NOTE Stock Surged Over 5% Intraday Despite Negative EPS

On June 9, 2023, NOTE stock jumped more than 5%; the stock opened trading at $2.66; it lowest traded around $2.58, highest traded at $2.82, and closed at $2.81. The price movement in Weekly, Monthly, and Quarterly is profitable, but in half-yearly, YTD, and Yearly sessions, it slipped over 56%, 71%, and 56.12% respectively.

Similarly, on June 8, NOTE stock surged over 10.70% and closed trading at $2.67. The daily trading volume in the same sessions was 2.002 million, with many buyers rather than sellers.

The surging price of NOTE Stock creates an opportunity for its holders to book more profit than the sellers. In weekly trading sessions, stock prices gain 27.73%; in monthly trading sessions, the price mirrors the growth of 65.29%.

Revenue and Earnings of FiscalNote Holdings Inc

In Q1 2023, FiscalNote reported 0.50% more revenue than the estimated figures, and in the last quarter of 2022, it also reported more revenue. It is important to note that in Q2 and Q3 of 2022, the company’s revenue decreased by over 4.23% and 10.34% simultaneously.

From Q2 2022 till Q1 2023, company earnings per share (EPS) are negative as per the recent reports. EPS of Q1 slipped over 16.67%. More than 76% of FiscalNote shares are free-floating, and 23.24% of shares are closely held.

A significant portion of revenue is generated from the subscription model, followed by Advisory, Advertising, Books, and others. North America, Europe, Asia, and Australia are the major regions where the company operates its business.

The annual revenue structure of the company reflects a negative net income of the company by 192%. FiscalNote might be a loss-making company, but its stock movement shows that it will soon bypass the leading giants in the industry in terms of revenue and net income.

In 2022 Fiscal’s total revenue was $115.66 Million, which is comparatively higher than the estimated figures.

Data from Crunchbase states that FiscalNote secured $625.5 Million in 18 different funding rounds. Mark Cuban, Steve Case, New Enterprise Associates, Maso Capital Partners, Green Visor Capital, Jerry Yang, S & P Global, Winklevoss Capital, and 8090 Capital are its lead investors.

It has acquired over 15 companies, including DragonFly, DT-Global Business Consulting, Frontier Strategy Group, Curate, Predata, Equilibrium World, Board.org, Fireside21, and TimeBase.

FiscalNote didn’t reveal the acquisition amount, and all the companies were acquired at undisclosed amounts. FiscalNote Holdings Inc is a software, data, and media company founded by Tim Hwang, Greald Yao, and Jonathan Chen in 2013 in California, United States.

Disclaimer

The views and opinions stated by the author, or any people named in this article, are for informational ideas only and do not establish financial, investment, or other advice. Investing in or trading crypto assets comes with a risk of financial loss.

Andrew is a blockchain developer who developed his interest in cryptocurrencies while his post-graduation. He is a keen observer of details and shares his passion for writing along with being a developer. His backend knowledge about blockchain helps him give a unique perspective to his writing