Venu Holding Corporation Reports Third Quarter 2025 Financial Results

COLORADO SPRINGS, Colo.--( BUSINESS WIRE)--Venu Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), the visionary owner, operator and builder of upscale live music venues and premium hospitality destinations, announced today results for its third quarter and the nine-month period ended September 30, 2025.

Total assets increased to $314.8 million, up 76% or $136.3 million, from year-end 2024

“This quarter marks a defining moment for VENU,” said J.W. Roth, Founder, Chairman, and Chief Executive Officer of VENU. “From day one, we said we would do things differently and that we would dream bigger, move faster, and build smarter. Now we’re watching that vision take shape across every part of the business. Fans, investors, artists, creators, and peers across the industry have shown unwavering confidence in what we’re building. We’ve welcomed globally recognized artists as shareholders and advisors, strengthened relationships with municipalities across the nation, and watched ownership in VENU grow beyond expectations. This quarter shows the strength of our model, and the market is ready for the new era we’re ushering in.

“We are deep into a major content evolution, creating programming that’s immersive, unexpected, and powered by our multi-seasonal, multi-configurational technology. Our new ‘omni-content’ strategy aims to keep venues active and relevant year-round with residencies, theatrical productions, and original in-house shows above and beyond typical concert and private event programming. To move this initiative forward, we took steps toward a strategic partnership with Primary Wave Music, the leading publisher of iconic and legendary music, to bring artist-inspired experiences to its premium entertainment venues nationwide. Marking a significant leap forward in our ability to deliver bold, high-impact content.

“We expanded our national footprint by welcoming two globally recognized artists, Niall Horan and Dierks Bentley into our shareholder family and advisory council. We further elevated our presence on the global stage by presenting the inaugural ‘Billboard Disruptor Award’ in Los Angeles to Khalid, celebrating his vision, which like VENU’s continues to push the industry forward.

“We also demonstrated the financial strength of our model through key real estate milestones. The independent appraisal of our Colorado Springs campus came in at $186 million (1), a 46% increase over cost, reinforcing the underlying value of the platform we’re building. In addition, we executed a sale-leaseback on our primary parking structure, generating over $6.2 million in development profit while maintaining full operational control. These achievements underscore the discipline and scalability of our growth strategy.

“Luxe FireSuite sales are stronger than ever. Since launching our triple-net structure earlier this year, momentum has surged with a $33.5 million year-over-year increase. The program continues to attract investors and music fans nationwide who see the value in our model.

“As we move toward our goal of 40 total locations by 2030, we are equally energized by our municipal pipeline, holding conversations with 48 municipalities across the country interested in making VENU part of their community.

“This was a defining quarter, one that showed VENU is agile, strong, and built for what comes next. Our balance sheet is strong and largely unencumbered. We are building a legacy one venue, one artist, one partnership, and one fan at a time. The future is here. We are playing to win. And we are just getting started,” Roth continued.

Financial Highlights for the Third Quarter of 2025 and the Nine-Month Period Ended September 30, 2025

Recent Performance Highlights and Announcements.

Conference Call Details

Friday, November 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 November 14, 2026, at https://investors.venu.live

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, 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.

September 30,

December 31,

2025

2024

58,181,816

37,969,454

188,898

225,283

2,378,293

850,951

60,749,007

39,045,688

250,191,115

137,215,936

161,238

211,276

1,082,434

1,351,600

1,999,999

555,262

550,000

68,265

43,015

254,058,313

139,371,827

314,807,320

178,417,515

24,035,687

7,283,033

1,573,016

3,556,819

848,172

262,387

2,016,391

1,528,159

9,433,313

344,992

364,244

223,333

656,700

352,367

2,101,501

30,050,658

24,529,456

768,894

1,020,604

8,826,856

7,950,000

1,865,115

10,150,217

56,694,690

14,100,217

108,356,430

47,600,277

10,125,000

43,249

37,472

379

205,812,053

144,546,368

(83,203,658

)

(47,361,208

)

122,652,023

97,223,011

(1,500,076

)

(1,500,076

)

121,151,947

95,722,935

75,173,943

35,094,303

196,325,890

130,817,238

314,807,320

178,417,515

September 30,

2025

2024

2025

2024

2,269,005

2,740,411

6,859,098

8,144,605

2,764,796

2,002,572

5,019,548

4,663,228

350,953

708,992

1,492,573

759,123

5,384,754

5,451,975

13,371,219

13,566,956

546,672

653,178

1,658,058

1,901,590

924,061

435,841

2,577,623

1,727,311

1,157,747

1,152,909

3,275,576

3,358,871

399,704

333,192

1,174,038

975,756

9,815,684

4,777,577

25,019,942

20,351,859

1,181,841

671,819

14,406,223

3,927,325

1,330,893

1,103,720

4,080,668

2,319,513

15,356,602

9,128,236

52,192,128

34,562,225

(9,971,848

)

(3,676,261

)

(38,820,909

)

(20,995,269

)

338,935

(886,211

)

(2,567,947

)

(2,214,887

)

(156,362

)

(202,087

)

(2,500,000

)

497,082

35,000

562,406

97,500

679,655

(851,211

)

(2,207,628

)

(4,617,387

)

(9,292,193

)

(4,527,472

)

(41,028,537

)

(25,612,656

)

(2,930,706

)

(595,251

)

(5,186,085

)

(1,560,398

)

(6,361,487

)

(3,932,221

)

(35,842,452

)

(24,052,258

)

103,500

120,375

(6,464,987

)

(3,932,221

)

(35,962,827

)

(24,052,258

)

379,990

383,656

379,990

839,116

(0.15

)

(0.13

)

(0.91

)

(0.58

)

20,997

9,027,155

(0.13

)

(0.58

)

25,879,401

21,805,264

(0.13

)

(0.58

)

41,355,312

3,282,150

38,957,034

9,775,099

(0.15

)

(0.13

)

(0.91

)

(0.58

)

2025

2024

(41,028,537

)

(25,612,656

)

(288,668

)

291,680

448,150

14,377,550

3,927,325

277,900

7,000,000

2,092,367

1,985,568

276,967

268,635

4,080,668

2,319,513

2,500,000

579,981

(294,523

)

36,385

(41,125

)

(1,527,342

)

(2,332,721

)

(25,250

)

325,026

16,752,654

3,233,914

(2,104,178

)

12,439,542

585,785

(14,530

)

488,232

1,445,026

(278,763

)

(235,641

)

1,100,189

5,100,000

(5,186,884

)

13,336,007

(76,428,062

)

(61,615,767

)

(1,999,999

)

(5,262

)

2,627,990

74,085

(75,805,333

)

(61,541,682

)

18,000,000

10,757,500

6,200,000

10,125,000

32,949,101

30,426,503

345,100

33,730,750

29,900,282

(1,500,000

)

(245,966

)

(232,327

)

(2,000,000

)

(100,000

)

(2,456,906

)

(893,082

)

101,204,579

63,801,428

20,212,362

15,595,753

37,969,454

20,201,104

58,181,816

35,796,857

390,690

296,593

37,000,000

25,928,296

1,486,329

3,000,140

120,375

10,000,000

3,267,000

471,476

200,000

100,000