Venu Holding Corp

Listed Company

VENUCIK 0001770501NYSEEmerging GrowthServices-Amusement & Recreation ServicesColoradoFY ends Dec 31

Period

FY 2025

Revenue

$17.90M

Net Income

$-44.09M

Total Assets

$370.56M

Equity

$122.74M

Shares Out

60.04M

Op. Cash Flow

$7.65M

Business

Venu Holding Corp is an entertainment and hospitality holding company that designs, develops, owns, and operates upscale music venues, outdoor amphitheaters, restaurants, bars, and hospitality spaces where music, dining, and luxury experiences converge. Its primary offerings include indoor music halls, open‑air amphitheaters, full‑service and fine‑dining restaurants, craft cocktail bars, VIP firepit suites, and configurable hospitality suites for events. The company organizes operations through subsidiaries and venue‑specific operating entities, and partners with third‑party operators and sponsors. Venu develops and operates venues across multiple U.S. markets, leveraging public‑private municipal partnerships and online ticketing, sponsorship, and venue‑rental channels.

Summary from filing dated 2025-03-31

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Total revenues, net	18	18	13
Food and beverage	2	2	2
Event center	4	3	1
Labor	5	4	4
Rent	2	1	815,233
General and administrative	37	19	12
Equity compensation	15	12	—
Depreciation and amortization	6	4	2
Total operating costs	71	45	24
Gain on sale of property ($6,608,315 gain from related party transaction)	7	—	—
Loss from operations	−46	−27	−11
Interest expense, net	−5	−3	−331,674
Other expense	−199,168	−3	—
Other income	135,000	130,387	132,500
Total other income (expense), net	−5	−6	−254,625
Net loss	−51	−33	−11
Net loss attributable to non-controlling interests	−7	−3	−862,320
Net loss attributable to Venu	−44	−30	−11
Preferred stock dividend	223,875	—	—
Net loss attributable to common stockholders	−44	−30	—
Weighted average number of shares of Common stock, outstanding, basic	40	12	—
Weighted average number of shares of Common stock, outstanding, diluted	40	12	—
Basic net loss per share of Common stock	−1.1	−0.86	—
Diluted net loss per share of Common stock	−1.1	−0.86	—

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2022 2022-12-31
Cash and cash equivalents	41	38	20	—
Inventories	474,467	225,283	185,746	—
Prepaid expenses and other current assets	3	850,951	209,215	—
Total current assets	44	39	21	—
Property and equipment, net	306	137	58	—
Intangible assets, net	144,558	211,276	277,995	—
Operating lease right-of-use assets, net	17	1	4	—
Security and other deposits	183,582	43,015	375,904	—
Total other assets	326	139	63	—
Total assets	371	178	83	—
Accounts payable	25	7	3	—
Accrued expenses	28	4	698,369	—
Accrued payroll and payroll taxes	577,360	262,387	331,457	—
Deferred revenue	2	2	764,081	127,291
Current portion of convertible debt	—	9	—	—
Current portion of operating lease liabilities	605,261	364,244	230,952	—
Current portion licensing liability	223,333	—	—	—
Current portion NNN firesuite liability	1	—	—	—
Current portion of long-term debt	400,108	2	325,245	—
Total current liabilities	57	25	5	—
Long-term portion of operating lease liabilities	17	1	4	—
Long-term licensing liability and other liabilities	9	8	2	—
Long-term convertible debt	2	—	—	—
Long-term NNN firesuite liability	30	—	—	—
Long-term debt, net of current portion	57	14	11	—
Total liabilities	172	48	21	—
Commitments and contingencies - See Note 16	—	—	—	—
Additional paid-in capital	222	145	48	—
Accumulated deficit	−91	−47	−17	—
Stockholders' Equity before Treasury Stock	131	97	31	—
Treasury Stock, at cost - 752,435 shares at December 31, 2025 and 276,245 shares at December 31, 2024	−8	−2	−76	—
Total Venu Holding Corporation and subsidiaries equity	123	96	31	—
Non-controlling interest	66	35	31	—
Total stockholders equity	189	131	62	39
Total liabilities and stockholders equity	371	178	83	—

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31
Gain on sale of property ($6,608,315 gain from related party transaction)	−7	—	—
Equity issued for interest on debt	1	766,920	—
Equity based compensation	15	12	—
Equity issued for services	277,900	—	—
Amortization of debt discount	916,681	3	4,544
Noncash lease expense	532,187	498,808	486,924
Noncash financing expense	—	3	—
Project abandonment loss	—	668,403	—
Noncash interest and debt discount	275,514	—	—
Inventories	−249,184	−39,537	−98,591
Prepaid expenses and other current assets	−2	−641,736	88,579
Security and other deposits	−140,567	332,889	−225,904
Accounts payable	18	5	745,259
Accrued expenses	24	3	334,840
Accrued payroll and payroll taxes	314,973	−69,070	−73,542
Deferred revenue	14,405	764,078	636,790
Operating lease liabilities	−471,156	−465,890	−452,759
Licensing liability	1	6	2
Net cash provided by operating activities	8	4	−5
Purchase of property and equipment	−142	−72	−31
Investment in EIGHT Brewing	−2	—	—
Investment in related party	−5,262	—	—
Proceeds from sale of 13141 BP	3	—	—
Proceeds from gain on sale of property - related party	8	—	—
Net cash acquired from acquisition of 13141 BP	—	74,085	—
Net cash used in investing activities	−133	−72	−31
Receipt of convertible promissory note	18	—	—
Receipt of short-term promissory note	—	−10,000	—
Proceeds from NNN firesuite liability	31	0	—
Proceeds from municipality promissory note	—	6	—
Proceeds from issuance of Contingently Redeemable Convertible Cumulative Series B Preferred Stock	10	—	—
Proceeds from issuance of shares	33	32	17
IPO issued	—	13	—
Proceeds from exercise of warrants	345,100	52	82,600
Proceeds from sale of non-controlling interest equity	42	38	17
Acquisition of treasury stock	—	−2	—
Principal payments on long-term debt	−382,750	−313,136	−224,386
Payment of promissory note	−2	—	—
Payment for personal guarantee on convertible debt	—	−100,000	—
Distributions to non-controlling shareholders	−3	−934,435	—
Net cash provided by financing activities	129	86	33
Net increase in cash and cash equivalents	3	18	−3
Cash paid for interest	621,391	406,483	305,169
Cash paid for income taxes	—	—	—
Property acquired via promissory note	43	—	—
Right-of-Use Assets obtained in exchange for operating lease liabilities	16	471,476	—
Conversion of convertible debt and interest to common equity	25	—	—
Debt discounts - warrants	1	3	—
Accrued preferred stock dividends	223,875	—	—
Acquisition of treasury stock from sale of property - related party	6	—	—
Property acquired via convertible debt	—	10	—
Property acquired via short-term promissory note	—	2	—
Land returned in exchange for termination of promissory note payable	—	3	—
Debt discount - suite granted to lender	—	200,000	—
Equity issued for origination fee	—	100,000	—

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