Financial Data and Key Metrics Changes - Total revenue for Q2 2025 was $105.5 million, up from $86 million in the prior year quarter, reflecting strong year-over-year growth [18] - Adjusted EBITDA increased by 59.5% to $24.4 million compared to $15.3 million in the prior year, resulting in an adjusted EBITDA margin of approximately 23.1% [19][20] - Reported organic revenue was up 0.4% year-over-year, but on a pro forma basis, organic growth would have been approximately 5% [18][19] Business Line Data and Key Metrics Changes - The connections business drove growth, while event mix and softness in content impacted overall performance [18][19] - Acquisitions contributed significantly, adding $24 million in revenue for the quarter, with expectations for continued contributions in the second half of the year [44] Market Data and Key Metrics Changes - International exhibitors accounted for approximately 10% of total revenue, with 99% of the full year international revenue target already secured [11][12] - Encouraging activity was noted in markets like Italy, Germany, and Brazil, helping to offset softness in China and Canada [12] Company Strategy and Development Direction - The company is focused on customer centricity, year-round engagement, and portfolio optimization, with targeted acquisitions in high-growth verticals [14] - Recent acquisitions, such as This Is Beyond and InsurTech Insights, are advancing strategic priorities and contributing to growth [15][17] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the resilience of live events, emphasizing their importance in driving measurable impact and trust [13] - The company reaffirmed its full-year guidance of $450 million to $460 million in revenue and $120 million to $125 million in adjusted EBITDA [25][26] Other Important Information - The company repurchased approximately 1.6 million shares for $6.9 million under its buyback program, demonstrating management's conviction in long-term value [23][24] - A quarterly dividend of $0.15 per share was declared, reflecting a commitment to shareholder returns [25] Q&A Session Summary Question: Will the third quarter see a decline in organic growth year-over-year? - Management confirmed that the third quarter is expected to show negative organic growth due to event mix and construction impacts at the Las Vegas Convention Center [30] Question: What is the expected contribution from recent acquisitions for the remainder of the year? - Management indicated that both This Is Beyond and InsurTech Insights have events scheduled in the second half of the year, contributing to revenue [34] Question: How significant is the macroeconomic impact on the business? - Management characterized the macroeconomic impact as small overall, with some headwinds in specific regions but positive performance in others [36][37] Question: Can you provide details on the GRC World acquisition? - Management confirmed that GRC World is a smaller acquisition focused on global risk and compliance, included for pro forma comparisons [42][43] Question: What is the current booking status for 2025 and 2026? - Management stated that 90% of revenue for 2025 is booked, with positive rebooking rates for 2026, indicating strong customer confidence [46]

Financial Data and Key Metrics Changes - Total revenue for the first quarter was $147.7 million, up from $133.4 million in the prior year, reflecting a year-over-year increase of 10.1% [16] - Organic revenue increased by 5.6% year-over-year to $139.2 million, driven by strong growth in the connections business, which improved by 6.6% [16] - Adjusted EBITDA for the first quarter was $53.6 million, compared to $39.8 million in the prior year, marking an increase of 34.7% [16][17] - Adjusted EBITDA margin for the quarter was approximately 36.3% [17] - Free cash flow generated was $10.8 million, up from $3.8 million in the prior year [17] Business Line Data and Key Metrics Changes - The connections business showed strong organic revenue growth, contributing to the overall increase in total revenue [16] - The acquisition of InsurTech Insights positively impacted adjusted EBITDA and revenue recognition for the quarter [16][42] Market Data and Key Metrics Changes - The company has sold over 90% of its full-year revenue target from international exhibitors, with notable strength from Turkey, Brazil, and the UAE, despite pressures from China and Canada [9][10] - Approximately 10% of total revenue is generated from international exhibitors, with China and Canada each contributing about 2% [10] Company Strategy and Development Direction - The company is focused on portfolio optimization, reducing reliance on slower growth verticals, and enhancing resilience across market cycles [6][12] - A strategic focus on face-to-face engagement aligns with ongoing portfolio optimization efforts, positioning the company for stable performance across cycles [12] - The company received regulatory approval for the acquisition of This Is Beyond, which is expected to complement its portfolio and align with consumer trends [12][13] - The M&A strategy is centered on expanding into high-growth sectors while diversifying the portfolio to drive long-term shareholder value [14] Management Comments on Operating Environment and Future Outlook - Management remains confident in achieving full-year 2025 guidance of $450 million to $460 million in revenue and $120 million to $125 million in adjusted EBITDA [24] - The company is proactively monitoring external factors, including trade tensions and consumer sentiment, to adapt to market dynamics [8][24] - Management emphasized the importance of face-to-face events in the current economic environment, highlighting their role in decision-making and commerce [11] Other Important Information - The company has a strong balance sheet with $276.8 million in cash as of March 31, 2025, and total liquidity of $386.8 million [19][20] - The Board approved a quarterly dividend of $0.15 per share and reauthorized a share buyback program with an additional $25 million allocated [21][20] Q&A Session Summary Question: Update on international attendance and guidance - Management reiterated guidance based on current observations, noting declines in international attendance from China and Canada, but increased sales from other countries [27][32] Question: Impact of InsurTech on EBITDA and future events - InsurTech contributed to EBITDA in the first quarter, with two more events scheduled for June and the fourth quarter [41][43] Question: Seasonal differences in revenue across quarters - The first quarter is expected to contribute about one-third of the annual revenue, with Q2 and Q3 being smaller quarters [49] Question: Expense discipline and efficiency improvements - The company is focusing on consolidating operations onto a single platform and utilizing AI to enhance efficiency [54][56]

Financial Data and Key Metrics Changes - Total revenue for Q1 2025 was $147.7 million, up from $133.4 million in the prior year, reflecting a year-over-year increase of approximately 10.3% [16] - Organic revenue increased by 5.6% year-over-year to $139.2 million, driven by strong growth in the connections business, which improved by 6.6% [16] - Adjusted EBITDA for Q1 2025 was $53.6 million, compared to $39.8 million in the prior year, marking an increase of 34.7% [16] - The adjusted EBITDA margin for the quarter was approximately 36.3% [17] Business Line Data and Key Metrics Changes - The connections business showed strong organic revenue growth, contributing significantly to the overall revenue increase [16] - The InsurTech Insights acquisition positively impacted adjusted EBITDA and revenue recognition for the quarter [16][42] Market Data and Key Metrics Changes - Approximately 10% of total revenue is generated from international exhibitors, with China and Canada each contributing about 2% and Mexico less than 1% [10] - Sales efforts in China and Canada faced pressure, while countries like Turkey, Brazil, and the UAE showed strength in sales growth [8][10] Company Strategy and Development Direction - The company is focused on portfolio optimization, reducing reliance on slower growth verticals, and enhancing resilience across market cycles [6] - A strategic emphasis on face-to-face engagement aligns with ongoing portfolio optimization efforts, targeting high-growth sectors such as design and construction, food, technology, and luxury travel [12] - The company plans to close the acquisition of This Is Beyond, which aligns with consumer trends for premium experiences [12] Management's Comments on Operating Environment and Future Outlook - Management remains confident in achieving full-year 2025 guidance of $450 million to $460 million in revenue and $120 million to $125 million in adjusted EBITDA [23] - The company is proactively monitoring external factors, including trade tensions and consumer sentiment, to adapt its strategies accordingly [7][23] Other Important Information - The company had $276.8 million in cash as of March 31, 2025, up from $194.8 million at the end of 2024, supporting future acquisitions and investments [19] - A share buyback program was reauthorized with an additional $25 million allocated, reflecting management's confidence in the long-term value of the stock [20][21] Q&A Session Summary Question: Update on guidance considering trade war impacts - Management reiterated guidance based on current observations, noting that international revenues from China and Canada are expected to decline, but sales from other countries are increasing [26][28][31] Question: Impact of InsurTech on EBITDA - InsurTech contributed positively to EBITDA in Q1, with revenue recognized from the event held during the quarter [41][42] Question: Seasonality of revenue across quarters - Q1 is expected to contribute about one-third of annual revenue, with Q2 and Q3 being smaller quarters due to the mix of events [48][49] Question: Future expense discipline - The company is focusing on consolidating operations onto a single platform to find efficiencies and is testing AI applications to improve operational effectiveness [55][56]