企業概要
FiscalNote Holdings, Inc. is a technology provider that delivers global policy and market intelligence across North America, Europe, Australia, and Asia by combining artificial intelligence with other advanced tools to generate legal and policy insights. The firm operates within the Technology sector, specifically classified under the Information Technology Services industry, which signifies its role as an enabler for data-driven decision-making in complex regulatory environments. As of the latest reporting period, the company maintains a market capitalization of $4.85M, generates annual revenue of $95.41M, and employs 407 individuals to execute its business model. The market cap figure of $4.85M relative to the annual revenue of $95.41M indicates a small-cap classification where the market valuation is significantly lower than the trailing twelve-month sales, suggesting the company operates with a price-to-sales multiple that reflects high growth expectations or significant current operational challenges.
財務健全性
The company reported a revenue of $95.41M over the trailing twelve months, yet recorded a net income of -$65,247,000 and an EBITDA of -$28,015,000, revealing a substantial gap between top-line generation and bottom-line profitability. This significant disparity between revenue and net income highlights a cost structure where operating expenses, likely driven by personnel and technology infrastructure, exceed gross profits by a wide margin. The free cash flow stands at -$10,892,750, which indicates that the company is currently consuming cash rather than generating surplus liquidity, thereby limiting its financial flexibility for internal reinvestment or debt repayment without external capital injection. Margins further illustrate the financial pressure, with a gross margin of 77.8% indicating strong pricing power or cost of goods control, contrasted sharply by an operating margin of -27.9% and a profit margin of -68.4% that reflect heavy overhead costs eroding profitability. On the balance sheet, the company holds $26.31M in cash against $151.08M in debt, resulting in a debt-to-equity ratio of 243.87, which characterizes a highly leveraged position rather than a conservative one. The current ratio of 1.02 suggests that the company's current assets barely cover its current liabilities, indicating a fragile short-term liquidity position that requires careful management of working capital. Additionally, the return on equity is -81.7% and the return on assets is -8.0%, metrics that reveal management has not yet been effective in generating positive returns on the capital invested or assets held.
バリュエーション評価
The trailing twelve-month P/E ratio is listed as N/A due to negative earnings, while the forward P/E is 0.46, a divergence that implies the market prices the stock based on anticipated future earnings rather than current performance. The price-to-book ratio stands at 0.07, indicating that the market values the company's equity at a fraction of its accounting book value, suggesting a significant discount relative to the net asset position. Alternative valuation metrics such as the price-to-sales ratio of 0.05 and an EV/EBITDA of -4.63 provide further context, showing that investors are valuing the firm primarily on sales revenue and enterprise value multiples that accommodate the negative earnings trajectory. The stock has traded between a 52-week high of $10.20 and a 52-week low of $0.24, meaning the current price sits extremely close to the bottom of this range, reflecting a substantial depreciation from its recent peak. The beta value of 0.98 indicates that the stock's price volatility mirrors that of the broader market, suggesting it does not exhibit heightened sensitivity to market swings compared to the average equity.
Growth & Income
Revenue growth year-over-year declined by 24.7%, while earnings growth is N/A due to the negative net income, indicating that top-line contraction has occurred alongside a complete absence of profit generation. Since the company does not pay dividends, evidenced by a dividend yield of N/A and a payout ratio of 0.0%, it does not distribute cash to shareholders but instead retains earnings to fund operations, although the negative free cash flow constrains this ability. The absence of a payout ratio means there is no dividend income component, and the company's strategy relies entirely on operational turnaround to restore capital for distribution or reinvestment. Overall, the growth and income profile presents a scenario of revenue contraction without profitability, resulting in a capital structure that requires external financing to sustain operations and address the negative cash flow trajectory.