EX-99.1 2 ex99-1.htm EX-99.1

 

Exhibit 99.1

 

 

Venu Holding Corporation Reports Second Quarter 2025 Financial Results

 

Total assets increased to $242.0 million, up 36% or $63.6 million, from year-end 2024

 

Colorado Springs, CO- August 14, 2025- (BUSINESS WIRE) 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 second quarter and six months results for the period ended June 30, 2025.

 

“This quarter was about execution and acceleration,” said J.W. Roth, Founder, Chairman & CEO of VENU.

 

“Our pipeline is roaring.” Roth continued. “We’re in conversations with 38 municipalities nationwide that are interested in seeing VENU within their community. We broke ground on our 20,000-seat year-round Sunset Amphitheater in McKinney and advanced key projects across Colorado, Oklahoma, and Texas. We are well on our way to opening three new outdoor amphitheaters in 2026 and one new indoor entertainment campus, with potentially four more in 2027.”

 

“Our capital strategy is equally robust. We’ve engaged Texas Capital Securities on private debt financing options intended to accelerate amphitheater construction, with expected total commitments of approximately $200 million. Demand for VENU’s long-term, income-producing Luxe FireSuite fractional ownerships is unlike anything we’ve seen before. Our triple-net real estate lease program, launched in May with Sands Investment Group, has exceeded our expectations. For a brand-new asset class, the reception has been phenomenal. We’ve already surpassed record FireSuite sales, and with projections pushing toward our goal of $200 million, it’s clear we’re building something that’s changing the game.”

 

“Here’s the deal: VENU is changing the live entertainment industry forever. From expanding our partnership with Aramark Sports + Entertainment to making waves with our Billboard announcement, every move is part of a bigger play. Behind the scenes, we are stacking our roster, scaling smarter, forging game-changing alliances, developing next-gen revenue models, and doing whatever it takes. What’s coming next will shatter expectations and redefine the industry as we know it. Here we go!”

 

Financial Highlights for the Second Quarter of 2025 and the Six-Month Period Ended June 30, 2025

 

Total assets increased to $242.0 million, up $63.6 million or 36%, as of June 30, 2025, from $178.4 million at December 31, 2024.

 

Property and equipment increased to $199.2 million, up $62.0 million or 45%, as of June 30, 2025, from $137.2 million at December 31, 2024.

 

Luxe FireSuite and Aikman Club sales reached $61.3 million through June 30, 2025, up $15.5 million or 34%, from $45.8 million from June 30, 2024. This included sales of Luxe FireSuites through traditional cash sales, fractional financing, and the start of triple-net lease interests in FireSuites, as well.

 

Total revenue of $4,487,307 rose 7% or $312,069 for the three months ended June 30, 2025 compared to the three months ended June 30, 2024 of $4,175,238. The overall increase in the three months ended June 30, 2025 was primarily attributable to Ford Amphitheater being open in the three months ended June 30, 2025 compared to not yet being open for the three months ended June 30 2024.

 

 

 

 

Amphitheater operations generated net revenue to Venu (defined as profit after Venu’s split with AEG Presents Rocky Mountains, the operator of the amphitheater), with receipts from our naming rights agreements (which are outside of Venu’s AEG partnership agreement), combined for $597,712 for the three months ended June 30, 2025.

 

Over the 2025 season of 10 shows at Ford Amphitheater through June 30, 2025, this location generated gross receipts of $4.7 million. These gross receipts, which are inclusive of ticket sales, concessions, ticketing fees, premium upgrades, as well as other receipts, are subject to the split with AEG.

 

The Ford Amphitheater had more than 35,000 attendees for the first 10 shows through June 30, 2025, with an average ticket price of $135.

 

Operational Highlights for Q2 and Subsequent Events:

 

May 2025

 

Kicked off the first full season of the Pollstar-nominated Ford Amphitheater in Colorado Springs, CO, completing the first 10 shows on the path to a full calendar outdoor concert season.

 

June 2025

 

In partnership with the City of McKinney, the McKinney Economic Development Corporation, and the McKinney Community Development Corporation, held a grand groundbreaking ceremony for the ultra-lux 20,000-seat Sunset Amphitheater powered by EIGHT Elite Light Beer, marking a new area for live music in North Texas. The event featured a legendary song swap from some of Texas’s most beloved singer-songwriters, Robert Earl Keen and Turnpike Troubadours’ Evan Felker
Announced a three-year industry alliance with global music authority, Billboard, to spotlight our fan-founded, fan-owned model through high-profile collaborative industry experiences. At the forefront of the partnership is the newly minted ‘Disruptor Award,’ presented by VENU to honor artists, creators, and industry leaders with bold ideas shaping the future of music, inspired by VENU Founder, Chairman, and CEO, J.W. Roth.
Formed a multi-venue partnership, including an equity investment in VENU with Aramark Sports + Entertainment, to deliver a market-leading standard for guest experiences across flagship amphitheaters in Oklahoma, Texas, and Colorado. Under the agreement, Aramark will provide food and beverage, retail, and facilities management services, enhancing VENU’s signature premium fan-first offerings such as Luxe FireSuites and the members-only Aikman and Owners’ Clubs.

 

July 2025

 

Appointed Texas Capital Securities as exclusive financial advisor to arrange approximately $200 million in potential private capital debt financing intended to accelerate amphitheater construction in Texas and Oklahoma. Supporting a significant backlog of Luxe Firesuite receivables, having sold more than $75 million in 2024, and expected to reach $200 million outside of triple-net (NNN) real estate lease opportunities in 2025.
As announced back in May, VENU’s partnership with Sands Investment Group to offer triple-net (NNN) real estate lease opportunities for Luxe FireSuites has generated extraordinary demand, surpassing expectations. Based on the early trajectory, the program is projected to deliver more than $100 million in additional annual capital.

 

 

 

 

Conference Call Details

 

Thursday, August 14, 2025, at 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
Conference Call Replay - available through August 14, 2026, at https://investors.venu.live

 

About Venu Holding Corporation

 

Venu Holding Corporation (“VENU”) (NYSE American: VENU), founded by Colorado Springs entrepreneur J.W. Roth, is a premier hospitality and live music venue developer dedicated to building luxury, 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, the more than 9,000-seat Ford Amphitheater and Roth’s Sea and Steak. Expanding with new 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 live entertainment experience. Click here for 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’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 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 and reports 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.

 

Contacts

 

Media Relations - Venu Holding Corporation (“VENU”)

Venu@giantnoise.com

 

Investor Relations - Venu Holding Corporation (“VENU”)

Chloe Hoeft, choeft@venu.live

 

 

 

 

VENU HOLDING CORPORATION AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(in US Dollars)

 

   As of 
   June 30,   December 31, 
   2025   2024 
   Unaudited   Audited 
ASSETS      
Current assets          
Cash and cash equivalents  $37,431,978   $37,969,454 
Inventories   194,117    225,283 
Prepaid expenses and other current assets   1,242,140    850,951 
Total current assets   38,868,235    39,045,688 
Other assets          
Property and equipment, net   199,201,653    137,215,936 
Intangible assets, net   177,917    211,276 
Operating lease right-of-use assets, net   1,174,192    1,351,600 
Investment in EIGHT Brewing   1,999,999    - 
Investment in related parties   555,262    550,000 
Security and other deposits   68,265    43,015 
Total other assets   203,177,288    139,371,827 
Total assets  $242,045,523   $178,417,515 
           
LIABILITIES AND STOCKHOLDERS’ EQUITY          
Accounts payable  $4,501,312   $7,283,033 
Accrued expenses   6,808,828    3,556,819 
Accrued payroll and payroll taxes   156,709    262,387 
Deferred revenue   1,888,889    1,528,159 
Current portion of convertible debt   -    9,433,313 
Current portion of operating lease liabilities   363,937    364,244 
Current portion licensing liability   223,333    - 
Current portion of long-term debt   337,938    2,101,501 
Total current liabilities   14,280,946    24,529,456 
           
Long-term portion of operating lease liabilities   842,775    1,020,604 
Long-term licensing liability and other liabilities   8,483,056    7,950,000 
Long-term convertible debt   2,990,175    - 
Long-term debt, net of current portion   41,480,226    14,100,217 
Total liabilities  $68,077,178   $47,600,277 
Commitments and contingencies - See Note 14          
Mezzanine Equity          
Contingently Redeemable Convertible Cumulative Series B Preferred Stock, $0.001 par-675 authorized,675 issued and outstanding at June 30, 2025  $10,125,000   $- 
Stockholders’ Equity          
Preferred stock, $0.001 par - 5,000,000 authorized, none issued or outstanding   -    - 
Series A Preferred Stock, $0.001 par - 4,750,000 authorized, none issued outstanding at June 30, 2025   -    - 
Common stock, $0.001 par - 144,000,000 authorized, 40,080,292 issued and outstanding at June 30, 2025 and 37,471,465 issued and outstanding at December 31, 2024   40,080    37,472 
Class B common stock, $0.001 par - 1,000,000 authorized, 379,990 issued and outstanding at June 30, 2025 and December 31, 2024   379    379 
Additional paid-in capital   168,490,516    144,546,368 
Accumulated deficit   (76,842,171)   (47,361,208)
   $91,688,804   $97,223,011 
Treasury Stock, at cost - 276,245 shares at June 30, 2025 and December 31, 2024   (1,500,076)   (1,500,076)
Total Venu Holding Corporation and subsidiaries equity  $90,188,728   $95,722,935 
Non-controlling interest   73,654,617    35,094,303 
Total stockholders’ equity  $163,843,345   $130,817,238 
Total liabilities and stockholders’ equity  $242,045,523   $178,417,515 

 

 

 

 

VENU HOLDING CORPORATION AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in US Dollars)

Unaudited

 

   For the three months ended   For the six months ended 
   June 30,   June 30, 
   2025   2024   2025   2024 
Revenues                    
Restaurant including food and beverage revenue, net  $2,545,178   $2,824,092   $4,590,094   $5,404,194 
Event center ticket and fees revenue, net   1,274,312    1,335,761    2,254,751    2,660,656 
Rental and sponsorship revenue, net   667,817    15,385    1,141,621    50,131 
Total revenues, net  $4,487,307   $4,175,238   $7,986,466   $8,114,981 
Operating costs                    
Food and beverage   613,546    643,857    1,111,386    1,248,412 
Event center   929,498    700,188    1,653,562    1,291,470 
Labor   1,118,884    1,138,564    2,117,831    2,205,962 
Rent   409,959    421,678    774,336    642,564 
General and administrative   8,463,946    325,473    15,204,257    8,574,962 
Equity compensation   1,883,762    4,688,372    13,224,382    10,254,826 
Depreciation and amortization   1,374,412    609,329    2,749,776    1,215,793 
Total operating costs  $14,794,007   $8,527,461   $36,835,530   $25,433,989 
                     
Loss from operations  $(10,306,700)  $(4,352,223)  $(28,849,064)  $(17,319,008)
                     
Other income (expense), net                    
Interest expense   (2,008,284)   (1,150,221)   (3,058,656)   (1,555,186)
Other expense   (45,725)   -    (45,725)   (2,500,000)
Interest income   24,291    200,779    151,777    226,510 
Other income   32,824    32,500    65,324    62,500 
Total other expense, net   (1,996,894)   (916,942)   (2,887,280)   (3,766,176)
                     
Net loss  $(12,303,594)  $(5,269,165)  $(31,736,344)  $(21,085,184)
                     
Net loss attributable to non-controlling interests   (886,361)   (748,066)   (2,255,381)   (965,147)
                     
Preferred stock dividend   16,875    -    16,875    - 
                     
Net loss attributable to common stockholders  $(11,400,358)  $(4,521,099)  $(29,464,088)  $(20,120,037)
                     
Weighted average number of shares of Class B common stock, outstanding, basic and diluted   379,990    383,737    379,990    1,069,348 
Basic and diluted net loss per share of Class B common stock  $(0.30)  $(0.13)  $(0.77)  $(0.59)
                     
Weighted average number of shares of Class C common stock, outstanding, basic and diluted   -    64,115    -    13,427,266 
Basic and diluted net loss per share of Class C common stock  $-   $(0.13)  $-   $(0.59)
                     
Weighted average number of shares of Class D common stock, outstanding, basic and diluted   -    34,901,392    -    19,733,631 
Basic and diluted net loss per share of Class D common stock  $-   $(0.13)  $-   $(0.59)
                     
Weighted average number of shares of Common stock, outstanding, basic and diluted   37,984,523    -    37,738,020    - 
Basic and diluted net loss per share of Common stock  $(0.30)  $-   $(0.77)  $- 

 

 

 

 

VENU HOLDING CORPORATION AND SUBSIDIARIES

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in US Dollars)

 

   For the six months ended June 30, 
   2025   2024 
Net loss  $(31,736,344)  $(21,085,184)
Adjustments to reconcile net loss to net cash used in operating activities:          
Equity issued for interest on debt   291,680    229,400 
Equity based compensation   13,024,382    3,255,506 
Equity issued for services   277,900    7,000,000 
Project abandonment loss   -    668,402 
Amortization of debt discount   2,332,923    1,134,815 
Non cash lease expense   184,741    268,635 
Depreciation and amortization   2,749,776    1,215,793 
Noncash financing expense   -    2,500,000 
Non cash interest   496,583    - 
Changes in operating assets and liabilities:          
Inventories   31,166    (25,922)
Prepaid expenses and other current assets   (391,189)   (28,097)
Security deposit   (25,250)   325,026 
Accounts payable   (2,781,721)   7,829,502 
Accrued expenses   3,235,134    (142,528)
Accrued payroll and payroll taxes   (105,678)   (98,149)
Deferred revenue   360,730    506,378 
Operating lease liabilities   (185,469)   (235,819)
Licensing liabilities   756,389    2,800,000 
Net cash used in operating activities   (11,484,247)   6,117,758 
Cash flows from investing activities          
Purchase of property and equipment   (37,211,382)   (31,259,314)
Investment in EIGHT Brewing   (1,999,999)   - 
Investment in related party   (5,262)   - 
Cash acquired in acquisition of 13141 BP   -    74,085 
Net cash used in investing activities   (39,216,643)   (31,185,229)
Cash flows from financing activities          
Proceeds from sale of non-controlling interest equity   24,454,237    22,895,000 
Proceeds from issuance of Contingently Redeemable Convertible Cumulative Series B Preferred Stock   10,125,000    - 
Distributions to non-controlling shareholders   (251,785)   (271,132)
Principal payments on long-term debt   (164,038)   (153,001)
Proceeds from issuance of shares   -    25,251,341 
Proceeds from exercise of warrants   -    52 
Payment for personal guarantee on convertible debt   -    (100,000)
Payment of promissory note   (2,000,000)   - 
Receipt of convertible promissory note   18,000,000    - 
Net cash provided by financing activities   50,163,414    47,622,260 
Net (decrease) increase in cash and cash equivalents   (537,476)   22,554,789 
Cash and cash equivalents, beginning   37,969,454    20,201,104 
Cash and cash equivalents, ending  $37,431,978   $42,755,893 
Cash paid for interest  $230,467   $189,992 
Supplemental disclosure of non-cash operating, investing and financing activities:          
Property acquired via convertible debt  $-   $10,000,000 
Property acquired via promissory note  $25,000,000   $- 
Conversion of convertible debt and interest to common equity  $25,000,000   $- 
Debt discounts - warrants  $1,486,329   $3,000,140 
Accrued preferred stock dividends  $16,875   $-