Estados financieros detallados de FiscalNote Holdings, Inc. (NOTE): cuenta de resultados, balance general y flujo de caja. Sigue la evolución de márgenes, deuda, liquidez y rentabilidad año a año con hasta 20 años de histórico.
Resumen del Análisis
FiscalNote Holdings, Inc. registró ingresos de $95.4M en el último ejercicio fiscal, con un CAGR de 5 años del 7.9%.
Márgenes de los últimos 12 meses: margen bruto 64.7%, margen operativo -31.6%, margen neto -141.5%.
Al precio actual de $0.04, NOTE presenta beneficios negativos (P/E no significativo) y un ROE del -293.32%. La capitalización bursátil es de $1M.
Cuenta de Resultados (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Ingresos | $65.9M | $65.2M | $82.9M | $113.8M | $132.6M | $120.3M | $95.4M |
| Coste de Ventas | $13.2M | $26.9M | $36.4M | $47.9M | $58.1M | $44.2M | $30.3M |
| Beneficio Bruto | $52.7M | $38.2M | $46.5M | $65.9M | $74.5M | $76.1M | $65.1M |
| I+D | $14.8M | $15.1M | $24.0M | $20.7M | $18.2M | $12.8M | $9.6M |
| Generales y Administrativos | $59.7M | $42.3M | $64.0M | $120.5M | $111.3M | $85.3M | $78.8M |
| Gastos Operativos | $81.8M | $67.2M | $102.1M | $154.1M | $172.3M | $108.0M | $92.2M |
| Beneficio Operativo | -$29.1M | -$29.0M | -$55.6M | -$88.2M | -$97.7M | -$31.9M | -$27.1M |
| EBITDA | -$17.6M | -$9.3M | -$36.1M | -$105.0M | -$56.6M | $53.5M | -$9.1M |
| Gastos por Intereses | $22.9M | $31.8M | $64.8M | $95.7M | $29.9M | $23.6M | $16.5M |
| Beneficio Antes de Impuestos | -$52.1M | -$52.7M | -$117.3M | -$221.5M | -$115.2M | $10.1M | -$66.5M |
| Impuestos | -$18.8M | -$1.4M | -$7.9M | -$3.3M | $223000 | $536000 | -$1.2M |
| Beneficio Neto | -$33.3M | -$51.3M | -$109.4M | -$218.3M | -$115.5M | $9.5M | -$65.2M |
| BPA | $-3.12 | $-4.99 | $-237.57 | $-44.17 | $-10.54 | $0.83 | $-4.65 |
| BPA Diluido | $-3.12 | $-4.99 | $-237.57 | $-44.17 | $-10.54 | $0.83 | $-4.65 |
| Acciones en Circulación (Diluidas) | $10.8M | $1.8M | $1.3M | $5.5M | $11.0M | $11.4M | $14.0M |
Cuenta de Resultados (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Ingresos | $22.4M | $22.2M | $20.0M | $19.6M |
| Beneficio Bruto | $17.7M | $9.6M | $13.7M | $13.5M |
| Beneficio Operativo | -$9.7M | -$6.2M | -$6.1M | -$4.6M |
| EBITDA | -$17.4M | -$2.9M | -$2.4M | -$844000 |
| Beneficio Neto | -$24.9M | -$22.9M | -$43.6M | -$27.8M |
| BPA | $-1.73 | $-1.45 | $-2.39 | $-1.06 |
| BPA Diluido | $-1.73 | $-1.45 | $-2.39 | $-1.06 |
Balance (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Caja y Equivalentes | $6.3M | $44.2M | $32.2M | $60.4M | $16.5M | $28.8M | $24.3M |
| Inversiones a Corto | 0 | 0 | 0 | 0 | $7.1M | $5.8M | $2.0M |
| Cuentas por Cobrar | $9.9M | $6.4M | $11.2M | $14.9M | $18.1M | $13.5M | $14.3M |
| Inventario | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Activos Corrientes | $19.8M | $56.3M | $54.3M | $86.0M | $49.8M | $57.2M | $45.5M |
| Inmovilizado Material | $8.7M | $8.1M | $7.5M | $28.3M | $23.9M | $20.7M | $17.8M |
| Fondo de Comercio | $120.6M | $120.7M | $188.8M | $194.4M | $187.7M | $159.1M | $123.0M |
| Activos Intangibles | $93.9M | $93.2M | $125.2M | $120.0M | $104.2M | $86.0M | $65.5M |
| Activos Totales | $243.1M | $280.1M | $378.5M | $433.2M | $370.6M | $326.2M | $255.1M |
| Cuentas por Pagar | $4.1M | $2.9M | $15.8M | $13.7M | $12.9M | $8.5M | $7.3M |
| Deuda a Corto | $15.4M | $3.3M | $13.6M | $68000 | $105000 | $36000 | $2.8M |
| Pasivos Corrientes | $46.5M | $35.1M | $69.5M | $62.1M | $65.7M | $51.3M | $44.4M |
| Deuda a Largo | $155.4M | $212.0M | $317.6M | $162.0M | $222.3M | $147.0M | $125.6M |
| Pasivos Totales | $225.5M | $272.4M | $411.3M | $288.5M | $327.1M | $228.4M | $193.2M |
| Reservas | -$189.2M | -$237.0M | -$481.4M | -$700.7M | -$816.4M | -$806.9M | -$872.1M |
| Patrimonio Neto | $17.6M | $7.7M | -$32.8M | $144.7M | $43.5M | $97.8M | $62.0M |
| Deuda Total | $170.8M | $215.2M | $333.3M | $197.9M | $251.6M | $173.0M | $151.1M |
| Deuda Neta | $164.5M | $171.0M | $301.1M | $137.5M | $228.1M | $138.3M | $124.8M |
| Capital Circulante | -$26.7M | $21.1M | -$15.2M | $23.9M | -$15.8M | $5.9M | $1.1M |
Balance (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Caja y Equivalentes | $26.7M | $25.0M | $23.8M | $18.6M |
| Activos Totales | $273.9M | $255.1M | $213.4M | $182.2M |
| Pasivos Totales | $198.4M | $193.2M | $188.6M | $182.0M |
| Patrimonio Neto | $75.5M | $62.0M | $24.8M | $274000 |
| Deuda Total | $154.9M | $151.1M | $145.0M | $140.2M |
Flujo de Caja (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Beneficio Neto | -$33.3M | -$51.3M | -$109.4M | -$218.3M | -$115.5M | $9.5M | -$65.2M |
| Amortizaciones | $11.5M | $11.5M | $16.4M | $11.7M | $28.7M | $19.9M | $18.0M |
| Compensación en Acciones | $537000 | $1.0M | $1.0M | $38.0M | $27.1M | $17.9M | $14.8M |
| Cambio en Capital Circulante | $7.1M | $3.2M | -$848000 | -$17.1M | -$10.2M | -$3.9M | -$4.6M |
| Flujo de Caja Operativo | -$16.9M | -$17.2M | -$37.0M | -$72.6M | -$35.5M | -$5.3M | -$11.4M |
| Inversiones (CapEx) | -$3.0M | -$5.5M | -$5.6M | -$11.4M | -$7.9M | -$8.9M | -$7.2M |
| Adquisiciones | -$154000 | 0 | -$43.6M | $1.1M | -$5.0M | $98.1M | $46.9M |
| Recompra de Acciones | 0 | 0 | 0 | -$88000 | 0 | 0 | 0 |
| Dividendos Pagados | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Flujo de Caja Libre | -$19.9M | -$22.7M | -$42.6M | -$84.0M | -$43.4M | -$14.2M | -$18.6M |
Flujo de Caja (Trimestral)
| Año | 2025-Q3 | 2025-Q4 | 2026-Q1 | 2026-Q2 |
|---|
| Flujo de Caja Operativo | -$8.3M | -$332903 | $3.0M | $892.0M |
| Inversiones (CapEx) | -$2.1M | -$1.7M | -$1.7M | -$3.32B |
| Flujo de Caja Libre | -$10.4M | -$2.0M | $1.4M | -$2.43B |
| Dividendos Pagados | 0 | 0 | 0 | 0 |
| Compensación en Acciones | $3.6M | $14.77B | $3.0M | $3.87B |
Crecimiento y Márgenes (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| Crecimiento Ingresos (anual) | | -1.1% | +27.2% | +37.2% | +16.6% | -9.3% | -20.7% |
| Crecimiento Beneficio Neto (anual) | | -54.1% | -113.4% | -99.5% | +47.1% | +108.2% | -785.6% |
| Crecimiento BPA (anual) | | -59.9% | -4660.9% | +81.4% | +76.1% | +107.9% | -660.2% |
| Cambio en Acciones (anual) | | -83.1% | -29.1% | +329.0% | +97.6% | +4.5% | +22.6% |
| Crecimiento FCF (anual) | | -13.9% | -88.1% | -97.1% | +48.3% | +67.3% | -31.5% |
| Margen Bruto | 80.0% | 58.7% | 56.1% | 57.9% | 56.2% | 63.3% | 68.2% |
| Margen Operativo | -44.2% | -44.5% | -67.0% | -77.5% | -73.7% | -26.6% | -28.4% |
| Margen EBITDA | -26.8% | -14.3% | -43.6% | -92.3% | -42.7% | 44.5% | -9.6% |
| Margen Neto | -50.5% | -78.7% | -132.0% | -191.8% | -87.0% | 7.9% | -68.4% |
| Margen FCF | -30.2% | -34.8% | -51.4% | -73.8% | -32.7% | -11.8% | -19.5% |
| Tasa Impositiva Efectiva | 36.1% | 2.7% | 6.7% | 1.5% | -0.2% | 5.3% | 1.9% |
Datos por Acción (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| FCF por Acción | $-1.85 | $-12.43 | $-32.98 | $-15.15 | $-3.97 | $-1.24 | $-1.33 |
| Dividendo por Acción | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 | $0.00 |
| Acciones en Circulación (Básicas) | $10.8M | $1.8M | $1.3M | $5.5M | $11.0M | $11.4M | $14.0M |
Qué mirar en empresas de Technology
- Crecimiento de ingresos 3a (≥15%/año) — Valida tracción sostenida, no un año puntual.
- Margen bruto (Depende del sub-sector) — SaaS ≥70%, Internet ≥55%, Semis ≥45%, Hardware ≥35%.
- FCF / Ingresos (≥20%) — Caja real generada. Muchas tech maquillan beneficios non-GAAP.
- ROIC (≥15%) — Eficiencia del capital reinvertido — la primera métrica de Buffett.
- SBC / Ingresos (<10% saludable) — Stock-based compensation. Dilución silenciosa: >20% destruye valor.
- Deuda Neta / EBITDA (≤2x (1,5x SaaS)) — Resistencia en recesiones y subidas de tipos.
Rentabilidad
| Rentabilidad sobre capital | -293.32% |
| Rentabilidad sobre capital invertido | -18.39% |
| Rentabilidad sobre activos | -65.39% |
| Margen bruto | 64.72% |
| Margen operativo | -31.65% |
| Margen neto | -141.47% |
Salud financiera
| Deuda / Patrimonio | 511.66 |
| Ratio corriente | 0.22 |
| Piotroski F-Score | 2 |
| Altman Z-Score | -4.69 |
Ratios Clave (10 años)
| Año | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|
| P/E | -38.16 | -23.95 | -0.50 | -1.72 | -1.30 | 15.47 | -0.32 |
| P/VC | 72.69 | 28.17 | -4.68 | 2.91 | 3.45 | 1.50 | 0.33 |
| P/V | 19.47 | 3.34 | 1.85 | 3.70 | 1.13 | 1.22 | 0.22 |
| Margen Bruto | 80.0% | 58.7% | 56.1% | 57.9% | 56.2% | 63.3% | 68.2% |
| Margen Operativo | -44.2% | -44.5% | -67.0% | -77.5% | -73.7% | -26.6% | -28.4% |
| Margen Neto | -50.5% | -78.7% | -132.0% | -191.8% | -87.0% | 7.9% | -68.4% |