What guidance did Emerald Holding's management provide for the next earnings period?

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What were the key takeaways from Emerald Holding’s earnings call?

What is Emerald Holding's gross profit margin?

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Did Emerald Holding beat or miss consensus estimates last quarter?

What does Emerald Holding do and what are its main business segments?

What were the key takeaways from Emerald Holding's earnings call?

- **Record 2025 Performance**: 16.2% revenue growth to $463.4M, 25% EBITDA rise to $127.1M, driven by acquisitions and organic growth. 
- **2026 Guidance**: $490M-$495M revenue, $137.5M-$142.5M EBITDA, with 70%+ revenue contracted. 
- **Free Cash Flow Outlook**: $85M-$90M, excluding one-time M&A costs. 
- **AI Investment**: Scalable AI agents reducing customer service needs, enhancing event efficiency. 
- **M&A Momentum**: Active pipeline in high-growth sectors, with 90%+ revenue from core events business. 
- **Minimal Middle East Risk**: <1% revenue exposure, no operational impact from regional tensions. 


**【CEO Summary Section】**
- **Transformational Year 2025**: Revenue grew 16.2% YoY to $463.4M, adjusted EBITDA rose 25% to $127.1M. Organic revenue increased 1.1% reported, 4.8% assuming 2024 acquisitions. 
- **Strategic Portfolio Reshaping**: Exited underperforming brands, acquired This is Beyond, Insurtech Insights, and Generis to expand into luxury, manufacturing, and executive networks. 
- **2026 Outlook**: Guidance of $490M-$495M revenue and $137.5M-$142.5M EBITDA, driven by strong demand and disciplined execution. 
- **Live Events Resilience**: 70%+ of 2026 revenue contracted, with face-to-face engagement remaining critical for B2B outcomes. 
- **Middle East Impact**: <1% revenue from Middle East exhibitors, no material operational effects. 

**【CFO Financial Commentary】**
- **Q4 2025 Results**: Revenue $132.7M (+24%), adjusted EBITDA $36.3M (+9.7%). Full year free cash flow $34.3M, impacted by $36.6M in acquisition-related timing and fees. 
- **Expense Management**: SG&A up 41% YoY due to acquisition costs, but net debt/EBITDA ratio at 2.66x, below 3.0x target. 
- **Share Repurchases & Dividends**: $24.6M remaining under buyback program; $0.015 quarterly dividend declared. 
- **2026 Free Cash Flow**: Estimated $85M-$90M, excluding one-time M&A expenses. 

**【Q&A Highlights】**
- **AI Implementation**: AI agents rolled out at events to enhance exhibitor experience, reducing customer service calls and improving scalability. 
- **M&A Pipeline**: Active in high-growth sectors, with 90%+ revenue from events business. 
- **L Vegas Convention Center**: Post-construction event in March 2026, expecting improved exhibitor experience. 
- **Strategic Review Costs**: Moderate expenses, no material impact on P&L. 
- **Content Business**: Lead gen initiatives show early success, stabilizing post-COVID disruption. 


Emerald Holding, Inc. (EEX) Q4 2025 Earnings Call Transcript

- **Revenue Growth**: Year-to-date revenue up 13.3% to $330.7 million, driven by acquisitions and organic growth. Q3 organic decline due to one-time construction/tariff issues.
- **Generis Impact**: 2026 to add $10 million from newly acquired peer-to-peer events, offsetting 2025 construction-related softness.
- **AI Innovation**: Launch of AI-powered event agent to streamline attendee experience, with scalable expansion across portfolio.
- **Financial Strength**: $205 million liquidity, expanded $25 million share buyback program, and 3.0x net debt/EBITDA ratio.
- **Strategic Momentum**: 70% exhibitors rate in-person meetings as highly effective, with 2026 rebooking momentum strong across portfolio.

**【CEO Summary Section】**
- Q3 revenue of $77.5 million reflects organic decline of 6.8% YoY, driven by construction-related issues at Las Vegas Convention Center and tariffs. Adjusted EBITDA was $12.8 million, up 2.4% YoY.
- Generis acquisition adds 11 U.S. and 6 European peer-to-peer events, bringing total to over 50 annually. Generis contributed $0 revenue in Q3 but will add ~$10 million in 2026.
- AI-powered event agent launched to streamline attendee interactions, with plans to expand across portfolio.
- 2026 rebooking momentum strong, with 70% exhibitors agreeing in-person meetings are highly effective.
- International business growing in Italy, Germany, UAE, Brazil, with 10% of revenue from outside U.S.

**【CFO Financial Commentary】**
- Year-to-date revenue $330.7 million (+13.3% YoY), Organic Revenue +1% YoY. Adjusted EBITDA $90.8 million (+32.4% YoY).
- Free cash flow negative in Q3 due to timing of payments, but year-to-date cash generation strong. Total liquidity $205.4 million.
- Share buyback program expanded to $25 million through 2026. Dividend of $0.015 per share declared.
- Full-year 2025 guidance updated to $460-465 million revenue and $122.5-127.5 million EBITDA, reflecting Generis impact.

**【Q&A Key Highlights】**
- **Tariffs & Construction Impact**: $6 million combined impact on Q3 revenue, with construction issues expected to resolve in 2026. Tariffs most impactful in China, Canada, but offset by growth in other markets.
- **Generis Contribution**: $10 million incremental 2026 revenue from Generis events, with no 2025 contribution due to acquisition timing.
- **AI Agent Benefits**: Simplifies attendee experience, improves lead gen, and reduces manual processes.
- **M&A Pipeline**: Active in high-growth sectors, with disciplined approach to valuation and integration.
- **International Expansion**: 100+ agents selling U.S. events globally, up from 40 in 2023, driving diversification beyond tariff-affected markets.

Emerald Holding, Inc. (EEX) Q3 2025 Earnings Call Transcript

- **Strong Financial Performance**: Q2 revenue up 22.7% YoY to $105.5M, EBITDA surging 59.5% to $24.4M. Pro forma organic growth 5% YoY, driven by acquisitions.
- **Challenges and Resilience**: Q3 organic growth expected negative due to Vegas Convention Center construction, but Q4 poised for rebound. International revenue 99% secured, with growth in Europe and Latin America offsetting China/Canada softness.
- **Strategic Momentum**: 2026 rebooking rates positive, AI initiatives yielding early efficiency gains. Global agent network expansion to drive long-term international growth.
- **Shareholder Value**: $6.9M in share buybacks, dividend of $0.015/share, and reaffirmed full-year guidance of $450-460M revenue and $120-125M EBITDA.

**【CEO Summary Section】**
- **Revenue and EBITDA Growth**: Q2 revenue reached $105.5 million, up 22.7% YoY, with adjusted EBITDA of $24.4 million, a 59.5% increase. Pro forma organic growth (including recent acquisitions) was 5% YoY.
- **Acquisition Impact**: This is Beyond and Insurtech Insights contributed significantly, with This is Beyond expecting 4 more events in Q3 and Q4. Insurtech's U.S. event drew strong participation.
- **Macro Resilience**: Despite tariffs and softness in China/Canada, international revenue is 99% secured for the year. Pockets of growth in Italy, Germany, and Brazil offset challenges.
- **Event Momentum**: 2026 rebooking rates are encouraging, with exhibitors valuing in-person engagement for lead generation and ROI.
- **Strategic Focus**: Continued investment in AI for efficiency, global agent network expansion (100 agents in 50+ countries), and portfolio optimization in resilient sectors.

**【CFO Financial Commentary】**
- **Revenue Breakdown**: Total revenue $105.5M (vs. $86M), with reported organic growth 0.4% YoY due to event mix. Pro forma organic growth 5% YoY.
- **Profitability**: Adjusted EBITDA margin 23.1% (vs. 17.8% YoY), LTM EBITDA $123.1M. Free cash flow $13.8M (vs. $7.1M), with $17M higher if adjusted for acquisition timing effects.
- **Balance Sheet**: $156.4M cash, $266.4M liquidity, net debt/EBITDA 2.56x (target <3x). Shares repurchased: 1.6M ($6.9M), $20.8M remaining under buyback.
- **Guidance**: Full-year revenue $450-460M, EBITDA $120-125M. Q3 organic growth expected negative due to Vegas Convention Center construction, rebounding in Q4.

**【Q&A Highlights】**
- **Q3 Outlook**: Organic growth expected negative due to Vegas construction impacting largest event. Q4 growth to offset, with full-year targets intact.
- **Acquisition Contribution**: This is Beyond and Insurtech to add ~$40M in 2025 revenue, with bulk in Q3/Q4. Vegas construction to affect one Q4 event but less impact due to higher event volume.
- **Macro Impact**: International revenue drag (~10% of total) expected to reverse in 2026 as trade clarity improves. AI initiatives showing early efficiency gains in finance, marketing, and customer service.
- **Shareholder Returns**: Dividend of $0.015/share declared, with buyback activity reflecting management confidence in long-term value.


Emerald Holding, Inc. (EEX) Q2 2025 Earnings Call Transcript

- **Q1 Growth Milestone**: $147.7M revenue (+9.2% YoY), marking 10th consecutive quarter of double-digit EBITDA growth.
- **Acquisition Payoff**: InsureTech acquisition added $5M+ EBITDA, with This Is Beyond events pacing 20%+ ahead of expectations.
- **AI-Driven Efficiency**: 5+ AI tools deployed across functions, with legal contract processing time reduced by 30%.
- **Cash Position Strength**: $276.8M cash + $110M credit facility support $139M This Is Beyond acquisition and $25M buyback reauthorization.
- **Resilience Play**: 10% international revenue exposure limits trade policy risk, while 70%+ of events in high-growth sectors (construction, food, tech) shield against macro volatility.

**【CEO Key Initiatives】**
- **Revenue Growth**: Q1 2025 revenue reached $147.7M, up 9.2% YoY, driven by 5.6% organic growth in connections business.
- **Strategic Acquisitions**: Completed acquisition of This Is Beyond (experiential events) and InsureTech Insights (insurance events), with 2025 event sales pacing ahead of expectations.
- **Market Resilience**: 90%+ of FY2025 international exhibitor revenue targets sold, with strength in Turkey, Brazil, and UAE offsetting China/Canada declines.
- **AI & Efficiency**: Rolled out AI tools across marketing, content, and legal functions to enhance operational efficiency.

**【CFO Financial Highlights】**
- **Profitability**: Adjusted EBITDA of $53.6M (36.3% margin), up 34.7% YoY, driven by cost management and InsureTech acquisition benefits.
- **Cash Flow**: Free cash flow of $10.8M (excluding one-time refinancing costs), with $276.8M cash on hand to support M&A and shareholder returns.
- **Shareholder Value**: Repurchased 2.8M shares ($11.6M) in Q1, with $25M buyback reauthorized; initiated $0.015 quarterly dividend.

**【Q&A Key Takeaways】**
- **Trade Policy Impact**: China/Canada exhibitor revenue down as expected, but emerging markets (Turkey, Brazil) compensating for 10% of total revenue exposure.
- **Acquisition Timing**: InsureTech's London event (Q1) and This Is Beyond's Q2 events contributed $3M+ incremental revenue, with full-year benefits visible in 2026.
- **AI ROI**: Early-stage AI adoption across 5+ functions, with focus on marketing efficiency and legal contract optimization.
- **Guidance Confidence**: On track for FY2025 $450-460M revenue and $120-125M EBITDA, with 100+ bps margin expansion expected through platform scalability.

Emerald Holding, Inc. (EEX) Q1 2025 Earnings Call Transcript

- **Acquisition Growth**: $40M+ revenue and $15M EBITDA from luxury travel and insurance tech acquisitions in 2025.
- **Financial Strength**: 2024 Free Cash Flow up 36% to $35.5M; 2025 EBITDA margin to improve 200bps to 27%.
- **Strategic Focus**: Portfolio optimization shifts 13% of revenue to luxury sectors, reducing low-margin events by 50%.
- **Execution Confidence**: 2025 guidance reflects real-time sales momentum, with 36% of intl. revenue already secured.

**【CEO Strategic Overview】**
- Announced two acquisitions: This is Beyond (luxury travel events) and Insurtech Insights (insurance tech conferences), expected to contribute $40M revenue and $15M EBITDA in 2025.
- Portfolio optimization: Pruned unprofitable events, shifting focus to high-growth sectors like luxury travel and insurance tech.
- 2025 Outlook: Revenue $450M-$460M, Adjusted EBITDA $120M-$125M (27% margin), driven by organic growth and M&A pipeline.
- Long-term vision: Strengthen portfolio mix, enhance customer engagement, and capitalize on emerging industry trends.

**【CFO Financial Highlights】**
- Q4 2024 Revenue: $106.8M (+5.9% organic growth), Full-Year Revenue: $398.8M (+4.2% YoY).
- Adjusted EBITDA: $100.2M (+5.5% YoY), Free Cash Flow: $35.5M (+36% YoY).
- Debt Refinancing: Upsized $515M term loan with 375bps spread, reducing interest costs by 125bps.
- Share Buybacks: $53.7M repurchased since 2021, with $17.4M remaining under current authorization.

**【Q&A Key Takeaways】**
- Acquisition Payments: $160M upfront, with deferred earn-outs tied to 2027-2028 performance.
- Seasonality Impact: 1Q25 revenue mix reduced by ~2-3% due to delayed event staging, offset by 2Q25 growth.
- Risk Mitigation: 10% international revenue exposure, with 36% of 2025 intl. revenue already sold pre-tariff concerns.
- Travel Sector Potential: This is Beyond's entrepreneurial pipeline aligns with Xcelerator strategy, targeting new event launches in 2025+.
- Construction Impact: Las Vegas Convention Center completion by end-2025, improving customer experience in 2026+.

Actual											0.38	0.29	-0.08	-0.02	-0.2809	-0.7083	-0.2233	0.365	0.2649	-0.2474	0.5047	0.34	0.0224	-0.2391	0.0189	-0.3932	0.1058	-0.0274	-0.0039	0.0502	0.1238	0.0081	-0.0245	-0.1314
Forecast											0.3996	0.0383	0.1675	0.051	0.2515	-0.07	0.06	0.14	0.19	0.24	0.12	0.15	0.22	-0.085	-0.16	0.135	0.12	-0.065	-0.03	0.05	0.07	0.005	-0.035	0.045
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-4.90%	+657.18%	-147.76%	-139.22%	-211.69%	-911.86%	-472.17%	+160.71%	+39.42%	-203.08%	+320.58%	+126.67%	-89.82%	-181.29%	+111.81%	-391.26%	-11.83%	+57.85%	+87.00%	+0.40%	+76.86%	+62.00%	+30.00%	-392.00%

Actual	--	--	--	--	--	--	--	--	--	--	99.70M	7.00M	8.50M	12.20M	12.90M	15.00M	76.50M	41.10M	98.50M	71.40M	62.40M	93.60M	122.30M	86.50M	72.50M	101.50M	133.40M	86.00M	72.60M	106.80M	147.70M	105.50M	77.50M	132.70M
Forecast	--	--	--	--	--	--	--	--	--	--	109.45M	15.95M	29.07M	27.53M	84.75M	30.00M	50.00M	63.00M	65.00M	70.00M	51.50M	63.50M	123.80M	86.70M	72.90M	106.15M	127.15M	87.10M	76.55M	108.00M	134.50M	100.20M	76.75M	131.15M
Surprise	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	0.00%	-8.91%	-56.11%	-70.76%	-55.69%	-84.78%	-50.00%	+53.00%	-34.76%	+51.54%	+2.00%	+21.17%	+47.40%	-1.21%	-0.23%	-0.55%	-4.38%	+4.92%	-1.26%	-5.16%	-1.11%	+9.81%	+5.29%	+0.98%	+1.18%

EEX

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EEX Q4 2025 Earnings

Earnings Call

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EEX

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EEX Q4 2025 Earnings

Earnings Call

EEX Earnings Call Summary for Q4/20258:30 AM on Mar 13, 2026

EEX Earnings Call Summary for Q3/20258:30 AM on Oct 31, 2025

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EEX Earnings Call Summary for Q1/20258:30 AM on May 1, 2025

EEX Earnings Call Summary for Q4/20248:30 AM on Mar 14, 2025

You can ask Aime