FiscalNote Earnings and Growth Projections
53
($mm, except where noted)
Revenue
Organic
Current Organic
Completed Deals in 2021
Under LOI¹
Total
Financial Model Summary
FY19A
FY20A
FY21E
FY22E
FY23E
FY24E
2021-24 CAGR
66
59
65
71
81
93
35
45
58
112
76
1
2
3
$66
$65
$108
$128
$155
$193
21%
(1%)
66%
19%
21%
25%
% growth
Future Acquisitions²
45
102
172
Total PF Revenue (inclusive of Acquisitions)³
$66
$65
$108
$173
$256
$365
50%
% growth
(1%)
66%
61%
48%
42%
Cost of Sales³,4
$13
$13
$22
$31
$40
$53
34%
Total PF Gross Profit (inclusive of Acquisitions)³
$53
$53
$86
$143
$216
$312
54%
% margin
80%
81%
79%
82%
84%
85%
Adjusted EBITDA (Organic only) 4,5
($13)
($14)
($20)
($9)
$12
$38
% margin
(19%)
(22%)
(19%)
(7%)
8%
20%
Note: Totals may not add up due to rounding. (1) Includes one target under LOI; (2) 30% probability weighting applied to pipeline acquisitions; (3) Denotes run-rate revenue which includes revenue acquired during the year of
acquisition. (4) Inclusive of completed acquisitions, targets under LOI and in pipeline on a run-rate basis; (5) Only includes acquisitions through November 30, 2021; does not include transactions closed thereafter or M&A targets
under LOI/in pipeline.
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