Public Policy Holding Co Reports Record Q1 Adjusted EBITDA and Guides 2026 Revenue to $205M–$209M

Higher listing and technology costs will keep margins below the long‑term goal.

Overview

Public Policy Holding Co said first‑quarter revenue rose 27.5% to $50.1 million, including 5.1% organic growth.
The company posted record adjusted EBITDA of $11.2 million but reported a GAAP net loss of $11.5 million.
Management guided full‑year revenue to $205 million to $209 million and said adjusted EBITDA margins will stay below the 25% target because of public‑company and technology expenses and a shifting business mix.
PPHC completed the acquisition of London-based WPI Strategy to broaden its U.K. footprint and create cross‑selling opportunities.
Revenue resilience remains high with 92.8% from retainers and no client over 2% of sales, and the newly U.S.-listed stock was added to the Russell 2000 and 3000 indexes.