Emerald Holding, Inc.

Listed Company

EEXCIK 0001579214NYSEAcceleratedSmaller ReportingServices-Business Services, NecDelawareFY ends Dec 31

Period

FY 2025

Revenue

$463.40M

Net Income

$-30.70M

Total Assets

$1.21B

Equity

$338.80M

Shares Out

197.91M

Op. Cash Flow

$42.60M

Business

Emerald Holding, Inc. organizes business-to-business events and related media, data and digital commerce solutions primarily in the United States with expanding operations in the U.K. and other international markets. It offers live trade shows, conferences, hosted buyer programs, B2B print and digital media, and e-commerce SaaS platforms such as Elastic Suite and Bulletin. The company operates through three complementary business lines—Connections (live events), Content (publications and digital media) and Commerce (B2B e-commerce and merchandising). Emerald distributes products and services via in-person events, digital platforms, advertising channels and subscription-based software integrations.

Summary from filing dated 2025-03-14

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Revenues	463	399	383	326	146
Other income, net	0	2	3	183	77
Cost of revenues	169	148	138	117	57
Selling, general and administrative expense	241	170	168	145	143
Depreciation and amortization expense	31	28	45	60	48
Intangible asset impairment charge	0	7	0	2	33
Operating income	23	47	35	180	−65
Interest expense	49	48	43	25	16
Interest income	5	9	8	3	100,000
Other income	100,000	0	0	—	—
Loss on extinguishment of debt	0	0	2	0	—
Loss on disposal of fixed assets	0	0	200,000	0	400,000
(Loss) income before income taxes	−22	8	−3	158	−81
Provision for income taxes	9	5	5	27	−1
Net (loss) income attributable to Emerald Holding, Inc.	−31	2	−8	—	—
Accretion to redemption value of redeemable convertible preferred stock	0	−13	−42	−39	−36
Net loss attributable to Emerald Holding, Inc. common stockholders	−31	−11	−50	—	—
Basic loss per share	−0.15	−0.07	−0.78	0.46	−1.62
Diluted loss per share	−0.15	−0.07	−0.78	0.46	−1.62
Basic weighted average common shares outstanding	199	157	64	69	71
Diluted weighted average common shares outstanding	199	157	64	69	71

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Cash and cash equivalents	101	195	204	239	231
Trade and other receivables, net of allowances of $3.9 million and $1.6 million, as of December 31, 2025 and 2024, respectively	99	83	85	75	46
Prepaid expenses and other current assets	35	30	22	18	13
Total current assets	235	307	311	332	290
Intangible assets, net	181	156	175	205	237
Goodwill, net	784	574	554	546	514
Other noncurrent assets	13	12	4	4	3
Total assets	1,213	1,049	1,054	1,098	1,062
Accounts payable and other current liabilities	44	41	47	58	48
Income tax payable	2	0	200,000	1	—
Cancelled event liabilities	1	1	600,000	3	10
Deferred revenues	219	191	174	151	118
Contingent consideration	12	700,000	200,000	4	5
Right-of-use lease liabilities, current portion	5	4	4	5	5
Term loan, current portion	5	4	4	0	6
Total current liabilities	289	241	230	222	192
Term loan, net of discount and deferred financing fees	499	399	399	414	511
Deferred tax liabilities, net	18	5	3	2	2
Other noncurrent liabilities	69	18	9	11	32
Total liabilities	874	663	649	659	750
Commitments and contingencies (Note 16)	—	—	—	—	—
Common stock, $0.01 par value; authorized shares at December 31, 2025 and 2024: 800,000; 197,697 and 201,447 shares issued and outstanding at December 31, 2025 and 2024, respectively	2	2	600,000	700,000	700,000
Additional paid-in capital	1,016	1,034	559	610	653
Accumulated other comprehensive income	1	0	—	—	—
Accumulated deficit	−681	−650	−652	−644	−775
Total stockholders' equity	339	386	−93	−33	−121
Total liabilities and stockholders' equity	1,213	1,049	1,054	1,098	1,062

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31	FY 2021 2021-12-31
Net (loss) income	−31	2	−8	131	−80
Stock-based compensation	11	6	8	6	10
Allowance for credit losses	3	500,000	300,000	400,000	400,000
Loss on disposal of fixed assets and lease abandonment	0	100,000	1	—	—
Non-cash operating lease expense	3	2	3	3	3
Amortization of deferred financing fees and debt discount	1	4	3	2	2
Deferred income taxes	4	2	1	300,000	−400,000
Remeasurement of contingent consideration	46	−1	−2	−33	2
Trade and other receivables	6	5	−9	−25	−16
Insurance receivables	0	−500,000	0	—	18
Prepaid expenses and other current assets	6	−5	−2	−5	−4
Accounts payable and other current liabilities	−2	−7	−12	6	21
Cancelled event liabilities	−200,000	600,000	−3	−7	−16
Contingent consideration	−200,000	−200,000	0	−2	—
Income tax payable	−400,000	−3	−3	1	200,000
Deferred revenues	−30	9	20	30	68
Operating lease liabilities	−4	−3	−4	−5	−2
Net cash provided by operating activities	43	47	40	175	90
Acquisition of businesses, net of cash acquired	−195	−16	−10	−38	−125
Working capital adjustment receivable from seller	0	1	0	—	—
Purchases of property and equipment	−1	−1	−600,000	−2	−2
Purchases of intangible assets	−7	−9	−11	−9	−5
Net cash used in investing activities	−203	−25	−21	−48	−132
Payment of contingent consideration for acquisition of businesses	−3	0	−4	−4	—
Repayment of principal on Previous Extended Term Loan Facility	−170	−4	−2	—	—
Original issuance discount	−2	0	−13	—	—
Fees paid for debt issuance	−2	0	−2	−400,000	—
Repurchase of common stock	−18	−14	−17	−10	−12
Dividends on common stock	−12	−6	0	—	—
Preferred stock cash dividend	0	−9	−17	—	—
Proceeds from issuance of common stock under equity plans	500,000	2	200,000	100,000	100,000
Net cash provided by (used in) financing activities	67	−31	−54	−119	−22
Effect of foreign exchange rates on cash and cash equivalents	−400,000	0	0	—	—
Net decrease in cash and cash equivalents	−94	−9	−35	8	−64
Cash paid for income taxes	5	5	7	26	200,000
Cash paid for interest	41	44	38	23	14
Contingent consideration related to acquisitions	46	−1	−2	33	—
Unpaid capital expenditures	400,000	300,000	0	0	—
Conversion of redeemable convertible preferred stock to common stock	0	501	0	0	—
Second Amended and Restated Term Loan Facility	240	0	0	—	—
Previous Extended Term Loan Facility	−240	0	176	—	—
Amended and Restated Term Loan Facility	0	0	−176	0	—

Filings

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