FiscalNote narrows net loss to $5.9 million in Q3 2026 while reaffirming full-year guidance, as the company continues a strategic review of potential asset divestitures to drive further efficiency.
Q3 2026 adjusted EBITDA rose 65% to $3.6 million, in line with guidance, and net loss narrowed 76% to $5.9 million, with FY26 guidance reaffirmed — supportive for the stock. But this came from deep cost cuts (opex down 39%) while ARR fell about 14% pro forma to $67.7 million and TTM net revenue retention was only 79%, so profitability is improving on a shrinking base, which offsets the positives.
FiscalNote Holdings reported Q3 2026 revenue of $18.7 million, with adjusted EBITDA climbing 65% to $3.6 million as the company aggressively reduced operating expenses by 39%. Despite improved profitability, the firm faces a shrinking revenue base, with pro forma annual recurring revenue falling 14% to $67.7 million and trailing twelve-month net revenue retention at 79%.
Revenue of $18.7 million was within the guidance range when adjusted for the FrontierView divestiture, and adjusted EBITDA of $3.6 million was in line with the roughly $3.5 million guided.
Costs fell 39% year over year, but annual recurring revenue dropped about 14% pro forma and trailing twelve month net revenue retention was 79%, meaning the company is cutting its way to profitability while customers decline.