FiscalNote Holdings reports 69% growth in run-rate revenue, reaffirms outlook

  • FiscalNote Holdings has reported preliminary results with run-rate revenue of $109M (+69% Y/Y) for FY21, above the company's guidance of $108M.
  • Organic run-rate revenue rose 12% for the year.
  • Q4 net revenue retention rate was 98.2%, up 0.9% Y/Y.
  • FY 2022 Outlook: The company reaffirms its previous run-rate revenue guidance of $173M (+58% Y/Y). Organic revenue growth is expected to increase to approximately 25% to 30% by the year-end.
  • The company projects of achieving positive adjusted EBITDA within 2023.
  • "We have increased investments in high-growth business lines which are translating into accelerating organic growth," said FiscalNote CEO Josh Resnik.
  • FiscalNote is a Washington-based technology company that is to go public via a reverse merger deal with SPAC Duddell Street Acquisition (NASDAQ:DSAC) at ~$1.3B valuation.

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