
Company expects to be Free Cash Flow positive over the next twelve month period as it sharpens focus on delivering AI-driven policy intelligence and long-term shareholder value


FiscalNote Holdings, Inc. (OTC:NOTE), a

<p xmlns="http://www.w3.org/1999/xhtml" class="bwalignc">
<b xmlns="http://www.w3.org/1999/xhtml"><i xmlns="http://www.w3.org/1999/xhtml">Company expects to be Free Cash Flow positive over the next twelve month period as it sharpens focus on delivering AI-driven policy intelligence and long-term shareholder value</i></b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
FiscalNote Holdings, Inc. (<b xmlns="http://www.w3.org/1999/xhtml">OTC:<a class="ticker" href="https://www.benzinga.com/quote/NOTE">NOTE</a></b>), a global leader in AI-driven policy and regulatory intelligence, today announced that its Class A common stock is trading on the OTCID market under the ticker symbol NOTE.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The OTCID market, operated by OTC Markets Group, provides an efficient trading venue for companies committed to transparency and investor access. In addition, FiscalNote intends to pursue available opportunities to list its Class A common stock on other tiers or exchanges that offer further improvements to investor access and liquidity.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Importantly, FiscalNote's transition to trading on the OTC markets does not affect its operations, commitment to customers, or the continued development of its PolicyNote platform. The Company remains dedicated to serving advocacy organizations, corporations, and government affairs professionals with the most complete, real-time view of the global policy landscape. FiscalNote continues to drive value for its customers and shareholders by delivering best-in-class AI-driven policy intelligence through the PolicyNote suite.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Having delivered ten consecutive quarters of Adjusted EBITDA profitability, and having now transitioned to forecast positive Free Cash Flow over the next 12 months, FiscalNote is well-positioned to capitalize on the growing demand for AI-driven policy intelligence. With advocacy organizations, corporations, and government affairs professionals increasingly needing to navigate an ever-complex regulatory environment, the Company&#39;s PolicyNote suite, spanning legislative tracking, regulatory monitoring, stakeholder engagement, and grassroots mobilization, addresses a large and expanding market opportunity.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Company also is expanding its PolicyNote API capabilities, including the recent introduction of an MCP server that enables AI agents (such as those built on Anthropic, OpenAI, Google Gemini, and Microsoft) to utilize FiscalNote's unique data assets in powering new applications and workflows. This positions FiscalNote's policy intelligence as core infrastructure for AI-driven consumption and, through the Company's integration with OpenAI announced last month, enables developers, policy analysts, and enterprise teams globally to access structured policy and regulatory data directly within ChatGPT. FiscalNote also has announced that it is entering the fast-growing political predictions market through a broad portfolio of offerings that leverage its domain expertise and proprietary data, including prediction markets as well as engagement formats such as tip sheets and fantasy-style experiences. Together, these initiatives expand the ways FiscalNote can monetize its insights across multiple touchpoints within this rapidly evolving ecosystem.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Shareholders do not need to take any action as a result of the transition to OTCID. The Company&#39;s shares will continue to be accessible through broker-dealers that facilitate OTC securities trading.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About FiscalNote</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
FiscalNote (OTC:<a class="ticker" href="https://www.benzinga.com/quote/NOTE">NOTE</a>), the global leader in AI-driven policy intelligence, helps organizations track legislation, analyze regulation, and engage stakeholders through the PolicyNote suite, its flagship platform and APIs. Built to ensure the most complete, real-time view of the policy landscape, PolicyNote delivers synthesized, expert-driven analysis integrated with AI-powered monitoring, fueled by the trusted analysis and reporting of CQ and Roll Call, and the grassroots mobilization power of VoterVoice. From the Committee Room to the Board Room, FiscalNote's PolicyNote suite ensures every user has the unmatched clarity and speed needed to understand and impact policy.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Forward-Looking Statements</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or FiscalNote's future financial or operating performance. In some cases, you can identify forward-looking statements by terminology such as "pro forma," "may," "should," "could," "might," "plan," "possible," "project," "strive," "budget," "forecast," "expect," "intend," "will," "estimate," "anticipate," "believe," "predict," "potential" or "continue," or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These and other important factors discussed in FiscalNote's SEC filings, including its most recent reports on Forms 10-K and 10- Q, particularly the &#34;Risk Factors&#34; sections of those reports, could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by FiscalNote and its management, are inherently uncertain. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place reliance on forward-looking statements, which speak only as of the date they are made. FiscalNote undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260406985875r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260406985875/en/" rel="nofollow">https://www.businesswire.com/news/home/20260406985875/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Media 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>Yojin Yoon
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:press@fiscalnote.com" shape="rect">press@fiscalnote.com</a>

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Investor Relations 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>Jon Slabaugh
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:ir@fiscalnote.com" shape="rect">ir@fiscalnote.com</a>

</p>

NOTE

FiscalNote Stock Begins Trading on OTCID Market as the Company Explores Uplisting Options

FiscalNote Forecasts Positive Cash Flow and Expands AI-Driven Offerings

<section class="insight" data-version="1">
  <section data-block="information">
    <h3>Information</h3>
    <p>Company expects to be Free Cash Flow positive over the next twelve month period as it sharpens focus on delivering AI-driven policy intelligence and long-term shareholder value


FiscalNote Holdings, Inc. (OTC:NOTE), a</p>
  </section>

  <section data-block="ai-summary-paragraph">
    <h3>AI Summary</h3>
    <p>FiscalNote expects to achieve positive free cash flow in the next 12 months while it enhances AI-focused policy intelligence. The transition to the OTCID market aims to improve investor access, signaling growth potential and market interest in its new offerings.</p>
  </section>

  <section data-block="ai-summary-bullets">
    <h3>Key Points</h3>
    <ul><li>FiscalNote projects positive cash flow over the next year.</li><li>Company&#039;s Class A shares now trade on OTCID market.</li><li>FiscalNote has achieved ten quarters of Adjusted EBITDA profitability.</li><li>Expansion into AI-driven regulatory intelligence and political predictions is underway.</li><li>No immediate shareholder action is required due to OTC transition.</li></ul>
  </section>

  <section data-block="companies-mentioned">
    <h3>Companies Mentioned</h3>
    <ul><li><strong>OpenAI (N/A)</strong>: Collaboration enhances FiscalNote&#039;s AI capabilities.</li><li><strong>Anthropic (N/A)</strong>: AI integration supports additional application developments.</li><li><strong>Google Gemini (N/A)</strong>: Partnerships expand data utilization for FiscalNote.</li><li><strong>Microsoft (MSFT)</strong>: Potential collaboration with Microsoft enhances FiscalNote&#039;s platform.</li></ul>
  </section>

  <section data-block="category">
    <h3>Corporate Developments</h3>
    <p>This news falls under &#039;Corporate Developments&#039; as FiscalNote is enhancing its market position and strategic initiatives, indicating a focus on growth and financial health amid a shifting market landscape.</p>
  </section>

  <section data-block="market-moving">
    <h3>Market-Moving</h3>
    <ul><li>Positive free cash flow forecast could enhance investor confidence and stock price.</li><li>Transition to OTCID market may increase liquidity and shareholder interest.</li><li>Expansion into political predictions broadens revenue streams, potentially driving sales.</li></ul>
  </section>

  <section data-block="key-facts">
    <h3>Key Facts</h3>
    <ul><li>FiscalNote has delivered ten consecutive quarters of positive Adjusted EBITDA.</li><li>The company expects to become free cash flow positive within 12 months.</li><li>Shares trade on the OTCID market, signaling an emphasis on transparency.</li><li>FiscalNote&#039;s PolicyNote suite addresses a growing demand for policy intelligence.</li><li>FiscalNote integrates with OpenAI for access to structured regulatory data.</li></ul>
  </section>

  <section data-block="trading-thesis">
    <h3>Trading Thesis</h3>
    <p>Buy NOTE as cash flow positivity and AI expansion will boost valuation in the next year.</p>
  </section>
</section>


<p xmlns="http://www.w3.org/1999/xhtml" class="bwalignc">
<b xmlns="http://www.w3.org/1999/xhtml"><i xmlns="http://www.w3.org/1999/xhtml">Company expects to be Free Cash Flow positive over the next twelve month period as it sharpens focus on delivering AI-driven policy intelligence and long-term shareholder value</i></b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
FiscalNote Holdings, Inc. (<b xmlns="http://www.w3.org/1999/xhtml">OTC:<a class="ticker" href="https://www.benzinga.com/quote/NOTE">NOTE</a></b>), a global leader in AI-driven policy and regulatory intelligence, today announced that its Class A common stock is trading on the OTCID market under the ticker symbol NOTE.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The OTCID market, operated by OTC Markets Group, provides an efficient trading venue for companies committed to transparency and investor access. In addition, FiscalNote intends to pursue available opportunities to list its Class A common stock on other tiers or exchanges that offer further improvements to investor access and liquidity.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Importantly, FiscalNote's transition to trading on the OTC markets does not affect its operations, commitment to customers, or the continued development of its PolicyNote platform. The Company remains dedicated to serving advocacy organizations, corporations, and government affairs professionals with the most complete, real-time view of the global policy landscape. FiscalNote continues to drive value for its customers and shareholders by delivering best-in-class AI-driven policy intelligence through the PolicyNote suite.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Having delivered ten consecutive quarters of Adjusted EBITDA profitability, and having now transitioned to forecast positive Free Cash Flow over the next 12 months, FiscalNote is well-positioned to capitalize on the growing demand for AI-driven policy intelligence. With advocacy organizations, corporations, and government affairs professionals increasingly needing to navigate an ever-complex regulatory environment, the Company&#39;s PolicyNote suite, spanning legislative tracking, regulatory monitoring, stakeholder engagement, and grassroots mobilization, addresses a large and expanding market opportunity.

</p><p xmlns="http://www.w3.org/1999/xhtml">
The Company also is expanding its PolicyNote API capabilities, including the recent introduction of an MCP server that enables AI agents (such as those built on Anthropic, OpenAI, Google Gemini, and Microsoft) to utilize FiscalNote's unique data assets in powering new applications and workflows. This positions FiscalNote's policy intelligence as core infrastructure for AI-driven consumption and, through the Company's integration with OpenAI announced last month, enables developers, policy analysts, and enterprise teams globally to access structured policy and regulatory data directly within ChatGPT. FiscalNote also has announced that it is entering the fast-growing political predictions market through a broad portfolio of offerings that leverage its domain expertise and proprietary data, including prediction markets as well as engagement formats such as tip sheets and fantasy-style experiences. Together, these initiatives expand the ways FiscalNote can monetize its insights across multiple touchpoints within this rapidly evolving ecosystem.

</p><p xmlns="http://www.w3.org/1999/xhtml">
Shareholders do not need to take any action as a result of the transition to OTCID. The Company&#39;s shares will continue to be accessible through broker-dealers that facilitate OTC securities trading.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">About FiscalNote</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
FiscalNote (OTC:<a class="ticker" href="https://www.benzinga.com/quote/NOTE">NOTE</a>), the global leader in AI-driven policy intelligence, helps organizations track legislation, analyze regulation, and engage stakeholders through the PolicyNote suite, its flagship platform and APIs. Built to ensure the most complete, real-time view of the policy landscape, PolicyNote delivers synthesized, expert-driven analysis integrated with AI-powered monitoring, fueled by the trusted analysis and reporting of CQ and Roll Call, and the grassroots mobilization power of VoterVoice. From the Committee Room to the Board Room, FiscalNote's PolicyNote suite ensures every user has the unmatched clarity and speed needed to understand and impact policy.

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Forward-Looking Statements</b>

</p><p xmlns="http://www.w3.org/1999/xhtml">
Certain statements in this press release may be considered forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements generally relate to future events or FiscalNote's future financial or operating performance. In some cases, you can identify forward-looking statements by terminology such as "pro forma," "may," "should," "could," "might," "plan," "possible," "project," "strive," "budget," "forecast," "expect," "intend," "will," "estimate," "anticipate," "believe," "predict," "potential" or "continue," or the negatives of these terms or variations of them or similar terminology. Such forward-looking statements are subject to risks, uncertainties, and other important factors that could cause actual results to differ materially from those expressed or implied by such forward-looking statements. These and other important factors discussed in FiscalNote's SEC filings, including its most recent reports on Forms 10-K and 10- Q, particularly the &#34;Risk Factors&#34; sections of those reports, could cause actual results to differ materially from those indicated by the forward-looking statements made in this press release. These forward-looking statements are based upon estimates and assumptions that, while considered reasonable by FiscalNote and its management, are inherently uncertain. Nothing in this press release should be regarded as a representation by any person that the forward-looking statements set forth herein will be achieved or that any of the contemplated results of such forward-looking statements will be achieved. You should not place reliance on forward-looking statements, which speak only as of the date they are made. FiscalNote undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as may be required under applicable securities laws.

</p><p xmlns="http://www.w3.org/1999/xhtml"><img xmlns="http://www.w3.org/1999/xhtml" alt="" src="https://cts.businesswire.com/ct/CT?id=bwnews&amp;sty=20260406985875r1&amp;sid=benz2&amp;distro=nx&amp;lang=en" style="width:0;height:0"></img><span xmlns="http://www.w3.org/1999/xhtml" class="bwct31415"></span></p><p xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink"><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-phrase">View source version on businesswire.com: </span><span xmlns="http://www.w3.org/1999/xhtml" id="mmgallerylink-link"><a xmlns="http://www.w3.org/1999/xhtml" href="https://www.businesswire.com/news/home/20260406985875/en/" rel="nofollow">https://www.businesswire.com/news/home/20260406985875/en/</a></span></p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Media 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>Yojin Yoon
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:press@fiscalnote.com" shape="rect">press@fiscalnote.com</a>

</p><p xmlns="http://www.w3.org/1999/xhtml">
<b xmlns="http://www.w3.org/1999/xhtml">Investor Relations 
</b><br xmlns="http://www.w3.org/1999/xhtml"></br>Jon Slabaugh
<br xmlns="http://www.w3.org/1999/xhtml"></br><a xmlns="http://www.w3.org/1999/xhtml" rel="nofollow" href="mailto:ir@fiscalnote.com" shape="rect">ir@fiscalnote.com</a>

</p>

FiscalNote expects to achieve positive free cash flow in the next 12 months while it enhances AI-focused policy intelligence. The transition to the OTCID market aims to improve investor access, signaling growth potential and market interest in its new offerings.

FiscalNote Stock Begins Trading on OTCID Market as the Company Explores Uplisting Options

AI Summary

Sentiment Rationale

Trading Thesis

Market-Moving

Key Facts

Companies Mentioned

Corporate Developments

Related News