FiscalNote Holdings, Inc. announced on May 5, 2025, that it has entered into a definitive agreement to divest its Australian subsidiary, TimeBase, to Thomson Reuters Corporation for a total consideration of $6.5 million. The transaction is expected to close promptly following antitrust clearance in Australia.
The net proceeds from this divestiture will be used to further pay down the existing balance of FiscalNote’s senior term loan, continuing its strategy of streamlining operations and strengthening the balance sheet. TimeBase represented approximately $1.3 million of FiscalNote’s total GAAP revenue for the 12-month period ended December 31, 2024.
Despite the financial impact of this divestiture, FiscalNote reaffirmed its full-year 2025 financial forecast, projecting total revenues of $94-$100 million and adjusted EBITDA of $10-$12 million. This reaffirmation reflects the company’s confidence in its operating plan and the accelerating performance expected from investments in its core policy offering, such as the PolicyNote platform.
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