Emerald Holding Inc EEX surges 39.83% pre-market after strategic review and guidance reaffirmed

Emerald Holding, Inc. (NYSE:EEX) surged 39.83% in pre-market trading on December 17, 2025, following announcements of strategic review and reaffirmed financial guidance.

The company disclosed it is evaluating potential strategic options after receiving multiple acquisition inquiries, with Goldman Sachs & Co. LLC serving as lead financial advisor. CEO Hervé Sedky emphasized the inquiries reflect “market recognition of the value we’ve created,” though no transaction is guaranteed. The board is assessing options in line with fiduciary duties, with updates expected only if an agreement materializes.

Emerald reaffirmed its 2025 financial targets: revenue of $460–$465 million and Adjusted EBITDA of $122.5–$127.5 million. The firm also highlighted strong momentum into 2026, underscoring confidence in its B2B event platform and long-term growth strategy. Despite a six-month share price decline of over 24%, the company maintains a “GOOD” financial health rating, though liquidity challenges persist.

The strategic review follows mixed Q3 earnings, where revenue exceeded expectations but EPS fell short. Analysts remain neutral, with focus shifting to the potential for value unlocking through strategic alternatives amid sustained customer demand for its event-driven commerce solutions.