FiscalNote Holdings, Inc. (NYSE:NOTE) Q2 2023 Earnings Conference Call August 9, 2023 9:00 AM ET

Company Participants

Sara Buda – Vice President-Investor Relations

Tim Hwang – Co-Founder, Chairman and Chief Executive Officer

Jon Slabaugh – Chief Financial Officer

Josh Resnik – President and Chief Operating Officer

Conference Call Participants

Mike Latimore – Northland Capital Markets

Richard Baldry – ROTH MKM

Matt VanVliet – BTIG

Rudy Kessinger – D.A. Davidson

Mike Albanese – E.F. Hutton

Zach Cummins – B. Riley Securities

Operator

Good morning, ladies and gentlemen, my name is Abby, and I will be your conference operator today. At this time, I would like to welcome everyone to the FiscalNote Second Quarter 2023 Earnings Conference Call. Today’s conference is being recorded and all lines have been placed on mute to prevent any background noise. [Operator Instructions]

Thank you, and I will now turn the conference over to Sara Buda, Vice President of Investor Relations. You may begin.

Sara Buda

Hi, everyone. Welcome to the FiscalNote Q2 2023 earnings call. During this call, we may make certain statements related to our business that are forward-looking statements under federal securities laws. These statements are not guarantees of future performance, but rather are subject to a variety of risks and uncertainties. Our actual results could differ materially from expectations reflected in any forward-looking statements. For a discussion of the material risks and other important factors that could affect our actual results, please refer to our SEC filings available on the SEC’s EDGAR system and our website as well as the risks and other important factors discussed in today’s earnings release.

Additionally, non-GAAP financial measures and other KPIs will be discussed on this conference call. Please refer to the tables in our earnings release and the Investor Relations portions of our website for a reconciliation of these measures to their most directly comparable GAAP financial measure.

With that, I’d like to turn the call over to FiscalNote’s Chairman, CEO and Co-Founder, Tim Hwang.

Tim Hwang

Thank you, Sara. On today’s call, we review our second quarter results, our outlook for the remainder of the year and discuss our durable compounding revenue, strong gross margins and the macro trends driving our business. I’ll also talk about our Q3 guidance and our expectation to reach the inflection point of adjusted EBITDA profitability in Q3 a quarter earlier than expected. This will be a tremendous milestone for the company and reflects the hard work of the entire FiscalNote team to be able to achieve this ahead of schedule.