Emerald Holding, Inc.

NYSE•EEX

CEO: Mr. Herve Sedky

Sector: Communication Services

Industry: Advertising Agencies

Listing Date: 2017-04-28

Emerald Holding, Inc. operates business-to-business (B2B) trade shows in the United States. The company provides B2B trade show franchises; and B2B print publications and digital media products, which provide industry specific business news and information across various sectors. It also offers B2B e-commerce and digital merchandising solutions to manufacturers and retailers through Elastic Suite and Bulletin platforms. The company serves retail, design, technology, equipment, and safety and security. Emerald Holding, Inc. was incorporated in 2013 and is headquartered in New York, New York.

Contact Information

100 Broadway, 14th Floor, New York, NY, 10005, United States

949-226-5700

www.emeraldx.com

Market Cap

$993.50M

P/E (TTM)

-25.6

0.5

Dividend Yield

1.2%

52W High

$5.45

52W Low

$3.32

52W Range

80%

Rank48Top 64.4%

3.3

F-Score

Modified Piotroski Analysis

Based on 10-year fundamentals

Weak • 3.3 / 9 points

Scoring Range (0-9)

8-9: Excellent Value

6-7: Strong Fundamentals

4-5: Average Quality

0-3: Weak Performance

Data Period: 2016-2025

Financial Dashboard

Q1 2026 Data

Revenue

$155.40M+0.00%

4-Quarter Trend

EPS

$0.04+0.00%

4-Quarter Trend

FCF

$28.50M+0.00%

4-Quarter Trend

2025 Annual Earnings Highlights

Key Highlights

Revenue Jumps 16.2% Total revenues reached $463.4M in 2025, marking a $64.6M increase over prior year results.

Adjusted EBITDA Rises 25.0% Adjusted EBITDA grew to $127.1M, reflecting a $25.4M improvement driven by 2025 acquisitions.

Strategic Acquisitions Completed Secured three key acquisitions in 2025: Insurtech, This is Beyond, and Generis Group expanding global footprint.

Cash Flow Slightly Decreases Free Cash Flow was $34.3M, a modest $2.7M decrease despite significant M&A activity this period.

Risk Factors

Operating Income Significantly Drops Operating income fell 51.9% to $22.5M, impacted by higher SG&A and acquisition costs incurred.

High Contingent Consideration Risk Contingent consideration liability balance grew to $75.1M, reflecting significant unobservable input measurements.

Revenue Concentration Risk Top five trade shows generated 24% of total 2025 revenue, posing concentration risk if performance declines.

Increased Leverage and Debt Total debt increased to $512.5M following 2025 refinancing transactions, limiting future financial flexibility.

Outlook

Portfolio Optimization Continues Management decided to accelerate pruning of smaller, unprofitable events, discontinuing 26 events in 2025.

Focus on Organic Growth Drivers Strategy centers on leveraging event participation to drive incremental value, premium pricing, and recurring revenue streams.

Debt Covenants Compliance Maintained compliance with debt covenants post-2025 refinancing; future dividend payments subject to discretion.

Technology Adoption Expected Expect continued adoption of AI technologies like generative AI to enhance efficiency and service offerings.

Peer Comparison

Revenue (TTM)

SBGI

$3.20B

-9.2%

GCI

$2.28B

-6.8%

DLX

$2.13B

+0.5%

Gross Margin (Latest Quarter)

EVER

97.8%

+1.1pp

FVRR

82.1%

-0.2pp

GETY

63.4%

-0.1pp

Key Metrics

Symbol	Market Cap	P/E (TTM)	ROE (TTM)	Debt to Assets
TBLA	$1.30B	12.2	11.9%	9.7%
CCO	$1.23B	-5.8	6.0%	173.0%
DLX	$1.09B	10.6	15.5%	56.2%

Long-Term Trends

Last 4 Quarters

Revenue

Net Income

Operating Cash Flow

4Q Revenue CAGR

13.8%

Steady Growth

4Q Net Income CAGR

N/M

Profitability Shift

Cash Flow Stability

100%

Strong Cash Flow

Deep Research

Financials

Earnings Calls

Reports

News

Income Statement

Balance Sheet

Cash Flow Statement

Ratios

% Chg.

Income Statement	LTM

No Data