Emerald Holding Inc (NYSE: EEX) is a B2B events and media company that organizes trade shows, conferences, expos, and executive peer networking events across multiple industry verticals. Revenue comes primarily from exhibitor fees and attendee registrations tied to live events, with additional income from content and commerce products sold through its Connections, Content, and Commerce business lines. Emerald reported revenues of $463.4 million in FY2025, up 16.2% from $398.8 million in FY2024, with Adjusted EBITDA of $127.1 million in FY2025. The company carries a debt-heavy balance sheet, with interest expense of $48.8 million in FY2025 under its Second Amended and Restated Senior Secured Credit Facilities. Goodwill stood at $783.6 million as of December 31, 2025, reflecting an acquisition-driven growth strategy. Emerald was acquired by Onex Corporation from Nielsen Holdings in June 2013 and has since grown through acquisitions, adding Generis Group, This is Beyond, and Insurtech in 2025 alone. The company pays a quarterly dividend of $0.0150 per common share.

Revenue model

Emerald generates revenue transactionally through exhibitor booth sales and attendee registrations at live B2B trade shows, conferences, and expos, supplemented by content and commerce products. Revenue is event-driven and concentrated around the staging calendar. The company reported $463.4 million in total revenues for FY2025.

Products and services

Emerald operates three business lines: Connections (B2B trade shows, expos, conferences, executive peer networking events), Content, and Commerce. Named events include ASD Market Week, International Pizza Expo, International Gift Exposition in the Smokies (IGES), Pizza Expo Columbus, and Medtrade. Executive peer networking events operate under the Connecting Point Marketing Group, Hotel Interactive, and Generis Group brands across food, pharmaceutical, hospitality, and other sectors.

Customers and end markets

Emerald serves exhibitors (manufacturers, suppliers) and attendees (buyers, retailers, industry professionals) across verticals including Home and Gift, Food and Pharma, Technology, Advertising and Marketing, and Hospitality. End markets include retail merchandise, pizza and food service, pharmaceutical, glamping and outdoor hospitality, insurtech, and marketing technology.

Value-chain role

Emerald sits between suppliers and buyers in B2B supply chains, acting as a marketplace organizer that convenes exhibitors and trade buyers at live events. In 2024 and 2025, the company pruned its event portfolio, permanently discontinuing 54 events totaling approximately $32.2 million in historic run-rate revenue to focus on larger, more profitable shows.

Geographic exposure

Emerald operates primarily in the United States, with some international presence through Generis Group executive peer networking events in Europe, as noted in the FY2025 10-K filed March 13, 2026.

Source: SEC 10-K, filed 2026-03-13

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