Author: ally

PPHC Announces Q1 2026 Financial Results

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Strong Revenue Growth Demonstrating Success of Company Strategy

  • Revenue growth of 27.5% with organic revenue growth of 5.1% compared to Q1 2025
  • Completed significant talent additions, and announced an acquisition which closed in Q2 2026
  • PPHC added to Russell 2000® and Russell 3000® Indices as of March 23, 2026
  • Net Debt reduced to $1.8 million following U.S. IPO

Adjusted EBITDA, Adjusted EBITDA margin, Adjusted EBITDA Incl. M&A expense, Adjusted net income, Adjusted EPS, fully diluted, Organic Revenue Growth and Adjusted Free Cash Flow, are non-GAAP financial measures, as defined and reconciled to the nearest related GAAP measure below.

Stewart Hall, CEO of PPHC, commented:

“PPHC delivered its strongest quarter to date for both revenue and Adjusted EBITDA, reflecting continued organic growth and the accelerating contribution from recent acquisitions. Our strategy remains focused on building a differentiated group of companies with complementary capabilities, expanded geographic reach, and strong intercompany synergies, while maintaining the financial flexibility to pursue additional M&A and strategic hires.

The U.S. listing has further increased PPHC’s visibility and strengthened our pipeline of opportunities, both for acquisitions and senior talent. In a complex political, regulatory, and reputational environment, clients are increasingly seeking integrated counsel across multiple spheres of influence, and we believe PPHC is uniquely positioned to meet that need. I want to thank our people across the Group for their continued commitment to our clients and to the long-term growth of PPHC.”

Roel Smits, CFO of PPHC, Commentary and Financial Guidance:

“With the completion of our January capital raise and U.S. IPO, PPHC has entered the next phase of growth from a position of strength. Our balance sheet flexibility allows us to pursue earnings-accretive acquisitions while our strong cashflow allows us to continue investing in organic growth initiatives. Momentum in Q4 and now also Q1 has set us up well for a successful 2026.

In general, PPHC expects to continue growing revenue at an average organic rate of approximately 5%, and that this will be supplemented by acquisitions. For 2026, we anticipate reported revenue in the range between $205 million and $209 million. While we continue to target Adjusted EBITDA at a margin around 25%, based on our current business mix and ambitions, in 2026 we will experience the impact from assuming U.S. public company costs and certain technology investments and therefore we anticipate Adjusted EBITDA in a range between $46 million and $48 million, reflecting an adjusted margin between 22% and 23%. The guidance above excludes the impact of any future acquisitions.

Our focus continues to be on driving client retention rates, new business generation, and the continued cross-selling of services across the member companies to support organic growth prospects, with each of these factors impacting our organic growth result.

The market for Strategic Communications services in key geographies remains fragmented. Management continues to view the Group as a natural consolidator, and the pipeline of acquisition opportunities under development in the U.S., U.K., and mainland Europe remains robust. The Group is actively seeking to expand its portfolio of member companies with strategically and financially attractive opportunities while adding complementary specializations.”

Operational Highlights

  • Significant progress in line with the Group’s stated growth strategy, with earnings accretive acquisitions providing an enhanced complementary range of services to the Group’s international client base:
    • Organically, the Group recorded 5.1% growth in revenue for Q1 2026 year-on-year which represents a step-up from the 4.7% growth in Q1 2025, attributable to increases across our three segments.
    • Announced the acquisition of WPI Strategy and made other significant hires across the group, expanding group-wide capabilities in Corporate Communications and providing cross-referral revenue opportunities.
    • Revenue remained diversified with the top 10 Group clients representing 8.0% of revenue in Q1 2026 versus 9.0% in Q1 2025; and revenue mix by segment was further diversified with the Corporate Communications & Public Affairs segment, our second largest reporting segment, growing to represent 36.5% of total revenue in Q1 2026 (Q1 2025: 25.5%).
    • The Group ended Q1 2026 with a client base of approximately 1,500, with representations of approximately a quarter of the Fortune 100 in addition to many more via trade associations, underlining that our retention rates remain high.

First Quarter 2026 Segment Results

  • Government Relations Consulting grew at 8.4% for Q1 2026, as compared to Q1 2025 as a consequence of continued organic growth of 5.2% in tandem with the acquisition of Pine Cove Strategies, LLC (“Pine Cove”) (2025 Q3). The margin of Segment Adjusted pre-bonus EBITDA remained relatively stable at 45.5%, reflecting the stable pricing of retainer contracts both at U.S. Federal and State level.
  • Corporate Communications & Public Affairs Consulting increased by 82.7% for Q1 2026, as compared to Q1 2025 as a consequence of continued strong organic growth of 3.3%, in tandem with the acquisition of TrailRunner International, LLC (“TrailRunner”) (2025 Q2). The margin of Segment Adjusted pre-bonus EBITDA increased significantly from 22.4% in Q1 2025 to 26.2% in Q1 2026, reflecting the operating leverage effects of realizing higher revenues, although still operating at margins that are lower than the Group’s average.
  • Compliance and Insights Services continued its strong growth at 10.8% for Q1 2026, as compared to Q1 2025 (reported and organic) as a result of high renewal rates, price increases, and new client wins, all together reflective of a unique and high value-added offering. The margin of Segment Adjusted pre-bonus EBITDA further improved to 50.2%, reflecting the strong pricing of subscription contracts in this area, in combination with the increased use of technology in servicing our clients.

The full press release is available on PPHC’s Investor Site.

PPHC Expands MultiState Associates’ Stakeholder Engagement Capabilities

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WASHINGTON, May 01, 2026 (GLOBE NEWSWIRE) — Public Policy Holding Company, Inc. (“PPHC” or “the Company”) (NASDAQ: PPHC), a leading global strategic communications provider, today announced that MultiState, a PPHC subsidiary providing state-level government relations, has hired Lee Cowen and Nicholas Evans, specialists in federal, state, and local government relations, through the acquisition of the assets of their respective management companies Cowen Consulting, LLC and Putnam Strategies, LLC. 

The acqui-hire additions significantly expand MultiState’s stakeholder engagement practice, which works with political organizations including governors’ associations (NGA, RGA, DGA), attorney general groups (NAAG, RAGA, DAGA), and other state-level (political and policy) organizations. With the addition of Lee Cowen and Nicholas Evans, MultiState’s dedicated stakeholder engagement team continues its growth, complementing a broader group of MultiState staff who engage in stakeholder work across their portfolios.

MultiState established its stakeholder engagement practice over the past three years under the leadership of Maggie Mick, who previously served as Chief Advancement Officer at the Council of State Governments. The hiring of Lee Cowen and Nicholas Evans accelerates the growth of the practice and positions the firm to better serve large clients who require sophisticated multistate strategies.

Lee Cowen and Nicholas Evans bring an established client roster of major national companies and organizations. They have built trusted relationships over decades in state government affairs, and their clients represent strong candidates for MultiState’s broader suite of services, including issue management and lobbying compliance.

Stewart Hall, CEO of PPHC, commented:

“MultiState has built something unique and distinctive in the state government affairs market, and stakeholder engagement is a natural extension of that offering. Lee and Nicholas are highly experienced and well-regarded professionals with strong client relationships, and we see real opportunity to offer those clients the full breadth of MultiState’s and PPHC’s capabilities.”

Joe Crosby, CEO of MultiState Associates, commented:

“Lee and Nicholas are exactly the kind of people anyone would want on their team. They have been incredibly successful on their own yet recognize the additional value we collectively will bring to our clients. We’ve made significant investments in building our Stakeholder Engagement practice, guided by Maggie Mick and supported by our deeply experienced team — making this the perfect time for Lee and Nicholas to join us. Several of us have known Lee and Nicholas for decades; they are genuinely good people and extraordinary professionals who will accelerate our growth.”

Lee Cowen, Founder of Cowen Consulting, commented:

“Nicholas and I are thrilled to be joining MultiState and the entire PPHC family. We have known the MultiState folks for decades, and we’re excited to be able to enhance their stakeholder engagement practice while also being able to offer our current – and future – clients more of the complimentary services provided by MultiState and the PPHC team. With increased focus on the state policy front, we became convinced that a more comprehensive suite of services – such as issues management, compliance, research, etc. – is necessary for businesses and associations as they work with state governments to achieve their policy goals. For Nicholas and me, MultiState was the obvious choice when looking for the right teammates.”

About MultiState Associates

MultiState Associates is a PPHC subsidiary providing state-level government relations, issue management, regulatory tracking, and lobbying compliance services. MultiState helps companies and trade associations navigate the multistate policy landscape through a combination of strategic advisory, technology-enabled monitoring, and direct stakeholder engagement.

Concordant Launches Regulatory and Political Due Diligence Practice for Investors and Deal Teams

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  • A purpose-built regulatory and political due diligence practice for the transaction community, delivering board-ready analysis for investors and deal teams evaluating transactions and market entry.
  • Provides a comprehensive, rigorous assessment of key regulatory, legislative, and political risks to valuation, closing, and long-term viability of transactions.
  • Backed by PPHC’s 11 specialized firms, providing access to one of the largest federal lobbying practices in Washington alongside the country’s broadest state-level government affairs coverage.
  • Led by Trevor Hanger, a capital markets and merger arbitrage veteran, and Max Mandich, a former House policy adviser.

WASHINGTON, April 29, 2026 (GLOBE NEWSWIRE) — Public Policy Holding Company, Inc. (“PPHC” or “the Company”) (Nasdaq: PPHC), a leading global strategic communications provider, today announced that its Concordant Advisory subsidiary is expanding into regulatory and political due diligence, delivering board-ready diligence reports for investors, deal teams, and corporates evaluating high-stakes transactions and market entry.

Concordant draws on PPHC’s depth of policy expertise – tapping more than 150 experienced policy experts and registered lobbyists, as well as the largest broker of state-level lobbying services in the country, with engagements and legislative tracking in all 50 U.S. states. Concordant provides deal teams with direct access to this expertise to deliver diligence reports that assess whether regulatory, legislative, or political risk could alter valuation assumptions, delay or prevent closing, or change the long-term viability of a business model. Engagements cover federal and state regulatory landscape analysis, stakeholder mapping, and actionable mitigation strategies.

The due diligence practice will be led by Trevor Hanger and Max Mandich, who bring complementary experience spanning capital markets, regulatory advisory, and policy analysis.

Trevor Hanger is a Partner at FTP, a PPHC member company, where he specializes in capital markets issues, alternative assets, and multi-sector transaction and portfolio company due diligence. Prior to joining FTP, Hanger served as COO and Director of Research at a boutique investment bank in Washington, D.C., where he managed the firm’s policy research, strategic consulting, and investment banking divisions and led teams advising institutional and private equity clients on corporate and investment strategy. He also has nearly a decade of experience as a merger arbitrage trader and Head of Policy on the buy side.

Max Mandich joins as Senior Director of Insights with extensive experience advising corporate and investor clients on U.S. policy and regulation within the financial services sector, including issues relevant to fintech and digital assets. He previously served as a senior associate at Global Counsel, where he analyzed US policy within the financial services sector for both corporate and investor clients. Prior to that, he served as a policy adviser to a Member of the US House of Representatives, handling financial services policy and economic issues.

Stewart Hall, CEO of PPHC commented:

“Our clients and their advisors have told us for years that they need a better way to underwrite political and regulatory risk in transactions. We believe PPHC has the deepest bench of policy expertise in the industry, and Concordant is how we put that expertise to work for the deal community. This is a focused, repeatable product backed by federal and state practitioners who are actively shaping the policy landscape our clients are trying to navigate.”

Trevor Hanger, Partner at FTP commented:

“Investors are making billion-dollar decisions with incomplete pictures of the regulatory landscape. Having spent years on the capital markets side advising institutional and private equity clients, I know what deal teams actually need — and it’s not a policy briefing, it’s an investment-grade assessment of current and future regulatory risk that they can take to their investment committee. That’s what Concordant delivers.”

Max Mandich, Senior Director of Concordant commented:

“The market for regulatory and political diligence is growing, and investors are increasingly looking for deeper insight. Concordant is built differently. When we staff an engagement, we’re not just sending researchers to read the public record. We’re bringing in the people who many times helped write the regulations, lobbied for the amendments, and understand the political environment. That is a fundamentally different product.”

Concordant Advisory is a subsidiary of PPHC. For more information, visit concordantadvisory.com.

PPHC Appoints Chief Administrative Officer

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Public Policy Holding Company, Inc., (Nasdaq: PPHC) (AIM: PPHC), a leading global strategic communications provider, offering a comprehensive range of advisory services in the areas of government relations, public affairs, and corporate communications, announces the appointment of Matthew Mazzanti as Chief Administrative Officer (“CAO”), effective 20 March 2026.  

Matthew is promoted from his current position, where he has led the Group’s corporate communications and investor relations functions and supported corporate development activities. He has played a central role in a broad range of PPHC initiatives, including providing support to the senior leadership team and member firm leadership.

As CAO, Matthew will continue to report directly to Stewart Hall, Chief Executive Officer. He will maintain his existing responsibilities while taking on broader responsibility for supporting the execution of the Company’s strategic priorities, strengthening coordination throughout the holding company, and driving operational efficiency across the platform.

Matthew joined Crossroads Strategies, one of the Group’s founding member firms, seven years ago before progressing to a cross-functional position with PPHC. He was involved in the Company’s AIM IPO in 2021 and played a key role in the recent listing on the Nasdaq Global Market.

The position of Chief Administrative Officer has been vacant since the retirement of Bill Chess in July 2024.

Stewart Hall, CEO of PPHC, commented:

“As PPHC continues to expand globally and enhance its suite of services and portfolio companies, the CAO position is increasingly important for the Company. Matthew has played critical roles going back to our AIM listing over four years ago in investor relations, intercompany relations, talent management, M&A, and business development. His knowledge of each of our member companies, their services and people is unmatched, and I am pleased to elevate him to the position with the Board’s approval. Filling the CAO position will allow us to continue to drive intercompany synergies and support our number one asset – our talented and skilled practitioners across the globe.”

Lucas Public Affairs Celebrates 20 Years of Helping Clients Win

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SACRAMENTO, CA — Lucas Public Affairs (LPA), a leading California public affairs firm, this week celebrates its 20th anniversary, marking two decades of guiding high-stakes campaigns, advancing public policy initiatives and delivering strategic counsel – and wins – to clients throughout the state.

Founded in 2006 by Chief Executive Officer Donna Lucas, the Sacramento-based, women-led firm has grown into one of California’s most respected public affairs practices, advising a wide array of corporate, nonprofit, and public entity clients, including climate, energy, insurance, education, tourism, transportation, state and local government and nonprofit organizations.

Led by Lucas and President Cassandra Pye, veterans of gubernatorial administrations and long-time leaders in Capitol politics and policy, LPA has built a talented team respected for top-tier strategy, bipartisan credibility and deep relationships across California’s political and legislative landscape.

“The fact that we’re celebrating 20 years is more than a reflection of our work, it’s emblematic of our relationships with clients, colleagues and partners who have supported us along the way,” said Lucas. “We’ve had the opportunity to work on consequential issues that have made our state stronger and bolstered its success, and I’m deeply grateful to all those who have worked with us and trusted us to help them succeed.”

Read the full press release from LPA.

PPHC Expands Strategic Advisory Platform with Appointment of TrailRunner Sports President

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WASHINGTON, Mar. 18, 2026 (GLOBE NEWSWIRE) — Public Policy Holding Company, Inc. (“PPHC” or “the Company”) (Nasdaq: PPHC), a leading global provider of strategic communications services, today announced that TrailRunner International (“TrailRunner”), one of the Company’s member firms, has named Alden Mitchell as President of TrailRunner Sports, its global sports advisory business.

The appointment reflects PPHC’s continued investment in high-value growth areas across its platform. As the global sports industry grows in scale and institutional complexity, leagues, teams, ownership groups, universities, and brands increasingly require the same strategic communications and advisory capabilities that PPHC’s member firms deliver across corporate reputation, financial communications, crisis, and strategic advisory services.

TrailRunner Sports was established in 2023 to meet this demand. Since launch, the business has built a client roster spanning major professional teams in the United States and abroad, sports teams, universities, collegiate conferences, and brands. A joint venture with Legends, the global premium experiences company, TrailRunner Sports advises on crisis and reputation management, league expansions, media rights negotiations, litigation communications, and other significant transactions. The appointment of a dedicated President signals the next phase of investment in the platform as client demand continues to grow.

Mitchell joins from Stanford Athletics, where she served as Chief Operating Officer and Interim Athletics Director, overseeing capital projects, external relations, facilities and operations, finance, human resources, and revenue-generating initiatives. As Interim Athletics Director, she led the organization through a period of competitive and commercial success while driving fundraising growth, strengthening partnerships, and enhancing financial discipline.

Previously, Mitchell led Uber’s Consumer Business Development team from 2021 to 2024, spearheading strategic partnerships with the NFL, Live Nation, Marriott, Instacart, and others. Earlier in her career, she served as Senior Vice President of Distribution at the Pac-12 Networks and as Head of Global Partnerships and Content Strategy at Crunchyroll, the global anime streaming platform. She brings more than two decades of senior leadership experience across sports, media, and technology.

Mitchell joins a strong and growing team of sports leaders at TrailRunner, including Jamie Zaninovich, who will serve as Vice Chair of TrailRunner Sports, partnering closely with Mitchell. Mitchell will report directly to Jim Wilkinson, Founder and Executive Chairman of TrailRunner International.

Zaninovich, who has helped launch TrailRunner’s sports business and brings three decades of experience across collegiate athletics and conference leadership, will focus on strategy and business development in his role as Vice Chair of TrailRunner Sports. He will continue to advise select clients and focus on strategic growth initiatives in partnership with Mitchell.

Stewart Hall, Chief Executive Officer of PPHC, commented:

“This is another strong example of PPHC investing behind differentiated leadership and high-value growth opportunities across our platform. TrailRunner has added important strategic and financial communications capabilities to the Group, and TrailRunner Sports extends that model into one of the most dynamic and increasingly institutionalized sectors of the global economy. Alden’s appointment strengthens an already promising business and positions it for continued growth.”

Jim Wilkinson, Founder and Executive Chairman of TrailRunner International, commented:

“The business of sports is more exciting, complex, and consequential than ever before. Alden is exactly the kind of leader we need to take this rapidly growing platform to the next level. Sports is now a major global asset class. Ownership is shifting, capital is pouring in, college athletics is being remade, women’s sports is accelerating, and media and technology are changing the way fans connect to the games they love. Alden has the experience, passion, and competitive drive to capitalize on these tremendous opportunities and help our clients win.”

Alden Mitchell commented:

“TrailRunner has built something special — a team that understands both the business and the heartbeat of sports and is determined to go above and beyond for clients and each other. The sports landscape is evolving rapidly, and the opportunity to scale a best-in-class advisory business that delivers measurable impact for clients around the world is incredibly energizing. I can’t wait to partner with Jamie and this outstanding team and get to work.”

City & State Highlights MultiState’s Denisse Girón in the 2026 Albany 40 Under 40

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Denisse Girón, Assistant Vice President at PPHC firm MultiState, has been highlighted by City & State in the organization’s annual Albany 40 Under 40 list.

The Albany 40 Under 40 list recognizes 40 individuals under the age of 40 who are rising stars in state politics and government. City & State receives hundreds of nominations for this prestigious list, and only a select few make the cut.

Denisse Girón was first introduced to local politics by her mother who helped plan an annual Central American parade on Long Island.

Girón and her family, who emigrated from Costa Rica, attended public hearings to secure funding and met Nassau County elected officials and took photos with them at the parade every year.

“It was really important for my mom to teach us about our culture,” Girón says. “Being a young Latino on Long Island, it’s hard to stay away from politics.”

Girón attended Hofstra University, where she saw Barack Obama, Mitt Romney, Donald Trump and Hillary Rodham Clinton at two presidential debates on campus. But her interest in politics grew out of her volunteer work with Planned Parenthood and a fellowship at Make the Road New York.

Read Girón’s full profile from City & State.

KP Public Affairs Celebrates 30-Year Anniversary with Third Generation Leadership

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SACRAMENTO, CA – PPHC firm KP Public Affairs is excited to celebrate its 30-year anniversary and announce its third generation leadership with a new management team.  

As one of the longest standing and consistently effective advocacy and public affairs firms in California, KP’s work continues to expand in all practice areas including legislative and regulatory advocacy, policy consulting, public relations, and procurement.  

The firm’s new management team will be led by Alison MacLeod, John Doherty, and Brian White, and will oversee day to day operations alongside partners Jon Ross, Ed Manning, Mike Burns, Jeff Sickenger, Jenny Dudikoff, Vanessa Cajina, Patrick George, and Pat Joyce. 

KP began in the mid-1990’s by combining two firms to create the largest lobbying firm in the state with clients that represented every major industry and local government sector in California. KP has evolved over the last three decades to become a full-service, integrated public affairs firm with a comprehensive public relations and regulatory consulting practice. Throughout this growth, the company has maintained a boutique feel with the highest level of service and dedication to client success. 

“We are focused on delivering client successes today, while positioning the firm for future growth with continuous expansion of our expertise and capabilities. KP has a strong foundation of clients across industry sectors and interest areas, and we have a highly talented team of professionals that are working every day to meet our clients’ goals,” said Alison MacLeod, John Doherty, and Brian White. 

Read the full story from KP Public Affairs.

Seven Letter Expands Nationwide – New Offices and Experts in Los Angeles, New York City, and Huntsville   

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Firm’s growth provides clients coast-to-coast advantages and sector-specific strengths, bolsters strategic digital capacities   

  • Seven Letter launches three new offices in LA, NYC, and Huntsville, Alabama   

  • Brandon Shaw, former Comms VP for Disney and Hulu, entertainment industry expert, will be named Seven Letter partner based in LA  

  • Longtime Seven Letter team member Holly Jackson to open Huntsville office serving defense and aerospace sectors  

  • Marley Hambourger adds NYC office and strengthens digital advertising offering   

WASHINGTON, DC – (January 8, 2026) – Seven Letter, an expertise-powered bipartisan strategic communications firm, today announced a major geographic expansion involving the addition of three new offices – Los Angeles, New York, and Huntsville – to bolster its growing nationwide offerings and emerging specialized practices. This development includes the addition of senior-level counselors to open the new offices and support the expansion.   

“Seven Letter isn’t just growing geographically, but strategically,” said Erik Smith, CEO and Founder. “This expansion allows us to be closer to the industries that are driving our growth. We have always emphasized providing senior-level counsel at every step – and now we can do so across more sectors and in more geographies. I’m excited about what’s to come for our clients and our team.”   

Read the full announcement from Seven Letter.