Fiscalnote Holdings, Inc. · OTC:NOTE
Fiscalnote — Q2 2026 Earnings Presentation
27 slides from Fiscalnote's earnings presentation, Aug 10, 2026
Slide 1: FiscalNote: Powering Policy Decisions with AI-Driven Insights
FiscalNote: Powering Beer Policy Decisions with AI-Driven Insights Corporate Overview August 10, 2026 Footnote: Unless otherwise indicated, data presented herein is as of June 30, 2026. 1
Slide 2: Safe Harbor Statement
Safe Harbor Statement Certain statements herein may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or FiscalNote’s future financial or operating performance. For example,
Slide 3: Trademarks & Use of Data
Trademarks & Use of Data Safe Harbor Statement (continued) The risk factors listed on the prior slide and other factors discussed in FiscalNote’s SEC filings, including its most recent reports on Forms 10-K and 10-Q, particularly the "Risk Factors" sections of those reports, could cause actual result
Slide 4: What We Do
WHAT WE DO Deliver unique and essential political and policy related data, insights, and workflow across proprietary and third-party platforms 4
Slide 5: Section I: Products, Markets, and Customers
SECTION I: Products, Markets, and Customers 5
Slide 6: Large and Expanding Market Opportunity
Large and Expanding Market Opportunity Current Trends Enterprise Increasingly complex regulatory environment driving demand for policy Info Solutions intelligence TAM: $314B1 Rising volume and pace of rules, laws, and regulations across all levels of government, from municipal to international Growi
Slide 7: Our Customers – Sample Logos
Our Customers – Sample Logos (as of 6/30/26) Private Sector / Corporates Public Sector / Govt Orgs. NFPs & NGOs HEALTHCARE ENERGY CONSUMER & FINANCE RETAIL TRANSPORT EDUCATION TMT BUSINESS SERVICES 7
Slide 8: Our Customers At A Glance
Our Customers At A Glance (as of 6/30/26) Global Target Customers Customer Dynamics 1 2 3 Private Public Non-Profit / Sector [~48%]1 Sector [~22%]1 NGO [~30%]1 3,300+ Customers End Users 96% Legal Powered by data and AI, analyzed Subscription Revenue as by experts, our policy and global % of Total Re
Slide 9: AI-Enhanced, Proprietary Information Business
AI-Enhanced, Proprietary Information Business FiscalNote provides policy and regulatory intelligence to enable actionable outcomes for customers globally. Combine Fragmented, Unstructured Public ACTIONS Data with Unique, Proprietary Analysis: Leverage scaered global-to-local data sets that are cumb
Slide 10: Proprietary Infrastructure and Expert Intelligence
Proprietary Infrastructure and Expert Intelligence Dierentiators that are more than a decade in the making. Sources Ingestion Processing Merge Modular collection ● Multimodal data sources framework (text, audio, video) Normalize ● Government regulation, legislation, and Smart Scrapers policy data (
Slide 11: How We Differentiate
How We Dierentiate An award-winning and unmatched combination of AI-powered technology, global policy expertise, and comprehensive data. Automated Human KEY DIFFERENTIATORS Trustworthy Data and Intelligence Comprehensive Local to Global Data and SaaS Comprehensive and real-time policy and regulator
Slide 12: Section II: The Company
+ FISCALNOTE SECTION II: The Company
Slide 13: PolicyNote Unifies FiscalNote's Leading Solutions into an AI-Powered Platform
PolicyNote Unifies FiscalNote’s Leading Solutions into an AI-Powered Platform Combining trusted news, expert analysis, and expanded data sources to streamline policy management at every level of government, PolicyNote empowers organizations to move beyond monitoring policy to actively shaping it with
Slide 14: PolicyNote: AI-Driven Platform with Global Data and Proprietary Insights
PolicyNote: AI-Driven Platform with Global Data and Proprietary Insights AI THAT SPEAKS POLICY BUILT-IN AI SUMMARIES CHAT-BASED, AI-POWERED SEARCH & ALERTS CUSTOM DASHBOARD & IN-DEPTH REPORTING BILL Q&A BILL FORECASTS 14
Slide 15: Creating Competitive Differentiation
Creating Competitive Dierentiation Regular LLM Flow FiscalNote’s LLM Flow Domain expertise All User LLM potential layer Only relevant trained on Response User LLM data sources Response User prompt sources of Personalization public data prompt trained on maintained or feedback info layer public data
Slide 16: 2025 and Beyond: AI as an Accelerant
2025 and Beyond: AI as an Accelerant FiscalNote is a leading provider of AI-powered, sector-specific information and analytics that has invested over 11 years to create a deep reservoir of technical expertise, proprietary data, and purpose-built AI tools. POLICYNOTE vs GENERIC LLMs POLICYNOTE GENERIC
Slide 17: Policy Intelligence as Infrastructure for AI-Driven Consumption
Policy Intelligence as Infrastructure for AI-Driven Consumption As demand shifts toward embedded, programmatic access to policy intelligence, FiscalNote is positioning itself as the trusted infrastructure layer for AI-driven consumption. What We’ve Built Why It Maers Early Traction & Commercial Mod
Slide 18: Financial Forecast: 2026
Financial Forecast: 2026 FY 2026 Key Considerations Informing 2026 FY Forecast1 Forecast ($ in millions) (As of 8/10/2026) ● Workforce transformation and operational Total Revenues $75 to $78 restructuring announced in March, leveraging broad AI deployment, with full annualized benefit phasing in thr
Slide 19: Q2 2026 Financial Snapshot
Q2 2026 Financial Snapshot Financial Highlights Total Commentary 1 Adjusted Cash3 Revenue ARR EBITDA2 $19.6M $74.9M $2.3M $20.6M Meets Guidance Below Guidance 1. “Annual Recurring Revenue” is a key performance indicators (KPI). See “Key Performance Indicators” for the definitions and important disclo
Slide 20: Section III: Key Takeaways
SECTION III: Key Takeaways 20
Slide 21: Key Takeaways
Key Takeaways Drive Margin Expansion and Improve Operating Leverage Through Operational Transformation and Disciplined 1 Execution Strengthen the Core Subscription Business Through PolicyNote Investment in Agentic Workflows, 2 Personalization, and Improved Customer Retention Expand Addressable Market
Slide 22: Section IV: Appendix
+ FISCALNOTE SECTION IV: Appendix
Slide 23: Most Recent Reported Financials: 2Q26
Most Recent Reported Financials: 2Q26 FINANCIAL HIGHLIGHTS KEY PERFORMANCE INDICATORS(3) (as reported) (as reported) ($ in millions) 2Q26 2Q25 ($ in millions) 2Q26 2Q25 Total Revenues $19.6 $23.3 Annual Recurring Revenue (ARR) $74.9 $85.9 Gross Profit $15.6 $18.3 Pro Forma ARR* $74.9 $84.7 Gross Marg
Slide 24: Non-GAAP Financial Measures
Non-GAAP Financial Measures Non-GAAP Financial Measures In addition to financial measures prepared in accordance with GAAP, we use certain non-GAAP financial measures to clarify and enhance our understanding, and aid in the period-to-period comparison, of our performance. Where applicable, we provide
Slide 25: Q2 2026: Reconciliation to Non-GAAP Measures
Q2 2026: Reconciliation to Non-GAAP Measures Adjusted Gross Profit and Adjusted Gross Profit Margin Three Months Ended June 30, ($ in thousands) 2026 2025 Total revenues $ 19,581 $ 23,264 Costs of revenue, including amortization of capitalized software (3,976) (4,948) development costs and acquired de
Slide 26: Q2 2026: Reconciliation to Non-GAAP Measures
Q2 2026: Reconciliation to Non-GAAP Measures EBITDA, Adjusted EBITDA, and Adjusted EBITDA Margin Three Months Ended June 30, FOOTNOTES: ($ in thousands) 2026 2025 a) Reflects the gain on disposal for Dragonfly and Oxford Analytica on $ (13,271) March 31, 2025. Net loss $ (27,834) (795) b) Reflects the
Slide 27: Glossary
Glossary Artificial intelligence (“AI”) refers to the simulation of human intelligence in machines that are programmed to think like humans and mimic their AI actions. Annual Recurring Revenue (“ARR”) is the value of the contracted recurring revenue components of term subscriptions normalized to a on