Emerald Holding, Inc. Q1 FY2024 earnings call

• Focus on customer centricity to improve experience, add services, and provide better ROI. - Emphasis on 365-day engagement through trade shows, conferences, webinars, etc. - Portfolio optimization via acquisitions and new event launches. - Completed conversion of all convertible preferred shares, simplifying capital structure. - Welcomed new General Counsel Sarah Altschul.

In the first quarter of 2024, the connection segment had organic revenue of $118.6 million, an increase of $13.6 million or 13% compared to the prior year period. The content business, which faced advertising budget pressure last year, is showing signs of stabilization, with the Small Business Exchange having over 400,000 subscribers since launch. The commerce business saw Elastic Suite expand into new categories like kitchen and bath, and Bulletin platform gaining traction powering New York Now Online.

• Reaffirmed full-year 2024 guidance: revenue $415 million to $425 million, adjusted EBITDA $110 million to $115 million. - Adjusted EBITDA margin expected to be ~27% with a 300 basis point drag from growth investments.

• Visa processing issues affecting international participation in events, with industry efforts ongoing to lobby for modernization and pre-pandemic levels of visa operations.

Q: Talk about new verticals added in commerce and Bulletin's traction?

A: Elastic expanded into kitchen and bath, doubling addressable market, with large brands signed. Bulletin is scaling, started with New York Now in home space, aiming to scale across other categories.

Q: Progress on 365-day engagement?

A: Tracking well with content and commerce businesses complementing events to offer 365-platform, focusing on creating value for customers.

Q: Feedback on matching technology at trade shows?

A: Using matchmaking and lead sharing tools at all trade shows, with higher net promoter scores and loyalty from customers using these tools.