Emerald Holding, Inc. · NYSE:EEX
Emerald — Q3 2022 Earnings Presentation
15 slides from Emerald's earnings presentation, Nov 3, 2022
Slide 1: Emerald Holding, Inc. Third Quarter 2022
Emerald Holding, Inc. Third Quarter 2022 November 3, 2022 Exhibit 99.2
Slide 2: Forward-Looking Statements
Notes Forward-Looking Statements This document contains certain forward-looking statements regarding Emerald Holding, Inc. (the “Company”), including, without limitation, the Company’s ability to continue staging live events and scale its business up to and beyond pre-COVID levels; the Company’s 202
Slide 3: Participants
Participants Hervé Sedky President and Chief Executive Officer David Doft Chief Financial Officer
Slide 4: Key 3Q 2022 Takeaways
Key 3Q 2022 Takeaways Event revenues are progressing toward, and in some cases exceeding, pre-pandemic levels, highlighting sustained demand for events; Emerald expects that almost one quarter of planned 2022 trade shows will exceed pre-pandemic revenues Trajectory of recovery on pace with forecast
Slide 5: Revolutionizing the Trade Show Model
Revolutionizing the Trade Show Model Integrating technology and first party data to create a next-generation B2B platform Connections (85% of YTD 2022 revenues(1)) – Collection of leading B2B trade shows and conferences that bring together industry-specific communities Emerald’s Core Services 140+ E
Slide 6: Enduring Value of Trade Shows
Enduring Value of Trade Shows (1) Source: CEIR, Omnichannel Marketing Insights Report 1 (https://www.tsnn.com/news/ceir-launches-optimistic-first-report-omnichannel-marketing-insights-series). (2) Source: Gartner, What Marketing Budgets Look Like in 2022 (https://www.gartner.com/en/articles/what-mar
Slide 7: Three Pillars of Value Creation
Three Pillars of Value Creation Emerald’s focus is on maximizing value of operations and expanding offerings Daily content and insights across 19 industries Scaled B2B Marketplace Increased Cadence of Online and Hybrid Events Emerald Xcelerator Targeted Accretive M&A 365-Day Engagement Holistic Cons
Slide 8: Acquisitions and New Event Launches Driving Portfolio Optimization
Acquisitions and New Event Launches Driving Portfolio Optimization Strategic expansion into high growth industries and categories Community platform for creating relationships across the mental health ecosystem Fosters connections between mental health innovators and corporate leaders seeking soluti
Slide 9: Year-to-Date 2022 Key Highlights
Year-to-Date 2022 Key Highlights 74 Trade Shows 282,000 Attendees 13,300 Exhibiting Companies Transaction closed June 2022 Premier global B2B event and thought leadership platform with a global presence Select 3Q 2022 Trade Shows Introduced new Emerald Xcelerator division in 2022 dedicated to launch
Slide 10: Year-to-Date 2022 Financial Highlights and Current Liquidity Position
10 Year-to-Date 2022 Financial Highlights and Current Liquidity Position Adj. EBITDA(1) Free Cash Flow(2) Net Income (Loss) Diluted Income (Loss) Per Share ($ in Millions) ($ in Millions) (1) See slide 14 of this presentation for a reconciliation of Net Income (Loss) to Adjusted EBITDA. (2) Excludes
Slide 11: COVID Recovery Driving Significant Re-Acceleration of Business
On average, revenue per event is progressing toward normalized levels 74 trade shows staged YTD through 9/30/2022, compared to 42 for the same period of 2021. Qualified attendees and exhibiting companies trending toward pre-COVID levels Several 2022 events have exceeded pre-COVID revenues 2021 marke
Slide 12: Conservative Balance Sheet and Strong Liquidity: Capital Structure
Common Shares Outstanding 67.6M Preferred Shares Liquidation Preference per Share as of Sept 30, 2022 $6.55 Initial Conversion Price / 3.52 Common Shares per Converted Preferred Share = 1.86 shares Convertible Preferred Shares Outstanding × 71.4M Additional Common Shares from Preferred Conversion =
Slide 13: Appendix
‘ Appendix @ EMERALD
Slide 14: Adjusted EBITDA Reconciliation
Adjusted EBITDA UNAUDITED RECONCILIATION OF NET INCOME (LOSS) TO ADJUSTED EBITDA For the nine months ended September 30, 2022 represents non-cash charges of $6.3 million for goodwill in connection with the Company’s interim testing of goodwill for impairment resulting from the change in operating se
Slide 15: Free Cash Flow Reconciliation
Free Cash Flow UNAUDITED RECONCILIATION OF NET CASH PROVIDED BY OPERATING ACTIVITIES TO FREE CASH FLOW (1) Includes Other items. Other items for the three months ended September 30, 2022 included: (i) $3.7 million in gains related to the remeasurement of contingent consideration; (ii) $0.6 million i