FiscalNote Holdings (NOTE) Cost of Revenue (2021 - 2026)
FiscalNote Holdings (NOTE) recorded Cost of Revenue of $3.98 million in Q2 2026, down 19.6% from $4.95 million a year earlier and down 4.3% from the prior quarter.
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Analysis
FiscalNote Holdings (NOTE) Cost of Revenue (2021 - 2026) Analysis & Trends
On a TTM basis, FiscalNote Holdings' Cost of Revenue came in at $17.39 million as of Jun 30, 2026, down 25.9% year-over-year; for FY2025, it came in at $21.2 million, down 17.3% from FY2024.
- Annual Cost of Revenue has a four-year compound annual growth rate of -0.7% (FY2021 to FY2025).
- Across earlier years, Cost of Revenue came in at $25.64 million in FY2024 (-36.3%), $40.25 million in FY2023 (+26.0%), $31.94 million in FY2022 (+46.5%) and $21.8 million in FY2021.
- The Q2 2026 figure is the lowest quarterly Cost of Revenue in data going back to Q3 2021.
- On a year-over-year basis, Cost of Revenue has declined for ten consecutive quarters, with an average decline of 28.0% over the last eight quarters.
- Peak year-over-year performance for Cost of Revenue in the last five years was growth of 60.7% in Q3 2022, against a decline of 53.5% in Q4 2024 at the low end.
- Per Business Quant, the preceding three quarters came in at $4.15 million (Q1 2026), $4.49 million (Q4 2025) and $4.77 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Palantir Technologies | 453.55 Bn | 422.61 Bn | 1.64 Bn | 296.87 Mn |
| 2 | Oracle | 430.98 Bn | 303.54 Bn | - | - |
| 3 | Sap Se | 256.23 Bn | 177.31 Bn | 8.40 Bn | 3.08 Bn |
| 4 | Salesforce | 193.08 Bn | 148.96 Bn | 8.70 Bn | 2.65 Bn |
| 5 | ServiceNow | 138.94 Bn | 117.40 Bn | 2.82 Bn | 1.17 Bn |
| 6 | Automatic Data Processing | 102.51 Bn | 84.63 Bn | 2.51 Bn | 2.96 Bn |
| 7 | Intuit | 75.44 Bn | 54.79 Bn | 3.44 Bn | 910.00 Mn |
| 8 | Relx | 60.79 Bn | 57.76 Bn | - | - |
| 9 | Strategy | 56.32 Bn | 49.31 Bn | 81.55 Mn | 40.82 Mn |
| 10 | FiscalNote Holdings | 844,272.34 | -19.74 Mn | 15.61 Mn | 3.98 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 3.98 Mn |
| Mar 31, 2026 | 4.15 Mn |
| Dec 31, 2025 | 4.49 Mn |
| Sep 30, 2025 | 4.77 Mn |
| Jun 30, 2025 | 4.95 Mn |
| Mar 31, 2025 | 6.98 Mn |
| Dec 31, 2024 | 5.30 Mn |
| Sep 30, 2024 | 6.24 Mn |
| Jun 30, 2024 | 6.86 Mn |
| Mar 31, 2024 | 7.24 Mn |
| Dec 31, 2023 | 11.39 Mn |
| Sep 30, 2023 | 10.44 Mn |
| Jun 30, 2023 | 9.49 Mn |
| Mar 31, 2023 | 8.94 Mn |
| Dec 31, 2022 | 8.36 Mn |
| Sep 30, 2022 | 8.70 Mn |
| Jun 30, 2022 | 7.71 Mn |
| Mar 31, 2022 | 7.17 Mn |
| Dec 31, 2021 | 7.14 Mn |
| Sep 30, 2021 | 5.41 Mn |
API Access
FiscalNote Holdings Cost of Revenue API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=NOTE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "cost-of-revenue", "ticker": "NOTE", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=cost-of-revenue&ticker=NOTE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();