FiscalNote Holdings Inc
For the period ended Jun 30, 2024. Filed Aug 8, 2024.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Jun 30, 2024 · Filed Aug 8, 2024
NOTE$0.01+4.0%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Operations and Comprehensive Income (Loss)
(in thousands, except shares and per share data)
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Revenues: | ||||
| Subscription | $27,151 | $29,462 | $56,777 | $57,929 |
| Advisory, advertising, and other | 2,095 | 3,380 | 4,581 | 6,442 |
| Total revenues | 29,246 | 32,842 | 61,358 | 64,371 |
| Operating expenses: (1) | ||||
| Cost of revenues, including amortization | 6,863 | 9,485 | 14,107 | 18,422 |
| Research and development | 3,205 | 4,510 | 6,685 | 9,630 |
| Sales and marketing | 9,001 | 11,689 | 18,416 | 23,987 |
| Editorial | 4,453 | 4,752 | 9,113 | 9,017 |
| General and administrative | 11,260 | 16,174 | 27,336 | 34,395 |
| Amortization of intangible assets | 2,420 | 2,901 | 5,105 | 5,715 |
| Impairment of goodwill | - | - | - | 5,837 |
| Transaction costs (gains), net | - | 309 | (4) | 1,717 |
| Total operating expenses | 37,202 | 49,820 | 80,758 | 108,720 |
| Operating loss | (7,956) | (16,978) | (19,400) | (44,349) |
| Gain on sale of business (Note 4) | - | - | (71,599) | - |
| Interest expense, net | 5,320 | 7,154 | 12,682 | 13,835 |
| Change in fair value of financial instruments | (854) | 2,987 | (327) | (11,693) |
| Loss on settlement | - | 3,474 | - | 3,474 |
| Other expense (income), net | 18 | 167 | 259 | 38 |
| Net (loss) income before income taxes | (12,440) | (30,760) | 39,585 | (50,003) |
| Provision from income taxes | 324 | 213 | 1,750 | 243 |
| Net (loss) income | (12,764) | (30,973) | 37,835 | (50,246) |
| Other comprehensive income (loss) | 55 | 328 | (61) | (31) |
| Total comprehensive (loss) income | $(12,709) | $(30,645) | $37,774 | $(50,277) |
| Earnings (loss) per share attributable to common shareholders (Note 14): | ||||
| Basic and Diluted | $(0.09) | $(0.23) | $0.28 | $(0.38) |
| Weighted average shares used in computing earnings (loss) per share attributable to common shareholders: | ||||
| Basic and Diluted | 134,407,109 | 134,117,122 | 132,763,763 | 133,601,798 |
(1) Amounts include stock-based compensation expenses, as follows:
| Three Months Ended June 30, | Six Months Ended June 30, | |||
|---|---|---|---|---|
| 2024 | 2023 | 2024 | 2023 | |
| Cost of revenues, including amortization | $107 | $82 | $208 | $140 |
| Research and development | 374 | 362 | 684 | 752 |
| Sales and marketing | 270 | 317 | 696 | 677 |
| Editorial | 165 | 106 | 265 | 172 |
| General and administrative | 2,613 | 4,615 | 7,851 | 10,247 |
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