Emerald Holding, Inc. Q3 2024 10-Q Filing

TL;DR

Emerald Holding's Q3 10-Q is in. Check financials for trade shows & debt.

AI Summary

Emerald Holding, Inc. filed its 10-Q for the period ending September 30, 2024. The filing details financial performance, including sales revenue and costs. Specific financial instruments like the Revolving Credit Facility and Amended and Restated Term Loan Facility are mentioned, along with financial metrics such as net loss income.

Why It Matters

This filing provides investors with a quarterly update on Emerald Holding's financial health and operational performance, crucial for investment decisions.

Risk Assessment

Risk Level: medium — The filing mentions customer concentration risk and details various credit facilities, indicating potential financial leverage and market dependency.

Key Numbers

• Q3 — Quarterly Period (Reporting period ending September 30, 2024)
• 2023-09-30 — Previous Year End Date (Comparison point for Q3 2023 performance)
• 2024-09-30 — Current Year End Date (Reporting period for Q3 2024 performance)

Key Players & Entities

• Emerald Holding, Inc. (company) — Filer
• 20240930 (date) — Period of Report
• 20241030 (date) — Filing Date
• 0000950170-24-118542 (other) — Accession Number
• us-gaap:RevolvingCreditFacilityMember (financial_instrument) — Financial Metric
• eex:TradeShowAndOtherEventsMember (business_segment) — Revenue Source
• us-gaap:CustomerConcentrationRiskMember (risk_factor) — Identified Risk
• eex:ConvexGroupLtdMember (company) — Mentioned Entity
• eex:AmendedAndRestatedTermLoanFacilityMember (financial_instrument) — Financial Metric
• eex:EmeraldNetLossIncomeMember (financial_metric) — Performance Indicator

FAQ

Key Financial Figures

• $0.01 — ch registered Common Stock, par value $0.01 per share EEX New York Stock Exchan
• $0 — he Registrant's common stock, par value $0.01, outstanding. EMERALD HOLDING, INC

Filing Documents

• eex-20240930.htm (10-Q) — 2607KB
• eex-ex31_1.htm (EX-31.1) — 13KB
• eex-ex31_2.htm (EX-31.2) — 13KB
• eex-ex32_1.htm (EX-32.1) — 13KB
• 0000950170-24-118542.txt ( ) — 11005KB
• eex-20240930.xsd (EX-101.SCH) — 1663KB
• eex-20240930_htm.xml (XML) — 1960KB

FINANCIAL INFORMATION

PART I. FINANCIAL INFORMATION 3 Item 1.

Financial Statements

Financial Statements 3 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 28 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 48 Item 4.

Controls and Procedures

Controls and Procedures 48

OTHER INFORMATION

PART II. OTHER INFORMATION 49 Item 1.

Legal Proceedings

Legal Proceedings 49 Item 1A.

Risk Factors

Risk Factors 49 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 49 Item 3. Defaults Upon Senior Securities 49 Item 4. Mine Safety Disclosures 49 Item 5. Other Information 49 Item 6. Exhibits 50 i CAUTIONARY NOTE REGARDING F ORWARD-LOOKING STATEMENTS This Quarterly Report on Form 10-Q 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 the trading price of our common stock on the New York Stock Exchange. Some of the factors that could cause

— FINANCI AL INFORMATION

PART I — FINANCI AL INFORMATION

Financi al Statements

Item 1. Financi al Statements Emerald Holding, Inc. Condensed Consolida ted Balance Sheets (unaudited) (dollars in millions, share data in thousands, except par value) September 30, 2024 December 31, 2023 Assets Current assets Cash and cash equivalents $ 188.9 $ 204.2 Trade and other receivables, net of allowances of $ 1.6 million and $ 1.4 million as of September 30, 2024 and December 31, 2023, respectively 86.4 85.2 Prepaid expenses and other current assets 37.0 21.5 Total current assets 312.3 310.9 Noncurrent assets Property and equipment, net 1.7 1.5 Intangible assets, net 162.2 175.1 Goodwill, net 573.4 553.9 Right-of-use lease assets 6.9 8.8 Other noncurrent assets 3.3 3.7 Total assets $ 1,059.8 $ 1,053.9 Liabilities, Redeemable Convertible Preferred Stock and Stockholders' Equity (Deficit) Current liabilities Accounts payable and other current liabilities $ 46.3 $ 46.6 Income tax payable — 0.2 Cancelled event liabilities 1.7 0.6 Deferred revenues 190.2 174.3 Contingent consideration 0.2 0.2 Right-of-use lease liabilities, current portion 3.9 4.0 Term loan, current portion 4.2 4.2 Total current liabilities 246.5 230.1 Noncurrent liabilities Term loan, net of discount and deferred financing fees 398.6 398.7 Deferred tax liabilities, net 5.7 3.1 Right-of-use lease liabilities, noncurrent portion 6.4 8.9 Other noncurrent liabilities 11.5 8.5 Total liabilities 668.7 649.3 Commitments and contingencies (Note 13) Redeemable convertible preferred stock 7% Series A Redeemable Convertible Participating Preferred stock, $ 0.01 par value; authorized shares at September 30, 2024 and December 31, 2023: 80,000 ; zero and 71,403 shares issued and outstanding; aggregate liquidation preference of zero and $ 492.6 million at September 30, 2024 and December 31, 2023, respectively — 497.1 Stock

View Full Filing

View this 10-Q filing on SEC EDGAR