FiscalNote Holdings, Inc. (NYSE:NOTE) Q4 2023 Results Conference Call March 12, 2024 10:00 AM ET

Company Participants

Sara Buda - Vice President, Investor Relations

Tim Hwang - Co Founder, Chairman and Chief Executive Officer

Jon Slabaugh - Chief Financial Officer and Chief Investment Officer

Josh Resnik - President and Chief Operating Officer

Conference Call Participants

Mike Latimore - Northland Capital Markets

Richard Baldry - Roth MKM

Rudy Kessinger - D.A. Davidson

Zach Cummins - B. Riley Series

Mike Albanese - EF Hutton

Operator

Good morning. My name is Krista, and I'll be your conference operator today. At this time, I would like to welcome everyone to the FiscalNote Fourth Quarter and Full Year 2023 Earnings Conference Call. All lines have been placed on mute to prevent any background noise. After the speakers’ remarks, there will be a question-and-answer session. [Operator Instructions]. Thank you.

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

Sara Buda

Hi, everybody. Welcome to the FiscalNote Investor 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 important factors that could affect our actual results, please refer to our SEC filings available on the SEC 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 or 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

Thanks, Sara. Thank you for joining us this morning. On today's call, we'll review our fourth quarter and full year results for 2023. We will also offer perspective on our strengthened balance sheet position with the recent divestiture of one of our noncore businesses which underscores our focused product strategy and our commitment to driving a strong return on invested capital.

This transaction, combined with our achievement of adjusted EBITDA profitability in Q3, one quarter earlier than we initially forecast. Our beat of adjusted EBITDA expectations in the fourth quarter from the base of a transformational 2023 for FiscalNote. In addition to hearing from Jon and me, we'll also hear from our President and COO, Josh Resnik, who will discuss our priorities for 2024.