Fiscalnote Holdings, Inc. (NYSE:NOTE) Q1 2023 Earnings Conference Call May 10, 2023 8:00 AM ET

Company Participants

Sara Buda - VP, IR

Tim Hwang - Co-Founder, CEO & Chairman

Jon Slabaugh - CFO, CIO & SVP, Corporate Development

Joshua Resnik - President & COO

Conference Call Participants

Michael Latimore - Northland Capital Markets

Matthew VanVliet - BTIG

Rudy Kessinger - D.A. Davidson & Co.

Operator

Thank you for standing by. My name is Briana, and I will be your conference operator today. At this time, I would like to welcome everyone to the FiscalNote Q1 2023 Earnings Call. [Operator Instructions].

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

Sara Buda

Hi, everyone. Welcome to the FiscalNote Q1 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 are rather 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 on 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 portion 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 will review our first quarter. As always, I'll discuss our durable compounding revenue, strong gross margin, macro trends driving our business and more. I'll also talk about our long-term opportunities for asymmetric upside as we innovate around new products and customer segments. I'll then turn it over to our CFO, Jon Slabaugh, to talk about the details of our financials as we quickly pivot to approximately breakeven adjusted EBITDA in Q3 and positive adjusted EBITDA profitability in Q4 and continue on our pathway as the profitable long-term growth compounder.

Before I begin, let me start with a very brief overview of who we are and what we do for those new to the story. At FiscalNote, we're on a mission to help our customers make sense of the complicated and constantly changing world we live in by delivering a proprietary AI-enabled SaaS platform that aggregates and organizes regulatory, political and macroeconomic information and analyze the impact on their organization.