$NOTE
FiscalNote Holdings, Inc.

2022 Q3 Form 10-Q Financial Statement

#000110465922093355 Filed on August 22, 2022

View on sec.gov

Income Statement

Concept 2022 Q3 2022 Q2 2022 Q1
Revenue $29.07M $27.17M $0.00
YoY Change
Cost Of Revenue $5.867M $5.703M $5.347M
YoY Change 51.88% 78.89%
Gross Profit $23.20M $21.47M $20.72M
YoY Change 37.88% 44.32%
Gross Profit Margin 79.82% 79.01%
Selling, General & Admin $50.78M $23.77M $1.922M
YoY Change 4640.23% 1068.57% 667.58%
% of Gross Profit 218.82% 110.73% 9.27%
Research & Development $5.629M $3.791M $6.018M
YoY Change -12.5% -36.64% 14.52%
% of Gross Profit 24.26% 17.66% 29.04%
Depreciation & Amortization $311.0K $4.913M $4.717M
YoY Change 4.71% 29.56% 37.6%
% of Gross Profit 1.34% 22.88% 22.76%
Operating Expenses $73.20M $32.18M $1.922M
YoY Change 6733.5% 1481.89% 667.58%
Operating Profit -$44.13M -$2.107M -$1.922M
YoY Change 4019.52% 3.55% 667.59%
Interest Expense -$20.98M -$26.30M $9.135M
YoY Change -689.02% -759.22% 146.56%
% of Operating Profit
Other Income/Expense, Net -$928.0K -$765.0K $22.53K
YoY Change -41344.44% -13000.51% -50.51%
Pretax Income -$111.3M -$38.54M $7.236M
YoY Change -4562.93% -2064.65% 106.73%
Income Tax -$2.286M -$176.0K -$374.0K
% Of Pretax Income -5.17%
Net Earnings -$109.0M -$2.658M $7.236M
YoY Change -4471.26% -235.49% 106.73%
Net Earnings / Revenue -374.95% -9.78%
Basic Earnings Per Share -$1.39 -$2.57 -$1.06
Diluted Earnings Per Share -$1.63 -$295.7K $330.8K
COMMON SHARES
Basic Shares Outstanding 121.4M 19.02M 18.76M
Diluted Shares Outstanding 96.24M 19.02M 18.76M

Balance Sheet

Concept 2022 Q3 2022 Q2 2022 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $78.01M $27.16M $213.3K
YoY Change 78961.52% 115339.86% 44.25%
Cash & Equivalents $78.00M $14.69K $213.3K
Short-Term Investments
Other Short-Term Assets $3.265M $15.18M $353.4K
YoY Change 756.24% 2734.81% -48.92%
Inventory
Prepaid Expenses $5.285M $201.8K $353.4K
Receivables $12.49M $13.95M $14.82M
Other Receivables $0.00 $0.00 $0.00
Total Short-Term Assets $102.5M $216.5K $566.7K
YoY Change 21244.54% -61.27% -32.51%
LONG-TERM ASSETS
Property, Plant & Equipment $7.368M $29.94M $31.62M
YoY Change
Goodwill $192.5M
YoY Change
Intangibles
YoY Change
Long-Term Investments $175.1M
YoY Change 0.03%
Other Assets $395.0K $3.864M $3.814M
YoY Change
Total Long-Term Assets $347.9M $175.4M $175.1M
YoY Change 98.72% 0.16% 0.03%
TOTAL ASSETS
Total Short-Term Assets $102.5M $216.5K $566.7K
Total Long-Term Assets $347.9M $175.4M $175.1M
Total Assets $450.4M $175.6M $175.7M
YoY Change 156.53% -0.04% -0.13%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $11.20M $1.745M $1.811M
YoY Change 597.02% 3.63% 1711.53%
Accrued Expenses $7.940M $5.794M $3.973M
YoY Change 472.56% 1721.84% 2581.1%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change
Long-Term Debt Due $68.00K $18.07M $18.07M
YoY Change
Total Short-Term Liabilities $61.80M $7.843M $6.087M
YoY Change 1963.98% 291.75% 2352.57%
LONG-TERM LIABILITIES
Long-Term Debt $160.0M $372.2M $0.00
YoY Change
Other Long-Term Liabilities $1.806M $34.13M $16.68M
YoY Change -88.48% 77.43% -28.19%
Total Long-Term Liabilities $161.9M $406.3M $16.68M
YoY Change 932.72% 2012.29% -28.19%
TOTAL LIABILITIES
Total Short-Term Liabilities $61.80M $7.843M $6.087M
Total Long-Term Liabilities $161.9M $406.3M $16.68M
Total Liabilities $269.4M $25.31M $22.76M
YoY Change 1343.09% 19.17% -3.02%
SHAREHOLDERS EQUITY
Retained Earnings -$658.2M -$24.99M -$22.07M
YoY Change 3535.92% 21.34% -2.15%
Common Stock
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $181.0M -$24.99M -$22.07M
YoY Change
Total Liabilities & Shareholders Equity $450.4M $175.6M $175.7M
YoY Change 156.53% -0.04% -0.13%

Cashflow Statement

Concept 2022 Q3 2022 Q2 2022 Q1
OPERATING ACTIVITIES
Net Income -$109.0M -$2.658M $7.236M
YoY Change -4471.26% -235.49% 106.73%
Depreciation, Depletion And Amortization $311.0K $4.913M $4.717M
YoY Change 4.71% 29.56% 37.6%
Cash From Operating Activities -$39.15M -$8.145M -$404.9K
YoY Change -52211.01% 22449.83% 358.98%
INVESTING ACTIVITIES
Capital Expenditures -$2.818M -$3.913M -$2.128M
YoY Change 183.76% 75.72%
Acquisitions
YoY Change
Other Investing Activities $1.125M $0.00 $0.00
YoY Change -100.0% -100.0%
Cash From Investing Activities -$1.693M -$3.913M -$2.128M
YoY Change -82.94% -56.16%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 91.79M 34.00K 0.000
YoY Change -138.54% -100.0%
NET CHANGE
Cash From Operating Activities -39.15M -8.145M -404.9K
Cash From Investing Activities -1.693M -3.913M -2.128M
Cash From Financing Activities 91.79M 34.00K 0.000
Net Change In Cash 50.94M -12.02M -404.9K
YoY Change 67707.8% 9571.04% -373.81%
FREE CASH FLOW
Cash From Operating Activities -$39.15M -$8.145M -$404.9K
Capital Expenditures -$2.818M -$3.913M -$2.128M
Free Cash Flow -$36.33M -$4.232M $1.723M
YoY Change -415.14% 53.47%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-weight:bold;margin:0pt 0pt 12pt 0pt;"><span style="font-style:italic;">Use of Estimates</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:0pt;margin:0pt 0pt 12pt 0pt;">The preparation of the unaudited consolidated financial statements in conformity with GAAP requires the Company’s management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the condensed consolidated financial statements. Making estimates requires management to exercise significant judgment. It is at least reasonably possible that the estimate of the effect of a condition, situation or set of circumstances that existed at the date of the condensed consolidated financial statements, which management considered in formulating its estimate, could change in the near term due to one or more future confirming events. Accordingly, the actual results could differ significantly from those estimates.</p>
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1.15
dsac Class Of Warrant Or Right Adjustment Of Redemption Price Of Warrants Or Rights Percent Based On Market Value And Newly Issued Price1
ClassOfWarrantOrRightAdjustmentOfRedemptionPriceOfWarrantsOrRightsPercentBasedOnMarketValueAndNewlyIssuedPrice1
1
dsac Class Of Warrant Or Right Adjustment Of Redemption Price Of Warrants Or Rights Percent Based On Market Value And Newly Issued Price2
ClassOfWarrantOrRightAdjustmentOfRedemptionPriceOfWarrantsOrRightsPercentBasedOnMarketValueAndNewlyIssuedPrice2
1.80
dsac Common Stock Trading Days On Which Fair Market Value Of Shares Is Reported
CommonStockTradingDaysOnWhichFairMarketValueOfSharesIsReported
10
dsac Multiplier Used In Calculating Warrant Exercise Price
MultiplierUsedInCalculatingWarrantExercisePrice
0.361
CY2022Q2 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
175360788
CY2022Q2 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
11340000
CY2021Q4 us-gaap Assets Fair Value Disclosure
AssetsFairValueDisclosure
175101805
CY2021Q4 us-gaap Shares Subject To Mandatory Redemption Settlement Terms Fair Value Of Shares
SharesSubjectToMandatoryRedemptionSettlementTermsFairValueOfShares
19687500

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