Fiscalnote Holdings, Inc. · OTC:NOTE

Fiscalnote — 27th Annual Needham Growth Conference (January 2025)

33 slides from Fiscalnote's conference presentation, Jan 15, 2025

Slide 1: Company Overview
Company Overview Josh Resnik, CEO & President 27th Annual Needham Growth Conference January 15, 2025 © 2025 FiscalNote fiscalnote.com 1
Slide 2: Disclaimer
Disclaimer Forward Looking Statements Certain statements herein may be considered forward-looking statements within the meaning of the federal securities laws. Forward-looking statements generally relate to future events or FiscalNote’s future financial or operating performance. Statements regarding
Slide 3: Table of Contents
Table of Contents 1 Products, Markets, and Customers 2 The Company 3 Key Takeaways 4 Appendix © 2025 FiscalNote 3
Slide 4: Section I: Products, Markets, and Customers
SECTION I: Products, Markets, and Customers © 2025 FiscalNote fiscalnote.com 4
Slide 5: What We Do
WHAT WE DO Deliver subscription based access to essential and proprietary policy data, insights and workflow tools via an AI-driven SaaS platform 5 5
Slide 6: AI-Enhanced, SaaS-Based, Proprietary Information Services Business
AI-Enhanced, SaaS-Based, Proprietary Information Services Business FiscalNote provides policy and regulatory intelligence to enable actionable outcomes for customers globally. Connect Data: ACTIONS Cross the silos between data sets and professionals to create relationships between structured and uns
Slide 7: Our Customers – Sample Logos
Our Customers – Sample Logos Non-Profits & Private Sector / Corporates Public Sector / Govt Orgs. NGOs HEALTHCARE ENERGY CONSUMER & FINANCE RETAIL TRANSPORT EDUCATION TMT BUSINESS SERVICES Note: Data as of December 31, 2024. © 2025 FiscalNote 7
Slide 8: Our Customers At A Glance
Our Customers At A Glance Global Target Customers Customer Dynamics 1 2 3 Private Sector Public Sector Non-Profit / NGO 4,300+ 91.9%2 [~50%]1 [~25%]1 [~25%]1 Customers Subscription Revenue as % of Total Revenues End Users >50 Legal Of Fortune 100 Government Affairs Powered by data and AI, analyzed 1
Slide 9: Use Case: Global Technology Company
Use Case: Global Technology Company Providing a centralized, integrated process to track global policy with comprehensive policy intelligence (e.g., Value public consultations, multilateral negotiations) and a dashboard of key regulatory issues across 35 countries Buyers Initial Business Challenge /
Slide 10: Proprietary Infrastructure and Expert Intelligence
Proprietary Infrastructure and Expert Intelligence Differentiators that are 10+ years in the making Sources Ingestion Processing Merge Modular collection ● Multimodal data sources framework (text, audio, video) Normalize ● Government regulation, legislation, Smart Scrapers and policy data (local, st
Slide 11: How We Differentiate
How We Differentiate An award-winning and unmatched combination of AI- FISCALNOTE DIFFERENTIATORS powered technology, global policy expertise, and Trustworthy Data and Intelligence comprehensive data. Comprehensive and real-time policy and regulatory Automated Human intelligence tailored to specific
Slide 12: Leveraging Key Competitive Advantages
Leveraging Key Competitive Advantages AI Technology for Actionable Workflow & Reporting 4 1 Data Intelligence 2 Capabilities for Proactive 3 Over a Decade of Expertise Decision Making ▪ Transforming unstructured ▪ Discovery capabilities to identify ▪ A first-mover in the space, shaping information i
Slide 13: Well Positioned to Serve an Expansive Market
Well Positioned to Serve an Expansive Market Enterprise Increasingly complex world of regulations and policy making Info Solutions TAM: $314B1 No such thing as an unregulated entity anymore Legal & Relevant professionals have increasing seniority and responsibility Regulatory Info TAM: $40B2 Use of
Slide 15: Where We've Been
Where We’ve Been CONTINUED IMPROVEMENTS SINCE PUBLIC LISTING IN 2022 1 Profitability 2 Simplification & Portfolio Rationalization 3 Product Focus • Right sized our cost structure and • Refined our product portfolio to focus • Leveraged AI technologies as the went from consistently negative in the ar
Slide 16: Building for Long-Term, Sustainable Growth
Building for Long-Term, Sustainable Growth CURRENT FOCUS [2025 Onward] 1 Product-Centric Growth 2 Expanding Profitability 3 Strengthening Capital Structure • Continue to drive product • Established operating leverage • Sunset, reduce investment in, or enhancements and launches generates high contrib
Slide 17: New Product Launch: PolicyNote
New Product Launch: PolicyNote Accelerate your next move by using the built-in AI to summarize bills, create briefings or draft position statements. Cut through the clutter with features like our AI-assisted search and customizable dashboard that help you quickly zero in on what matters. Bring it al
Slide 18: PolicyNote: Specialized AI For Policy
PolicyNote: Specialized AI For Policy Intuitive, Insightful AI Alerts “I don’t have the hours in a day to track everything single handedly. It used to take a lot of time and staff to do that, but with PolicyNote, I can quickly summarize, put the issue in context, and see if the bill is being duplica
Slide 19: Most Recent Reported Financials: 3Q24
Most Recent Reported Financials: 3Q24 FINANCIAL HIGHLIGHTS KEY PERFORMANCE INDICATORS3 • Total Revenues $29.4M • Annual Recurring Revenue (ARR) $109M • Gross Profit $23.2M • Quarterly Net Revenue Retention (NRR) 99% • Gross Margin 79% • Net Loss $(14.9)M • Adjusted Gross Profit1 $25.4M • Adjusted Gr
Slide 20: Historical Financials: AEBITDA
Historical Financials: AEBITDA TTM AEBITDA1 ($000) 1. Non-GAAP measure; refer to “Non-GAAP Financial Measures” for definitions and important disclosures regarding these financial measures; also refer to “Appendix” for reconciliations to the most directly comparable GAAP measure. © 2025 FiscalNote 20
Slide 21: Historical Financials: Free Cash Flow
Historical Financials: Free Cash Flow TTM Free Cash Flow1, 2 ($000) 1. Free Cash Flow is calculated as Cash Flow From Operating Activities minus Capex. 2. Non-GAAP measure; refer to “Non-GAAP Financial Measures” for definitions and important disclosures regarding these financial measures; also refer
Slide 22: Historical Financials: Senior Debt and Cash Interest Expense
Historical Financials: Senior Debt and Cash Interest Expense Senior Term Loan Cash Interest Expense ($000) ($000) © 2025 FiscalNote 22
Slide 24: Key Takeaways
Key Takeaways Continue to Implement Strategic Shift to Product-Led Growth and Drive 1 Improvements to Key Performance Metrics Continue to Exercise Operational Discipline and Drive Margin Expansion 2 Through Operating Leverage Continue to Optimize Costs and Rationalize Portfolio and Drive Sustainable
Slide 27: Financial Forecast – 2024
Financial Forecast – 2024 Q4 2024 Full Year 2024 Forecast Provided on Forecast Provided on Metric November 12, 2024 November 12, 2024 Total Revenue $29M ~ $120M Adjusted EBITDA1,2 $2.5M ~ $9M 1. Non-GAAP measure; refer to “Non-GAAP Financial Measures” for definitions and important disclosures regard
Slide 28: Non-GAAP Financial Measures
Non-GAAP Financial Measures Non-GAAP Financial Measures In addition to financial measures prepared in accordance with GAAP, we use certain non-GAAP financial measures to clarify and enhance our understanding, and aid in the period-to-period comparison, of our performance. Where applicable, we provid
Slide 29: Q3 2024: Reconciliation to Non-GAAP Measures
Q3 2024: Reconciliation to Non-GAAP Measures Adjusted Gross Profit and Adjusted Gross Profit Margin Three Months Ended September 30, Nine Months Ended September 30, ($ in thousands) 2024 2023 2024 2023 Total revenues $ 29,439 $ 34,009 $ 90,797 $ 98,380 Costs of revenue, including amortization of cap
Slide 30: Q3 2024: Reconciliation to Non-GAAP Measures
Q3 2024: Reconciliation to Non-GAAP Measures EBITDA, Adjusted EBITDA, and Adjusted EBITDA Margin Three Months Ended September 30, Nine Months Ended September 30, a) Reflects the gain on disposal from the sale of Board.org on March 11, 2024. ($ in thousands) 2024 2023 2024 2023 b) Reflects the non-ca
Slide 31: Reconciliation to Non-GAAP Measures
Reconciliation to Non-GAAP Measures Free Cash Flow 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 2Q24 3Q24 ($ in thousands) Cash Flow From Operations $ (39,151) $ (15,126) $ (12,826) $ (7,380) $ (11,734) $ (3,554) $ 2,741 $ (3,729) $ (2,962) Capex (2,818) (2,508) (1,869) (2,217) (1,871) (1,981) (1,692) (2,741)
Slide 32: Glossary
Glossary AI Artificial intelligence (“AI”) refers to the simulation of human intelligence in machines that are programmed to think like humans and mimic their actions. ARR Annual Recurring Revenue (“ARR”) is the value of the contracted recurring revenue components of term subscriptions normalized to

FiscalNote Holdings — 27th Annual Needham Growth Conference (January 2025) on 6ix

Fiscalnote — 27th Annual Needham Growth Conference (January 2025)

Slide 1: Company Overview

Slide 2: Disclaimer

Slide 3: Table of Contents

Slide 4: Section I: Products, Markets, and Customers

Slide 5: What We Do

Slide 6: AI-Enhanced, SaaS-Based, Proprietary Information Services Business

Slide 7: Our Customers – Sample Logos

Slide 8: Our Customers At A Glance

Slide 9: Use Case: Global Technology Company

Slide 10: Proprietary Infrastructure and Expert Intelligence

Slide 11: How We Differentiate

Slide 12: Leveraging Key Competitive Advantages

Slide 13: Well Positioned to Serve an Expansive Market

Slide 14: Section II: The Company

Slide 15: Where We've Been

Slide 16: Building for Long-Term, Sustainable Growth

Slide 17: New Product Launch: PolicyNote

Slide 18: PolicyNote: Specialized AI For Policy

Slide 19: Most Recent Reported Financials: 3Q24

Slide 20: Historical Financials: AEBITDA

Slide 21: Historical Financials: Free Cash Flow

Slide 22: Historical Financials: Senior Debt and Cash Interest Expense

Slide 23: Section III: Key Takeaways

Slide 24: Key Takeaways

Slide 25: Q&A Session

Slide 26: Section IV: Appendix

Slide 27: Financial Forecast – 2024

Slide 28: Non-GAAP Financial Measures

Slide 29: Q3 2024: Reconciliation to Non-GAAP Measures

Slide 30: Q3 2024: Reconciliation to Non-GAAP Measures

Slide 31: Reconciliation to Non-GAAP Measures

Slide 32: Glossary

Slide 33: Contact