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Venu Holding Corporation Reports Its 2024 Annual Results

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Venu Holding (NYSE: VENU) reported strong financial results for fiscal year 2024, with total assets increasing 114% to $178.4 million. The company's Luxe FireSuite sales reached $77.7 million, representing a 250% increase from 2023.

Total annual revenue rose 42% to $17.8 million, driven by restaurant operations growth of 14% and event center operations growth of 74%. The flagship Ford Amphitheater in Colorado Springs generated $15.2 million in gross receipts during its inaugural season, hosting over 112,000 fans across 20 shows with an average ticket price of $156.

Key developments include successful IPO raising $12.3 million, groundbreaking of new amphitheaters in Broken Arrow and El Paso ($105 million project), and property acquisition in McKinney for a 20,000-seat venue. The company expects operational profitability by 2026 with the opening of three major venues.

Venu Holding (NYSE: VENU) ha riportato risultati finanziari solidi per l'anno fiscale 2024, con un aumento del 114% degli attivi totali, arrivando a $178,4 milioni. Le vendite delle Luxe FireSuite hanno raggiunto i $77,7 milioni, rappresentando un incremento del 250% rispetto al 2023.

Il fatturato annuale totale è aumentato del 42%, raggiungendo i $17,8 milioni, sostenuto da una crescita del 14% delle operazioni ristorative e del 74% delle operazioni dei centri eventi. L'Ford Amphitheater di Colorado Springs ha generato $15,2 milioni di ricevute lorde durante la sua stagione inaugurale, ospitando oltre 112.000 fan in 20 spettacoli con un prezzo medio del biglietto di $156.

Tra i principali sviluppi ci sono l'IPO di successo che ha raccolto $12,3 milioni, l'inizio della costruzione di nuovi anfiteatri a Broken Arrow ed El Paso (progetto da $105 milioni), e l'acquisizione di un'area a McKinney per una sede da 20.000 posti. L'azienda prevede di raggiungere la redditività operativa entro il 2026 con l'apertura di tre grandi sedi.

Venu Holding (NYSE: VENU) informó resultados financieros sólidos para el año fiscal 2024, con un aumento del 114% en los activos totales, alcanzando los $178.4 millones. Las ventas de Luxe FireSuite alcanzaron los $77.7 millones, lo que representa un incremento del 250% en comparación con 2023.

Los ingresos anuales totales aumentaron un 42% hasta $17.8 millones, impulsados por un crecimiento del 14% en las operaciones de restaurantes y un crecimiento del 74% en las operaciones de centros de eventos. El Ford Amphitheater en Colorado Springs generó $15.2 millones en ingresos brutos durante su temporada inaugural, acogiendo a más de 112,000 fanáticos en 20 espectáculos con un precio promedio de entrada de $156.

Los desarrollos clave incluyen una exitosa OPI que recaudó $12.3 millones, el inicio de la construcción de nuevos anfiteatros en Broken Arrow y El Paso (proyecto de $105 millones), y la adquisición de propiedades en McKinney para un recinto de 20,000 asientos. La empresa espera alcanzar la rentabilidad operativa para 2026 con la apertura de tres grandes recintos.

Venu Holding (NYSE: VENU)는 2024 회계연도에 강력한 재무 결과를 보고했으며, 총 자산이 114% 증가하여 1억 7,840만 달러에 달했습니다. 회사의 Luxe FireSuite 판매는 7,770만 달러에 달하며, 이는 2023년 대비 250% 증가한 수치입니다.

연간 총 수익은 42% 증가하여 1,780만 달러에 이르렀고, 이는 레스토랑 운영의 14% 성장과 이벤트 센터 운영의 74% 성장에 힘입은 것입니다. 콜로라도 스프링스에 위치한 Ford Amphitheater는 첫 시즌 동안 1,520만 달러의 총 수익을 올리며, 20회 공연에서 112,000명 이상의 팬을 수용하고 평균 티켓 가격은 156달러였습니다.

주요 개발 사항으로는 1,230만 달러를 모금한 성공적인 IPO, 브로큰 애로우와 엘파소에 새로운 앰피시어터의 착공(1억 5백만 달러 프로젝트), 그리고 20,000석 규모의 공연장을 위한 맥키니 지역의 부동산 인수가 있습니다. 회사는 2026년까지 세 개의 주요 공연장을 열어 운영 수익성을 달성할 것으로 예상하고 있습니다.

Venu Holding (NYSE: VENU) a annoncé de solides résultats financiers pour l'exercice 2024, avec une augmentation de 114% des actifs totaux, atteignant 178,4 millions de dollars. Les ventes de Luxe FireSuite ont atteint 77,7 millions de dollars, représentant une augmentation de 250% par rapport à 2023.

Le chiffre d'affaires annuel total a augmenté de 42% pour atteindre 17,8 millions de dollars, soutenu par une croissance de 14% des opérations de restaurants et de 74% des opérations de centres d'événements. Le Ford Amphitheater à Colorado Springs a généré 15,2 millions de dollars de recettes brutes lors de sa saison inaugurale, accueillant plus de 112 000 fans lors de 20 spectacles avec un prix moyen du billet de 156 dollars.

Les développements clés incluent une introduction en bourse réussie ayant levé 12,3 millions de dollars, le lancement de nouveaux amphithéâtres à Broken Arrow et El Paso (projet de 105 millions de dollars) et l'acquisition de terrains à McKinney pour un lieu de 20 000 places. L'entreprise prévoit d'atteindre la rentabilité opérationnelle d'ici 2026 avec l'ouverture de trois grands lieux.

Venu Holding (NYSE: VENU) hat für das Geschäftsjahr 2024 starke finanzielle Ergebnisse gemeldet, wobei die Gesamtsumme der Vermögenswerte um 114% auf 178,4 Millionen Dollar gestiegen ist. Die Luxe FireSuite Verkäufe erreichten 77,7 Millionen Dollar, was einem Anstieg von 250% im Vergleich zu 2023 entspricht.

Der jährliche Gesamterlös stieg um 42% auf 17,8 Millionen Dollar, angetrieben durch ein Wachstum der Restaurantbetriebe von 14% und ein Wachstum der Eventcenter-Betriebe von 74%. Das Ford Amphitheater in Colorado Springs erzielte in seiner Eröffnungssaison 15,2 Millionen Dollar Bruttoeinnahmen und beherbergte über 112.000 Fans bei 20 Veranstaltungen, mit einem durchschnittlichen Ticketpreis von 156 Dollar.

Zu den wichtigsten Entwicklungen gehören ein erfolgreicher Börsengang, der 12,3 Millionen Dollar einbrachte, der Baubeginn neuer Amphitheater in Broken Arrow und El Paso (105 Millionen Dollar Projekt) sowie der Erwerb von Grundstücken in McKinney für eine 20.000-Sitzplatz-Location. Das Unternehmen erwartet bis 2026 eine betriebliche Rentabilität mit der Eröffnung von drei großen Veranstaltungsorten.

Positive
  • FireSuite sales surged 250% to $77.7 million in 2024
  • Total assets increased 114% to $178.4 million
  • Total revenue grew 42% to $17.8 million
  • Ford Amphitheater generated $15.2M in gross receipts from 20 shows
  • Strong early 2025 performance with $21.6M in FireSuite sales (Jan-Feb)
  • Successful IPO raising $12.3 million in net proceeds
Negative
  • Company not yet profitable, expects profitability only by 2026
  • Significant upfront investment required for venue development
  • Heavy reliance on future venue openings for profitability

Insights

VENU's 2024 results demonstrate remarkable topline growth across multiple revenue streams, signaling strong execution of their entertainment venue expansion strategy. Most impressive is the $77.7 million in Luxe FireSuite sales, representing a staggering 250% year-over-year increase, which validates their fractional ownership model's market acceptance.

The balance sheet transformation is equally notable with total assets increasing 114% to $178.4 million, primarily driven by strategic property investments that position VENU for future revenue acceleration. Their flagship Ford Amphitheater's performance - generating $15.2 million in gross receipts across just 20 shows with over 112,000 attendees - demonstrates the scalability of their business model.

What's particularly compelling is their early 2025 momentum with $21.6 million in January-February FireSuite sales, suggesting they're on track toward their $200 million annual target. The introduction of financing options for fractional ownership should further accelerate this high-margin revenue stream.

While still pre-profitability (with profitability projected for 2026), VENU is following a clear capital-intensive growth path typical of venue development businesses. Their strategic pivot to year-round operations at new venues also addresses the seasonal revenue challenges inherent in the amphitheater business, potentially improving utilization rates and return on invested capital.

VENU's operational results reveal an entertainment company successfully capturing premium dollars in the high-margin live events sector. Their Ford Amphitheater's $156 average ticket price significantly outpaces industry averages, indicating they've effectively positioned themselves in the luxury entertainment segment rather than competing solely on volume.

The nationwide audience draw (from over 5,500 unique zip codes) for their Colorado Springs venue suggests their destination entertainment concept has broader appeal than typical regional venues. This geographic diversity in audience base is particularly valuable for their expansion strategy into markets like McKinney, Broken Arrow, and El Paso.

Their strategic partnership with AEG Presents Rocky Mountains provides booking power and operational expertise while allowing VENU to focus on developing high-margin ancillary revenue streams like their FireSuite fractional ownership model. The Pollstar nomination for Best New Concert Venue validates their design approach and positions them favorably for talent acquisition.

The venue diversification across multiple states creates a networked effect that should enhance sponsorship opportunities, as evidenced by partnerships with Ford Dealers, Kaiser Permanente, and Troy Aikman's EIGHT beer. The multi-season venue configuration announced for new developments addresses the traditional weakness in the amphitheater business model by extending the operating calendar, potentially transforming these venues from seasonal assets to year-round entertainment destinations.

Total Assets Increase over $95,000,000 Year-over-Year

Strong Momentum Continues Market Expansion Progress, Record Breaking FireSuite Sales, and Ford Amphitheater Finishes Its Inaugural Season.

COLORADO SPRINGS, Colo.--(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 results for the fiscal year ended December 31, 2024.

“2024 was nothing short of spectacular for VENU—marked by record-breaking performances, electric openings, and strategic moves that truly put us center-stage in the premium live entertainment industry,” says J.W. Roth Founder, Chairman, and CEO of VENU. “From the wildly successful launch of our flagship Ford Amphitheater, which captivated over 112,000 fans from across the nation and received a Nomination for Pollstar Magazines’ 2024 Best New Concert Venue of the Year, to our bold expansion plans and efforts into fast-growing markets such as McKinney, Broken Arrow, and El Paso this year showcased the boundless potential of our unique, fan-centric vision. We’re not just building venues; we’re setting a new standard for luxury entertainment that keeps our audiences thrilled and coming back for more.

As we look ahead to 2025, the excitement only intensifies. Our recent IPO energized our mission, empowering us to accelerate our ambitious plans, including new partnerships with iconic brands and legends like NFL Hall of Famer and Founder of EIGHT Beer, Troy Aikman, alongside major appointments to our leadership team.

Building a business like ours requires significant upfront investment. We expect to turn the corner toward operational profitability in 2026, driven by development revenue from the expected official opening of three major venues in McKinney, El Paso, and Broken Arrow.

With every strategic step, we’re redefining the live entertainment landscape—delivering unmatched value to our shareholders and, most importantly, unforgettable experiences to our fans. Buckle up!”

2024 Financial Highlights

  • Luxe FireSuite sales reached $77.7 million in 2024, representing a 250% increase over 2023’s total of $22.2 million. This significant year-over-year growth in fractional ownership underscores the strong demand and market traction for our premium offerings.
  • Total assets increased 114% to $178.4 million as of December 31, 2024, up from $83.2 million at December 31, 2023.
  • Property and equipment increased 138% to $137.2 million as of December 31, 2024, up from $57.7 million at December 31, 2023.
  • Total annual revenue rose 42% to $17.8 million in fiscal 2024 compared to $12.6 million in fiscal 2023.
  • Restaurant operations continued steady growth up $1.3 million and 14% in fiscal 2024 compared to fiscal 2023. Event center operations grew $2.2 million and 74%, respectively, in fiscal 2024 compared to fiscal 2023. Both operations were successful due to growth at the Colorado Springs campus, along with the Georgia campus being fully operational during the full year of 2024 compared to opening mid-year 2023.
  • Amphitheater operations generated net profit to VENU, due to the opening and initial success of Ford Amphitheater (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 $1,659,291 or 9% of our total revenue for fiscal 2024.
  • Over the limited 2024 season of 20 shows at the Ford Amphitheater, this location generated gross receipts of $15.2 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, booked and operated in partnership with AEG Presents Rocky Mountains, sold over 97,000 tickets at an average of $156 per ticket in its 20 shows of 2024.

Operational Highlights for 2024 and Subsequent Events:

  • Successfully completed initial public offering, listing shares on NYSE American and raising approximately $12.3 million in net proceeds in the initial public offering.
  • Grand opening of the Ford Amphitheater in Colorado Springs, which hosted over 112,000 fans from over 5,500 unique zip codes nationwide in its inaugural limited season and was nominated for Pollstar Magazine's 2024 Best New Concert Venue of the Year.
  • Broke ground on amphitheater projects in Broken Arrow, Oklahoma, and commenced construction phases for additional new locations in Texas and Oklahoma.
  • Announced an $105,000,000 ultra-lux Amphitheater in El Paso, Texas through a significant public private partnership.
  • Closed on 46-acre property for 20,000-seat world-class outdoor music venue in McKinney, TX, one of America’s fastest-growing cities, just northeast of Dallas-Fort Worth.
  • Established significant partnerships and sponsorships, including agreements with Colorado Ford Dealers, Kaiser Permanente, NFL Hall of Famer Troy Aikman, and EIGHT Elite Light Beer.
  • Strengthened leadership with key executive appointments including Will Hodgson as President and Terri Liebler as Chief Marketing Officer.
  • Launched the VENU Arts and Culture Foundation, furthering commitment to supporting local talent and enhancing community cultural vibrancy.

2025 Recent Announcements

  • After surpassing $77.7 million in FireSuite (fractional ownership interests) sales in 2024, the Company continued its momentum into 2025. The Company continued its record-breaking momentum into 2025, generating $10.4 million in January and $11.2 million in February. With a strong start to the year, the Company remains on track to achieve its goal of $200 million for 2025.
  • Launched VENU Income Offering, a program designed for RIAs and broker dealers intended to provide the potential for consistent monthly income to their clients through pooled ownership of VENU’s Luxe FireSuites located in the McKinney, TX, and Broken Arrow, OK amphitheaters.
  • Launched VENU Fractional Ownership Financing designed to accelerate the expansion of its highly sought-after Luxe FireSuites. The program permits buyers to finance their purchase of rights to a FireSuite making the FireSuites accessible to a broader audience.
  • The Company has enhanced the planned features and amenities at its in-development amphitheaters to allow them to expand to year-round operations through a multi-season venue configuration for its planned venues in McKinney, TX; El Paso, TX; Broken Arrow, OK; and Yukon, OK—unlocking new revenue growth. This innovative model increases the number of events hosted annually at each location while enhancing operational efficiency. Moving forward, the Company intends to incorporate this flexible configuration into all newly developed venues.

CONFERENCE CALL DETAILS

Monday, March 31, 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 March 31, 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 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.

VENU HOLDING CORPORATION AND SUBSIDIARIES
CONSOLIDATED BALANCE SHEETS
(in US Dollars)
As of
December 31, December 31,

 

2024

 

 

2023

 

ASSETS
Current assets
Cash and cash equivalents

$

37,969,454

 

$

20,201,104

 

Inventories

 

225,283

 

 

185,746

 

Prepaid expenses and other current assets

 

850,951

 

 

209,215

 

Total current assets

 

39,045,688

 

 

20,596,065

 

Other assets
Property and equipment, net

 

137,215,936

 

 

57,737,763

 

Intangible assets, net

 

211,276

 

 

277,995

 

Operating lease right-of-use assets, net

 

1,351,600

 

 

3,685,980

 

Investments in related parties

 

550,000

 

 

550,000

 

Security and other deposits

 

43,015

 

 

375,904

 

Total other assets

 

139,371,827

 

 

62,627,642

 

Total assets

$

178,417,515

 

$

83,223,707

 

 
LIABILITIES AND STOCKHOLDERS' EQUITY
Accounts payable

$

7,283,033

 

$

2,565,460

 

Accrued expenses

 

3,556,819

 

 

698,369

 

Accrued payroll and payroll taxes

 

262,387

 

 

331,457

 

Deferred revenue

 

1,528,159

 

 

764,081

 

Convertible debt

 

9,433,313

 

 

-

 

Current portion of operating lease liabilities

 

364,244

 

 

230,952

 

Current portion of long-term debt

 

2,101,501

 

 

325,245

 

Total current liabilities

 

24,529,456

 

 

4,915,564

 

 
Long-term portion of operating lease liabilities

 

1,020,604

 

 

3,646,385

 

Long-term licensing liability

 

7,950,000

 

 

1,500,000

 

Long-term debt, net of current portion

 

14,100,217

 

 

11,182,073

 

Total liabilities

$

47,600,277

 

$

21,244,022

 

Commitments and contingencies - See Note 14
Stockholders' Equity
Class B common stock, $0.001 par - 1,000,000 authorized, 379,990 issued and outstanding at

 

379

 

 

1,960

 

December 31, 2024 and 30,000,000 authorized and 1,959,445 issued and outstanding at December 31, 2023
Class C common stock, $0.001 par - 0 authorized and issued and outstanding at December 31, 2024

 

-

 

 

30,306

 

and 50,000,000 authorized and 30,306,060 issued and outstanding at December 31, 2023
Common stock, $0.001 par - 144,000,000 authorized, 37,471,465 issued and outstanding at

 

37,472

 

 

-

 

December 31, 2024 and 60,000,000 authorized at 0 issued and outstanding at December 31, 2023
Preferred stock, $0.001 par - 5,000,000 authorized, none issued or outstanding

 

-

 

 

-

 

Additional paid-in capital

 

144,546,368

 

 

47,743,085

 

Accumulated deficit

 

(47,361,208

)

 

(17,021,453

)

$

97,223,011

 

$

30,753,898

 

Treasury Stock, at cost - 276,245 shares at December 31, 2024 and 76,245 shares at December 31, 2023

 

(1,500,076

)

 

(76

)

Total Venu Holding Corporation and subsidiaries equity

$

95,722,935

 

$

30,753,822

 

Non-controlling interest

 

35,094,303

 

 

31,225,863

 

Total stockholders' equity

$

130,817,238

 

$

61,979,685

 

Total liabilities and stockholders' equity

$

178,417,515

 

$

83,223,707

 

VENU HOLDING CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF OPERATIONS
(in US Dollars)
For the years ended
December 31,

 

2024

 

 

2023

 

Revenues
Restaurant including food and beverage revenue

$

10,828,972

 

$

9,522,523

 

Event center ticket and fees revenue

 

4,648,478

 

 

2,152,826

 

Rental and sponsorship revenue

 

2,356,933

 

 

922,315

 

Total revenues

$

17,834,383

 

$

12,597,664

 

Operating costs
Food and beverage

 

2,409,133

 

 

2,216,359

 

Event center

 

2,554,606

 

 

1,072,909

 

Labor

 

4,383,505

 

 

3,667,095

 

Rent

 

1,361,787

 

 

815,233

 

General and administrative

 

18,832,115

 

 

12,470,650

 

Equity compensation

 

12,015,133

 

 

1,610,350

 

Depreciation and amortization

 

3,656,229

 

 

1,877,236

 

Total operating costs

$

45,212,508

 

$

23,729,832

 

 
Loss from operations

$

(27,378,125

)

$

(11,132,168

)

 
Other income (expense), net
Interest expense

 

(3,906,959

)

 

(331,674

)

Other expense

 

(2,500,006

)

 

-

 

Loss on sale of investments

 

-

 

 

(75,603

)

Interest income

 

705,729

 

 

20,152

 

Other income

 

130,387

 

 

132,500

 

Total other expense, net

 

(5,570,849

)

 

(254,625

)

 
Net loss

$

(32,948,974

)

$

(11,386,793

)

 
Net loss attributable to non-controlling interests

 

(2,609,219

)

 

(862,320

)

 
Net loss attributable to common stockholders

$

(30,339,755

)

$

(10,524,473

)

 
Weighted average number of shares of Class A common stock, outstanding, basic and diluted

 

-

 

 

136,301

 

Basic and diluted net loss per share of Class A common stock

$

-

 

$

(0.39

)

 
Weighted average number of shares of Class B common stock, outstanding, basic and diluted

 

724,629

 

 

16,640,620

 

Basic and diluted net loss per share of Class B common stock

$

(0.86

)

$

(0.39

)

 
Weighted average number of shares of Class C common stock, outstanding, basic and diluted

 

6,758,034

 

 

10,106,179

 

Basic and diluted net loss per share of Class C common stock

$

(0.86

)

$

(0.39

)

 
Weighted average number of shares of Class D common stock, outstanding, basic and diluted

 

16,319,014

 

 

-

 

Basic and diluted net loss per share of Class D common stock

$

(0.86

)

$

-

 

 
Weighted average number of shares of Common stock, outstanding, basic and diluted

 

11,642,944

 

 

-

 

Basic and diluted net loss per share of Common stock

$

(0.86

)

$

-

 

VENU HOLDING CORPORATION AND SUBSIDIARIES
CONSOLIDATED STATEMENTS OF CASH FLOWS
(in US Dollars)
For the years ended December 31,

2024

 

2023

 

Net loss $

(32,948,974

)

$

(11,386,793

)

Adjustments to reconcile net loss to net cash used in operating activities:
Equity issued for interest on convertible debt

766,920

 

-

 

Equity based compensation

12,015,133

 

1,610,350

 

Project abandonment loss

668,403

 

-

 

Amortization of debt discount

2,917,989

 

4,544

 

Non cash lease expense

498,808

 

486,924

 

Unrealized income on equity method investment

-

 

75,603

 

Depreciation and amortization

3,656,229

 

1,877,236

 

Noncash financing expense

2,500,000

 

-

 

Noncash interest

-

 

1,292

 

Changes in operating assets and liabilities:
Inventories

(39,537

)

(98,591

)

Prepaid expenses and other current assets

(641,736

)

88,579

 

Receivables from AEG partnership

-

 

-

 

Security deposit

332,889

 

(225,904

)

Accounts payable

4,694,025

 

745,259

 

Accrued expenses

2,858,450

 

334,840

 

Accrued payroll and payroll taxes

(69,070

)

(73,542

)

Deferred revenue

764,078

 

636,790

 

Operating lease liabilities

(465,890

)

(452,759

)

Licensing liabilities

6,250,000

 

1,500,000

 

Net cash provided by (used in) operating activities

3,757,717

 

(4,876,172

)

Cash flows from investing activities
Purchase of property and equipment

(72,483,650

)

(31,165,063

)

Net cash acquired from acquisition of 13141 BP

74,085

 

-

 

Net cash used in investing activities

(72,409,565

)

(31,165,063

)

Cash flows from financing activities
Proceeds from sale of non-controlling interest equity

38,463,367

 

16,750,000

 

Distributions to non-controlling shareholders

(934,435

)

(531,789

)

Principal payments on long-term debt

(313,136

)

(224,386

)

Proceeds from issuance of shares

31,960,250

 

16,695,180

 

IPO issued

12,654,100

 

-

 

Proceeds from exercise of warrants

52

 

82,600

 

Payment for personal guarantee on convertible debt

(100,000

)

-

 

Acquisition of Treasury Stock

(1,500,000

)

-

 

Receipt of short-term promissory note

(10,000

)

-

 

Proceeds from municipality promissory note

6,200,000

 

-

 

Net cash provided by financing activities

86,420,198

 

32,771,605

 

Net increase (decrease) in cash and cash equivalents

17,768,350

 

(3,269,630

)

Cash and cash equivalents, beginning

20,201,104

 

23,470,734

 

Cash and cash equivalents, ending $

37,969,454

 

$

20,201,104

 

Supplemental disclosure of non-cash operating, investing and financing activities:
Cash paid for interest $

406,483

 

$

305,169

 

Property acquired via mortgage $

-

 

$

4,400,000

 

Property acquired via short-term promissory note $

2,000,000

 

$

-

 

Property acquired via convertible debt $

10,000,000

 

$

-

 

Debt discounts - warrants $

3,000,140

 

$

-

 

Equity issued for origination fee $

100,000

 

$

-

 

Debt discount - suite granted to lender $

200,000

 

$

-

 

Land returned in exchange for termination of promissory note payable $

3,267,000

 

$

-

 

Right of Use Assets obtained in exchange for operating lease liabilities $

471,476

 

$

-

 

 

Media Relations

Chloe Hoeft

Venu Holding Corporation (“VENU”)

719-895-5470

choeft@venu.live

Investor Relations

Dave Gentry

RedChip Companies, Inc.

1-407-644-4256

VENU@redchip.com

Source: Venu Holding Corporation

FAQ

What was VENU's FireSuite sales performance in 2024?

VENU's Luxe FireSuite sales reached $77.7 million in 2024, a 250% increase from $22.2 million in 2023.

How did Ford Amphitheater perform in its first season for VENU stock?

Ford Amphitheater generated $15.2 million in gross receipts from 20 shows, contributing $1.66 million (9%) to VENU's total revenue in 2024.

What is VENU's expansion plan for 2025-2026?

VENU is developing new amphitheaters in McKinney, El Paso, and Broken Arrow, with expected operational profitability by 2026.

How much did VENU's total assets grow in 2024?

VENU's total assets increased 114% to $178.4 million, up from $83.2 million in 2023.

What was VENU's total revenue growth in fiscal 2024?

VENU's total annual revenue increased 42% to $17.8 million in 2024, compared to $12.6 million in 2023.
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