FiscalNote Holdings, Inc.
For the period ended Sep 30, 2025. Filed Nov 10, 2025.
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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.
Sep 30, 2025 · Filed Nov 10, 2025
NOTE$0.01+4.0%Stored close · as of Nov 10, 2026
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Condensed Consolidated Statements of Cash Flows
(in thousands)
| Nine Months Ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Operating Activities: | ||
| Net (loss) income | $(42,376) | $22,900 |
| Adjustments to reconcile net (loss) income to net cash used in operating activities: | ||
| Depreciation | 790 | 905 |
| Amortization of intangible assets and capitalized software development costs | 13,251 | 14,699 |
| Amortization of deferred costs to obtain revenue contracts | 2,471 | 2,795 |
| Gain on sale of businesses (Note 4) | (16,585) | (71,599) |
| Non-cash operating lease expense | 1,470 | 1,567 |
| Stock-based compensation | 10,975 | 13,885 |
| Other non-cash expenses | - | 4 |
| Bad debt expense | 316 | 201 |
| Change in fair value of acquisition contingent consideration | - | (4) |
| Unrealized loss on securities | 67 | 95 |
| Change in fair value of financial instruments | 7,900 | 3,174 |
| Deferred income taxes | (1,288) | (838) |
| Paid-in-kind interest, net | 4,201 | 5,995 |
| Non-cash interest expense | 2,602 | 2,244 |
| Loss on debt extinguishment, net | 7,958 | - |
| Changes in operating assets and liabilities: | ||
| Accounts receivable, net | 1,072 | 4,149 |
| Prepaid expenses and other current assets | (1,384) | (1,429) |
| Costs capitalized to obtain revenue contracts, net | (1,742) | (2,155) |
| Other non-current assets | (7) | 163 |
| Accounts payable and accrued expenses | (74) | (3,047) |
| Deferred revenue | 3,510 | 4,796 |
| Customer deposits | (772) | (928) |
| Other current liabilities | (999) | 1,082 |
| Contingent liabilities from acquisitions, net of current portion | - | (13) |
| Operating lease liabilities | (2,327) | (2,538) |
| Other non-current liabilities | (193) | (53) |
| Net cash used in operating activities | (11,164) | (3,950) |
| Investing Activities: | ||
| Capital expenditures | (5,561) | (6,875) |
| Cash proceeds from the sale of businesses, net (Note 4) | 46,913 | 91,384 |
| Net cash provided by investing activities | 41,352 | 84,509 |
| Financing Activities: | ||
| Proceeds from long-term debt, net of issuance costs | 100,985 | 801 |
| Principal payments of long-term debt | (128,353) | (65,781) |
| Payment of deferred financing costs | (5,273) | (7,068) |
| Proceeds from exercise of stock options and employee stock purchase plan purchases | 275 | 474 |
| Net cash used in financing activities | (32,366) | (71,574) |
| Effects of exchange rates on cash | 52 | 86 |
| Net change in cash, cash equivalents, and restricted cash | (2,126) | 9,071 |
| Cash, cash equivalents, and restricted cash, beginning of period | 29,454 | 17,300 |
| Cash, cash equivalents, and restricted cash, end of period | $27,328 | $26,371 |
| Supplemental Noncash Investing and Financing Activities: | ||
| Issuance of common stock for conversion of debt and interest | $1,902 | $10,934 |
| Amounts held in escrow related to the sale of businesses | $738 | $285 |
| Property and equipment purchases included in accounts payable | $67 | $74 |
| Supplemental Cash Flow Activities: | ||
| Cash paid for interest | $7,360 | $11,723 |
| Cash paid for taxes | $999 | $277 |
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