FiscalNote Holdings (NOTE) Research & Development (2021 - 2026)
FiscalNote Holdings' Research & Development was $1.58 million in Q2 2026, down 30.3% from $2.27 million a year earlier and down 22.6% from the prior quarter.
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Analysis
FiscalNote Holdings (NOTE) Research & Development (2021 - 2026) Analysis & Trends
On a trailing twelve-month basis, FiscalNote Holdings' Research & Development was $7.82 million through Jun 30, 2026, down 32.1% year-over-year; for FY2025, it was $9.57 million, down 25.4% from FY2024.
- Research & Development has now declined for four consecutive years, with a four-year compound annual growth rate of -20.5% (FY2021 to FY2025).
- In earlier years, Research & Development was $12.83 million in FY2024 (-29.5%), $18.19 million in FY2023 (-12.3%), $20.74 million in FY2022 (-13.7%) and $24.02 million in FY2021.
- The Q2 2026 figure marks the lowest quarterly Research & Development in data going back to Q3 2021.
- Compared with a year earlier, Research & Development has declined for 12 straight quarters, with an average decline of 28.0% over the last eight quarters.
- The best year-over-year quarter for Research & Development over five years was Q2 2023 (growth of 19.0%); the worst was Q3 2025 (a decline of 36.0%).
- Per Business Quant data, NOTE's Research & Development in the three quarters before Q2 2026 was $2.04 million (Q1 2026), $2.12 million (Q4 2025) and $2.08 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | R&D (Qtr) |
|---|---|---|---|---|---|
| 1 | Palantir Technologies | 450.50 Bn | 419.56 Bn | 1.64 Bn | 192.51 Mn |
| 2 | Oracle | 401.01 Bn | 273.57 Bn | - | 2.40 Bn |
| 3 | Sap Se | 257.03 Bn | 178.11 Bn | 8.40 Bn | -2.14 Bn |
| 4 | Salesforce | 187.04 Bn | 142.92 Bn | 8.70 Bn | 1.69 Bn |
| 5 | ServiceNow | 135.91 Bn | 114.37 Bn | 2.82 Bn | 915.00 Mn |
| 6 | Automatic Data Processing | 104.14 Bn | 86.27 Bn | 2.51 Bn | 265.90 Mn |
| 7 | Intuit | 72.30 Bn | 51.65 Bn | 3.44 Bn | 857.00 Mn |
| 8 | Relx | 60.17 Bn | 57.14 Bn | - | - |
| 9 | Strategy | 55.31 Bn | 48.30 Bn | 81.55 Mn | 23.10 Mn |
| 10 | FiscalNote Holdings | 844,272.34 | -19.74 Mn | 15.61 Mn | 1.58 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 1.58 Mn |
| Mar 31, 2026 | 2.04 Mn |
| Dec 31, 2025 | 2.12 Mn |
| Sep 30, 2025 | 2.08 Mn |
| Jun 30, 2025 | 2.27 Mn |
| Mar 31, 2025 | 3.10 Mn |
| Dec 31, 2024 | 2.89 Mn |
| Sep 30, 2024 | 3.25 Mn |
| Jun 30, 2024 | 3.21 Mn |
| Mar 31, 2024 | 3.48 Mn |
| Dec 31, 2023 | 4.02 Mn |
| Sep 30, 2023 | 4.54 Mn |
| Jun 30, 2023 | 4.51 Mn |
| Mar 31, 2023 | 5.12 Mn |
| Dec 31, 2022 | 5.30 Mn |
| Sep 30, 2022 | 5.63 Mn |
| Jun 30, 2022 | 3.79 Mn |
| Mar 31, 2022 | 6.02 Mn |
| Dec 31, 2021 | 6.35 Mn |
| Sep 30, 2021 | 6.43 Mn |
API Access
FiscalNote Holdings Research & Development 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=research-and-development&ticker=NOTE&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "research-and-development", "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=research-and-development&ticker=NOTE&period=max&api_key=YOUR_API_KEY");
const data = await res.json();