FiscalNote Holdings, Inc. (NOTE) Revenue History
Annual and quarterly revenue from 2019 to 2025
Compound Annual Growth Rate (CAGR)
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NOTE Revenue Growth
Revenue Breakdown (FY 2025)
NOTE's revenue distribution by segment and geography for fiscal year 2025
By Product/Segment
By Geography
NOTE Revenue Analysis (2019–2025)
As of May 8, 2026, FiscalNote Holdings, Inc. (NOTE) generated trailing twelve-month (TTM) revenue of $87.9 million, reflecting significant decline in growth of -27.2% year-over-year. The most recent quarter (Q1 2026) recorded $20.0 million in revenue, down 9.8% sequentially.
Looking at the longer-term picture, NOTE's 5-year compound annual growth rate (CAGR) stands at +7.9%, indicating steady revenue expansion. The company achieved its highest annual revenue of $132.6 million in 2023.
Revenue diversification analysis shows NOTE's business is primarily driven by Subscription (93%), Other Revenue (3%), and Advisory (2%). With over half of revenue concentrated in Subscription, the company maintains significant focus in this area while developing other growth vectors.
When compared to Technology sector peers including CSGP (+21.3% YoY), SPGI, and VRSK (+5.9% YoY), NOTE has underperformed the peer group in terms of revenue growth. Compare NOTE vs CSGP →
NOTE Revenue vs Peers
Revenue metrics vs comparable public companies
| Company | TTM Revenue | YoY Growth | 5Y CAGR | Op. Margin | Compare |
|---|---|---|---|---|---|
| NOTECurrent | $88M | -27.2% | +7.9% | -38.9% | |
 CSGP | $3.2B | +21.3% | +14.4% | -2.2% | |
 SPGI | $15.3B | - | - | 42.2% | |
 VRSK | $3.1B | +5.9% | +6.2% | 44.6% | |
 GOVX | $2M | -37.1% | +6.4% | -869.3% | |
 BLZE | $146M | +13.3% | +22.1% | -13.8% |
NOTE Historical Revenue Data (2019–2025)
| Year | Revenue | YoY % | Gross Profit | Gross Margin | Op. Income | Op. Margin |
|---|---|---|---|---|---|---|
| 2025 | $95.4M | -20.7% | $66.1M | 69.3% | $-37,126,000 | -38.9% |
| 2024 | $120.3M | -9.3% | $76.1M | 63.3% | $-31,941,000 | -26.6% |
| 2023 | $132.6M | +16.6% | $74.5M | 56.2% | $-97,739,000 | -73.7% |
| 2022 | $113.8M | +37.2% | $65.9M | 57.9% | $-88,189,000 | -77.5% |
| 2021 | $82.9M | +27.2% | $46.5M | 56.1% | $-55,582,000 | -67.0% |
| 2020 | $65.2M | -1.1% | $38.2M | 58.7% | $-28,966,000 | -44.5% |
| 2019 | $65.9M | - | $52.7M | 80.0% | $-29,125,000 | -44.2% |
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Start ComparisonNOTE — Frequently Asked Questions
Quick answers to the most common questions about buying NOTE stock.
Is NOTE's revenue growth accelerating or slowing?
NOTE revenue declined -27.2% year-over-year, contrasting with the 5-year CAGR of +7.9%. TTM revenue fell to $88M. This reverses the prior growth trend.
What is NOTE's long-term revenue growth rate?
FiscalNote Holdings, Inc.'s 5-year revenue CAGR of +7.9% reflects the variable expansion pattern. Current YoY growth of -27.2% is below this long-term average.
How is NOTE's revenue distributed by segment?
NOTE reports revenue by product line and geographic region. Annual and quarterly breakdowns from 2019-2025 are available for download. Segment mix reveals concentration and diversification trends.