the consensus. Gross profit margin remained strong at 78.57 %, reflecting pricing power in the AI‑driven segment.
The revenue decline reflects a mix shift toward higher‑margin AI services and a slowdown in legacy product sales, while the EPS miss is largely attributable to a higher cost base and the absence of one‑time revenue boosts seen in prior periods. Management’s disciplined cost controls helped lift EBITDA, but the company’s focus on expanding its AI portfolio and investing in new product features has increased operating expenses, offsetting revenue growth. The company’s balance‑sheet strengthening—through divestiture of non‑core assets and refinancing—has also contributed to the cost structure changes.
CEO Josh Resnik emphasized that the new agreements demonstrate the trust large enterprises place in FiscalNote’s AI‑first approach. “Across every major sector, customers rely on our AI‑powered solutions to help them anticipate regulatory change, manage risk, and stay ahead of fast‑moving policy developments,” he said. Resnik also highlighted the company’s focus on adjusted EBITDA profitability, balance‑sheet discipline, and the stabilization of annual recurring revenue, signaling confidence in sustaining profitability amid market volatility.
The partnership wins add commercial momentum and diversify FiscalNote’s revenue base, but the company remains under pressure from a declining top line and a volatile market environment. The mixed Q3 results suggest that while the AI platform is gaining traction, the broader business still faces headwinds from slower demand in legacy segments and the need to invest heavily in product development. FiscalNote’s strategy of concentrating on high‑return verticals and refining its AI capabilities positions it for long‑term growth, but investors will likely keep a close eye on the company’s ability to translate new customer wins into sustained revenue growth.
Overall, the announcement of new global partnerships is a material event that signals strategic progress, yet it must be viewed in the context of FiscalNote’s recent financial performance and ongoing market challenges. The company’s continued focus on AI, product innovation, and balance‑sheet health will be key to sustaining momentum in the coming quarters.
The content on BeyondSPX is for informational purposes only and should not be construed as financial or investment advice. We are not financial advisors. Consult with a qualified professional before making any investment decisions. Any actions you take based on information from this site are solely at your own risk.