Emerald Holding, Inc., a public, live events company that is traded on the New York Stock Exchange, reported $398.8 million in revenue for 2024, a 4.2% increase compared with 2023, driven by organic growth and acquisitions while shedding unprofitable events, according to its Q4 2024 and full year results on March 14.  

Hervé Sedky, Emerald’s president and CEO, said, “2024 was a transformative year for Emerald––one where we took decisive actions to strategically optimize our portfolio of live B2B events with precision and purpose. Each step has laid the groundwork for a stronger, more resilient future, driven by a diversified business mix and a foundation for sustained growth and profitability.” 

On the heels of its financial results, Emerald announced on March 17 it will acquire This is Beyond, a London-based producer of seven business-to-business (B2B) events in the experiential and luxury travel industry. Expected to close in Q2, the acquisition aligns with Emerald's strategic plan to diversify and optimize its portfolio by targeting high-growth markets with leading brands. The company also acquired Insurtech Insights, an operator of large-scale insurance technology conferences across the U.S., Europe, and Asia.  

In an exclusive interview, we caught up with Sedky to find out more about the acquisitions and how Emerald is scaling up its operations in the UK. Read highlights below or listen to the full interview here. 

Related: Earnings: Emerald Reports Mixed Q3 Results Amid Strategic Changes   

5 Takeaways from Emerald’s Q4 and full-year 2024 results 

Here are five key takeaways from Emerald’s Q4 2024 and full-year 2024 earnings release for the trade show market: 

1. Revenue Growth and Portfolio Optimization. Organic revenues for 2024 grew 5.9%, reflecting a stronger core business despite external challenges. In Q4 2024, Emerald generated revenues of $106.8 million, compared with $101.5 million during Q4 2023. The 5.2% increase in quarterly revenue was driven primarily by organic revenue growth of $6.1 million and $4.8 million in revenue from acquisitions. 

2. Strategic Acquisitions Expand Market Reach. The company signed an agreement to acquire This is Beyond and completed the acquisition of Insurtech Insights for a combined $160 million, expanding into luxury travel and insurance technology events. Insurtech Insights operates three large-scale insurance technology conferences in New York, London, and Hong Kong for attendees who include insurance brokers and agents from the top insurers and solutions providers globally. These acquisitions strengthen Emerald’s presence in high-growth industries and further diversify its event portfolio. 

Related: Glamping Shows Americas Joins Emerald’s Expanding Sports and Outdoor Portfolio 

3. Profitability and Financial Strength Improve. Emerald posted a $2.2 million net income in 2024, reversing an $8.2 million net loss from 2023. Adjusted EBITDA rose 4% to $101.7 million, demonstrating improved operational efficiency. The company also closed the year with $194.8 million in cash. 

4. Strong 2025 Outlook with Higher Revenue and EBITDA Expectations. Emerald projects $450–$460 million in revenue and $120–$125 million in adjusted EBITDA for 2025, bolstered by recent acquisitions. This forecast underscores the company’s disciplined growth strategy and commitment to delivering value through live events.  

5. Growth Through Strategic Acquisitions and Launches. “Looking ahead, we remain committed to disciplined growth through strategic acquisitions and new event launches, positioning Emerald as the industry leader while creating lasting value for shareholders and the markets we serve,” Sedky said. 

What analysts are saying: “We presume that Emerald can be valued as if it is to be sold by controlling shareholder Onex into a consolidating, yet fragmented industry. We value the core events business at a 10.2x multiple that is at the low end of comparable deals and adjust for other smaller elements. We factor in the acquisitions and move ahead a year,” according to a report by Rosenblatt Securities Inc. On March 17. Rosenblatt indicated that Emerald is a stock to buy. 

Related: Earnings: Emerald Narrows Losses, Resumes Dividend Payments 

Deeper Dive into Deals 

This is Beyond Acquisition 

Context: Since its founding in 2009, This is Beyond has served the $1.3 trillion luxury travel market through its exclusive experiences that meet the rising demand for high-end travel. Known for its emphasis on sustainability, design, and premium brands, This is Beyond curates specialized events that connect elite travel designers, global tour operators, and in-house travel managers. 

What they’re saying: "Expanding into the luxury and experiential travel sectors aligns with our strategy of portfolio optimization and improving Emerald’s top-line growth,” said Sedky. "Entering this sector is an exciting opportunity for Emerald, and we are thrilled to welcome This is Beyond into our portfolio of world-class brands and events. By combining This is Beyond’s expertise with Emerald’s strengths in innovation, market leadership, and in-person experiences, we will elevate our offerings, reinforce our presence in high-value markets, and deliver exceptional ROI to our customers." 

How the acquisition came about:  Sedky told TSNN: “It was a proprietary find. Our head of M&A identified this prospect a couple of years back. As a good target for us that supported our strategy to expand in high growth sectors, we reached out to the founder. We engaged in conversations for a while, but given the size and scale of these assets, the founder decided to engage a banker and to go through a full competitive process.” 

Portfolio alignment: Sedky said: “Essentially, This is Beyond caters to the uber-luxury market segment, which is important to us. We already have some assets in luxury with Couture [an annual event for the designer fine jewelry and luxury timepiece market] being one of them. We really like that sector. Beyond a travel asset, it's even more so a luxury asset.  The customer base of This is Beyond is, in a large part, the top 1% of consumers, and those consumers are less impacted by economic volatility. So, for us, expanding that sector was important.” 

International strategy:  Emerald mostly produces events in the U.S. but recently began expanding internationally. “We started with an asset, Advertising Week, that had a small presence in the UK. We have a small office with some employees in the UK, and since then we've acquired Global Risk and Compliance. In both cases, [these companies] have assets in the U.S. and very big growth opportunity in the U.S., which is Emerald's primary market.  Although there's very little, if any, revenue in the UK, some of our biggest competitors are UK-based so it's a hub for the exhibitions industry. We decided that, following a successful large-scale acquisition in the UK, This is Beyond gives us this platform and the opportunity to build out a presence in the UK. So we go from having a few employees in the UK to having over a hundred employees in the UK. 

Looking ahead: "This is an incredibly exciting moment for This is Beyond. As a leader in the luxury travel event space, we've been fiercely independent since 2009, and I'm immensely proud of what we've built,” said This is Beyond Founder Serge Dive, who will join Emerald, along with all employees, when the acquisition closes. “Now, as we look to the next iteration of our growth, joining Emerald provides us with all the support we need to scale our vision and deliver even more exceptional experiences for our communities." 

The portfolio: This is Beyond events includes:  

• PURE Life Experiences - Marrakech, Morocco – 14th edition in September 2025. Focused on the high-end experiential travel sector.   
• LE Miami - Miami, Florida – 11th edition in May 2025. Focused on the high-end contemporary travel sector and catering to a creative end consumer base.  
• We Are Africa - Cape Town, South Africa – 10th edition in May 2025. A marketplace dedicated to the high-end African travel sector.   
• We Are Africa North America – Sundance, Utah – 6th edition in October 2025. Focused on supporting high-end travel from North America to Africa.  
• Further East - Bali, Indonesia – 6th edition in November 2025. An outbound travel show for the high-end APAC travel region.  
• Do Not Disturb – Borgo Egnazia, Italy – 4th edition in November 2024. Focused on private and exclusive travel experiences, such as private yachts, planes, and villas.   
• Specialists in Entertainment Travel - New Orleans, Louisiana – 4th edition in November 2025. A show addressing the fast-growing luxury entertainment travel sector. 

Insurtech Insights Acquisition 

Backstory: Founded in 2018, Insurtech Insights produces conferences across Europe, Asia, and the U.S., serving as a platform for networking, education, and innovation in insurance. The London-based company helps carriers, brokers, and startups leverage digital technology to improve efficiency, increase revenue, and navigate the industry's digital transformation.  

When and where they’re meeting: The 2025 events will take place March 19-20 in London, June 4-5 in New York, and December 3-4 in Hong Kong. 

Need to know: The acquisition marks Emerald’s entry into the insurance technology sector. 

How the deal came about: “This is another proprietary deal that we sourced and found a business in two excellent sectors—tech and insurance,” Sedky said. “We have a tech portfolio, and it's a very strong and well performing portfolio. So again, we're looking to continue to expand that. Insurtech Insights has events in London, New York and Hong Kong. If you think about those three markets, those are really the biggest and most prominent insurance markets around the world. Our events are located in real insurance hubs, which we also liked. Sedky told us that Emerald “has built out its own M&A database with assets we think we should own.” 

What they’re saying: “Since our first conference in 2018, our mission has been to empower insurance professionals with insights, inspiration, and network,” said Kristoffer Lundberg, CEO of Insurtech Insights. “We are incredibly proud to have become the largest insurance community globally, connecting more than 15,000 leaders across our three global conferences and reaching over 100,000 online.”