Thank today's we our call, will quarter. first On you, review Sara.
always, business profitability positive EBITDA quickly growth As compounder. also as I'll to long-term approximately more. durable discuss we our as adjusted CFO, pathway about gross Jon QX breakeven QX Slabaugh, as the on details revenue, new asymmetric turn pivot and our innovate to we and profitable then talk EBITDA to our financials and talk of over the for long-term about upside and our adjusted opportunities I'll it continue driving in trends around I'll margin, macro segments. strong products our our compounding customer in
our on to the proprietary brief macroeconomic those SaaS the start organizes who and me of of what analyze political constantly are story. to by that on and FiscalNote, let begin, regulatory, we're and organization. in new At we help we mission overview information a do AI-enabled I a aggregates customers their platform sense delivering live impact world and with complicated changing very for we a and make the Before
Changes organization on from and requirements in mandatory impact global and must in often with to decision-making basis. the aggregate, world, to regulatory the reporting the synthesize Using and subscription and customers learning almost macroeconomic requirements every policies, comply changes a a capabilities, laws that legislative amounts and regulations of and around AI policy, organizations machine in of cutting-edge provide mass we data intelligence around actionable analyze model. information world regulatory
-- public the hundreds an sector XXX half Defense, As customers, the and the company top of for countries decision-makers of need world's stay customers U.S. range Fortune Congress, in on Senate major such, member influential geopolitical agencies in the building organizations to from and government around in important every of Reserve White sector House, we're landscape to world. including regulatory, Department these enduring the corporate and public the of an and Asia of ever-shifting the most and House Europe and Federal that from political customers
legislation and policies, These shifts of day macroeconomic the on customers every their help FiscalNote interpret on to rely impact institutions.
and business commercial the navigate customers organizations economic process discover making more on impact durable result, forms basis of achieve a analysis our policy and and This and in the their thousands take growth. objectives of platforms minimize depend to risk. the importantly, and global SaaS long-term of FiscalNote's and which sectors actions As government on public and political
the FiscalNote their direct continues information has mission-critical impact our operations. and have and field, Avalara global The increasingly an Terminal federal become same local, information companies, such that political, level. IHS and respective in have state, of S&P a customers' Markit, at on information Global, CoStar as deliver FactSet, to Bloomberg way regulatory ubiquitous We other and mission-critical legislative MorningStar, information innovated that
an around invested respond. of the dollars intelligence information help and well and a political and the world AI sense of as combination collect, unstructured We've our dispensable legal of as to software of regulatory, years and synthesize pace millions technology tools make building to data, almost and exploding XX of volume tens dynamic customers
that, With highly our million, of in call. another guidance with the marking our of profitable of We revenue results we was XX% our $XX.X QX XXXX start predictable line year-over-year and me in growth last with let a that as clocked platform provided a yet serves financial beyond. for summary revenue growth. quarter on compounding growth and compounding
customers thousands their As of continue a diverse customers we predictable year secure from state renew of to we've year, demonstrated, have a that from after new we recurring as contracts revenue customer stream organizations well base highly on and business rely take the macroeconomic governments more help to their of and policies, every their These institutions XXX on impact objectives. day interpret and to shifts actions achieve to FiscalNote enterprises. Fortune which importantly, legislation
were XX% hallmark of basis in a future. from are also for high the AI and These adjusted quarter. in form QX strong and deliver We all margin. continue business at products, the to the margins data-rich gross consistently which stem our gross SaaS margins flow model, profit FiscalNote pedigree cash
will a On EBITDA million. growth and loss breakeven focus details. approximately starting EBITDA diligent our plan Jon combination to our on reiterating of notably through an are our profitable in of basis. on was the adjusted we loss, EBITDA line, line $X be approximately in expectations reduce QX and And as bottom real detail, and a ongoing walk QX a in the you QX with adjusted adjusted to cost, through ARR in
additional we conditions. was capacity subject position $XX.X to cash and have of debt the Our at the of quarter an $XX million end million,
are plan time, fund as capital free and additional growth. profitability We capitalized fully require to not our and flow. EBITDA our any And to do we've capital over cash to sufficient adjusted stated, raises achieve have continue we of
KPIs. We revenue late run Dragonfly. managing $XXX of including our of January to rate million, Turning delivered acquisition
Excluding at was Dragonfly's, organic $XXX run million. rate revenue
growth is line Dragonfly. our with XX% forma marking we $XXX and to ramp through Our expectations, year-over-year to as it continue pro usually and expect year organic excluding an does. million, on of annual in recurring This ARR the X% revenue basis, was
changes benefits of are the half operational been from improvements seeing expect we and Also, we we see growth. implementing, second those accelerating and organizational our internally, reflected benefits in to have
For approximately the of first noncore legacy retention part a was XX% in revenue quarter, and the NRR the expiration XX%, prior adjusted licensing adjusting the that of relationship net of anticipated acquisition. was for quarter, inherited as was impact the content
must On Overall, a trailing deliver strong; revenue successful a net reflection retention revenue for and the XX-month our mission-critical XX%. solutions cross-sell of retention our was we and strong net upsell have customers. model, remained our basis,
revenue for marking million, $XXX XX% growth million to year-over-year. GAAP of to guidance We reiterated our $XXX of XXXX XX% with
to also remains to We you on for the $XXX revenue year. track. of run rate expect as our $XXX path And mentioned, million profitability million
continued gross driven guidance our revenue predictable margin compounding revenue and performance Our and by high revenue, profile. growth, strong are recurring retention high
our cash these continue to reiterate flow EBITDA for future. in into in fundamentals, of the it result adjusted a we profitability As and guidance QX, translate positive free will
on Now the growth. a of serve let touch macro as that trends backstop some me for our
to that is are of introduced House more in XXXX of consumer impact at and operate and market greatly U.S. rules and legislation that a government creating pace. on regulatory of market, consistently city by complexity legislative vary Each industry a myriad a them. of bodies regulatory U.S. businesses In regulations than agencies of legislative health well acted labor and the to the track in has increase of XX,XXX by pass operational issues and regulation compliance that continues to sell care combined as these their legislate, session, bodies thousands environment single and Our organizations state supplemented to act tens access the and for unprecedented across every who State the an employment regulations. state from and to from country myriad and the who those funding XX,XXX as city, alone, privacy driven bills data to regulation. events across The political
level, a all-time high. and also On an policymaking global regulation is at
change New such that regulations. region EU adopts as extend particularly transition spreads often Moreover, these and new global, new when assets, the how that XXXX Act semiconductors to in Data globally, issues economy, to creating with from variation local and XX% around the large implement since and each legislation energy regulations alone. crypto climate EU to have the acts significant complexity regulatory China legislative quickly from increased
military risk as operate a recent all impact civil companies globally. is PwC the This against world in billion underpinning issues regulations, alone, customers. Regulatory tied years. enforcement which half biggest caused disruptions spur the have uncertainty closely our losses the of reported and is may around have and bottom our a organizations in corporations more chain global politicians billion $XX than as regulation industry XX This the penalties for profitability impact will conflicts to geopolitical, such actions, In in and over and survey and a that business. trillion on of of is having single in that year in the creates lost faced in significant suffered operational year. for revenues $X macroeconomic CEOs, with direct respond next top SEC from and sanctions significant line risk line new turn unrest to in in from changes supply backstop $X.X on Russia CEOs impact Last
normalize, day the structure, we for issues. face and to organizations FiscalNote, and assessing actionable [indiscernible] and found legal, FiscalNote, data geopolitical geopolitical analyze that to tremendous and customers. useful the taking saw and manual, process action AI macroeconomic inefficient and make embed expensive tracking, Without use regulations digitize to opportunity our complex, workflows information the a a software on From underserved we regulatory, and for
a now global of and AI is of believe unparalleled depth large We remains the our market We data market. in this the breadth that that opportunity. have
than actions, protect better to innovates a As insights mitigate to risk challenges build and turn . which than convert constantly now anyone to ever is result, FiscalNote into better a to category into creator, positioned opportunities
our the customers our empowers us matter larger be for business. forefront that the of one of As issues to most multinational at stated, enterprise FiscalNote
source Another client current at a chaotic of time pointing referred truth misinformation. and to as FiscalNote constant environment critical of a the as to regulatory
our the let the and context, the on business capital long term. the return upside allocating Every greatest the the that with areas asymmetric in highest and for underpinnings briefly team opportunities about With focus me of day, model talk upside. potential of our growth our to
we terms leaders, growth. both of As revolutionary evolutionary in and growth think
continue customers we by vectors. growth. supplemented our model for So to previous products those quarter, we've reflects to start seen. year, tuck-in customers deep customer We the and the and as cross-sell deliver simple. that after our revenue high Quarter customers evolutionary The capabilities a each let take them facilitate customers our opportunities strength accretive among grow growth business, upsell and the organic This and relationships with acquisition year. our is from simultaneously upsell revenue strong that across me our business durability recurring The level of drives of products while predictability new our adding with you've model new of renew built.
the gross EBITDA our ongoing margin our leading Further, OpEx because management, flow to of QX in on and cash focus cost thereafter. also drives adjusted model free significant and adjusted operating XX% leverage, soon profile profitability
the similar north of XX%. expect cash in scale, free cash we information which flow drive sector-specific typically at other flow ahead to average, Looking leaders to deliver margin on well model and services, margins
maintain revenue by of to So disciplined evolutionary business rate, annuity-like our high EBITDA. and positive continuing organic expand foundational business base gross we incrementally adjusted will to a of single growth a recurring and our our revenue the maintaining Every strong. and at renew strategy margin base adding continue margins is profile to quarter, very to high customers clockwise our
In I market. revenue on mentioned of the planet. as comes most as in additional previous the calls, only growth And this stands regulated heavily European the yet XX% opportunities, of market markets from of terms one
the We large-scale a at our believe can expansion, to stages North just are that information beginning size current our services our we the products business similar business can with American today. rival and of other I leaders, European of that build
is approximately Census Another market from everything are and relationship policymakers et about taxes, to their XX,XXX the market. these U.S. relationships incremental governments cetera. I display funding, need of state their Bureau, constituencies. Each state we zoning, to jurisdictions the to U.S. decisions with own local believe alone. segment the to and strong as well According the that understand in there education property government make growth maintain as local federal
to Office deal Georgia Board announced and an do members a Senate, as legislature Commissioners of with quarter, This the in Governor Dekalb that. the State we major the of Lieutenant County just of example,
state We believe opportunities are every in there the country. in like this
a that upside. our management incubated Now clock team cultivating opportunities growth to take compounding and me on we like let and outperformance touch are These growth near at drive revolutionary fundamental opportunities long deliver any term. business asymmetric been accelerate beyond that have as moment, term and our us could
leveraging of partnerships One us is development larger and more focus broader for and product area for development. efficient customer
embedding are as with we recognition for our regulatory, solutions. the defense, Peraton, and data we to and and and sectors mutual AI Peraton's a in that partnership in solutions gain operational trusted As people intelligence, and with leader large-scale security bring geopolitical this government you've managing secure. By Earlier integrating national for solutions risk. customers need a announced security, national seen, who starting the integrator large preeminent to technologies, year, safe security state data AI value health and keep we
to contractors, that other been group. our large-scale growth government contracts FiscalNote time. own be organizations under see secure to such strategic long-term Peraton large defense opportunities partnerships and transformative and for can Through agencies government have initiatives Federal long customers very we multiyear a as our
is in ChatGPT provide the AI to and partnerships platform. as provider data inaugural FiscalNote integrations well. and content data to AI of leading leadership of political select with partners users March, and In trusted for to collaborate OpenAI XX OpenAI's information and other research one and regulatory Our a legal, selected as of full
leadership Just fiscal their for ago, marketplace, also AI leaders X,XXX than to market. demonstrate about X as is in leader to These data selected information new which of data and other more And clear at collaborations customers. additional sector new are analytics importance data geopolitical our provide industry and AI out regulatory weeks and reaching Databricks are us by a FiscalNote's our accessed partnerships and testament to the well.
in compelling to of on new direct have and We impact that also Other organically innovation is pure upside areas opportunities investment our catalyst AI. extend of driven new for timely is, which our overarching product development, our customers. our an see to course, by risk decade-long
and with advantage products human defensible an result new market a in leverage data, and when our AI cost. launch innovation new intelligence that more hold, products and we of to time record efficient combination to to that core the continue ChatGPT in advancements GPTX, will us at enables AI, combined We product as incredibly should in competitive time here. such low create and faster unique that
example, that in that legal, political, and the an chains, security types As are operational many risks enterprises in nature businesses largest are increasingly issues by concerned today. we supply impacted of and risks their world's of the about track and regulatory
as future and areas tremendous significant positioned Stay us more growth. uniquely information operations. one this to our push new customers just types are solutions new provide understand, to for in opportunities directly that and biggest deepen driven in to that our of provides predict, many our of regulatory soon. into for of opportunities empower have and deep is their We This of and because development broaden that market internally our bring quantify that lines long-standing customer allow impact their to product relationships, innovative as expansion data address AI that businesses area most new growth FiscalNote revenue pressing concerns for well of tuned other risks leadership sets on
a finally, catalyst incremental as for And growth M&A well. remains
value continue M&A their cross-sell add incremental majority that among base acquisitions for pursue catalyze of We growth the success their customers. selective customers. scale targets we with great strong to solutions, as We've and of our had our facilitate our
our of operational customers the risk January look generating they at operate in. Dragonfly Our is markets opportunities in and acquisition already as security
and offerings, selective for remain are value new the innovating we but of In to growth. opportunities we new leaders, for product can outsized we around our this every lines as opportunistic sum, and when thousands continue environment, expand see acquisition so customer target we new constantly day. in segments, deliver customers we we be In clear structure,
future subscription strong We footprint product for our generation. continue a our beyond. by with capital that customers geographic the long-term profitably innovate and cash to model, maintain high grow, through relationships support margin a to gross continue with we expanding And continue to and model continue our suite to us and retention and supports free flow
evolutionary strategies that the deliver and revolutionary in these to strong profitability us fundamentals, for asymmetric our future. on us allow while goals upside positioning focused remain we With growth
and continue steadfast to and generate activities value. maintain on capital will the to customer We the and commitment allocate innovations returns delivering superior time our our strongest that
in executing of In the growth summary, we compounded us opportunities are front on improving today, our model.
Our business from that continue is large amount driven by trends create perspective. macro to uncertainty a policy a of
drive AI combination flow advantage indispensable adjusted high a operational Our strong that free Strategically, thereafter. data, business strong and of of we our leverage profit to intelligence value for a EBITDA FiscalNote. gross and adjusted for recurring and our sustainable provides unparalleled unique customers cash foundation have will profitability QX revenue, soon in margins human and competitive
of the strength our the that we will business. today, are While long confident fundamentals term, our are our yet our reflected stock price in valuation fundamentals not with align of
we profitable, most As building this world's and beyond. scaling $XXX leaders, a in and revenue value XXX% business $X important compounding makers are $XXX, growth million, to focused decision company unique recurring the that to billion provides durable, on $XXX and
Now it to for over outlook on let turn Jon going our me and forward. details financials our