Emerald Holding, Inc. Files 2023 Annual Report on Form 10-K

TL;DR

<b>Emerald Holding, Inc. has filed its 2023 10-K report detailing its business operations and financial standing for the fiscal year ending December 31, 2023.</b>

AI Summary

Emerald Holding, Inc. (EEX) filed a Annual Report (10-K) with the SEC on March 5, 2024. Emerald Holding, Inc. filed its 2023 Form 10-K on March 5, 2024. The filing covers the fiscal year ending December 31, 2023. The company's principal business is classified under SERVICES-BUSINESS SERVICES, NEC [7389]. Emerald Holding, Inc. was formerly known as Emerald Expositions Events, Inc. and Expo Event Holdco, Inc. The company is incorporated in Delaware and headquartered in San Juan Capistrano, California.

Why It Matters

For investors and stakeholders tracking Emerald Holding, Inc., this filing contains several important signals. This 10-K filing provides a comprehensive overview of Emerald Holding's financial performance, strategic initiatives, and risk factors for the fiscal year 2023, crucial for investors to assess the company's current health and future prospects. Understanding the company's historical structure, including its former names and incorporation details, provides context for its evolution and current market position.

Risk Assessment

Risk Level: medium — Emerald Holding, Inc. shows moderate risk based on this filing. The company's business is subject to various risks, including those related to its industry, operations, and financial structure, as detailed in the 10-K filing, which are typical for a company in the business services sector.

Analyst Insight

Review the detailed financial statements and risk factors within the 10-K filing to understand Emerald Holding's performance and potential challenges in the upcoming fiscal year.

Key Numbers

• 20231231 — Fiscal Year End (Conformed period of report)
• 20240305 — Filing Date (Filed as of date)
• 132 — Public Document Count (Conformed submission type)
• 001-38076 — SEC File Number (SEC file number)

Key Players & Entities

• Emerald Holding, Inc. (company) — Filer name
• 0000950170-24-025067 (other) — Accession number
• 20231231 (date) — Conformed period of report
• 20240305 (date) — Filed as of date
• 7389 (other) — Standard Industrial Classification
• DE (other) — State of incorporation
• Emerald Expositions Events, Inc. (company) — Former company name
• Expo Event Holdco, Inc. (company) — Former company name

FAQ

Industry Context

Emerald Holding operates within the business services sector, specifically focusing on event management and related services.

Regulatory Implications

The filing is a standard 10-K annual report required by the Securities and Exchange Commission (SEC) under the Securities Exchange Act of 1934.

What Investors Should Do

1. Analyze the financial statements for revenue trends, profitability, and debt levels.
2. Review the 'Risk Factors' section for potential challenges and uncertainties facing the company.
3. Examine management's discussion and analysis (MD&A) for insights into operational performance and strategic outlook.

Key Dates

• 2023-12-31: Fiscal Year End — End of the reporting period for the 10-K filing.
• 2024-03-05: Filing Date — Date the 10-K was officially filed with the SEC.

Year-Over-Year Comparison

This is the 2023 annual report (10-K) filing, providing updated information compared to previous filings.

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share EEX New York Stock Exchan
• $934 million — ggregate consideration of approximately $934 million. In June 2020, we entered into an inv
• $5.60 — eferred stock") for a purchase price of $5.60 per share (the "Series A Price per Shar
• $252.0 m — ved aggregate proceeds of approximately $252.0 million, net of fees and estimated expens
• $11.6 million — , net of fees and estimated expenses of $11.6 million. In conjunction with the investment agr
• $9.7 million — received net proceeds of approximately $9.7 million from this rights offering. Pursuant to
• $121.3 m — exchange for proceeds of approximately $121.3 million, net of fees and expenses of $5.6
• $5.6 million — .3 million, net of fees and expenses of $5.6 million. 2 As of December 31, 2023, Onex ow

Filing Documents

• eex-20231231.htm (10-K) — 4867KB
• eex-ex10_33.htm (EX-10.33) — 33KB
• eex-ex10_39.htm (EX-10.39) — 130KB
• eex-ex10_40.htm (EX-10.40) — 136KB
• eex-ex10_42.htm (EX-10.42) — 53KB
• eex-ex10_43.htm (EX-10.43) — 198KB
• eex-ex21_1.htm (EX-21.1) — 5KB
• eex-ex23_1.htm (EX-23.1) — 3KB
• eex-ex31_1.htm (EX-31.1) — 13KB
• eex-ex31_2.htm (EX-31.2) — 13KB
• eex-ex32_1.htm (EX-32.1) — 11KB
• eex-ex97_1.htm (EX-97.1) — 60KB
• img11722185_0.jpg (GRAPHIC) — 19KB
• img119747603_0.jpg (GRAPHIC) — 491KB
• 0000950170-24-025067.txt (&nbsp;) — 21984KB
• eex-20231231.xsd (EX-101.SCH) — 2755KB
• eex-20231231_htm.xml (XML) — 3976KB

Business

Business 2 Item 1A.

Risk Factors

Risk Factors 10 Item 1B. Unresolved Staff Comments 24 Item 1C. Cybersecurity 24 Item 2.

Properties

Properties 25 Item 3.

Legal Proceedings

Legal Proceedings 25 Item 4. Mine Safety Disclosures 25 PART II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26 Item 6.

Selected Financial Data

Selected Financial Data 27 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 32 Item 7A.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 69 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 70 Item 9. Changes in and Disagreements With Accountants on Accounting and Financial Disclosure 126 Item 9A.

Controls and Procedures

Controls and Procedures 126 Item 9B. Other Information 127 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 127 PART III Item 10. Directors, Executive Officers and Corporate Governance 129 Item 11.

Executive Compensation

Executive Compensation 129 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 129 Item 13. Certain Relationships and Related Transactions, and Director Independence 129 Item 14. Principal Accounting Fees and Services 129 PART IV Item 15. Exhibits, Financial Statement Schedules 130 Item 16. Form 10-K Summary 130 CAUTIONARY NOTE REGARDING F ORWARD-LOOKING STATEMENTS This Annual Report on Form 10-K contains forward-looking statements within the meaning of the U.S. Private Securities Litigation Reform Act of 1995. You can generally identify forward-looking statements by our use of forward-looking terminology such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "potential," "predict," "seek" or "should," or the negative thereof or other variations thereon or comparable terminology. In particular, statements about general economic conditions, or more specifically about the markets in which we operate, including growth of our various markets, and our expectations, beliefs, plans, strategies, objectives, prospects, assumptions or future events or performance contained in this report are forward-looking statements. We have based these forward-looking statements on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond our control. These and other important factors, including the trends and other factors discussed in this report under the heading "Management's Discussion and Analysis of Financial Condition and Results of Operations," may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements, or could affect th

BUSINESS

BUSINESS Our Company Emerald is a leading operator of business-to-business ("B2B") trade shows in the United States. Leveraging our shows as key market-driven platforms, we integrate live events, media content, industry insights, digital tools, data-focused solutions and e-commerce platforms into three complementary business lines – Connections, Content and Commerce. Our Connections division consists of a collection of leading B2B trade show franchises, which typically hold market-leading positions within their respective industry verticals, with significant brand value established over a long period of time. Our Content division consists of B2B print publications and digital media products that complement our existing trade show properties. These print and digital media products provide industry specific business news and information across 20 sectors, facilitating year-round customer contact, new customer acquisition and content marketing vehicles. Our Commerce division offers B2B e-commerce and digital merchandising solutions, serving the needs of manufacturers and retailers through our Elastic Suite and Bulletin platforms, which create a digital year-round transactional platform for use by Emerald's customers, regardless of location. We also generate a substantial amount of first-party data across our events, content, and e-commerce platforms. We continue to develop products and processes based on our first-party data assets to enhance the customer experience, by providing actionable insights and measurable results through metrics such as content impressions, lead capture rates, conversion rates and transaction value per customer. Our efforts to provide customers with a clearer picture of the return on investment they receive from Emerald's events should help incentivize customers to deploy more marketing dollars with Emerald, ultimately driving higher revenue per customer. The data we generate should also create efficiencies within Emerald's sales e

View Full Filing

View this 10-K filing on SEC EDGAR