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Emerald Holding Inc
F:EM7

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Emerald Holding Inc
F:EM7
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Price: 4.38 EUR 0.46% Market Closed
Market Cap: €892.8m

Emerald Holding Inc
Investor Relations

Emerald Holding is a business-to-business trade show and event company. It plans and runs live events, trade shows, conferences, and other gatherings where companies in a specific industry meet buyers, suppliers, and partners. Its events are built around focused markets such as retail, sports, dental, and other professional niches, so exhibitors and attendees can do real business in one place. The company makes money mainly by selling booth space, sponsorships, and conference passes, along with related services such as event production, digital marketing, and attendee data products. Its customers are mostly businesses that want to reach a targeted audience, plus professionals who pay to attend the events and learn about products, trends, and new suppliers. Emerald’s role is different from a typical media or software company because it sits in the middle of a market’s buying and selling activity. It does not make the products shown at its events; it creates the marketplace where those products are introduced, compared, and sold. That makes its business closely tied to the value of face-to-face industry connections and specialized trade communities.

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Last Earnings Call
Fiscal Period
Q4 2025
Call Date
Mar 13, 2026
AI Summary
Q4 2025

Revenue: Full year 2025 revenue was $463.4 million, up 16.2% year‑over‑year; Q4 revenue was $132.7 million vs. $106.8 million prior year.

Profitability: Full year adjusted EBITDA was $127.1 million (up from $101.7 million); Q4 adjusted EBITDA was $36.3 million (vs. $33.1 million).

2026 Outlook: Management guided 2026 revenue of $490 million to $495 million and adjusted EBITDA of $137.5 million to $142.5 million (midpoint ≈ 6% revenue and 10% EBITDA growth).

Cash Flow: Management expects free cash flow of $85 million to $90 million in 2026, noting 2025 FCF was $34.3 million and was materially impacted by acquisition timing and refinancing fees.

Portfolio & M&A: Company completed tuck‑ins in 2025 (This is Beyond, Insurtech Insights, Generis), says portfolio is stronger/diversified and will continue selective M&A while Board continues an ongoing strategic review.

Operational priorities: Focus on automation, process optimization and AI pilots to improve scalability and margins; early AI agents have reduced inbound service load on sales/customer success.

Key Financials
Revenue (Q4 2025)
$132.7 million
Revenue (Full Year 2025)
$463.4 million
Reported organic revenue (Full Year 2025)
1.1%
Reported organic revenue (Q4 2025)
0.3%
Adjusted EBITDA (Q4 2025)
$36.3 million
Adjusted EBITDA (Full Year 2025)
$127.1 million
Free cash flow (Q4 2025)
$10.1 million
Free cash flow (Full Year 2025)
$34.3 million
Cash on hand (Dec 31, 2025)
$100.9 million
Total liquidity (Dec 31, 2025)
$210.4 million
Revolver availability
$110 million
Net debt to covenant EBITDA
2.86x
SG&A (Q4 2025)
$88.7 million
SG&A (Full Year 2025)
$241.2 million
Acquisition cash flow timing impact
$30 million
Refinancing fees impacting FCF
$6.5 million
Total impact on reported FCF (acquisitions + fees)
$36.6 million
Share repurchases (Q4 2025)
282,386 shares at $4.56 average
Share repurchases (Full Year 2025)
4,058,604 shares at $4.32 average
Dividend
$0.015 per share (quarterly)
Revenue from Middle East exhibitors
less than 1%
Contracted 2026 revenue
over 70% contracted
Q4 organic revenue growth assuming acquisitions included
5.3%
Full year organic revenue growth assuming acquisitions included
4.8%
Earnings Call Recording
Other Earnings Calls

Management

Mr. Herve Sedky
CEO, President & Director
No Bio Available
Mr. David B. Doft
Chief Financial Officer
No Bio Available
Mr. Issa Jouaneh
President of Connections
No Bio Available
Ms. Sara Altschul
Executive VP, General Counsel & Secretary
No Bio Available
Ms. Beth Cowperthwaite
Senior Vice President of Communications
No Bio Available
Mr. Les Weir
Senior Vice President of Corporate Development
No Bio Available
Ms. Ren Akinci
Executive Vice President of People & Culture
No Bio Available
Ms. Joanne Wheatley
Senior Vice President of Marketing & Digital Operations
No Bio Available
Mr. Gannon Brousseau
Executive Vice President
No Bio Available

Contacts

Address
CALIFORNIA
San Juan Capistrano
31910 Del Obispo St Ste 200
Contacts
+19492265700.0
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