Venu Holding Corporation Reports First Quarter 2025 Financial Results
Total assets increased $34,000,000 to over $212,000,000
VENU Accelerates Expansion, Launches New Partnerships, and Strengthens Market Leadership
COLORADO SPRINGS, Colo.--(BUSINESS WIRE)--May 15, 2025--
Venu Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), a developer, owner, and operator of upscale live music venues and premium hospitality destinations, announced today its first quarter 2025 results for the period ended March 31, 2025.
"We entered 2025 with the pedal to the metal, and Q1 proved what we've known all along: our model works, our fans are hungry, and the market is ours to take," says J.W. Roth, Founder, Chairman, and CEO of VENU. "We had our strongest quarter yet in record-setting Luxe FireSuite sales, and a development pipeline that's firing on all cylinders across Texas, Oklahoma, Colorado, and beyond.
"We're transforming communities, not just with venues, but with full-scale entertainment ecosystems that generate jobs, drive tourism, and deliver unforgettable memories--year-round. From launching our game-changing multi-season amphitheater model to locking in partnerships with Ryan, Connect Partnership Group, and Sands Investment Group, we've built an engine designed to scale faster and smarter than anyone in the game.
"And the momentum? It's just getting started. We're planning to bring a state-of-the-art intimate concert hall and restaurant to Centennial, Colorado. We've doubled down in El Paso with an increased private investment commitment and an expanded development site. We're giving investors new ways to own a piece of all that we are building through NNN real estate, and our planned Reg A offering launching in a few weeks. And with industry legends like Vic Sutter and Tom Finke joining our team, our roster has never been stronger."
Roth continued, "VENU is redefining what live entertainment looks like across the nation. So, buckle up--because what's coming next is bigger, louder, and more world-class than anything this industry has ever seen."
First Quarter 2025 Financial Highlights
-- Total assets increased $34,464,672 at 19% to $212,882,187 as of March 31,
2025, up from $178,417,515 at December 31, 2024.
-- Property and equipment increased 33% to $182,906,195 as of March 31,
2025, up from $137,215,936 at December 31, 2024.
-- Luxe FireSuite and Aikman Club sales reached $38.7 million for the three
months ended March 31, 2025.
-- Since launching in late February, Venu's Luxe FireSuites
fractional ownership model--offering suite access at Sunset
McKinney and Sunset Broken Arrow with 25% down and 20-year
financing, has generated $12.5 million in sales through March 31,
2025, out of the $38.7 million total offering.
Operational Highlights for Q1 and Subsequent Events:
-- Launched a transformative multi-season venue configuration model,
enabling year-round operations across upcoming and future amphitheaters
in McKinney, TX; El Paso, TX; Broken Arrow, OK; and Oklahoma City, OK,
unlocking new revenue and margin expansion opportunities.
-- Under contract to acquire a strategic site in Centennial, Colorado, to
expand VENU's iconic mid-size indoor venue brand with plans to transform
the property into a $40 million entertainment campus featuring The Hall
at Bourbon Brothers and a Bourbon Brothers Smokehouse & Tavern.
-- This development also marks the debut of VENU's exclusive Luxe
FireSuite fractional ownership opportunities, bringing these
coveted experiences indoors for the first time.
-- Expanded partnership with the City of El Paso, with a $100 million
minimum investment commitment and securing a 20-acre development
footprint for the future Sunset Amphitheater El Paso, projected to open
in 2026.
-- Announced a strategic national expansion partnership with Ryan, LLC to
accelerate public-private partnership development, fast-tracking market
entry into top-performing U.S. growth markets.
-- Introduced a new structured financing model for Luxe FireSuites,
expanding access to exclusive ownership opportunities while driving
accelerated sales across the Company's expanding portfolio.
-- Partnered with Connect Partnership Group to lead corporate sponsorship
sales, enhancing VENU's ability to potentially capture new sponsorship
revenues across its expanding venue network.
-- Filed an Offering Statement under Regulation A1 for an anticipated
offering designed to offer institutional, and retail investors an
opportunity to own a piece of all that VENU is building through a tiered
ownership, not only delivering equity, but exclusive benefits at every
level.
-- Formed a nationwide partnership with Sands Investment Group to introduce
triple-net $(NNN)$ real estate investment opportunities in VENU's Luxe
FireSuites to qualified investors.
-- Expanded executive leadership with the appointment of Vic Sutter, a Live
Nation veteran, as Executive Vice President of Operations to drive
operational excellence, hospitality innovation, and premium guest
experiences.
-- Strengthened the Board of Directors with the appointment of financial
industry leader Thomas M. Finke, former Chairman and CEO of Barings, LLC,
to support corporate governance and capital markets strategy.
CONFERENCE CALL DETAILS
Thursday, May 15, 2025, 4:30 p.m. Eastern Time ------------------------------------------------------------------------------ USA/Canada Toll-Free Dial-In Number: (800) 715-9871 ------------------------------------------------------------------------------ International Toll Dial-In Number: +1 (646) 307-1963 ------------------------------------------------------------------------------ Conference ID: 9521412 ------------------------------------------------------------------------------ Webcast Replay - available through May 15, 2026, at https://investors.venu.live ------------------------------------------------------------------------------
About Venu Holding Corporation
Venu Holding Corporation ("VENU") (NYSE American: VENU), founded by Colorado Springs entrepreneur and 2023 VenuesNow All-star, J.W. Roth, is a premier hospitality and live music venue developer dedicated to crafting luxury, artist-centric, experience-driven entertainment destinations. VENU's campuses in Colorado Springs, Colorado, and Gainesville, Georgia, each feature Bourbon Brothers Smokehouse and Tavern, The Hall at Bourbon Brothers, and unique to Colorado Springs, Notes Eatery and the 9,570-seat Ford Amphitheater. Expanding with new multi-season Sunset Amphitheaters in Oklahoma and Texas, VENU's upcoming large-scale venues will host between 12,500 and 20,000 guests, continuing VENU's vision of redefining the premium live entertainment experience. Click here to view our company overview.
VENU has been recognized nationally by The Wall Street Journal, The New York Times, Denver Post, Billboard, VenuesNow, and Variety for its innovative and disruptive approach to live entertainment. Through strategic partnerships with industry leaders such as AEG Presents and NFL Hall of Famer and Founder of EIGHT Elite Light Beer, Troy Aikman, VENU continues to shape the future of the entertainment landscape. For more information, visit venu.live.
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 the Company 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. The Company expressly disclaims any obligation to update or alter statements whether as a result of new information, future events or otherwise, except as required by law.
(1) Legal Disclaimer: An offering statement related to these securities has been filed with the Securities and Exchange Commission but has not become qualified. These securities may not be sold nor may offers be accepted prior to the time the offering statement is qualified. No money or other consideration is being solicited in connection with this information, and if sent in response will not be accepted. No offer to buy the securities can be accepted and no part of the purchase price can be received until an offering statement on Form 1-A is qualified pursuant to Regulation A under the Securities Act of 1933, as amended, and any such offer may be withdrawn or revoked without obligation or commitment of any kind, at any time before notice of its acceptance given after the qualification date. Any person's indication of interest involves no obligation or commitment of any kind. A copy of the preliminary offering circular for the offering may be obtained on the SEC's web site under the Company's filings at www.sec.gov.
VENU HOLDING CORPORATION AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS
(in US Dollars)
As of
March 31, December 31,
2025 2024
------------- ---------------
ASSETS Unaudited Audited
Current assets
Cash and cash equivalents $ 24,663,106 $ 37,969,454
Inventories 201,027 225,283
Prepaid expenses and other current
assets 917,567 850,951
----------- -----------
Total current assets 25,781,700 39,045,688
Other assets
Property and equipment, net 182,906,195 137,215,936
Intangible assets, net 194,596 211,276
Operating lease right-of-use assets,
net 1,264,926 1,351,600
Investment in EIGHT Brewing 1,999,999 -
Investment in related party 550,000 550,000
Security and other deposits 184,771 43,015
----------- -----------
Total other assets 187,100,487 139,371,827
----------- -----------
Total assets $212,882,187 $178,417,515
=========== ===========
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable $ 5,791,249 $ 7,283,033
Accrued expenses 701,027 3,556,819
Accrued payroll and payroll taxes 287,287 262,387
Deferred revenue 2,004,606 1,528,159
Current portion of convertible
debt - 9,433,313
Current portion of operating lease
liabilities 367,705 364,244
Current portion of long-term debt 333,818 2,101,501
----------- -----------
Total current liabilities 9,485,692 24,529,456
Long-term portion of operating lease
liabilities 930,226 1,020,604
Long-term licensing liability and
other liabilities 8,800,000 7,950,000
Long-term convertible debt 15,488,291 -
Long-term debt, net of current portion 38,845,957 14,100,217
----------- -----------
Total liabilities $ 73,550,166 $ 47,600,277
Commitments and contingencies
Stockholders' Equity
Preferred stock, $0.001 par -
5,000,000 authorized, none issued
or outstanding - -
Common stock, $0.001 par -
144,000,000 authorized,
37,503,341 issued and outstanding
at March 31, 2025 and 37,471,465
issued and outstanding at
December 31, 2024 37,504 37,472
Class B common stock, $0.001 par -
1,000,000 authorized, 379,990
issued and outstanding at March
31, 2025 and December 31, 2024 379 379
Additional paid-in capital 145,253,067 144,546,368
Accumulated deficit (65,424,938) (47,361,208)
----------- -----------
$ 79,866,012 $ 97,223,011
Treasury Stock, at cost - 276,245
shares at March 31, 2025 and
December 31, 2024 (1,500,076) (1,500,076)
----------- -----------
Total Venu Holding Corporation and
subsidiaries equity $ 78,365,936 $ 95,722,935
Non-controlling interest 60,966,085 35,094,303
----------- -----------
Total stockholders' equity $139,332,021 $130,817,238
----------- -----------
Total liabilities and
stockholders' equity $212,882,187 $178,417,515
=========== ===========
VENU HOLDING CORPORATION AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(in US Dollars)
Unaudited
For the three months ended
------------------------------
March 31,
------------------------------
2025 2024
----------------------------------- ------------- ---------------
Revenues
Restaurant including food and
beverage revenue, net $ 2,044,916 $ 2,580,102
Event center ticket and fees
revenue, net 980,439 1,324,895
Rental and sponsorship revenue,
net 473,804 34,746
----------- -----------
Total revenues, net $ 3,499,159 $ 3,939,743
Operating costs
Food and beverage 497,840 604,555
Event center 724,064 591,282
Labor 998,947 1,067,398
Rent 364,377 296,458
General and administrative 6,740,311 4,174,817
Equity compensation 11,340,620 9,565,554
Depreciation and amortization 1,375,364 606,464
----------- -----------
Total operating costs $ 22,041,523 $ 16,906,528
Loss from operations $(18,542,364) $(12,966,785)
Other income (expense), net
Interest expense (1,050,372) (404,965)
Other expense - (2,500,000)
Interest income 127,486 25,731
Other income 32,500 30,000
----------- -----------
Total other expense, net (890,386) (2,849,234)
Net loss $(19,432,750) $(15,816,019)
=========== ===========
Net loss attributable to
non-controlling interests (1,369,020) (217,081)
Net loss attributable to
common stockholders $(18,063,730) $(15,598,938)
=========== ===========
Weighted average number of shares of
Class B common stock, outstanding,
basic and diluted 379,990 1,754,959
=========== ===========
Basic and diluted net loss per share
of Class B common stock $ (0.48) $ (0.47)
=========== ===========
Weighted average number of shares of
Class C common stock, outstanding,
basic and diluted - 26,790,416
=========== ===========
Basic and diluted net loss per share
of Class C common stock $ - $ (0.47)
=========== ===========
Weighted average number of shares of
Class D common stock, outstanding,
basic and diluted - 4,565,870
=========== ===========
Basic and diluted net loss per share
of Class D common stock $ - $ (0.47)
=========== ===========
Weighted average number of shares of
Common stock, outstanding, basic
and diluted 37,488,778 -
=========== ===========
Basic and diluted net loss per share
of Common stock $ (0.48) $ -
=========== ===========
VENU HOLDING CORPORATION AND SUBSIDIARIES
UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(in US Dollars)
For the three months ended March 31,
------------------------------------------
2025 2024
--------------------- -------------------
Net loss $ (19,432,750 ) $ (15,816,019 )
Adjustments to reconcile
net loss to net cash
used in operating
activities:
Equity issued for
interest on
convertible debt 218,760 -
Equity based
compensation 11,340,620 9,565,554
Project abandonment
loss - 143,285
Amortization of debt
discount 641,609 278,946
Non cash lease expense 92,107 123,240
Noncash financing
expense - 2,500,000
Depreciation and
amortization 1,375,364 606,464
Noncash interest - 25,206
Changes in operating
assets and liabilities:
Inventories 24,256 (31,961 )
Prepaid expenses and
other current assets (66,616 ) 73,205
Security deposit (141,756 ) (3,687,255 )
Accounts payable (1,491,784 ) 1,750,387
Accrued expenses (2,855,792 ) (141,381 )
Accrued payroll and
payroll taxes 24,900 14,073
Deferred revenue 476,447 (200,764 )
Operating lease
liabilities (92,350 ) (114,848 )
Licensing liabilities 850,000 2,200,000
---------------- ---------------
Net cash used in
operating
activities (9,036,985) (2,711,868)
---------------- ---------------
Cash flows from investing
activities
Purchase of property
and equipment (22,048,943) (8,946,836)
Investment in EIGHT
Brewing (1,999,999) -
---------------- ---------------
Net cash used in
investing
activities (24,048,942) (8,946,836)
---------------- ---------------
Cash flows from financing
activities
Proceeds from sale of
non-controlling interest
equity 15,967,250 10,375,000
Distributions to
non-controlling
shareholders (105,426) (124,050)
Principal payments on
long-term debt (82,245) (74,614)
Proceeds from issuance of
shares - 20,088,200
Proceeds from exercise of
warrants - 40
Payment of promissory
note (2,000,000) -
Receipt of convertible
promissory note 6,000,000 -
---------------- ---------------
Net cash
provided by
financing
activities 19,779,579 30,264,576
---------------- ---------------
Net (decrease) increase in
cash and cash equivalents (13,306,348) 18,605,872
Cash and cash equivalents,
beginning 37,969,454 20,201,104
---------------- ---------------
Cash and cash equivalents,
ending $ 24,663,106 $ 38,806,976
================ ===============
Cash paid for interest $ 139,119 $ 96,399
Supplemental disclosure of
non-cash operating,
investing and financing
activities:
Property acquired via
convertible debt $ - $ 3,521,976
Property acquired via
promissory note $ 25,000,000 $ -
Debt discounts - warrants $ 526,329 $ 3,000,140
View source version on businesswire.com: https://www.businesswire.com/news/home/20250515348627/en/
CONTACT: Media Relations
Chloe Hoeft
Venu Holding Corporation ("VENU")
719-895-5470
choeft@venu.live
(END) Dow Jones Newswires
May 15, 2025 16:24 ET (20:24 GMT)
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