Fiscalnote Holdings, Inc. · OTC:NOTE
Fiscalnote — Q3 2024 Earnings Presentation
30 slides from Fiscalnote's earnings presentation, Nov 12, 2024
Slide 1: FiscalNote, Inc. – Corporate Overview
FiscalNote, Inc. – Corporate Overview November 12, 2024 © 2024 FiscalNote fiscalnote.com
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: FiscalNote: Innovative, Scaled Player with Global Footprint
FiscalNote: Innovative, Scaled Player with Global Footprint $109M >50 $119M Annual Recurring of Fortune 100 are Run-Rate Revenue with Revenue as current customers as strong subscription business Oxford of Q3’244 of Q3’24 as of Q3’244 London Brussels Washington DC Seoul Gurugram Singapore 86% 99% $3.
Slide 4: Experienced Leadership Team; Leadership Succession Plan
Experienced Leadership Team; Leadership Succession Plan Announced 11/12/24 to be Effective 1/1/25 Tim Hwang Josh Resnik Jon Slabaugh Founded FiscalNote in 2013 Joined FiscalNote in 2018 Joined FiscalNote in 2019 As of Chairman, CEO, & President & Chief Operating Chief Financial Officer & Chief 11/12
Slide 5: What We Do
WHAT WE DO Deliver a SaaS-based platform for critical political, legislative and regulatory data and insights 5 5
Slide 6: Technology Bringing Critical Workflows into the Digital Age
Technology Bringing Critical Workflows into the Digital Age Government Agencies Corporates Non-Profits Secure government funding to support national Navigate increasingly complex regulatory Advocating to elected officials to ensure security and engage in global diplomacy landscape on key issues and
Slide 7: Large and Expanding Market Opportunity
Large and Expanding Market Opportunity Enterprise Info Solutions TAM: $314BN1 Market Tailwinds • Proliferation of regulatory complexity • Lack of systems to track, assess and report • Demand for workflow efficiency and automation • Increasing use of data and information in decision-making • Need for
Slide 8: Tailwind #1: Increasing Global Regulations and Uncertainty
“ Broadly speaking, I think, we as a sector need to do a better job clarifying with policymakers that, TAILWIND #1 in order to invest in innovation…we need a pricing environment that rewards innovation, particularly “ Political instability, changes to the regulatory environment or taxation, internat
Slide 9: Tailwind #2: Once In a Generation Technology Shift
TAILWIND #2 : Once In a Generation Technology Shift CORE STRENGTHS KEY OPPORTUNITIES GENERATIVE AI ✓ Subject Matter Expertise Market Leadership ✓ ✓ Proprietary Content & Data Fast Growing Market Enhanced User Experience ✓ ✓ Strong AI Talent Rapid Mass Adoption Increased Efficiencies ✓ ✓ Global Custo
Slide 10: Blue Chip Diverse Client Base
Blue Chip Diverse Client Base Relied upon and recognized across major public and private sector customers Government Non-Profits Organizations Corporates & NGOs FINANCE ENERGY CONSUMER & TRANSPORT RETAIL EDUCATION BUSINESS HEALTHCARE TMT SERVICES Combining Data, Analytics & Workflow to Drive Actiona
Slide 11: The FiscalNote Solution
The FiscalNote Solution User-Friendly Dashboards Comprehensive Data Predictive Analytics Embedded Workflows Data Combining Data, Workflow Analytics & Workflow toAnalytics Research Drive Actionable Insights Unrivaled Information Embedded Workflows AI-Powered Differentiated & & Global to Manage Action
Slide 12: Enterprise Customer Journey: Case Study
Enterprise Customer Journey: Case Study EXPANSION JOURNEY Global eCommerce Company Initial user of EU data 2019 FiscalNote Value: 2021 FiscalNote selected to modernize the • Modernized process for tracking global policy customer’s legal process for tracking global • A more proactive policy engagemen
Slide 13: Enterprise Customer Journey: Case Study
Enterprise Customer Journey: Case Study EXPANSION JOURNEY Global Technology Company Small user of FiscalNote congressional 2021 information FiscalNote Value: 2022 FiscalNote selected by public policy team to • Centralized, integrated processes for tracking global policy implement a global policy mon
Slide 14: Proprietary Ingestion and Processing Infrastructure with AI at the Core
Proprietary Ingestion and Processing Infrastructure with AI at the Core Sources Ingestion Processing Modular collection Merge Multimodal data sources framework (text, audio, video) Government regulation, legislation, Smart Scrapers Normalize and policy data (local, state, federal) Data across countr
Slide 15: From Early Adoption to Accelerating AI Leadership
From Early Adoption to Accelerating AI Leadership VoterVoice Global Intelligence FiscalNote VoterVoice Fireside21 VoterVoice AI Insights Copilot EUIT CQ FactSquared Forge Dragonfly Policy Fireside State Transcripts Copilot Curate School Google Bard Predata Boards Partnership 2013 2017 2021 2022 2023
Slide 16: Continuing to Execute on Our AI Vision
Continuing to Execute on Our AI Vision AI Product Strategy Key Takeaways Exploring licensing opportunities to Data and AI Agent Licensing broaden impact ● 1 FiscalNote is already a leading provider of AI- powered sector-specific information and analytics for the legal, regulatory, and policy industr
Slide 17: FiscalNote AI Leadership
FiscalNote AI Leadership Recognition from the world’s most prominent AI organizations 50k+ 16 9 Patents Data Sources Patents(1) Pending (1) (1) As of December 31, 2023. © 2024 FiscalNote fiscalnote.com 17
Slide 18: Q3 2024 Financials
Q3 2024 Financials © 2024 FiscalNote fiscalnote.com
Slide 19: Q3 2024 Financial Summary
Q3 2024 Financial Summary FINANCIAL HIGHLIGHTS Total Gross Net Adjusted Adjusted Revenues Profit Loss Gross Profit1 EBITDA1 Cash2 $29.4M $23.2M $(14.9)M $25.4M $3.4M $33.4M [-13% YoY] [79% gross [86% adjusted [12% adjusted margin] gross margin] EBITDA margin] (1) Non-GAAP measure. Please see "Non-GA
Slide 20: Q3 2024 Financial Summary
Q3 2024 Financial Summary KEY PERFORMANCE INDICATORS1 Annual Recurring Net Run-Rate Revenue Revenue Revenue (ARR) Retention $119M $109M 99% (1) “Run-Rate Revenue,” “Annual Recurring Revenue,” and “Net Retention Revenue” are key performance indicators (KPIs). See “Key Performance Indicators” for the
Slide 21: Financial Forecast
Financial Forecast © 2024 FiscalNote fiscalnote.com
Slide 22: Forecast
Forecast Full Year 2024 Current Forecast Previous Forecast Metric Action Provided on August 8, 2024 Provided on November 12, 2024 Total Revenue ~ $120M Updated ~ $121M Adjusted EBITDA1,2 ~ $9M Updated ~ $8M Q4 2024 Metric Current Forecast Provided on November 12, 2024 Total Revenue $29M Adjusted EBI
Slide 23: Key Takeaways
Key Takeaways FiscalNote already a leading provider of AI-powered sector-specific, 1 information, and analytics for the legal, regulatory, and policy industry Invested the last 10 years to create a deep reservoir of technical 2 expertise, world-class team, proprietary data and analytical tools Launc
Slide 24: Appendix
Appendix © 2024 FiscalNote fiscalnote.com
Slide 25: Non-GAAP Financial Measures
Non-GAAP Financial Measures Non-GAAP Financial Measures In addition to financial measures prepared in accordance with GAAP, we use certain non-GAAP financial measures to clarify and enhance our understanding, and aid in the period-to-period comparison, of our performance. Where applicable, we provid
Slide 26: Q3 2024 - Reconciliation to non-GAAP measures
Q3 2024 - Reconciliation to non-GAAP measures Adjusted Gross Profit and Adjusted Gross Profit Margin Three Months Ended September 30, Nine Months Ended September 30, ($ in thousands) 2024 2023 2024 2023 Total revenues $ 29,439 $ 34,009 $ 90,797 $ 98,380 Costs of revenue, including amortization of ca
Slide 27: 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, ($ in thousands) 2024 2023 2024 2023 (a) Reflects the gain on disposal from the sale of Board.org on March 11, 2024. (a) Reflects the non
Slide 28: Equity Capital - Fully Diluted Shares
Equity Capital - Fully Diluted Shares Represents shares and dilutive securities outstanding at various price per share levels, in millions Common Stock $1.28 $5.50 $7.50 $10.50 $12.50 $15.00 $20.00 $25.00 Shares held by Affiliates 45.1 45.1 45.1 45.1 45.1 45.1 45.1 45.1 Public Class A Shares held by
Slide 29: 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
Slide 30: Contact
Contact ir@fiscalnote.com © 2024 FiscalNote fiscalnote.com