Short answer
Emerald Holding, Inc. (EEX) filed its fiscal 2025 10-K annual report with the SEC on Mar 13, 2026. It reported revenue of $463M (+16.2% year over year) and net income of −$31M.
- Top risk flagged: Cybersecurity risk overseen by Audit Committee, with immediate notification protocol for incidents involving Senior VP of IT
FY2025 key financial metrics · XBRL
- Revenue
- $463M
- +16.2% YoY
- Net income
- −$31M
- −1495.5% YoY
- Operating margin
- 4.9%
- −6.9 pp YoY
- EPS (diluted)
- −$0.15
- −114.3% YoY
- ROE
- -9.1%
- −9.6 pp YoY
- Operating cash flow
- $43M
- −9.0% YoY
Source: XBRL data from the Emerald Holding, Inc. (EEX) FY2025 10-K on SEC EDGAR. USD.
Emerald Holding, Inc. FY2025 10-K analysis
AI summary of each section, grounded in the filing text
Business Overview
- Core business model: B2B event organizer integrating live events, digital media/content, and B2B e-commerce platforms across three lines; Connections, Content, Commerce
- New acquisitions in 2025: Insurtech Insights (insurance tech events), This is Beyond (luxury/travel trade events), Generis Group (executive peer summits) to expand global footprint and industry coverage
- Strategic shift: Accelerated portfolio optimization with discontinuation of 26 events in 2025, eliminating $11M historic revenue from smaller, unprofitable events
- Notable metric: 821 full-time employees as of Dec 31, 2025, with senior management 50% female and overall workforce 60% female
- Unique fact: Onex owns 93.3% of outstanding common stock post-May 2024 preferred stock conversion, highlighting concentrated ownership and control
Management Discussion & Analysis
- Revenue $463.4M, up 16.2% YoY from $398.8M, Organic revenue $397.0M, up 1.1% YoY from $392.6M
- Operating income $22.5M, down 51.9% YoY from $46.8M, operating margin 4.9% vs 11.7% in 2024
- Connections (trade shows/live events) segment strongest, but no separate segment revenue disclosed; no best/worst segment $ figures given
- Free Cash Flow $34.3M, down 7.3% YoY from $37.0M; dividend declared $0.015/share; significant acquisition-related expenses $62.2M in SG&A in 2025 vs $13.5M in 2024
- Management highlights economic inflation and interest rate risks, market fragmentation growth opportunities, and seasonality with revenue mostly in Q1 and Q4 as key forward factors
Risk Factors
- Cybersecurity risk overseen by Audit Committee, with immediate notification protocol for incidents involving Senior VP of IT
- Senior VP of IT leads global info security team, combining internal staff and external consultants managing Emerald's cybersecurity program
Generated from the filing text; verify against the original. How to read a 10-K
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