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FiscalNote Holdings, Inc.（NOTE）与Xtant Medical Holdings, Inc.（XTNT）财务数据对比。点击上方公司名可切换其他公司
Xtant Medical Holdings, Inc.的季度营收约是FiscalNote Holdings, Inc.的1.5倍（$32.4M vs $22.2M），Xtant Medical Holdings, Inc.同比增速更快（2.7% vs -24.7%），Xtant Medical Holdings, Inc.自由现金流更多（$5.0M vs $-1.9M），过去两年Xtant Medical Holdings, Inc.的营收复合增速更高（7.7% vs -16.8%）
FiscalNote Holdings, Inc.（常称FiscalNote）是一家上市的软件数据与传媒企业，总部位于美国华盛顿特区，2013年由三位创始人创立。核心业务为通过政府关系管理服务FiscalNote GRM提供软件工具、平台、数据服务与资讯，同时依托人工智能平台分析美国待审议法案相关内容。
Xtant Medical Holdings是一家全球医疗技术企业，主营骨科生物制剂、神经外科器械及再生医学解决方案，为骨科与神经科诊疗机构提供脊柱手术耗材、骨再生产品等，服务覆盖北美、欧洲及亚太多个地区市场。
NOTE vs XTNT — 直观对比
营收规模更大
XTNT
是对方的1.5倍
$22.2M
营收增速更快
XTNT
高出27.3%
-24.7%
自由现金流更多
XTNT
多$6.9M
$-1.9M
两年增速更快
XTNT
近两年复合增速
-16.8%
损益表 — Q4 FY2025 vs Q4 FY2025
| 指标 | | |
|---|---|---|
| 营收 | $22.2M | $32.4M |
| 净利润 | — | $57.0K |
| 毛利率 | — | 54.9% |
| 营业利润率 | -83.7% | -2.9% |
| 净利率 | — | 0.2% |
| 营收同比 | -24.7% | 2.7% |
| 净利润同比 | — | 101.8% |
| 每股收益（稀释后） | $-2.81 | $0.00 |
绿色 = 该指标领先。财年不对齐时期间可能不同
8季度营收与利润趋势
并排季度历史对比，按日历期对齐，财年错位的公司也能正确匹配
营收NOTEXTNT
| Q4 25 | $22.2M | $32.4M | ||
| Q3 25 | $22.4M | $33.3M | ||
| Q2 25 | $23.3M | $35.4M | ||
| Q1 25 | $27.5M | $32.9M | ||
| Q4 24 | $29.5M | $31.5M | ||
| Q3 24 | $29.4M | $27.9M | ||
| Q2 24 | $29.2M | $29.9M | ||
| Q1 24 | $32.1M | $27.9M |
净利润NOTEXTNT
| Q4 25 | — | $57.0K | ||
| Q3 25 | $-24.9M | $1.3M | ||
| Q2 25 | $-13.3M | $3.5M | ||
| Q1 25 | $-4.3M | $58.0K | ||
| Q4 24 | — | $-3.2M | ||
| Q3 24 | $-14.9M | $-5.0M | ||
| Q2 24 | $-12.8M | $-3.9M | ||
| Q1 24 | $50.6M | $-4.4M |
毛利率NOTEXTNT
| Q4 25 | — | 54.9% | ||
| Q3 25 | — | 66.1% | ||
| Q2 25 | — | 68.6% | ||
| Q1 25 | — | 61.5% | ||
| Q4 24 | — | 50.9% | ||
| Q3 24 | — | 58.4% | ||
| Q2 24 | — | 62.1% | ||
| Q1 24 | — | 62.1% |
营业利润率NOTEXTNT
| Q4 25 | -83.7% | -2.9% | ||
| Q3 25 | -43.4% | 7.6% | ||
| Q2 25 | -31.9% | 13.1% | ||
| Q1 25 | -50.0% | 3.2% | ||
| Q4 24 | -19.4% | -6.0% | ||
| Q3 24 | -23.1% | -13.5% | ||
| Q2 24 | -27.2% | -9.8% | ||
| Q1 24 | -35.6% | -12.4% |
净利率NOTEXTNT
| Q4 25 | — | 0.2% | ||
| Q3 25 | -110.8% | 3.9% | ||
| Q2 25 | -57.0% | 10.0% | ||
| Q1 25 | -15.4% | 0.2% | ||
| Q4 24 | — | -10.0% | ||
| Q3 24 | -50.7% | -18.0% | ||
| Q2 24 | -43.6% | -12.9% | ||
| Q1 24 | 157.6% | -15.8% |
每股收益（稀释后）NOTEXTNT
| Q4 25 | $-2.81 | $0.00 | ||
| Q3 25 | $-1.73 | $0.01 | ||
| Q2 25 | $-0.08 | $0.02 | ||
| Q1 25 | $-0.03 | $0.00 | ||
| Q4 24 | $1.88 | $-0.02 | ||
| Q3 24 | $-1.33 | $-0.04 | ||
| Q2 24 | $-0.09 | $-0.03 | ||
| Q1 24 | $0.37 | $-0.03 |
资产负债表与财务实力
最新季度各公司的流动性、杠杆与账面价值一览
| 指标 | | |
|---|---|---|
| 现金及短期投资手头流动性 | $26.3M | $17.1M |
| 总债务越低越好 | $128.4M | $11.0M |
| 股东权益账面价值 | $62.0M | $51.0M |
| 总资产 | $255.1M | $94.1M |
| 负债/权益比越低杠杆越低 | 2.07× | 0.22× |
8季度趋势，按日历期对齐
现金及短期投资NOTEXTNT
| Q4 25 | $26.3M | $17.1M | ||
| Q3 25 | $31.2M | $10.4M | ||
| Q2 25 | $38.5M | $6.9M | ||
| Q1 25 | $46.3M | $5.0M | ||
| Q4 24 | $34.6M | $6.2M | ||
| Q3 24 | $32.7M | $6.6M | ||
| Q2 24 | $37.7M | $5.4M | ||
| Q1 24 | $43.6M | $4.5M |
总债务NOTEXTNT
| Q4 25 | $128.4M | $11.0M | ||
| Q3 25 | $131.5M | $17.4M | ||
| Q2 25 | $116.7M | $22.3M | ||
| Q1 25 | $118.0M | $22.2M | ||
| Q4 24 | $147.1M | $22.0M | ||
| Q3 24 | $152.2M | $19.1M | ||
| Q2 24 | $145.9M | $21.8M | ||
| Q1 24 | $153.0M | $16.8M |
股东权益NOTEXTNT
| Q4 25 | $62.0M | $51.0M | ||
| Q3 25 | $75.5M | $50.4M | ||
| Q2 25 | $95.1M | $48.5M | ||
| Q1 25 | $98.7M | $43.9M | ||
| Q4 24 | $97.8M | $43.0M | ||
| Q3 24 | $98.5M | $45.7M | ||
| Q2 24 | $106.9M | $45.0M | ||
| Q1 24 | $106.1M | $47.7M |
总资产NOTEXTNT
| Q4 25 | $255.1M | $94.1M | ||
| Q3 25 | $273.9M | $106.3M | ||
| Q2 25 | $288.3M | $103.5M | ||
| Q1 25 | $299.7M | $95.8M | ||
| Q4 24 | $326.2M | $93.8M | ||
| Q3 24 | $337.9M | $98.9M | ||
| Q2 24 | $346.3M | $95.6M | ||
| Q1 24 | $357.8M | $93.9M |
负债/权益比NOTEXTNT
| Q4 25 | 2.07× | 0.22× | ||
| Q3 25 | 1.74× | 0.35× | ||
| Q2 25 | 1.23× | 0.46× | ||
| Q1 25 | 1.20× | 0.51× | ||
| Q4 24 | 1.50× | 0.51× | ||
| Q3 24 | 1.54× | 0.42× | ||
| Q2 24 | 1.36× | 0.48× | ||
| Q1 24 | 1.44× | 0.35× |
现金流与资本效率
扣除再投资后实际产生的现金。现金流比净利润更难造假
| 指标 | | |
|---|---|---|
| 经营现金流最新季度 | $-279.0K | $5.4M |
| 自由现金流经营现金流 - 资本支出 | $-1.9M | $5.0M |
| 自由现金流率自由现金流/营收 | -8.7% | 15.4% |
| 资本支出强度资本支出/营收 | 7.4% | 1.2% |
| 现金转化率经营现金流/净利润 | — | 94.39× |
| 过去12个月自由现金流最近4个季度 | $-18.6M | $10.2M |
8季度趋势，按日历期对齐
经营现金流NOTEXTNT
| Q4 25 | $-279.0K | $5.4M | ||
| Q3 25 | $-8.3M | $4.6M | ||
| Q2 25 | $-6.2M | $1.3M | ||
| Q1 25 | $3.3M | $1.3M | ||
| Q4 24 | $-1.3M | $665.0K | ||
| Q3 24 | $-3.0M | $-1.7M | ||
| Q2 24 | $-3.7M | $-5.1M | ||
| Q1 24 | $2.7M | $-5.8M |
自由现金流NOTEXTNT
| Q4 25 | $-1.9M | $5.0M | ||
| Q3 25 | $-10.4M | $4.2M | ||
| Q2 25 | $-7.7M | $910.0K | ||
| Q1 25 | $1.3M | $87.0K | ||
| Q4 24 | $-3.4M | $-7.0K | ||
| Q3 24 | $-5.4M | $-3.8M | ||
| Q2 24 | $-6.5M | $-5.7M | ||
| Q1 24 | $1.0M | $-6.5M |
自由现金流率NOTEXTNT
| Q4 25 | -8.7% | 15.4% | ||
| Q3 25 | -46.2% | 12.6% | ||
| Q2 25 | -33.0% | 2.6% | ||
| Q1 25 | 4.7% | 0.3% | ||
| Q4 24 | -11.4% | -0.0% | ||
| Q3 24 | -18.4% | -13.7% | ||
| Q2 24 | -22.1% | -18.9% | ||
| Q1 24 | 3.3% | -23.4% |
资本支出强度NOTEXTNT
| Q4 25 | 7.4% | 1.2% | ||
| Q3 25 | 9.3% | 1.3% | ||
| Q2 25 | 6.4% | 1.0% | ||
| Q1 25 | 7.2% | 3.6% | ||
| Q4 24 | 6.8% | 2.1% | ||
| Q3 24 | 8.3% | 7.5% | ||
| Q2 24 | 9.4% | 1.9% | ||
| Q1 24 | 5.3% | 2.8% |
现金转化率NOTEXTNT
| Q4 25 | — | 94.39× | ||
| Q3 25 | — | 3.53× | ||
| Q2 25 | — | 0.36× | ||
| Q1 25 | — | 22.03× | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 0.05× | — |
财务流量对比
营收 → 毛利润 → 营业利润 → 净利润流向图
业务分部营收拆解
NOTE
| Subscription | $21.2M | 95% |
| Advisory Advertising And Other | $1.0M | 5% |
XTNT
| Orthobiologics | $18.3M | 57% |
| Spinal Implant | $9.4M | 29% |
| License Revenue | $4.6M | 14% |
