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Investor releaseQuarter not tagged2026-08-14Venu Q2 Earnings Call Highlights
MarketBeat
Venu Q2 Earnings Call Highlights
Interested in Venu Holding Corporation? Here are five stocks we like better. Venu’s assets rose 38% to $511.8 million as of June 30, while six-month revenue increased 7% year over year to $8.5 million. Cumulative Luxe FireSuite and Aikman Club sales exceeded $278 million. The company identified a potential path to more than $150 million in non-dilutive C-PACE financing for its Broken Arrow, Oklahoma, and McKinney, Texas, venues, supported by bridge loans to keep construction moving. Venu expects Broken Arrow to open in roughly 90 days and McKinney in March, with the first six venues projected to generate $125 million to $130 million in stabilized operating EBITDA. Management expects to reach profitability in the second or early third quarter of 2027. Venu (NYSEAMERICAN:VENU) reported higher assets, property and equipment, and FireSuite sales during its fiscal second quarter, as the live-entertainment venue developer continued construction on projects in Oklahoma and Texas and outlined its expected path toward profitability in 2027. The company said total assets reached $511.8 million as of June 30, up $141.2 million, or 38%, from $370.5 million at the end of 2025. Property and equipment increased 46% to $446.2 million. → Lumentum Just Delivered the AI Growth Investors Wanted For the six months ended June 30, Venu reported revenue of $8.5 million, compared with $8 million in the corresponding period a year earlier, representing a 7% increase. Founder, Chairman and CEO J.W. Roth said the company made progress across its development portfolio during the quarter, including an announced expansion into Chattanooga, Tennessee, at The Bend, a site located along the Tennessee River. Venu is also in discussions regarding a potential destination in Northern Colorado. → Ryman Checks Into a $1.38B Hospitality Upgrade Roth said the company is in conversations with more than 45 municipalities regarding potential Venu developments, though he noted that the company does not expect to advance every discussion. Venu also announced Regent Bank as naming-rights partner for its amphitheater outside Tulsa, Oklahoma. Roth described the agreement as a multiyear, multimillion-dollar partnership expected to add high-margin revenue. The company also engaged Legends Global to operate Regent Bank Amphitheater and added Ron Bension as a strategic advisor. → Joby’s Defense Pivot Accelerate…Read full documentShow less
Interested in Venu Holding Corporation? Here are five stocks we like better. Venu’s assets rose 38% to $511.8 million as of June 30, while six-month revenue increased 7% year over year to $8.5 million. Cumulative Luxe FireSuite and Aikman Club sales exceeded $278 million. The company identified a potential path to more than $150 million in non-dilutive C-PACE financing for its Broken Arrow, Oklahoma, and McKinney, Texas, venues, supported by bridge loans to keep construction moving. Venu expects Broken Arrow to open in roughly 90 days and McKinney in March, with the first six venues projected to generate $125 million to $130 million in stabilized operating EBITDA. Management expects to reach profitability in the second or early third quarter of 2027. Venu (NYSEAMERICAN:VENU) reported higher assets, property and equipment, and FireSuite sales during its fiscal second quarter, as the live-entertainment venue developer continued construction on projects in Oklahoma and Texas and outlined its expected path toward profitability in 2027. The company said total assets reached $511.8 million as of June 30, up $141.2 million, or 38%, from $370.5 million at the end of 2025. Property and equipment increased 46% to $446.2 million. → Lumentum Just Delivered the AI Growth Investors Wanted For the six months ended June 30, Venu reported revenue of $8.5 million, compared with $8 million in the corresponding period a year earlier, representing a 7% increase. Founder, Chairman and CEO J.W. Roth said the company made progress across its development portfolio during the quarter, including an announced expansion into Chattanooga, Tennessee, at The Bend, a site located along the Tennessee River. Venu is also in discussions regarding a potential destination in Northern Colorado. → Ryman Checks Into a $1.38B Hospitality Upgrade Roth said the company is in conversations with more than 45 municipalities regarding potential Venu developments, though he noted that the company does not expect to advance every discussion. Venu also announced Regent Bank as naming-rights partner for its amphitheater outside Tulsa, Oklahoma. Roth described the agreement as a multiyear, multimillion-dollar partnership expected to add high-margin revenue. The company also engaged Legends Global to operate Regent Bank Amphitheater and added Ron Bension as a strategic advisor. → Joby’s Defense Pivot Accelerates With $500M Resonant Sciences Deal The company joined the Russell 3000 and Russell 2000 indexes during the quarter, a move Roth said expands its visibility among institutional investors. Since the end of the quarter, Venu identified a potential path to more than $150 million in C-PACE financing for its Broken Arrow, Oklahoma, and McKinney, Texas, projects. Roth said the financing is expected to cover the remaining construction balances for both developments. He described C-PACE as non-dilutive, long-term, fixed-rate capital secured through a property-tax assessment rather than a lien on corporate assets. The financing is expected to be funded in tranches, with the timing tied to the projects’ openings. Venu also arranged two bridge loans, including one from Ryan LLC, which Roth said would allow construction to continue before permanent C-PACE financing closes. The bridge loans are structured to be repaid with C-PACE proceeds, according to Roth. “Together, this gives us a financing stack that is projected to carry both venues through completion,” Roth said. Chief Financial Officer Heather Atkinson said Luxe FireSuite and Aikman Club sales exceeded $278 million cumulatively as of June 30 across existing and in-development venues. The company recorded approximately $30 million in Luxe FireSuite sales during the quarter, with its triple-net model accounting for about 76% of those sales. Roth said FireSuite sales had surpassed $285 million as of the earnings call date. He also cited outside coverage pointing to consumers’ increased spending on experiences and recurring access, which he said supported the company’s FireSuite model. Atkinson said net tangible assets equaled $4.44 per common share under the company’s reported balance-sheet basis. She said contributed municipal real estate is carried at a zero cost basis rather than market value. On a mark-to-market basis, the company estimated net tangible assets at $9.58 per share as of June 30, while estimating an as-completed portfolio value of $1.24 billion, or $17.44 per share in net tangible assets. Roth said Venu expects Broken Arrow to open in roughly 90 days. The company has begun booking the venue, with more than 25 holds and available dates on the calendar, he said. Roth projected approximately $22 million in first-year EBITDA for the venue, rising to roughly $25 million at stabilization. McKinney is anticipated to be completed in March, according to Roth. He said the venue has roughly 20 to 25 holds and available dates and is projected to generate $38 million to $39 million in EBITDA in its first year, increasing to approximately $45 million to $46 million at stabilization. Roth said Venu expects its first six venues, including Ford Amphitheater in Colorado Springs, to generate total operating EBITDA of approximately $125 million to $130 million once fully developed. He projected that the company could reach profitability during the second or early third quarter of 2027 and said Venu may be able to provide financial guidance around March 2027 based on its bookings. The CEO acknowledged that losses through the current period and the next several quarters are expected as Venu funds construction and pre-opening expenses. He said the company expects to bring approximately $600 million in assets online between now and the first quarter of 2027. For The Hall at Centennial, Roth said Venu still targets 80 to 100 events annually. The venue is expected to host approximately 2,500-capacity programming as well as comedy, theater and other events. Venu Holding Corporation is a premier hospitality and live music company dedicated to crafting luxury, experience-driven entertainment destinations. Venu Holding Corporation is based in COLORADO SPRINGS, Colo. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Venu Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.
Investor releaseQuarter not tagged2026-08-13Venu Holding Corporation Reports Second Quarter Fiscal 2026 Financial Results
Business Wire
Venu Holding Corporation Reports Second Quarter Fiscal 2026 Financial Results
Total Assets Increased $141.2 million to $511.8 million, Up 38% from Year-End 2025 COLORADO SPRINGS, Colo., August 13, 2026--(BUSINESS WIRE)--Venu Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), owner, operator, and developer of premium live entertainment destinations, today announced results for its second quarter and six-month period ended June 30, 2026. "This quarter reflected steady, deliberate progress across our business," said J.W. Roth, Founder, Chairman, and Chief Executive Officer of VENU. "We announced our expansion plans into Chattanooga and are in active discussions on a new destination in Northern Colorado, adding to a pipeline of more than 45 municipal conversations. Regent Bank signed on as the official naming rights partner for our state-of-the-art amphitheater outside of Tulsa, Oklahoma a multi-year, multi-million-dollar agreement that adds long-term, high-margin revenue directly to our bottom line, and finishing the quarter we were added to the Russell 3000® and Russell 2000® indices. Since quarter end, we've also sharpened how we finance venues to completion, as we aim to move away from sale-leaseback to C-PACE financing, which keeps our real estate on the balance sheet and minimizes shareholder dilution, bridged by a short-term loan with Ryan LLC and a debenture financing that are both structured to be retired after C-PACE closes. Our attention is squarely on the finish line at Regent Bank Amphitheater, which opens this fall with bookings, offers, and shows in progress. Sunset Amphitheater McKinney is right behind it, where construction continues to move rapidly. We look forward to sharing more in the weeks ahead." Financial Highlights for the Second Quarter of 2026 and the Six-Month Period Ended June 30, 2026 Total assets increased to $511.8 million as of June 30, 2026, up $141.2 million or 38% from $370.5 million at December 31, 2025, which resulted in $4.44 per common share in net tangible assets(1) as of June 30, 2026. Property and equipment increased to $446.2 million as of June 30, 2026, up $140.3 million or 46% from $305.9 million at December 31, 2025. Luxe FireSuite and Aikman Club sales reached more than $278 million in total sales since launching the program across current and in development venues for the quarter ended June 30, 2026. During the quarter, Luxe FireSuite sales through the Company's NNN model…Read full documentShow less
Total Assets Increased $141.2 million to $511.8 million, Up 38% from Year-End 2025 COLORADO SPRINGS, Colo., August 13, 2026--(BUSINESS WIRE)--Venu Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), owner, operator, and developer of premium live entertainment destinations, today announced results for its second quarter and six-month period ended June 30, 2026. "This quarter reflected steady, deliberate progress across our business," said J.W. Roth, Founder, Chairman, and Chief Executive Officer of VENU. "We announced our expansion plans into Chattanooga and are in active discussions on a new destination in Northern Colorado, adding to a pipeline of more than 45 municipal conversations. Regent Bank signed on as the official naming rights partner for our state-of-the-art amphitheater outside of Tulsa, Oklahoma a multi-year, multi-million-dollar agreement that adds long-term, high-margin revenue directly to our bottom line, and finishing the quarter we were added to the Russell 3000® and Russell 2000® indices. Since quarter end, we've also sharpened how we finance venues to completion, as we aim to move away from sale-leaseback to C-PACE financing, which keeps our real estate on the balance sheet and minimizes shareholder dilution, bridged by a short-term loan with Ryan LLC and a debenture financing that are both structured to be retired after C-PACE closes. Our attention is squarely on the finish line at Regent Bank Amphitheater, which opens this fall with bookings, offers, and shows in progress. Sunset Amphitheater McKinney is right behind it, where construction continues to move rapidly. We look forward to sharing more in the weeks ahead." Financial Highlights for the Second Quarter of 2026 and the Six-Month Period Ended June 30, 2026 Total assets increased to $511.8 million as of June 30, 2026, up $141.2 million or 38% from $370.5 million at December 31, 2025, which resulted in $4.44 per common share in net tangible assets(1) as of June 30, 2026. Property and equipment increased to $446.2 million as of June 30, 2026, up $140.3 million or 46% from $305.9 million at December 31, 2025. Luxe FireSuite and Aikman Club sales reached more than $278 million in total sales since launching the program across current and in development venues for the quarter ended June 30, 2026. During the quarter, Luxe FireSuite sales through the Company's NNN model accounted for approximately 76% of total Luxe FireSuite sales. Total revenue was $8.5 million for the six months ended June 30, 2026, compared to $8.0 million for the six months ended June 30, 2025, an increase of 7% year over year. Operational and Strategic Highlights for the Second Quarter Fiscal 2026: Capital Markets & Financing VENU was added to the Russell 3000® Index and the small-cap Russell 2000® Index as part of FTSE Russell's 2026 semi-annual reconstitution, effective at market open on June 29, 2026, expanding institutional visibility across the approximately $12.2 trillion in assets benchmarked to the Russell US Indexes. Closed a $49.7 million sale-leaseback alignment on the land beneath Ford Amphitheater in Colorado Springs. Venue Development & National Expansion Entered into an agreement to purchase 15 acres at the Bend in Chattanooga, Tennessee, for a planned $300 million, 12,500-seat amphitheater to be developed with Urban Story Ventures, contingent on completion of public-private partnership incentives. Continued active discussions with several Northern Colorado municipalities for a potential $350 million-plus, 12,500-seat multi-seasonal entertainment destination. Named Regent Bank as the official naming rights partner for the Company's Broken Arrow, Oklahoma amphitheater, now Regent Bank Amphitheater, targeted to open in Fall 2026. Subsequent Events: July 1, 2026, through August 13, 2026 Balance Sheet & Financing Activity Secured a path to more than $150 million in C-PACE financing arranged by CBRE Group, providing long-term, fixed-rate, non-dilutive capital to fund completion of both the Regent Bank Amphitheater in Broken Arrow, Oklahoma, and Sunset Amphitheater at McKinney, Texas. Closed $45 million in financing to keep both flagship amphitheaters on schedule ahead of permanent C-PACE funding, including a $20 million bridge loan facility from Ryan, LLC, VENU's national expansion partner since 2023 and Official Tax Partner, to advance construction of the 20,000-seat Sunset Amphitheater at McKinney and a $25 million secured convertible debenture dedicated exclusively to construction of the Regent Bank Amphitheater. Strategic Advisors & Operating Partnerships Added Ron Bension, former President and CEO of ASM Global and architect of its $2.3 billion acquisition by Legends, as a strategic advisor to CEO J.W. Roth, with Mr. Bension also being nominated for election to VENU's Board of Directors at the Company's 2026 Annual Meeting of Shareholders, subject to shareholder approval. Selected Legends Global, operator of more than 450 venues hosting 20,000 events and 165 million guests annually, to lead venue management at the 12,500-seat Regent Bank Amphitheater in Broken Arrow, Oklahoma, under an exclusive agreement covering day-to-day operations, staffing, vendor management, and artist logistics, with Aramark Sports + Entertainment serving as food and beverage partner ahead of the venue's targeted fall 2026 opening. Conference Call Details About Venu Holding Corporation Venu Holding Corporation ("VENU") (NYSE American: VENU) is a premier owner, developer, and operator of luxury, experience-driven entertainment destinations. Founded by Colorado Springs entrepreneur J.W. Roth, VENU® has a portfolio of premium brands that includes Ford Amphitheater, Sunset Amphitheaters, Phil Long Music Hall, The Hall at Bourbon Brothers, Bourbon Brothers Smokehouse and Tavern, Aikman Owners Clubs, and Roth’s Sea & Steak. With venues operating and in development across Colorado, Georgia, Oklahoma, Tennessee, and Texas and a nationwide expansion underway, VENU is setting a new standard for live entertainment. VENU has been recognized nationally by The Wall Street Journal, Forbes, The New York Times, Billboard, VenuesNow, and Variety for its innovative and disruptive approach to live entertainment. Through strategic partnerships with industry leaders such as AEG Presents, NFL Hall of Famer and Founder of EIGHT Elite Light Beer, Troy Aikman, Aramark Sports + Entertainment, Tixr, Niall Horan, and Dierks Bentley, VENU continues to shape the future of the entertainment landscape. For more information, visit VENU’s website, Instagram, LinkedIn, or X. Forward Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While Venu believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. Venu expressly disclaims any obligation to update or alter statements whether because of new information, future events or otherwise, except as required by law. Non-GAAP Financial Measures (1) Net Tangible Asset Value Per Common Share Net Tangible Asset Value Per Common Share, as presented, is a non-GAAP financial measure. We define Net Tangible Asset Value Per Common Share as total assets, excluding intangible assets, less total liabilities, divided by common shares outstanding. Management believes this measure provides useful information regarding the tangible asset value attributable to holders of the Company’s common shares and may assist investors in evaluating the Company’s financial position and the value of its tangible assets on a per-share basis. Net Tangible Asset Value Per Common Share may also be useful when considering values based on mark to market basis or as-completed appraisal basis. Appraisal Disclosures (2) These appraisals used the cost basis, income, and comparable sales approaches to valuation and, after reconciliation, came to the appraised values of the properties. These approaches to valuation are commonly used approaches to value for appraisal of commercial properties, as opposed to assigning a valuation on the properties based solely on the cost basis of the properties. The total appraisal includes two Colorado Springs parcels later sold through sale-leaseback transactions: a 5.5-acre parking lot, appraised at $9.2 million and sold in November 2025 for $14 million, and a 9.5-acre lot, appraised and sold at approximately $50 million and sold in June 2026. It is important to understand that the appraisal of VENU’s properties takes into account, among other factors, the valuation of the Company’s real estate and developments at a specific point in time, and the appraised value is subject to (and likely to) change at any time, whether it increases or decreases, and such changes could be caused by macro and micro factors over which we have no control. The appraisal of the property portfolio is only an estimate of its value as to the date of the appraisal and based only on the specific appraisal methodologies and should not be relied upon as a measure of its realized value or the value at which any property could be sold to a third party. Other appraisal methodologies may yield materially different appraised value. Furthermore, the appraised value of the properties differs from the values assigned to it under generally accepted accounting principles in the United Stated ("GAAP"), which require the values of the properties to be valued at their cost basis for financial presentation purposes, and therefore the appraised values represent an unaudited measure that may not represent fair value, as defined under GAAP, and such values and appraisals are not, and will not be, subject to audit or other review procedures by our outside independent accountants. The opinions expressed in the appraisal are based on estimates and forecasts that are prospective in nature and subject to certain risks and uncertainties. Events may occur that could cause the performance of the properties to materially differ from the estimates utilized by the appraiser, such as changes in the economy, interest rates, capitalization rates, the financial strength of the live-music and entertainment industries, and the behavior of event attendees, investors, lenders, and municipalities. The Company reviews each appraisal of its properties to confirm that the information provided to the appraiser is accurately reflected in the appraisal, but it does not validate the methodologies, inputs, and professional judgment utilized by the certified appraiser. View source version on businesswire.com: https://www.businesswire.com/news/home/20260813000891/en/ Contacts Investor RelationsSarah Rothschild, [email protected] Media RelationsChloe Polhamus, [email protected] RedchipMichael Serrano, [email protected]
TranscriptFY2026 Q22026-08-13FY2026 Q2 earnings call transcript
Earnings source - 45 paragraphs
FY2026 Q2 earnings call transcript
Good morning, and welcome to Venu Holding Corporation's Second Quarter Fiscal 2026 Financial Results and Business Update. This morning, Venu Holding Corporation issued a press release summarizing the company's 2026 second quarter performance following the filing of its quarterly report on Form 10-Q for the quarterly period ending June 30th, 2026. This conference call is being recorded and will be available online along with the earnings press release at venu.live in accordance with the company's retention policies. All participants on today's call are in listen-only mode. Following our prepared remarks, we will open the line for a Q&A session. At this time, I would like to turn the call over to Heather Atkinson, Chief Financial Officer of Venu Holding Corporation. Heather, please go ahead.
Thank you, and good morning, everyone. Welcome to Venu Holding Corporation's second quarter fiscal 2026 earnings call and business update. Today, you'll hear from our Founder, Chairman, and CEO, J.W. Roth, on highlights from across the business and the vision for the quarters ahead. I'll then review our financial results. We'll open the line for questions after our prepared remarks. Before we begin, I want to remind everyone that various remarks about future expectations, plans, and prospects constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995. Venu cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated, including risks described in the company's most annual report on Form 10-K and our subsequent filings with the SEC, all of which can be reviewed at venu.live or sec.gov.
Any forward-looking statements made on this call speak only as of today, August 13th, 2026. Venu undertakes no obligation to update any forward-looking statements except as required by federal securities laws. With that, I would like to turn the call over to J.W.
Thank you, Heather, and thank you to everyone joining us today. This quarter reflected steady, deliberate progress across our entire business. We announced our expansion into Chattanooga, Tennessee, at The Bend, sited right on the edge of the Tennessee River, which I believe will become one of the most unique locations in our entire portfolio. We're also in continued discussions on a new destination in Northern Colorado, adding to a pipeline of more than 45 municipal conversations. A truly exciting time to be in Venu's expansion trajectory. Regent Bank signed on as our official naming rights partner for our state-of-the-art amphitheater outside of Tulsa, Oklahoma, a multi-year, multimillion-dollar agreement that adds long-term, high-margin revenue directly to our bottom line. And we finished the quarter by joining the Russell 3000 and the Russell 2000, putting us in front of a far broader universe of institutional investors than we've ever had before.
Since the end of the quarter, we have also sharpened how we intend to finance our venues. We have identified a path to more than $150 million in C-PACE financing on our two projects in Broken Arrow and McKinney. This is non-dilutive, long-term, fixed-rate capital secured through a property tax assessment rather than a lien against our corporate assets, which reinforces the intrinsic value of our completed projects. That C-PACE financing is expected to fund the remaining construction balance for both Broken Arrow and Sunset Amphitheater in McKinney. The reason institutional capital is showing up for us this way is because something I have said from day one, it is on land that we own. Our balance sheet gives lenders something to actually underwrite. That is the advantage of the ownership model. It is not just a financing tactic.
It is the structural reason we can access this kind of capital at this stage of our growth. Ahead of our anticipated C-PACE close, we put two bridge loans in place, including one from Ryan LLC, our longtime national expansion partner and the official tax partner for the Sunset Amphitheater in McKinney, so construction can keep moving while we prepare to close permanent financing. Both of these loans, these bridge loans, are structured to be retired after C-PACE funds. Together, this gives us a financing stack that is projected to carry both venues through completion. We also brought in an experienced operator to run Regent Bank Amphitheater, Legends Global, and added Ron Bension as a strategic advisor to our team this quarter, with decades of experience taking venue companies through major growth and expansions. Stepping back for a moment, a couple of pieces of outside coverage this quarter captured our momentum.
Forbes described a broader shift in consumer spending toward paying for access and repeat experience and pointed to our very own FireSuite model as the live entertainment example of that shift. Our FireSuite sales have been incredible this quarter, and as of today, we are pushing past $285 million since the program's launch. Some other coverage this quarter looked at the strongest amphitheater development cycle in U.S. history and highlighted Venu's pipeline as a template for where this category is going. As I mentioned earlier, we are in conversations with more than 45 municipalities about bringing Venu to their community. We will not move forward with every one of them, but that level of interest is a real validation of the model that we have built. Before I turn the call back to Heather, I want to address a few items. Our losses year-to-date and for the next few quarters are totally expected.
We are actively building and executing pre-opening budgets on the front end as we gear up to officially open the gates to two new exciting multimillion-dollar venues in our portfolio. As such, these expenses show up before revenue does. Here is the deal. Between now and the first quarter of 2027, we are bringing roughly $600 million of assets online. That is expensive to do and will be reflected in our results. However, once these venues are open, we expect them to generate meaningful cash flow, and we expect to be in a position to provide financial guidance by mid-next year. The current reality is this: revenue is up, assets are up, FireSuite sales are up, and net tangible assets are up. This business is firing on all cylinders, and the spend you are seeing today is what is fueling it. I am excited about the months ahead.
I'm grateful for every shareholder, every partner, and every member of our team who is building this with us. Let me tell you this, the best is yet to come. With that, I'm going to turn it back over to Heather for the financial update.
Thank you so much, J.W. Now let's dig into the quarterly and six-month figures. Our total assets increased to $511.8 million as of June 30th, 2026, up $141.2 million or 38% from $370.5 million at December 31, 2025, which resulted in $4.44 per common share and net tangible assets as of June 30th, 2026. It is worth noting that our municipality contributed real estate sits at zero cost basis on our balance sheet rather than mark-to-market value as they are contributed assets, which resulted in $9.58 per common share in net tangible assets on a mark-to-market basis as of June 30th, 2026. On an as-completed basis of $1.24 billion on a net tangible share price would equal $17.44 per common share, giving a fuller picture of what this portfolio would be worth once completed.
Our property and equipment increased to $446.2 million as of June 30th, 2026, up $140.3 million or 46% from $305.9 million at December 31, 2025. Our Luxe FireSuite and Aikman Club sales reached more than $278 million in total sales since launching the program across current and in-development venues as of June 30th, 2026. During the quarter, we sold approximately $30 million in Luxe FireSuite sales, and the company's triple net model accounted for approximately 76% of those sales. Our total revenue was $8.5 million for the six months ended June 30th, 2026, compared to $8 million for the six months ended June 30th, 2025, an increase of 7% year-over-year. With that, I will turn it back to J.W.
Thanks, Heather, and thank you to the entire team for all the hard work. All right. Let's open this up for questions.
We will now begin the question-and-answer session. Please limit yourself to one question and one follow-up. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. We ask that you pick up your handset when asking a question to allow for optimum sound quality. If you are muted locally, please remember to unmute your device. Please stand by while we compile the Q&A roster. Your first question comes from the line of Greg Gibas from Northland Securities. Your line is now open. Please go ahead.
Great. Good morning, J.W. and Heather. Thanks for taking the question. I wanted to ask, clearly you're squarely in the build phase, spending heavily on construction with these two massive projects, Oklahoma, Texas. Those will be open soon, presumably booking content and selling tickets. Given all that, what does the path to profitability look like from here?
Greg, first, thanks for joining today, and I appreciate you as a shareholder. You're right. We are on a massive amount of build right now. We expect Broken Arrow to open here in the next 90 days or so. We're currently booking that venue. The first shows have been booked. We have not booked anything in November yet, simply because we want to make sure that we're on track for our opening. But we are booking December, and we're booking the first quarter. We have over 25 holds and avails for Broken Arrow already in the calendar, and so that venue is coming along strong. We will do about $22 million or so in EBITDA in that venue in the first year, and it'll stabilize around $25 million or so. McKinney, we are anticipating a March finish there.
We are currently booking McKinney, and holds and avails sit at about 20 or 25 shows again. That venue will produce about $38 million-$39 million its first year and stabilize around $45 million-$46 million a year in EBITDA. Our path to profitability is really second, early third quarter of 2027. We actually think that, like I said in the call here a minute ago, we actually think we'll be in a position by March or so to start giving guidance based on the shows that we're booking.
The first six, including the Ford here in Colorado Springs should produce about $125 million-$130 million in total EBITDA on the operating side. We're probably, I'm going to guess between 28 and 29 months away from the full run of those first six. But as we get there, we also have five more that'll be under construction in that same amount of time. And so, we're continuing to drive both on the openings that we have currently, as well as the new builds, and then our expansion pipeline is growing, and it's growing rapidly. Anyway, I hope that answers the question.
Yeah, thanks. I appreciate that detailed color there, and nice to hear the bookings are turning well. I'll pass it on. Thanks.
Thanks, Greg.
The next question comes from the line of Julie Randall, Private Investor. Your line is now open. Please go ahead.
Good morning, J.W. Thank you so much for taking my question. I think this is very similar to the last question. It was at what point do you expect the company's growth and profitability to be reflected in the stock price? What do you believe is a reasonable evaluation for Venu once the current pipeline of venues is operational?
First, Julie, thanks for your support. I appreciate your question. The share price is so disappointing to me, and I know it is to you. At the end of the day, people ask me all the time, "Why is the stock trading so low?" My answer is just, it's simple. I know it's simple, but it's true. There just happens to be more sellers than there are buyers. You ask yourself, why is that? Why are there more sellers than there are buyers? I think that if you just sort of look at the state of the company and where we are, I think sellers are sort of betting that we're not going to get these open, right? There's just more of those than there are buyers who are very confident, like myself, that we are going to get these open.
If you look over the last couple of quarters, I have invested hundreds of thousands of dollars personally in our stock. I file my Form 4 every time. Over the next two quarters, starting tomorrow, now that the blackout period is over, I'm going to invest, again, personally, hundreds of thousands of dollars in the stock, simply because I see an absolute clear path to opening our venues and to profitability. But to answer your question, there's just more people that are pessimistic than are optimistic. It provides a great opportunity for buyers like me today to nibble at the stock. We have taken on a massive project here. Venu is not a simple startup. It is a startup that is capital intensive. We are spending literally hundreds of millions of dollars building these venues. It takes big cojones to do what we're doing, and we're doing it.
At the end of the day, the stock price is going to be reflective once people realize, or once the market realizes, that we've actually done what we've set out to do. I think that starts here in a couple of weeks, maybe 12 weeks down the road here, as shows start to get kicked off in Broken Arrow. I actually think it'll happen a little bit quicker than that as shows start to be announced, and that'll happen in the next three to four weeks. Tickets will go up for sale in that venue. Then I think then the market will say to itself, "You know what? They did it. They are opening these.
They have figured out the model to open these. I got to tell you, having the fractional ownership marry up to C-PACE financing allows us to accelerate everything that we're doing, and it brings our cost of capital way down, our occupancy costs way down. Not only are we going to open these, and we're going to open them on time, we're going to open them more profitable than we were maybe three or four months ago in our planning. I thank you for your call. Did that answer your question?
It did. Thank you so much.
Thank you, Julie.
Reminder, if you would like to ask a question, please press star one. To withdraw your question, press star one again. I would now like to read a question on behalf of [Dennis Coursey], investor in the Sunset Hospitality Collection at the Ford Amphitheater, a Venu shareholder, and FireSuite investor at The Hall at Centennial. Question one, when the Broken Arrow, McKinney, and El Paso facilities open, how much value does Venu expect each to add to the balance sheet? Will the market value of donated assets be reflected once they open?
[Dennis], that's a good question. Let me answer the second one first. On a mark-to-market basis, we've got our arms around what that equals in net tangible assets. We made that in our release earlier, which is about $9 today, $4.44 on a GAAP basis. From an accounting standpoint, I don't think contributed assets will ever find their way onto our GAAP balance sheet until that asset is either sold or it is financed, which we don't plan on doing. So, that contributed asset is most likely going to sit on our balance sheet at its contributed basis. That's number one. Number two, I believe that, I don't have the numbers right in front of me, but Broken Arrow is going to be somewhere around $200 million, I would assume. Its appraised value, McKinney somewhere around $400 million on just a cost basis.
I really believe its value is going to be probably more focused on the EBITDA and the earnings that they produce. Again, we believe Broken Arrow is going to be at a stabilized run rate in that 24 range annually, and McKinney will be in that 45 range or so annually on a stabilized basis.
The second question, what kind of programming is planned for The Hall at Centennial, and is Venu still targeting 80-90 events per year there?
Yes. Centennial is a project very much like what we built in Gainesville and in Colorado Springs, just on steroids. It is a bigger venue. It's going to host 2,500 cap type programming and then some omni type programming as well. Comedy, theater, things that are sort of out of the box that you don't necessarily see in Gainesville or here in Colorado Springs. We are super excited about Centennial. It'll be the first venue that we have built with fractional ownership and Luxe FireSuites. It is a venue unlike any other indoor venue in the country, and we're anxious to get it open. Yes, it'll produce 80 to 100 shows a year.
The next question comes from the line of Marty Calvert from Morgan Stanley. Your line is now open. Please go ahead.
Good morning, J.W. and team. Nice quarter. I was just wondering about the C-PACE financing. Will that come in tranches, or will that be an all at once thing? What's the structure behind the C-PACE?
Marty, first, thanks for your support and joining the call today. C-PACE is just a really interesting opportunity for us all the way around. C-PACE is a tax assessment financing that lives on our property tax roll. It does come in tranches. It comes in tranches up to about six months prior to opening. So when we get to a point where we are with Broken Arrow, those tranches will compress. With McKinney, it's the same thing. Those tranches will start about six months out, and those tranches will run through the opening in McKinney. The C-PACE folks that we're working with couldn't be better. I'm excited about building this relationship with them because I really think it's a game changer for our business. As I said earlier, what C-PACE does for us is it reduces occupancy costs.
It also reduces the necessity for us to ever go out and put a traditional mortgage on the property. I believe that most of our properties will be free and clear in terms of first mortgages. We will live with C-PACE as our long-term partner. I couldn't be more excited about C-PACE. I actually encourage everybody that's on this call to actually study a little bit about C-PACE and how it works. For a business like ours, it's terrific. It's 35%-40% LTV, and it's structured in such a way that is very, very flexible for a company like ours.
Great, J.W. Thank you.
I would now like to ask a question on behalf of [Eric Edstrom] from FireSuite Investor and Shareholder. What are the specific operating milestones, venue count, revenue, EBITDA, that would need to be achieved for Venu to support a $10-$15 share price on a reasonable valuation?
Eric, that's an interesting question. I would have to think about that a second. If you were looking at a $10 share price, first you have to figure out two things. First, you'd have to back into whatever you believe a multiple of EBITDA is going to be. Let's start there. I would say that a multiple of EBITDA of 25x-30x with the sort of growth that we're looking at would be reasonable. It would be a good comp in our market. Let's start with that number, and back into a $10 share price. So a $10 share price with sort of the next piece or the next metric that we would need, which would be shares outstanding. I think it's 58 million-59 million. I don't have it right in front of me, but let's call it 60 just for fun.
If you had a 25 multiple on 60 million shares outstanding, you'd need $25 million or so in EBITDA to generate what would be a $10 or $11 share price. If you were doing the math that way. If you were doing the math based on mark-to-market value on the balance sheet, we're there today. We're just short a $10. We're $9 and change. But a $10 valuation or a $10 share price based on metrics of multiples, at 60 million out, you would be roughly $25 million or so in EBITDA would generate that sort of valuation. Now I have to throw in a couple of pieces there. I believe we're headed to $125 million or better in EBITDA over the next, or the finishing up of the builds that we currently have underway.
You also have to remember, there's probably some growth in that cap table because of the warrants that we have outstanding. Now, there's two pieces to that. One, as they exercise, it puts another $125 million onto our balance sheet, which then reduces the amount of financing that we have to do in the future, and in a lot of ways reduces the amount of fractional ownership that we would have to sell. So, as our balance sheet grows to a fully diluted basis, which would be roughly 100 million or so, it would add $125 million in cash. If you took the $125 million in sort of projected EBITDA with the projects that we have underway, and you stuck a multiple on that of 25x, and you looked at it at a fully diluted basis, you'd be about $35 a share.
It's sort of how you do the math, and believe me, I do the math all the time. That's sort of where you sit today. I hope that answers your question.
We have now reached the end of our Q&A session. I will now turn the call back to J.W. for closing remarks.
Well, thank you. I just want to tell everybody that I appreciate you being on the call. I appreciate your support. We're rocking and rolling here, and we have a team that's incredible. We have great leadership here. This isn't just J.W. Roth. This is a team of super dedicated folks that have ownership in our company. Everybody here is hellbent on building this thing into the success it's going to be. Anyway, again, I appreciate you. I appreciate you as a shareholder, and I look forward to growing this thing together. Thank you.
This concludes today's call. Thank you for attending. You may now disconnect
Investor releaseQuarter not tagged2026-08-12Venu Holding Corp (VENU) Q2 2026 Earnings Report Preview: What To Expect
GuruFocus.com
Venu Holding Corp (VENU) Q2 2026 Earnings Report Preview: What To Expect
This article first appeared on GuruFocus. Venu Holding Corp (VENU) is set to release its Q2 2026 earnings on Aug 13, 2026. The consensus estimate for Q2 2026 revenue is 4.80 million, and the earnings are expected to come in at -0.29 per share. The full year 2026's revenue is expected to be $18.90 million and the earnings are expected to be $-1.15 per share. More detailed estimate data can be found on the Forecast page Warning! GuruFocus has detected 3 Warning Signs with VENU. Is VENU fairly valued? Test your thesis with our free DCF calculator. Over the past 90 days, revenue estimates for Venu Holding Corp (VENU) have increased from $18.80 million to $18.90 million for the full year 2026 and from $34.23 million to $34.40 million for 2027. Meanwhile, earnings estimates have declined from $-1.01 per share to $-1.15 per share for the full year 2026 and from $0.16 per share to $0.11 per share for 2027 over the same period. In the previous quarter of 2026-03-31, Venu Holding Corp's (VENU) actual revenue was $3.90 million, which beat analysts' revenue expectations of $3.75 million by 4.03%. Venu Holding Corp's (VENU) actual earnings were $-0.29 per share, which missed analysts' earnings expectations of $-0.24 per share by -20.83%. After releasing the results, Venu Holding Corp (VENU) was down by -3.11% in one day. Based on the one-year price targets offered by 2 analysts, the average target price for Venu Holding Corp (VENU) is $13.40 with a high estimate of $17.00 and a low estimate of $9.80. The average target implies an upside of 594.30% from the current price of $1.93. Based on the consensus recommendation from 1 brokerage firms, Venu Holding Corp's (VENU) average brokerage recommendation is currently 2.0, indicating an "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.
Investor releaseQuarter not tagged2026-08-04Venu Holding Corporation to Host Fiscal 2026 Second Quarter Earnings Call
Business Wire
Venu Holding Corporation to Host Fiscal 2026 Second Quarter Earnings Call
COLORADO SPRINGS, Colo., August 04, 2026--(BUSINESS WIRE)--Venu Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), owner, operator, and developer of premium live entertainment destinations, will host a conference call to discuss financial results and strategic initiatives for its fiscal second quarter ended June 30, 2026, on Thursday, August 13 at 11:00 a.m. Eastern Time. The Company will issue a press release reporting its results prior to market opening. Conference Call Details About Venu Holding Corporation Venu Holding Corporation ("VENU") (NYSE American: VENU) is a premier owner, developer, and operator of luxury, experience-driven entertainment destinations. Founded by Colorado Springs entrepreneur J.W. Roth, VENU has a portfolio of premium brands that includes Ford Amphitheater, Sunset Amphitheaters, Phil Long Music Hall, The Hall at Bourbon Brothers, Bourbon Brothers Smokehouse and Tavern, Aikman Owners Clubs, and Roth’s Sea & Steak. With venues operating and in development across Colorado, Georgia, Oklahoma, Tennessee, and Texas and a nationwide expansion underway, VENU is setting a new standard for live entertainment. VENU has been recognized nationally by The Wall Street Journal, The New York Times, Forbes, Billboard, VenuesNow, and Variety for its innovative and disruptive approach to live entertainment. Through strategic partnerships with industry leaders such as AEG Presents, NFL Hall of Famer and Founder of EIGHT Elite Light Beer, Troy Aikman, Billboard, Aramark Sports + Entertainment, Tixr, Boston Common Golf, Niall Horan, and Dierks Bentley, VENU continues to shape the future of the entertainment landscape. For more information, visit VENU’s website, Instagram, LinkedIn, or X. Forward Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While Venu believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release.…Read full documentShow less
COLORADO SPRINGS, Colo., August 04, 2026--(BUSINESS WIRE)--Venu Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), owner, operator, and developer of premium live entertainment destinations, will host a conference call to discuss financial results and strategic initiatives for its fiscal second quarter ended June 30, 2026, on Thursday, August 13 at 11:00 a.m. Eastern Time. The Company will issue a press release reporting its results prior to market opening. Conference Call Details About Venu Holding Corporation Venu Holding Corporation ("VENU") (NYSE American: VENU) is a premier owner, developer, and operator of luxury, experience-driven entertainment destinations. Founded by Colorado Springs entrepreneur J.W. Roth, VENU has a portfolio of premium brands that includes Ford Amphitheater, Sunset Amphitheaters, Phil Long Music Hall, The Hall at Bourbon Brothers, Bourbon Brothers Smokehouse and Tavern, Aikman Owners Clubs, and Roth’s Sea & Steak. With venues operating and in development across Colorado, Georgia, Oklahoma, Tennessee, and Texas and a nationwide expansion underway, VENU is setting a new standard for live entertainment. VENU has been recognized nationally by The Wall Street Journal, The New York Times, Forbes, Billboard, VenuesNow, and Variety for its innovative and disruptive approach to live entertainment. Through strategic partnerships with industry leaders such as AEG Presents, NFL Hall of Famer and Founder of EIGHT Elite Light Beer, Troy Aikman, Billboard, Aramark Sports + Entertainment, Tixr, Boston Common Golf, Niall Horan, and Dierks Bentley, VENU continues to shape the future of the entertainment landscape. For more information, visit VENU’s website, Instagram, LinkedIn, or X. Forward Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While Venu believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. Venu expressly disclaims any obligation to update or alter statements whether because of new information, future events or otherwise, except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260804834900/en/ Contacts Investor RelationsSarah Rothschild, [email protected] Media RelationsChloe Polhamus, [email protected]
Investor releaseQuarter not tagged2026-07-06VENU Reports Strong Quarter of Triple Net Ownership Sales, Capped by $11.3 Million in June
Business Wire
VENU Reports Strong Quarter of Triple Net Ownership Sales, Capped by $11.3 Million in June
Luxury ownership sales campaign with shareholder and partner Troy Aikman, generating non-dilutive capital to fund venue development and reduce reliance on traditional financing COLORADO SPRINGS, Colo., July 06, 2026--(BUSINESS WIRE)--Venu® Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), owner, operator, and developer of premium live entertainment destinations, today reported that it completed its first full quarter of its national Luxe FireSuite® and Aikman Club ownership sales campaign featuring VENU shareholder Troy Aikman, generating approximately $29.8 million in gross ownership sales and commitments across the quarter. The Company recorded gross ownership sales of approximately $11.3 million in June, the highest sales month during the current campaign, underscoring accelerating demand for VENU’s luxury ownership opportunities as new venue opening dates approach. Cumulative sales across the Company’s ownership programs have now surpassed $278 million. VENU® expects to exceed June’s record total in July as it moves closer to key milestones, including an expected fall 2026 opening for Regent Bank Amphitheater in Broken Arrow, Oklahoma and an expected first-quarter 2027 opening for Sunset Amphitheater in McKinney, Texas. Proceeds from FireSuite and Aikman Club ownership sales represent a financing mechanism rather than operating revenue. These transactions are recorded on the Company’s balance sheet and are used to fund venue development. As ownership sales continue to accelerate, they reduce the Company’s reliance on traditional and non-traditional lending, lowering leverage and strengthening VENU’s path to opening its venues. "We just closed one of the strongest quarters of ownership sales in company history," said J.W. Roth, Founder, Chairman, and CEO of VENU. "Every dollar we raise through our triple net ownership sales is capital that funds our venues’ development. At our current build rate and with our projected opening dates, I expect us to reach $1 billion in net tangible assets on a mark to market basis over the next 12 months, with venues open during fiscal 2027 ramping toward operational profitability. We are on a clear path to opening these buildings and delivering for shareholders and fans alike." VENU continues to execute across multiple financing pillars, including its luxury ownership programs, public-private partnership…Read full documentShow less
Luxury ownership sales campaign with shareholder and partner Troy Aikman, generating non-dilutive capital to fund venue development and reduce reliance on traditional financing COLORADO SPRINGS, Colo., July 06, 2026--(BUSINESS WIRE)--Venu® Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), owner, operator, and developer of premium live entertainment destinations, today reported that it completed its first full quarter of its national Luxe FireSuite® and Aikman Club ownership sales campaign featuring VENU shareholder Troy Aikman, generating approximately $29.8 million in gross ownership sales and commitments across the quarter. The Company recorded gross ownership sales of approximately $11.3 million in June, the highest sales month during the current campaign, underscoring accelerating demand for VENU’s luxury ownership opportunities as new venue opening dates approach. Cumulative sales across the Company’s ownership programs have now surpassed $278 million. VENU® expects to exceed June’s record total in July as it moves closer to key milestones, including an expected fall 2026 opening for Regent Bank Amphitheater in Broken Arrow, Oklahoma and an expected first-quarter 2027 opening for Sunset Amphitheater in McKinney, Texas. Proceeds from FireSuite and Aikman Club ownership sales represent a financing mechanism rather than operating revenue. These transactions are recorded on the Company’s balance sheet and are used to fund venue development. As ownership sales continue to accelerate, they reduce the Company’s reliance on traditional and non-traditional lending, lowering leverage and strengthening VENU’s path to opening its venues. "We just closed one of the strongest quarters of ownership sales in company history," said J.W. Roth, Founder, Chairman, and CEO of VENU. "Every dollar we raise through our triple net ownership sales is capital that funds our venues’ development. At our current build rate and with our projected opening dates, I expect us to reach $1 billion in net tangible assets on a mark to market basis over the next 12 months, with venues open during fiscal 2027 ramping toward operational profitability. We are on a clear path to opening these buildings and delivering for shareholders and fans alike." VENU continues to execute across multiple financing pillars, including its luxury ownership programs, public-private partnerships, and sale-leaseback transactions, as it builds out its national portfolio of premium amphitheaters and live entertainment destinations. About Venu Holding Corporation Venu Holding Corporation ("VENU") (NYSE American: VENU) is a premier owner, developer, and operator of luxury, experience-driven entertainment destinations. Founded by Colorado Springs entrepreneur J.W. Roth, VENU has a portfolio of premium brands that includes Ford Amphitheater, Sunset Amphitheaters, Phil Long Music Hall, The Hall at Bourbon Brothers, Bourbon Brothers Smokehouse and Tavern, Aikman Owners Clubs, and Roth’s Sea & Steak. With venues operating and in development across Colorado, Georgia, Oklahoma, Tennessee, and Texas and a nationwide expansion underway, VENU is setting a new standard for live entertainment. VENU has been recognized nationally by The Wall Street Journal, The New York Times, Billboard, VenuesNow, and Variety for its innovative and disruptive approach to live entertainment. Through strategic partnerships with industry leaders such as AEG Presents, NFL Hall of Famer and Founder of EIGHT Elite Light Beer, Troy Aikman, Billboard, Aramark Sports + Entertainment, Tixr, Boston Common Golf, Niall Horan, and Dierks Bentley, VENU continues to shape the future of the entertainment landscape. For more information, visit VENU’s website, Instagram, LinkedIn, or X. Forward Looking Statements This press release contains "forward-looking statements" that are subject to substantial risks and uncertainties. All statements, other than statements of historical fact, contained in this press release are forward-looking statements. Forward-looking statements contained in this press release may be identified by the use of words such as "anticipate," "believe," "contemplate," "could," "estimate," "expect," "intend," "seek," "may," "might," "plan," "potential," "predict," "project," "target," "aim," "should," "will" "would," or the negative of these words or other similar expressions, although not all forward-looking statements contain these words. Forward-looking statements are based on the Company’s current expectations and are subject to inherent uncertainties, risks and assumptions that are difficult to predict. Further, certain forward-looking statements are based on assumptions as to future events that may not prove to be accurate. These and other risks and uncertainties are described more fully in the sections titled "Risk Factors" in the Company’s Annual Report on Form 10-K for the year ended December 31, 2024, on file with the SEC, as well as in reports subsequently filed by the Company with the SEC. Forward-looking statements contained in this announcement are made as of this date, and the Company undertakes no duty to update such information except as required under applicable law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260706662818/en/ Contacts Investor RelationsSarah Rothschild, [email protected] Media RelationsChloe Polhamus, [email protected]
Investor releaseQuarter not tagged2026-05-16Venu Holding Corp (VENU) Q1 2026 Earnings Call Highlights: Strategic Partnerships and ...
GuruFocus.com
Venu Holding Corp (VENU) Q1 2026 Earnings Call Highlights: Strategic Partnerships and ...
This article first appeared on GuruFocus. Release Date: May 15, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Venu Holding Corp (VENU) has developed a capital-efficient model for financing venue construction, leveraging public-private partnerships, pre-sale of fractional ownerships, and sale-leaseback transactions. The company reported a significant increase in total assets, reaching $461 million as of March 31, 2026, up 25% from the previous quarter. VENU has secured over $260 million in sales from its Luxe Fire Suite and Aikman Club offerings, demonstrating strong investor interest. The company has established partnerships with major brands like PepsiCo and Aramark Sports & Entertainment, enhancing its brand value and revenue potential. VENU's innovative venue design, featuring multi-seasonal and multi-configurational spaces, aims to host up to 100 shows annually, significantly more than traditional amphitheaters. Despite the increase in total assets, the real estate contributed by municipalities is not fully reflected in the financials due to GAAP accounting rules. The company is currently in a capital-intensive phase, which may strain financial resources if not managed carefully. Some of VENU's operating venues, like the Bourbon Brothers Smokehouse and Tavern locations, faced headwinds in Q1, including softer traffic and weather-related closures. The company is still in the early stages of its venue development, with ongoing construction and planning in several locations, which may pose execution risks. VENU's revenue growth was modest, with a 11% increase year-over-year, indicating potential challenges in scaling operations quickly. Warning! GuruFocus has detected 4 Warning Signs with VENU. Is VENU fairly valued? Test your thesis with our free DCF calculator. Q: Could you talk more about the new class of venues you're set to build and what differentiates them from legacy amphitheaters? A: Our new venues are purpose-built, state-of-the-art spaces designed to fill a market gap. Unlike traditional amphitheaters, these venues are multi-seasonal and multi-configurational, allowing for up to 100 shows annually compared to the typical 30. They feature real estate ownership, premium hospitality, and immersive technology, creating a new asset class in live entertainment. (J.W. Roth, CEO) Q: Can you elab…Read full documentShow less
This article first appeared on GuruFocus. Release Date: May 15, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Venu Holding Corp (VENU) has developed a capital-efficient model for financing venue construction, leveraging public-private partnerships, pre-sale of fractional ownerships, and sale-leaseback transactions. The company reported a significant increase in total assets, reaching $461 million as of March 31, 2026, up 25% from the previous quarter. VENU has secured over $260 million in sales from its Luxe Fire Suite and Aikman Club offerings, demonstrating strong investor interest. The company has established partnerships with major brands like PepsiCo and Aramark Sports & Entertainment, enhancing its brand value and revenue potential. VENU's innovative venue design, featuring multi-seasonal and multi-configurational spaces, aims to host up to 100 shows annually, significantly more than traditional amphitheaters. Despite the increase in total assets, the real estate contributed by municipalities is not fully reflected in the financials due to GAAP accounting rules. The company is currently in a capital-intensive phase, which may strain financial resources if not managed carefully. Some of VENU's operating venues, like the Bourbon Brothers Smokehouse and Tavern locations, faced headwinds in Q1, including softer traffic and weather-related closures. The company is still in the early stages of its venue development, with ongoing construction and planning in several locations, which may pose execution risks. VENU's revenue growth was modest, with a 11% increase year-over-year, indicating potential challenges in scaling operations quickly. Warning! GuruFocus has detected 4 Warning Signs with VENU. Is VENU fairly valued? Test your thesis with our free DCF calculator. Q: Could you talk more about the new class of venues you're set to build and what differentiates them from legacy amphitheaters? A: Our new venues are purpose-built, state-of-the-art spaces designed to fill a market gap. Unlike traditional amphitheaters, these venues are multi-seasonal and multi-configurational, allowing for up to 100 shows annually compared to the typical 30. They feature real estate ownership, premium hospitality, and immersive technology, creating a new asset class in live entertainment. (J.W. Roth, CEO) Q: Can you elaborate on the momentum in partnerships and how the sponsorship portfolio might grow as the business scales? A: We're seeing strong momentum in partnerships, with over $100 million in negotiated and contractual partnership revenue already secured. As our venue footprint expands, we expect the number and depth of partnerships to grow, creating new local, regional, and national revenue opportunities. This revenue stream is high margin, recurring, and scalable. (Terry Liebler, President of Growth and Strategy) Q: Could you explain more about the development plans in Chattanooga and Northern Colorado? A: In Chattanooga, we're developing a venue on the Tennessee River as part of a mixed-use project called The Bend. It's a strategic location between Nashville, Atlanta, and Knoxville. In Northern Colorado, we're targeting an underserved area with strong local support, aiming to establish a venue that caters to nearly a million people. (Bob, Development Team) Q: What excites you most about the upcoming season at the Ford Amphitheater? A: The Ford Amphitheater has been a successful proof of concept, demonstrating the demand for elevated fan experiences. We're excited about the summer lineup and the venue's ability to cater to today's fan demands, such as premium hospitality and rideshare services, which enhance the overall guest experience. (J.W. Roth, CEO) Q: How are you addressing the challenges faced by your Bourbon Brothers Smokehouse and Tavern locations? A: We experienced some headwinds due to softer traffic and weather-related closures. However, we're refining menus and programming strategies to align with customer preferences and drive traffic and revenue. Every operational decision is made with scalability in mind. (Vic Sutter, COO) For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Investor releaseQuarter not tagged2026-05-15Venu Holding Corporation Reports First Quarter Fiscal 2026 Financial Results
Business Wire
Venu Holding Corporation Reports First Quarter Fiscal 2026 Financial Results
Total Assets Increased to $461.3 Million, Up 25% from Year-End 2025 COLORADO SPRINGS, Colo., May 15, 2026--(BUSINESS WIRE)--Venu Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), owner, operator, and developer of premium live entertainment destinations, today announced results for its fiscal first quarter ended March 31, 2026 "We had a busy start to fiscal 2026, with significant progress executing on our strategy to bring a new asset class to live entertainment," said J.W. Roth, Founder, Chairman, and Chief Executive Officer of VENU®. "Conversations with municipalities continue to gain momentum, with more than 45 municipalities currently in active discussion about bringing a VENU concept into their city limits. And subsequent to quarter end we announced a new planned development at the Bend in Chattanooga, Tennessee, which we believe represents a tremendous opportunity for the VENU brand. As we look back on the fiscal first quarter, we are proud of the progress we have made. Our total assets increased to $461.3 million, up 25% from year-end, as we continue to get closer to completing our new state-of-the-art immersive venues. On the sponsorship front, we announced a new multi-year partnership with PepsiCo as our official beverage partner across our portfolio of Sunset Amphitheater venues, as well as an expanded partnership with Aramark Sports and Entertainment. On the capital front we closed an $86.25 million equity capital raise in one of the most volatile market stretches in recent history. We also launched several new product offerings for our Luxe FireSuites™, to meet demand at all levels and support continued development of our venues. Looking ahead, our model is working. The conviction has never been stronger. And the plan is being executed at every level. We are excited for what is next." Financial Highlights for the First Quarter Fiscal 2026 Ended March 31, 2026 Total assets increased to $461.3 million as of March 31, 2026, up $90.8 million or 25% from $370.5 million at December 31, 2025. It is worth noting that our municipality contributed real estate sit at zero cost basis on our balance sheet rather than mark to market value as they are contributed assets. An as-completed basis appraisal of $1.24 billion reflects a more complete picture of what this portfolio will be worth once completed(1). Property and equipment increase…Read full documentShow less
Total Assets Increased to $461.3 Million, Up 25% from Year-End 2025 COLORADO SPRINGS, Colo., May 15, 2026--(BUSINESS WIRE)--Venu Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), owner, operator, and developer of premium live entertainment destinations, today announced results for its fiscal first quarter ended March 31, 2026 "We had a busy start to fiscal 2026, with significant progress executing on our strategy to bring a new asset class to live entertainment," said J.W. Roth, Founder, Chairman, and Chief Executive Officer of VENU®. "Conversations with municipalities continue to gain momentum, with more than 45 municipalities currently in active discussion about bringing a VENU concept into their city limits. And subsequent to quarter end we announced a new planned development at the Bend in Chattanooga, Tennessee, which we believe represents a tremendous opportunity for the VENU brand. As we look back on the fiscal first quarter, we are proud of the progress we have made. Our total assets increased to $461.3 million, up 25% from year-end, as we continue to get closer to completing our new state-of-the-art immersive venues. On the sponsorship front, we announced a new multi-year partnership with PepsiCo as our official beverage partner across our portfolio of Sunset Amphitheater venues, as well as an expanded partnership with Aramark Sports and Entertainment. On the capital front we closed an $86.25 million equity capital raise in one of the most volatile market stretches in recent history. We also launched several new product offerings for our Luxe FireSuites™, to meet demand at all levels and support continued development of our venues. Looking ahead, our model is working. The conviction has never been stronger. And the plan is being executed at every level. We are excited for what is next." Financial Highlights for the First Quarter Fiscal 2026 Ended March 31, 2026 Total assets increased to $461.3 million as of March 31, 2026, up $90.8 million or 25% from $370.5 million at December 31, 2025. It is worth noting that our municipality contributed real estate sit at zero cost basis on our balance sheet rather than mark to market value as they are contributed assets. An as-completed basis appraisal of $1.24 billion reflects a more complete picture of what this portfolio will be worth once completed(1). Property and equipment increased to $381.6 million as of March 31, 2026, up $75.7 million or 25% from $305.9 million at December 31, 2025. The Company completed a capital raise of its common stock together with warrants during the three months ended March 31, 2026, which resulted in gross proceeds of $86.25 million, which generated net proceeds to the Company of $80.1 million. Luxe FireSuite and Aikman Club sales reached more than $260 million in sales since launching the program. Demand for the product, and for our newly launched NNN model prompted the recent launch of a $300+ million NNN portfolio available to both venue patrons and real estate investors across the nation, with Troy Aikman as the Company’s spokesperson. Luxe FireSuite sales through the Company's NNN model accounted for approximately 47% of total Luxe FireSuite sales for the quarter ended March 31, 2026. Total revenue was $3.9 million for the three months ended March 31, 2026, compared to $3.5 million for the three months ended March 31, 2025, an increase of 11%. Operational and Strategic Highlights for the First Quarter Fiscal 2026: Venue Development The 134,000 square foot canopy roof at Sunset Amphitheater Broken Arrow, OK reached full installation in February 2026, a significant construction milestone for the 12,500-capacity venue as it advances toward its targeted fall 2026 opening. Construction continues as planned at Sunset Amphitheater McKinney, TX, where the team recently broke ground on the canopy roof structure of the 20,000-seat venue, which remains on track to open in Q1 2027. Took ownership of a property in Centennial, Colorado in February 2026, where VENU plans to develop a premium indoor concert hall and restaurant. The project will introduce VENU's first ever indoor Luxe FireSuite model to the portfolio. Team & Leadership Strengthened the executive team with the addition of Sarah Rothschild, as Senior Vice President of Strategic Finance and Investor Relations, bringing experience from two of the most iconic names in premium live entertainment, MSG Entertainment and Sphere. Market Recognition & Brand Presented the Billboard Disruptor Award at Billboard's Power 100 to PlaqueBoy Max, one of the most influential creator voices in music today, continuing VENU's role at the center of the live entertainment conversation. Aramark Sports + Entertainment deepened its commitment to VENU in early 2026, expanding its partnership to cover five premium venues and making an additional equity investment, reinforcing its long-term alignment with the Company's growth trajectory. J.W. Roth represented VENU on NYSE TV and Schwab Network, sharing the Company's $6 billion growth vision and the investor's conviction driving its $86.25 million capital raise. Subsequent Events: April 1, 2026, through May 15, 2026 Launched a landmark nationwide Luxe FireSuite campaign across several national broadcast networks, and major digital and social platforms, opening $300+ million in triple net real estate inventory to investors across the country, with longtime VENU shareholder, FireSuite owner, and partner Troy Aikman serving as national spokesperson. Announced active discussions with several Northern Colorado municipalities for a potential $350 million multi-seasonal, omni-content entertainment destination with a capacity of 12,500, designed to set a new standard for live entertainment in the American West. Launched the FireSuite Income Offering, a fractional ownership offering delivering an 11% preferred annual return backed by real estate assets, with a minimum investment of $20,000, bringing Luxe FireSuite ownership to a broader range of accredited investors nationwide. Announced planned expansion into Tennessee with a projected $300 million landmark amphitheater at the Bend in Chattanooga, developed in partnership with Urban Story Ventures, featuring approximately 12,500 seats and a canopied multi seasonal design that will make it one of the largest live entertainment venues in the state. Conference Call Details Source: Venu Holding Corporation About Venu Holding Corporation Venu Holding Corporation ("VENU") (NYSE American: VENU) is a premier owner, developer, and operator of luxury, experience-driven entertainment destinations. Founded by Colorado Springs entrepreneur J.W. Roth, VENU® has a portfolio of premium brands that includes Ford Amphitheater, Sunset Amphitheaters, Phil Long Music Hall, The Hall at Bourbon Brothers, Bourbon Brothers Smokehouse and Tavern, Aikman Owners Clubs, and Roth’s Sea & Steak. With venues operating and in development across Colorado, Georgia, Oklahoma, Tennessee, and Texas and a nationwide expansion underway, VENU is setting a new standard for live entertainment. VENU has been recognized nationally by The Wall Street Journal, The New York Times, Billboard, VenuesNow, and Variety for its innovative and disruptive approach to live entertainment. Through strategic partnerships with industry leaders such as AEG Presents, NFL Hall of Famer and Founder of EIGHT Elite Light Beer, Troy Aikman, Aramark Sports + Entertainment, Tixr, Niall Horan, and Dierks Bentley, VENU continues to shape the future of the entertainment landscape. For more information, visit VENU’s website, Instagram, LinkedIn, or X. Forward Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While Venu believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. Venu expressly disclaims any obligation to update or alter statements whether because of new information, future events or otherwise, except as required by law. (1) Appraisal Disclosures These appraisals used the cost basis, income, and comparable sales approaches to valuation and, after reconciliation, came to the appraised values of the properties. These approaches to valuation are commonly used approaches to value for appraisal of commercial properties, as opposed to assigning a valuation on the properties based solely on the cost basis of the properties. The total appraisal for the Colorado Springs campus includes a 5.5-acre parking lot that was later sold through a sale-leaseback transaction in November 2025 for $14 million. At the time of the original appraisal, that parcel was valued at $9.2 million. It is important to understand that the appraisal of VENU’s properties takes into account, among other factors, the valuation of the Company’s real estate and developments at a specific point in time, and the appraised value is subject to (and likely to) change at any time, whether it increases or decreases, and such changes could be caused by macro and micro factors over which we have no control. The appraisal of the property portfolio is only an estimate of its value as to the date of the appraisal and based only on the specific appraisal methodologies and should not be relied upon as a measure of its realized value or the value at which any property could be sold to a third party. Other appraisal methodologies may yield materially different appraised value. Furthermore, the appraised value of the properties differs from the values assigned to it under generally accepted accounting principles in the United Stated ("GAAP"), which require the values of the properties to be valued at their cost basis for financial presentation purposes, and therefore the appraised values represent an unaudited measure that may not represent fair value, as defined under GAAP, and such values and appraisals are not, and will not be, subject to audit or other review procedures by our outside independent accountants. The opinions expressed in the appraisal are based on estimates and forecasts that are prospective in nature and subject to certain risks and uncertainties. Events may occur that could cause the performance of the properties to materially differ from the estimates utilized by the appraiser, such as changes in the economy, interest rates, capitalization rates, the financial strength of the live-music and entertainment industries, and the behavior of event attendees, investors, lenders, and municipalities. The Company reviews each appraisal of its properties to confirm that the information provided to the appraiser is accurately reflected in the appraisal, but it does not validate the methodologies, inputs, and professional judgment utilized by the certified appraiser. View source version on businesswire.com: https://www.businesswire.com/news/home/20260515020314/en/ Contacts Investor RelationsSarah Rothschild, [email protected] Media RelationsChloe Polhamus, [email protected]
TranscriptFY2026 Q12026-05-15FY2026 Q1 earnings call transcript
Earnings source - 47 paragraphs
FY2026 Q1 earnings call transcript
This morning, Venu Holding Corporation issued a press release summarizing the company's 2026 first quarter performance. Following the filing of its quarterly report on Form 10-Q for the period ending March 31, 2026. All participants on today's call are in listen-only mode. Following our prepared remarks, we will open the line for a Q&A session. At this time, I would like to turn the call over to Heather Atkinson, Chief Financial Officer of Venu Holding Corporation. Heather, please go ahead.
Thank you, and good morning, everyone. Welcome to Venu Holding Corporation's first quarter fiscal 2026 earnings call and business update. On the call today, we have our Founder, Chairman, and CEO, J.W. Roth, President Will Hodgson, Chief Operating Officer Vic Sutter, and President of Growth & Strategy, Terri Liebler. Following the safe harbor statement, J.W. will open with highlights from across the business. Will, Vic, and Terri will each provide updates from their areas. I will then walk through our financial results. After that, we will open the line for questions. Before we begin, I want to remind everyone that various remarks about future expectations, plans, and prospects constitute forward-looking statements for purposes of the safe harbor provisions under the Private Securities Litigation Reform Act of 1995.
Venu cautions that these forward-looking statements are subject to risks and uncertainties that may cause actual results to differ materially from those indicated, including risks described in the company's report on Form 10-Q for the quarter ended March 31, 2026, and our other SEC filings, all of which can be reviewed at venu.live or sec.gov. Any forward-looking statements made on this call speak only as of today, May 15, 2026. Venu does not intend to update any forward-looking statements except as required by federal securities laws. With that, I would like to turn the call over to our Founder, Chairman, and CEO, J.W. Roth.
Thank you, Heather, and thanks a million to everybody that's joining us today. We had a busy start to fiscal year 2026 as we continued to execute on our strategy to bring a new asset class to live entertainment. Our venues are designed as multi-seasonal, multi-configurational spaces with unparalleled omni-content capabilities, intentionally built to maximize utilization and deliver the elevated immersive experience today's concertgoer expects. As I've mentioned before, the average amphitheater in the U.S. is approximately 40 years old and falls well short of modern premium standards. Beyond filling this market gap, we've developed a capital-efficient model for financing venue construction. We build these premium live entertainment venues through three avenues: public-private partnerships with municipalities, pre-sale of fractional ownerships in the venues, and the sale leaseback transactions. Roughly 40% of the project construction comes from municipalities in the form of real estate, tax incentives, and cash.
Another 40% comes through the pre-sale of fractional ownership, and 20% from the sale leaseback of the contributed real estate, which typically generates a development profit. We believe this model aligns all parties around the long-term success of every venue we build. The first pillar of our development model involves partnerships with forward-looking municipalities that recognize the economic value our venues bring to their local markets. Through these partnerships, we negotiate incentive packages that contribute meaningfully to the funding of each venue's development. We believe there is one aspect of this model which is not fully reflected in our financials. Under standard GAAP accounting rules, any real estate contributed by a municipality sits at basis or zero on our balance sheet.
While we reported total assets of $461 million today, that number does not include any value for the real estate the municipalities contribute to us. In addition, earlier this year, we received an independent appraisal that valued our real estate portfolio at $1.24 billion on an as-completed basis. In 24 months, we doubled our total assets, and today we are having ongoing discussions with more than 45 municipalities about bringing a Venu concept to their city. The second avenue of our model is the pre-sale of Luxe FireSuites in the venues we are developing. This allows investors to grow alongside us while providing a sustainable source of funding for our new venues. Since launch, our pre-sales have generated over $260 million in sales.
As we have grown, we've expanded our range of offerings to meet demand and give investors at all levels the opportunity to participate. Last month, we launched our $300 million triple net inventory with Troy Aikman, a shareholder, a FireSuite owner, and a partner. Since then, we have seen a significant increase in investor leads. Earlier this week, we launched our FireSuite Income Offering, opening the door to investors seeking a lower entry point into the fractional ownership of our FireSuites. The final avenue of our model is the sale leaseback of contributed real estate, which typically generates a development profit while allowing us to retain operational control of the venue. This component rounds out the capital stack for developing a venue and reinforces the long-term economics of every project that we build.
As it relates to capital, we are currently in a capital-intensive phase as we build what we expect to be the foundation of our platform and entertainment model. In March, we closed out a $86.25 million capital raise in the middle of one of the most volatile market stretches in recent history, demonstrating that investors believe in our vision. As we move closer to our Venu opening dates, we expect that conviction to continue to build. In summary, Venu is building a new asset class of live entertainment venues to fill a clear gap in the market, and we're doing so in a capital-efficient way. We're excited. We can't wait to see what comes next.
All right, now, well, I'm going to turn this over to Will, Vic, and Terri to talk more about what this past quarter has delivered and what we expect on the horizon. Will?
Thanks, J.W. Good afternoon, everyone. I want to give you a real picture of what the booking and talent side of the business looks like right now because there's a lot of exciting momentum. Let me start with Ford Amphitheater. The 2026 season is underway, and booking is still very much active. The calendar continues to build with a number of shows yet to be announced. We continue to expect Ford's 2026 season to look a lot like prior seasons by the time we're done. The conversations we are having with promoters and agents reflect the reputation this venue has earned. Ford is a destination, and we're looking forward to a great season. On the new venue side, Broken Arrow is taking shape, and we are deep in discussions with artists and promoters about what the inaugural season looks like.
While it's too early to share specifics, I'm pleased to say we are seeing a significant amount of interest in the Venu, and we look forward to sharing more when the time is right. McKinney is not far behind. We are already laying the groundwork for booking conversations in that market. Situated just north of Dallas, McKinney represents a significant opportunity given the region's strong demand for live entertainment. We, along with our operating and booking partner, Live Nation, are actively building relationships today that will allow us to drive meaningful programming from day one. At the club level, Phil Long Music Hall in Colorado Springs and The Hall at Bourbon Brothers in Gainesville, Georgia delivered a consistent quarter of programming, and we continue to refine our approach at both locations. We are focused on finding the right content mix that maximizes both the guest experience and the commercial opportunity.
To summarize, talent conversations are strong, our markets are progressing well, and we're entering in to the busy season with strong momentum. As we move into Q2, we're focused on executing against our plan and delivering on the opportunities in front of us. With that, I'll turn it over to you, Vic.
Thank you, Will. Good morning, everyone. As J.W. mentioned earlier, our goal with these venues is to build a new asset class in live entertainment. Our venues are designed to be multi-seasonal, multi-configuration venues featuring immersive experiences and integrated technology, creating experiences that fans cannot find anywhere else. We're implementing some of the most advanced venue technology available and building these capabilities into new venues from the ground up. I'm excited about what's ahead. We will have more to share on the technology partnerships powering this in the months ahead. With that vision in mind, let me turn to the progress we're making on the ground. In McKinney, the trusses for the canopy of roof structure are underway. Construction is progressing as planned. Broken Arrow is approaching an exciting stage of construction as the FireSuites have been delivered to site. Installation will begin soon.
In El Paso, we're advancing through our infrastructure development plan, and in Houston, we expect to close out the entitlement phase in the coming weeks. We look forward to sharing more as these projects advance. Outside of active developments, this past week we announced expansion plans in Chattanooga, Tennessee, and active conversations beginning in northern Colorado. We'll have more to share how those plans take shape in the months ahead. Turning to our operating venues in Q1, the opening of Roth's Sea & Steak in November 2025 added a meaningful new revenue stream for our portfolio, and the early performance has been exceptional. The team is executing at a high level. Our hospitality scores reflect that performance, and the property establishing itself as a premier dining destination in Colorado Springs independent of the concert season.
Private events at Roth's are tracking ahead of expectations, and we're heading into a strong summer. We are proud of what that team has built. At our Bourbon Brothers Smokehouse & Tavern locations, we experienced some headwinds in the first quarter. Colorado Springs saw softer traffic, and our Gainesville location was impacted by early winter storms that led to full and partial closures during the quarter. That said, we do not view this as a structural trend. The teams are focused. The menus are being refined to align with evolving customer preferences, and we're actively working on programming and private event strategies designed to drive traffic and revenue at both locations. Every decision we're making operationally right now is made with scale in mind. We're looking forward to a great busy season ahead. With that, I will hand it over to Terri.
Thank you, Vic. Good afternoon, everyone. The growth and strategy team's role is to make sure Venu is always moving toward the next opportunity, the next partnership, and the next revenue stream. Q1 has given us a lot to talk about. Let me start with the new partnerships because the caliber of who is choosing to align with Venu continues to set the tone. In the first quarter, we locked in PepsiCo as our official beverage partner across the Sunset Amphitheater portfolio, and Aramark Sports + Entertainment expanded to five of our venues and made an additional equity investment in the company. These are long-term partners who are deepening their commitment because they have clear visibility into where we're headed, and that tells a story Naming rights represents a category of partnership that can be genuinely transformative for a venue network of our scale. For shareholders, these deals deliver long-term contracted revenue that goes directly to the bottom line. No additional capital required, no operational complexity, just premium brands paying for the right to be associated with the platform we're building. At scale, this becomes a significant and recurring revenue stream. We have been deep in conversations on this front, and I'm more excited by the direction of those discussions than any point to date. Stay tuned for several exciting announcements in the period ahead. With that, I will turn it back over to Heather for the financial update.
Thank you so much, Terri. To dig into the quarterly figures a bit more. Our total assets increased to $461 million as of March 31, 2026, up $91 million or 25% from $370 million at December 31, 2025. As J.W. mentioned, it is worth noting that several of our municipality developments sit at zero cost basis on our balance sheet rather than mark-to-market value as they are contributed assets. An as-completed basis appraisal of $1.24 billion reflects a more complete picture of what this portfolio will be worth once completed. Property and equipment increased to $382 million as of March 31, 2026, up $76 million or 25% from $306 million at December 31, 2025.
The company completed a capital raise of its common stock during the three months ended March 31, 2026, which resulted in gross proceeds of $86.25 million, which generated net proceeds to the company of $80.1 million. Our Luxe FireSuite and Aikman Club sales reached over $260 million in sales since launching the program. Demand for the product and our newly launched triple net model prompted the recent launch of a $300 million triple net portfolio available to real estate investors across the nation, with Troy Aikman as the company spokesperson. Our Luxe FireSuite sales through the company's triple net model accounted for approximately 47% of total Luxe FireSuite sales for the quarter ended March 31, 2026.
Venu's total revenue was $3.9 million for the three months ended March 31, 2026, compared to $3.5 million for the three months ended March 31, 2025, an increase of 11% quarter-over-quarter. These highlights represent that our balance sheet is strong, the assets are real, and the model is working. With that, I will turn it back to J.W.
Thanks, Heather, and thanks to Will, Vic, and Terri. Here's what I want every investor on this call to take away today. We have built something that institutions recognize, that world-class partners keep choosing, and that retail investors are finding new ways to access. The model is working exactly the way we designed it. The pipeline is as strong as it's ever been, and we're just getting started. Let's open it up for questions.
We will now begin the question-and-answer session. Please limit yourself to one question and one follow-up. If you would like to ask a question, please press star one to raise your hand. To withdraw your question, press star one again. We ask that you pick up your handset when asking a question to allow for optimum sound quality. If you are muted locally, please remember to unmute your device. Please stand by while we compile the Q&A roster. Your first question comes from the line of Stephen Laszczyk from Goldman Sachs. Stephen, please go ahead.
Yes, thanks for taking the questions. Maybe to start off, J.W., could you talk a little bit more about the new class of venues you're set to build out here over the next couple of years. Maybe talk a little bit about what differentiates these venues from the legacy amphitheaters and venues most of us know today. Then maybe within that, the types of live entertainment you see yourself leaning into at these new venues, and ultimately what that could mean for the business model, what that could mean for utilization as these new venues ramp up?
First, Stephen, thanks a million for taking the time to join us today. You know, the venues that we're building, they're just purpose-built. They're state-of-the-art amps. They're designed to fill a clear gap that is missing in the market. You know, you think of the amphitheater segment, and I gotta tell you, I hate the word. I am working diligently to get rid of the word amphitheater because it drives me crazy because what we're building is really a whole brand-new asset class. You know, we're combining some of the things from traditional venues, but we're also changing in a massive way. You know, our new amps, if you wanna call them that, are designed around real estate ownership, premium hospitality, immersive technology. These are not yesterday's sheds.
These are really a new and exciting a venue. They're multi-seasonal. Think of the amps today. They run in the summertime, right? They close. Not these. These venues are multi-seasonal. They will run year-round. Instead of producing 30 shows that a typical amphitheater produces, these venues will produce up to 100 shows annually. They're multi-configurational, which also changes a lot of the utilization of these venues. In other words, they scale up and down in size, and they do it in such a way that they always look full. I'm gonna have Vic get more into that here in a second. Honestly, at the end of the day, what you're looking at here is not your traditional amphitheater. This is, in every way, a brand-spanking new asset class.
Vic, talk a little bit about the utilization.
Yeah, happy to. Thanks, J.W., and Stephen, thanks for making the time today. Yeah, with the multi-seasonal, we have multi-configurational design, but we also have the immersive technology, and that's all built in all the future venues. We're unlocking a much broader range of programming than, for example, you would see in a traditional amphitheater. You know, that means that we'll be able to host concerts, family shows, special events, corporate activations, and also our own immersive content and maybe other partners who are creating content, currently in the space. And this is all within the same venue. As a result, you know, we believe that these venues can host a minimum of 80 events per year, right? Depending on market. For context, right?
You look at the industry, the average of the amphitheaters around, you know, 30-35 shows annually. We're really intentionally building these to do meaningfully more when you look at that delta. We believe that the model, you know, has the potential to drive better economics because we have traditional spaces that the amphitheater uses, we don't really look at the same way, right? We have a step change in utilization. We are driven by immersive technology. We're combined with different premium hospitality offerings like FireSuites and our VIP clubs. This is really where we get the multi-configurational omni-content multi-seasonal piece of this business, and this is really what makes a unique asset class within live entertainment that no one's really seen before. I hope that answers some of your questions, Stephen.
Yeah, thanks for that. Maybe a second one just for Terri on partnerships. It sounds like there's some really nice momentum building ahead of the Venu's opening. I was just curious if you could elaborate a little bit more on what you're seeing on that front, how we should be thinking about some of the sizing of that opportunity today, and then as this business scales over the longer term, you know, how do you see the sponsorship portfolio growing as the venue footprint scales over time? Thank you.
Thanks for the question, Stephen. We're really pleased with the momentum we're seeing on the partnership side. I think what's notable is that the momentum is building well ahead of the venues actually opening. That really speaks to the strength of the Venu brand and of course the appeal of the entertainment platform we're creating. Today partnership opportunities span across specifically key inventory assets and also a number of categories. This includes, of course, naming rights, premium hospitality spaces like the Aikman Clubs and category-exclusive partners. For example, Pepsi and EIGHT. We're also seeing really strong inbound interest from both regional and national brands who want to align with this concept that you just heard J.W. and Vic talk about.
In fact, very proud and really excited to share that we secured more than $100 million already to date in negotiated and contractual partnership revenue. We think that that is obviously a very, very strong proof point of the demand that we're seeing, again, well ahead of these venues opening. Longer term, as the venues start to open and, of course, the footprint scales, which by the way, in my experience means, this means we can expect partnership opportunity to, of course, scale with it. This is both in terms of the number of partners and then of course the depth of those relationships. Each of those new venues effectively expands our addressable partner base, and that creates new local, new regional, and of course new national revenue opportunities.
We also see real potential to layer in priority venue and platform-level partnerships, which by the way, we've already started to do, as that footprint grows as well. We really believe that will drive an even greater value proposition over time. I think in summary, kind of overall, we view this revenue as high margin, recurring, and of course scalable. It's, it's a, it's a revenue stream that compounds as we bring those additional venues online.
Great. Thank you.
Your next question comes from the line of Marty Calvert from Morgan Stanley. Marty, please go ahead.
Good morning, J.W. and team. Great quarter. My question is twofold. First of all, a great, great announcement about Chattanooga. Can you explain more about the development that could go on around Chattanooga? I'm a whiskey man, so I would love to see a naming of a Jack Daniel's amphitheater in Chattanooga.
Yeah, that's awesome. I am too. you know, we've been working on that thing for a while and, first, Marty Calvert, just thanks for jumping on here. I appreciate. You're a great shareholder, a great supporter, and I just appreciate, I appreciate you joining us today. I'm actually gonna kick this over to Bob. Bob, will you jump in here and walk Marty Calvert through not only what we're doing in Chattanooga, but let's expand on that question a little bit and talk about just all of the sort of new markets that you and Ryan are working on.
Yeah, you bet. Thanks, J.W., thanks for the question, Marty Calvert. You know, both Chattanooga and Northern Colorado are great examples of how our pipeline is really starting to produce momentum. Starting with Chattanooga, it's gonna be located right down on the Tennessee River in a project called The Bend. This is a premium mixed-use development That is adjacent to the amphitheater itself will actually be right on the river, adjacent to a 300-slip marina. And really Chattanooga's an ideal market for Venu. It's a, you know, it's a 1 million person, it's MSA, it's a growing region, it's very vibrant from its entertainment perspective. From a routing perspective, it's critical. Sitting between Nashville, Atlanta and Knoxville, it makes it very attractive for stops by artists. Conversations are going well and some pieces that still are coming together on that. We are doing a, opening up our the opportunities here because this is an opportunity where we work with a private developer, and we're also working with the city on the incentives. That partnership is seeming to be very fruitful.
Turning to Northern Colorado, this is another strategic market for us, and one that, given the roots in the region, is gonna be important to us. The Northern Colorado project is meaningful to us because location to community, and it's an area, you know, of nearly, again, 1 million people that has historically been underserved as it relates to live entertainment. We're seeing strong support from the local market and municipal leaders. We are actively engaged in conversations with everyone adjacent to I-25 there, and have a couple of conversations that are advancing very quickly. More broadly, the projects reflect the type of opportunity that we're coming across through our pipeline. You know, well-located markets, really strong interest from municipal partners.
I mean, we hosted one last night, again, that we can't mention quite yet, but is very promising in the region where we're operating with Oklahoma and Texas. Our pipeline of conversations currently sits at well over 45 municipalities. Has a lot of momentum, and overall we're very pleased, and again, super excited about what's going on in Chattanooga and moving forward to identifying the location where we'll put our northern Colorado facility as well.
Thank you J.W. and Bob, appreciate it.
Your next question comes from the line of Jamie Burnoski.
Thank you everyone. Dub, terrific quarterly update, thank you. Thanks for ongoing clarity on the financial metrics. As you head into the busy season at the gorgeous Ford Amphitheater in Colorado Springs, can you walk us through what are you really most excited about? There's so much good going on, there's gotta be one or two things that are just getting you jumpy as you start each and every day regarding that area.
First, Jamie, thanks a million for taking the time to do this and to be a part of this. You're a great shareholder and I appreciate you. Honestly, the Ford has just been a home run. It's, it started off as sort of a proof of concept, and we, there a lot of tuition has been paid as a result of building the Ford because what we've learned is we've learned how elevated works, right? When we started this, the whole, the whole sort of premise and genesis of our business was to create venues that catered to the demand of today's fan.
When you look across the space and you see what the NFL has done, you see what Major League Baseball has done, you see what so many different stadiums and venues have done, what they've really done is they've catered to the demand of today's fan, and music has just failed in that area. With the exception of a few standouts like the Sphere, most outdoor music venues of the past have failed there. We really have concentrated on defining what elevated means. The Ford has been a great example of that. You know, we opened last night and had a great show, and really what I was looking for this morning from Vic is, "Vic, tell me about how we did in the clubs.
Tell me about what our per caps were." You know, whole idea is trying to break that $35 number, right? We did. We crushed it last night, and elevated worked. We're gonna see that continue to grow. When you look at what we're building in these other markets, you're not only seeing the elevated and the premium side grow, but you're also seeing the other demands of the fan, like rideshare. Last night I watched rideshare work at the Ford. Cuts down on traffic, cuts down on congestion. What it also does is it allows us to provide services that then increase dwell time, right?
I looked in the clubs when we were done last night with the show, and people stayed, which is the whole idea behind driving our business. You know, the summer lineup is fantastic. You know, we've still got probably 10 or 12 shows to announce, to finish out what the Ford season is gonna look like. In every way that the Ford Amphitheater is not only a genesis of our business, but it's really a good testing path for us. Again, appreciate the question and we're very excited about where the Ford is this year.
Thank you.
We have reached the end of the Q&A session. This concludes today's call. Thank you for attending. You may now disconnect.
Investor releaseQuarter not tagged2026-05-05Venu Holding Corporation to Host Fiscal 2026 First Quarter Earnings Call
Business Wire
Venu Holding Corporation to Host Fiscal 2026 First Quarter Earnings Call
COLORADO SPRINGS, Colo., May 05, 2026--(BUSINESS WIRE)--Venu Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), owner, operator, and developer of premium live entertainment destinations, will host a conference call to discuss financial results and strategic initiatives for its fiscal first quarter ended March 31, 2026 on Friday, May 15 at 11:00 a.m. Eastern Time. The Company will issue a press release reporting its results prior to market opening. With two campuses open and operating, five markets under active development, and venue openings on the horizon, this is a pivotal moment for VENU. Join the VENU leadership team for a review of our fiscal first quarter 2026 financial results, key business highlights, and an update on the Company's strategic initiatives and growth outlook. Conference Call Details About Venu Holding Corporation Venu Holding Corporation ("VENU") (NYSE American: VENU) is a premier owner, developer, and operator of luxury, experience-driven entertainment destinations. Founded by Colorado Springs entrepreneur J.W. Roth, VENU has a portfolio of premium brands that includes Ford Amphitheater, Sunset Amphitheaters, Phil Long Music Hall, The Hall at Bourbon Brothers, Bourbon Brothers Smokehouse and Tavern, Aikman Owners Clubs, and Roth’s Sea & Steak. With venues operating and in development across Colorado, Georgia, Oklahoma, and Texas and a nationwide expansion underway, VENU is setting a new standard for live entertainment. VENU has been recognized nationally by The Wall Street Journal, The New York Times, Billboard, VenuesNow, and Variety for its innovative and disruptive approach to live entertainment. Through strategic partnerships with industry leaders such as AEG Presents, NFL Hall of Famer and Founder of EIGHT Elite Light Beer, Troy Aikman, Billboard, Aramark Sports + Entertainment, Tixr, Boston Common Golf, Niall Horan, and Dierks Bentley, VENU continues to shape the future of the entertainment landscape. For more information, visit VENU’s website, Instagram, LinkedIn, or X. Forward Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or sta…Read full documentShow less
COLORADO SPRINGS, Colo., May 05, 2026--(BUSINESS WIRE)--Venu Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), owner, operator, and developer of premium live entertainment destinations, will host a conference call to discuss financial results and strategic initiatives for its fiscal first quarter ended March 31, 2026 on Friday, May 15 at 11:00 a.m. Eastern Time. The Company will issue a press release reporting its results prior to market opening. With two campuses open and operating, five markets under active development, and venue openings on the horizon, this is a pivotal moment for VENU. Join the VENU leadership team for a review of our fiscal first quarter 2026 financial results, key business highlights, and an update on the Company's strategic initiatives and growth outlook. Conference Call Details About Venu Holding Corporation Venu Holding Corporation ("VENU") (NYSE American: VENU) is a premier owner, developer, and operator of luxury, experience-driven entertainment destinations. Founded by Colorado Springs entrepreneur J.W. Roth, VENU has a portfolio of premium brands that includes Ford Amphitheater, Sunset Amphitheaters, Phil Long Music Hall, The Hall at Bourbon Brothers, Bourbon Brothers Smokehouse and Tavern, Aikman Owners Clubs, and Roth’s Sea & Steak. With venues operating and in development across Colorado, Georgia, Oklahoma, and Texas and a nationwide expansion underway, VENU is setting a new standard for live entertainment. VENU has been recognized nationally by The Wall Street Journal, The New York Times, Billboard, VenuesNow, and Variety for its innovative and disruptive approach to live entertainment. Through strategic partnerships with industry leaders such as AEG Presents, NFL Hall of Famer and Founder of EIGHT Elite Light Beer, Troy Aikman, Billboard, Aramark Sports + Entertainment, Tixr, Boston Common Golf, Niall Horan, and Dierks Bentley, VENU continues to shape the future of the entertainment landscape. For more information, visit VENU’s website, Instagram, LinkedIn, or X. Forward Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While Venu believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. Venu expressly disclaims any obligation to update or alter statements whether because of new information, future events or otherwise, except as required by law. View source version on businesswire.com: https://www.businesswire.com/news/home/20260505339561/en/ Contacts Investor Relations Sarah Rothschild, [email protected] Media Relations Chloe Polhamus, [email protected]
Investor releaseQuarter not tagged2026-04-01Venu Q4 Earnings Call Highlights
MarketBeat
Venu Q4 Earnings Call Highlights
Venu closed an $86 million raise and reported its portfolio was independently appraised at $1.24 billion as‑completed, while total assets on the balance sheet grew to $370 million, reflecting rapid balance‑sheet expansion. Luxe FireSuite and Aikman Club sales surged to $126 million in 2025 (up 62% YoY) with the new triple‑net leaseback model representing about 25% of those sales, even as consolidated revenue remained roughly flat at $17 million for the year. Venue development and booking momentum accelerated—amphitheater revenue rose 94% YoY, Ford Amphitheatre received Billboard recognition, and multiple venues are coming online (Tulsa this fall, Broken Arrow in fall 2026, McKinney in early 2027) with strong advance booking activity. Interested in Venu Holding Corporation? Here are five stocks we like better. Venu (NYSEAMERICAN:VENU) outlined a year of significant asset growth, expanded partnerships, and continued venue development during its full-year and fourth-quarter 2025 earnings call, while executives also addressed stock valuation concerns and provided a booking outlook for the 2026 amphitheater season. Founder, Chairman, and CEO J.W. Roth described 2025 as a year in which the company became “smarter, faster, more deliberate” about partnerships and where it deploys capital. Roth said the company closed an $86 million raise and reported that its portfolio was independently appraised at $1.24 billion on an as-completed basis, which he characterized as “just north of $12 a share, fully diluted.” → 3 Utility Stocks With Strong Dividends and Room to Run Higher Roth also pointed to rapid balance sheet growth, saying Venu had moved “from $83 million on the balance sheet to over $370 million on our balance sheet in the last 24 months.” He added that construction progress continued, noting that “steel went up” in both McKinney and Tulsa. According to Roth, Tulsa is targeting an opening “this coming fall,” with McKinney expected to follow “in the first quarter of 2027.” He also referenced a groundbreaking in El Paso. On the sales side, Roth highlighted Fire Suite sales of $126 million, up 62% year over year, and said the company’s triple-net model—launched in mid-2025—represented 25% of sales despite not existing a year earlier. Roth also said Venu planned to launch “the most ambitious sales campaign in our company’s history” on April 15, describing it as a nat…Read full documentShow less
Venu closed an $86 million raise and reported its portfolio was independently appraised at $1.24 billion as‑completed, while total assets on the balance sheet grew to $370 million, reflecting rapid balance‑sheet expansion. Luxe FireSuite and Aikman Club sales surged to $126 million in 2025 (up 62% YoY) with the new triple‑net leaseback model representing about 25% of those sales, even as consolidated revenue remained roughly flat at $17 million for the year. Venue development and booking momentum accelerated—amphitheater revenue rose 94% YoY, Ford Amphitheatre received Billboard recognition, and multiple venues are coming online (Tulsa this fall, Broken Arrow in fall 2026, McKinney in early 2027) with strong advance booking activity. Interested in Venu Holding Corporation? Here are five stocks we like better. Venu (NYSEAMERICAN:VENU) outlined a year of significant asset growth, expanded partnerships, and continued venue development during its full-year and fourth-quarter 2025 earnings call, while executives also addressed stock valuation concerns and provided a booking outlook for the 2026 amphitheater season. Founder, Chairman, and CEO J.W. Roth described 2025 as a year in which the company became “smarter, faster, more deliberate” about partnerships and where it deploys capital. Roth said the company closed an $86 million raise and reported that its portfolio was independently appraised at $1.24 billion on an as-completed basis, which he characterized as “just north of $12 a share, fully diluted.” → 3 Utility Stocks With Strong Dividends and Room to Run Higher Roth also pointed to rapid balance sheet growth, saying Venu had moved “from $83 million on the balance sheet to over $370 million on our balance sheet in the last 24 months.” He added that construction progress continued, noting that “steel went up” in both McKinney and Tulsa. According to Roth, Tulsa is targeting an opening “this coming fall,” with McKinney expected to follow “in the first quarter of 2027.” He also referenced a groundbreaking in El Paso. On the sales side, Roth highlighted Fire Suite sales of $126 million, up 62% year over year, and said the company’s triple-net model—launched in mid-2025—represented 25% of sales despite not existing a year earlier. Roth also said Venu planned to launch “the most ambitious sales campaign in our company’s history” on April 15, describing it as a nationwide effort across multiple forms of media. → Why Meta's "Bellwether" Legal Loss Could Open up a Can of Worms Will Hodgson, President, focused on booking and touring trends, starting with Ford Amphitheatre. Hodgson said amphitheater revenue grew 94% year over year, attributing the increase to 2024 being a partial season versus a full season running April through October in 2025. He said Venu expects in 2026 to “grow both the number of shows and the average ticket price year-over-year.” Hodgson also noted that Ford Amphitheatre was named to Billboard’s 2026 Top Music Venues list, appearing alongside venues such as Sphere, O2 Arena, and Allegiant Stadium, and said that recognition “changes conversations.” → 3 Edge AI Stocks to Watch as the Next Wave of AI Demand Builds Looking ahead, Hodgson said the Broken Arrow venue was “taking shape very quickly,” with a fall 2026 opening target. He said the company expected to begin announcing shows and putting events on sale within the next 6 to 8 weeks, and noted the venue is “an open room” with agreements in place with Live Nation and other promoters. Hodgson also said Venu’s planned 20,000-seat amphitheater in McKinney was “not far behind,” and that the company is already in early booking conversations with Live Nation for the Texas venue. In response to a question about 2026 industry conditions, Roth said the amphitheater season was “soft” industrywide last year, but he is seeing the opposite in 2026, with “more artists touring amps this year than there was last year,” which he described as a “fairly strong amp season.” Hodgson added that, versus last year’s pacing, “the amount of offers and pending offers out there is nearly double what we had last year.” He said Venu expected “another 15” shows over the next couple of months at Ford Amphitheatre and described ticket prices as “relatively flat” depending on the show, while noting per-show pacing in ticket sales was better than last year. For Tulsa, Hodgson said interest is strong given artists’ desire to open a building, and Venu may do “between 3 and 5 large outdoor shows, could be more” ahead of indoor configuration use as it targets a fall opening. He also pointed to “alternative programming” such as community events and movie nights as the company seeks to increase venue utilization. Vic Sutter, Chief Operating Officer, said 2025 was a year of “deliberate refinement” across the existing portfolio, with a focus on fan experience, margins, and scalability. Sutter said Notes Theater in Colorado Springs closed in July 2025, describing the move as discipline around prioritizing resources because the asset “did not fit the profile long term.” Sutter said Venu’s two music halls in Colorado Springs and Gainesville delivered “hundreds of ticketed events” in 2025, consistent with prior years, and said Gainesville continued to build momentum with artists and fans. He said Colorado Springs experienced softer venue rentals, and outlined steps being taken to address that, including refreshed programming strategies, hiring “a high-caliber director of private event sales,” and enhancing private event packages. He also highlighted the opening of The Ford, described as a $4.5 million Sunset Hospitality Group development adjacent to Ford Amphitheater, anchored by Roxy & Steak and Brohan’s, an upscale cocktail lounge. Sutter said Roxy & Steak opened in November with a sold-out grand opening weekend and has been recognized among the best wine programs in the Americas. He also said Venu aligned with experiential design firm Dimensional Innovations, referencing its work on Intuit Dome and Mercedes-Benz Stadium. Terri Liebler, President of Growth and Strategy, detailed multiple partnerships and investments. She said PepsiCo became the official beverage partner of Venu’s Sunset Amphitheater portfolio. She added that Aramark Sports + Entertainment expanded to five venues and made “an additional equity investment in the company,” and that Tixr became the ticketing and commerce partner across four indoor music halls, also backed by “their own capital commitment to Venu.” Liebler also cited additional relationships, including Sands Investment Group, Dimensional Innovations, Billboard, and Boston Common Golf. Liebler said naming rights represent a significant revenue opportunity and that conversations are “well underway,” though she said the company was not ready to announce details. She also pointed to artists and athletes involved with the company, stating that Niall Horan and Dierks Bentley are shareholders and founding members of Venu’s advisory council, and that Troy Aikman is a partner, shareholder, and Fire Suite owner. Chief Financial Officer Heather Atkinson reported that total assets rose to $370 million as of December 31, 2025, up $192 million, or 108%, from $178 million at December 31, 2024. Atkinson noted that several municipality developments sit at a $0 cost basis on the balance sheet because they are contributed assets recorded at basis under GAAP, rather than at mark-to-market value. She said the company’s $1.24 billion as-completed appraisal “reflects a more complete picture” of the portfolio’s value. Atkinson said property and equipment increased to $305 million as of December 31, 2025, up 123% from $137 million at the end of 2024. She also reiterated that Luxe FireSuite and Aikman Club sales reached $126 million for 2025, up from $77 million in 2024, and said the triple-net real estate leaseback model accounted for about 25% of total Fire Suite sales for the year. For the income statement, Atkinson said total revenue was $17 million for 2025, compared with $17.8 million in 2024. She also disclosed that the company completed a $14 million sale-leaseback of its Colorado Springs parking property in the fourth quarter, stating the related party generated a $6.6 million development profit while Venu retained operational control and a fixed-price repurchase option within three years. During the Q&A, Roth said he was frustrated by what he views as a disconnect between Venu’s stock price and its asset base, calling the stock “undervalued” versus total assets and unencumbered assets. He said the company has been working to bring on institutional holders and discussed building an investor relations plan, including the hiring of Sarah Rothschild, whom he said joined from MSG and Sphere. Roth said Venu planned to begin roadshows in early May to meet with institutional investors. On expansion, Robert Mudd, SVP of Construction and Market Expansion, said Venu and its expansion partners at Ryan, LLC were in active negotiations in 13 markets across Colorado, Texas, Florida, Tennessee, Kentucky, Indiana, and Ohio. He added the company had formal RFPs out to 17 markets and “active outreach” in 57 total locations, with a focus on strategic routing paths. Venu Holding Corporation is a premier hospitality and live music company dedicated to crafting luxury, experience-driven entertainment destinations. Venu Holding Corporation is based in COLORADO SPRINGS, Colo. The article "Venu Q4 Earnings Call Highlights" was originally published by MarketBeat.
Investor releaseQuarter not tagged2026-04-01Venu Holding Corporation Reports Its Annual 2025 and Fourth Quarter Results
Business Wire
Venu Holding Corporation Reports Its Annual 2025 and Fourth Quarter Results
Total assets increased to $370.5 million, up 108% or $192.1 million, from year-end 2024 COLORADO SPRINGS, Colo., March 31, 2026--(BUSINESS WIRE)--Venu Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), the visionary owner, operator, and developer of premium live entertainment destinations, announced today results for its fourth quarter and fiscal year ended December 31, 2025 "From the very beginning, we made a commitment," said JW Roth Founder, Chairman, and CEO of VENU, "To build something that would stand the test of time, perform at the highest level, and deliver value that speaks for itself. Today, we are doing exactly that. "The numbers tell the story. Our balance sheet has grown from $83 million to over $370 million in total assets in just 24 months. An independent appraisal of our completed and in development portfolio came in at $1.24 billion on an as completed basis (1). This is a business grounded in tangible assets, measured expansion, and thoughtful capital deployment. Patient capital wins. And we are building this for the long game. We know the market has been noisy. That is what early stages can look like for companies doing what we are doing. But here is what does not lie: steel went up in McKinney and Tulsa. Tulsa is targeted to open Fall 2026 and McKinney shortly after in Q1 2027. We opened our Sunset Hospitality Collection, the most sophisticated hospitality complex in our history. Luxe FireSuiteTM sales broke records again, and our triple net model, which barely existed at the start of 2025, already accounts for 25% of total sales. The market didn't just respond. It leaned in. "The live entertainment industry is evolving fast, and we are positioned to capitalize with residencies, immersive experiences, and AI-driven activations. The most profitable opportunities are going to the venues built to hold all of it. Our more than music strategy is not a pivot. It is how we stay ten steps ahead. "We grew our team with people who have seen what winning looks like and chose VENU anyway. World-class artists and athletes are becoming shareholders. Municipalities are knocking. And just this week we added an executive from MSG Entertainment and Sphere, because where we are going demands that level of firepower. "2026 is already proving the point. PepsiCo signed on as our official beverage partner. Ford Amphitheater made Billboard's 20…Read full documentShow less
Total assets increased to $370.5 million, up 108% or $192.1 million, from year-end 2024 COLORADO SPRINGS, Colo., March 31, 2026--(BUSINESS WIRE)--Venu Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), the visionary owner, operator, and developer of premium live entertainment destinations, announced today results for its fourth quarter and fiscal year ended December 31, 2025 "From the very beginning, we made a commitment," said JW Roth Founder, Chairman, and CEO of VENU, "To build something that would stand the test of time, perform at the highest level, and deliver value that speaks for itself. Today, we are doing exactly that. "The numbers tell the story. Our balance sheet has grown from $83 million to over $370 million in total assets in just 24 months. An independent appraisal of our completed and in development portfolio came in at $1.24 billion on an as completed basis (1). This is a business grounded in tangible assets, measured expansion, and thoughtful capital deployment. Patient capital wins. And we are building this for the long game. We know the market has been noisy. That is what early stages can look like for companies doing what we are doing. But here is what does not lie: steel went up in McKinney and Tulsa. Tulsa is targeted to open Fall 2026 and McKinney shortly after in Q1 2027. We opened our Sunset Hospitality Collection, the most sophisticated hospitality complex in our history. Luxe FireSuiteTM sales broke records again, and our triple net model, which barely existed at the start of 2025, already accounts for 25% of total sales. The market didn't just respond. It leaned in. "The live entertainment industry is evolving fast, and we are positioned to capitalize with residencies, immersive experiences, and AI-driven activations. The most profitable opportunities are going to the venues built to hold all of it. Our more than music strategy is not a pivot. It is how we stay ten steps ahead. "We grew our team with people who have seen what winning looks like and chose VENU anyway. World-class artists and athletes are becoming shareholders. Municipalities are knocking. And just this week we added an executive from MSG Entertainment and Sphere, because where we are going demands that level of firepower. "2026 is already proving the point. PepsiCo signed on as our official beverage partner. Ford Amphitheater made Billboard's 2026 Top Music Venues list. Roth's Sea & Steak was recognized among the best wine programs in the Americas. And remember, our most recent capital raise closed during one of the most volatile market stretches in recent memory. That is conviction. "The people paying attention right now are going to look back on this moment. The venues are coming. The content is evolving. The model is proven. The market is hungry. And we are just getting to the good part." Financial Highlights for the Fourth Quarter and Full Year Ended December 31, 2025 Total assets grew to $370.5 million as of December 31, 2025, up $192.1 million or 108% from $178.4 million at December 31, 2024. It is worth noting that several of our municipality developments sit at zero cost basis on our balance sheet rather than market to market value as they are contributed assets. An as-completed basis appraisal of $1.24 billion reflects a more complete picture of what this portfolio will actually be worth (1). Property and equipment increased to $305.9 million as of December 31, 2025, up 123% from $137.2 million at December 31, 2024. Luxe FireSuiteTM and Aikman Club sales reached $126.1 million for the full year ended December 31, 2025, representing a 62% increase over the $77.7 million generated in fiscal year 2024. Luxe FireSuiteTM sales through the Company's triple net real estate leaseback model, launched in early 2025, accounted for approximately 25% of total Luxe FireSuiteTM sales for the year, establishing the program as a rapidly emerging flagship ownership pathway. Total revenue of $17.9 million for the full year ended December 31, 2025, compared to $17.8 million for the full year ended December 31, 2024. The Company completed a $14 million sale leaseback of its Colorado Spring parking property in the fourth quarter of 2025 with a related party, generating a development profit of $6.6 million reflecting in the gain on sale of property in operating profits. Operational and Strategic Highlights for Q4 2025 and the Full Year 2025: Venue Development Structural steel rose at both Sunset Amphitheater McKinney, TX (20,000-seat, in the Dallas market) and Sunset Amphitheater Broken Arrow, OK. Subsequent to year end, the 134,000 square foot canopy roof was completed at Broken Arrow, bringing the 12,500-capacity venue on track for a fall 2026 opening, with shows expected to go on sale within the next six to eight weeks. Entered into a letter of intent to develop a multi-season entertainment destination planned for Webster, Texas in the Greater Houston MSA, marking VENU's entry into one of the nation's largest and fastest-growing markets. Announced a planned expansion to Centennial, Colorado with a new property acquisition, bringing VENU's indoor venue brand to the Denver metro market. The first brand in VENU’s portfolio to feature an indoor Luxe FireSuiteTM model. Later, closing on the property in February of 2026 and expecting construction to begin in the coming months. Finalized land acquisition and launched Luxe FireSuiteTM sales for the 12,500 seat Sunset Amphitheater El Paso, TX, backed by an expanded public private partnership with the City of El Paso. The City Council approved an expanded agreement, and the official groundbreaking ceremony was held in November 2025. Content & Experience Innovation Launched an omni content strategy across VENU's venue portfolio, intending to expand programming beyond traditional concerts to include residencies, AI productions, high end tribute experiences, theatrical productions, and original in- house shows designed to drive year-round venue utilization and fan engagement. Opened the Sunset Hospitality Collection at the Colorado Springs campus in November 2025, anchored by Roth's Sea & Steak, Brohan's cocktail lounge, and four luxury private event spaces, representing the Company's largest and most premium year-round hospitality destination to date. Selected Tixr as the official ticketing and integrated commerce partner across four of VENU's premium indoor music halls, backed by a capital commitment from Tixr into VENU, bringing a modern unified platform that elevates the fan experience from purchase to arrival. Luxe FireSuiteTM & Capital Innovation Delivered full year Luxe FireSuiteTM and Aikman Club sales of $126.1 million, establishing a new annual record and reflecting 62% growth over 2024's record setting $77.7 million. Posted $17.1 million in March of 2025 Luxe FireSuiteTM sales alone, a single month record at the time, followed by $23 million in sales over a record breaking 60-day window later in the year. The triple net real estate leaseback structure, introduced in mid-2025, surpassed early forecasts and accounted for approximately 25% of annual Luxe FireSuiteTM sales. Demand moved so fast we launched a dedicated national campaign to meet it, all while retaining premium ticket inventory for ongoing revenue generation. Completed a $30 million public offering in August 2025. Team & Leadership Expanded the executive team in 2025 with the additions of Vic Sutter as EVP of Operations and Tommy Ginoza to lead live entertainment programming, while promoting Terri Liebler to President of Growth and Strategy. Subsequent to year end, Vic Sutter was promoted to Chief Operating Officer and Will Hodgson was elevated to President of VENU. Rounding out its executive bench in early 2026, VENU added Sarah Rothschild as Senior Vice President of Strategic Finance and Investor Relations whose career spans MSG Entertainment and Sphere, two of the most recognized names in premium live entertainment. J.W. Roth was accepted into the Forbes Business Council, joined Newsmax, Bloomberg TV, Schwab Network, and Cheddar for live national interviews, was named to Billboard's 2025 Touring Power Players List, and received his second consecutive VenuesNow All Stars designation. Market Recognition & Brand Rang the NYSE Opening Bell in January 2025, celebrating VENU's fan founded, fan owned mission on the national stage. Welcomed global artists Niall Horan and Dierks Bentley as VENU shareholders and founding advisory council members, validation from the artist community of VENU's model and vision. Formed an industry alliance with Billboard, co-launching the inaugural ‘Disruptor Award’ at the Billboard Live Music Summit in Los Angeles, with the debut honor presented to Khalid by J.W. Roth and later awarding to PlaqueBoy Max in January of 2026 at Billboard’s Power 100 during the biggest week in music. Aramark Sports + Entertainment, which first partnered with VENU in June 2025 with an equity investment, expanded the relationship in early 2026 to cover five of our premium venues and made an additional equity investment, a powerful signal of continued conviction in our growth. Partnered with Boston Common Golf, the star-studded TGL team featuring Rory McIlroy, Keegan Bradley, Adam Scott, and Hideki Matsuyama, uniting two brands built around next generation fan engagement and immersive entertainment experiences. In 2025, the VENU story has been covered by some of the most respected names in business and entertainment media, with features in Billboard, Bloomberg, Newsmax, Cheddar, Pollstar, 5280 Magazine, and more. J.W. Roth was featured on the cover of Pollstar Magazine and profiled in 5280 Magazine. Subsequent Events: January through March 2026 Closed an $86.25 million capital raise in March 2026, significantly strengthening the Company's balance sheet, reinforcing its minimal debt strategy, and fueling national expansion. The raise was completed during a period of significant broader market volatility, reflecting strong institutional and retail investor conviction in VENU's long term growth strategy. Named PepsiCo as the Official Beverage Partner of VENU's Sunset Amphitheater portfolio in March 2026, with additional venues to follow as VENU expands nationwide. Ford Amphitheater was named to Billboard's 2026 Top Music Venues List, recognized as the Top West Coast Amphitheater alongside Sphere in Las Vegas, O2 Arena in London, and Allegiant Stadium, a powerful validation of VENU's premium venue standard heading into a strong 2026 concert season. Roth's Sea & Steak was recognized among the best wine programs in the Americas, receiving a Silver Star in the Best Newcomer category and a Bronze Star in the Best Medium Sized List category at the Star Wine List of the Year 2026 International Open, further establishing the Sunset Hospitality Collection as a world-class dining destination. Aligned with Dimensional Innovations, the experiential design firm behind Intuit Dome and Mercedes Benz Stadium, further elevating the premium design standard across VENU's venue portfolio. Conference Call Details About Venu Holding Corporation Venu Holding Corporation ("VENU") (NYSE American: VENU) is a premier owner, developer, and operator of luxury, experience-driven entertainment destinations. Founded by Colorado Springs entrepreneur J.W. Roth, VENU has a portfolio of premium brands that includes Ford Amphitheater, Sunset Amphitheaters, Phil Long Music Hall, The Hall at Bourbon Brothers, Bourbon Brothers Smokehouse and Tavern, Aikman Owners Clubs, and Roth’s Sea & Steak. With venues operating and in development across Colorado, Georgia, Oklahoma, and Texas and a nationwide expansion underway, VENU is setting a new standard for live entertainment. VENU has been recognized nationally by The Wall Street Journal, The New York Times, Billboard, VenuesNow, and Variety for its innovative and disruptive approach to live entertainment. Through strategic partnerships with industry leaders such as AEG Presents, NFL Hall of Famer and Founder of EIGHT Elite Light Beer, Troy Aikman, Aramark Sports + Entertainment, Tixr, Niall Horan, and Dierks Bentley. VENU continues to shape the future of the entertainment landscape. For more information, visit VENU’s website, Instagram, LinkedIn, or X. Forward Looking Statements Certain statements in this press release constitute "forward-looking statements" within the meaning of the federal securities laws. Words such as "may," "might," "will," "should," "believe," "expect," "anticipate," "estimate," "continue," "predict," "forecast," "project," "plan," "intend" or similar expressions, or statements regarding intent, belief, or current expectations, are forward-looking statements. While Venu believes these forward-looking statements are reasonable, undue reliance should not be placed on any such forward-looking statements, which are based on information available to us on the date of this release. These forward-looking statements are based upon current estimates and assumptions and are subject to various risks and uncertainties, including without limitation those set forth in the company’s filings with the SEC, not limited to Risk Factors relating to its business contained therein. Thus, actual results could be materially different. Venu expressly disclaims any obligation to update or alter statements whether because of new information, future events or otherwise, except as required by law. (1) Appraisal Disclosures These appraisals used the cost basis, income, and comparable sales approaches to valuation and, after reconciliation, came to the appraised values of the properties. These approaches to valuation are commonly used approaches to value for appraisal of commercial properties, as opposed to assigning a valuation on the properties based solely on the cost basis of the properties. The total appraisal for the Colorado Springs campus includes a 5.5-acre parking lot that was later sold through a sale-leaseback transaction in November 2025 for $14 million. At the time of the original appraisal, that parcel was valued at $9.2 million. It is important to understand that the appraisal of VENU’s properties takes into account, among other factors, the valuation of the Company’s real estate and developments at a specific point in time, and the appraised value is subject to (and likely to) change at any time, whether it increases or decreases, and such changes could be caused by macro and micro factors over which we have no control. The appraisal of the property portfolio is only an estimate of its value as to the date of the appraisal and based only on the specific appraisal methodologies and should not be relied upon as a measure of its realized value or the value at which any property could be sold to a third party. Other appraisal methodologies may yield materially different appraised value. Furthermore, the appraised value of the properties differs from the values assigned to it under generally accepted accounting principles in the United Stated ("GAAP"), which require the values of the properties to be valued at their cost basis for financial presentation purposes, and therefore the appraised values represent an unaudited measure that may not represent fair value, as defined under GAAP, and such values and appraisals are not, and will not be, subject to audit or other review procedures by our outside independent accountants. The opinions expressed in the appraisal are based on estimates and forecasts that are prospective in nature and subject to certain risks and uncertainties. Events may occur that could cause the performance of the properties to materially differ from the estimates utilized by the appraiser, such as changes in the economy, interest rates, capitalization rates, the financial strength of the live-music and entertainment industries, and the behavior of event attendees, investors, lenders, and municipalities. The Company reviews each appraisal of its properties to confirm that the information provided to the appraiser is accurately reflected in the appraisal, but it does not validate the methodologies, inputs, and professional judgment utilized by the certified appraiser. View source version on businesswire.com: https://www.businesswire.com/news/home/20260331841417/en/ Contacts VENU Media and Investor Relations Chloe Polhamus, [email protected]

