Venu (NYSEAMERICAN:VENU) executives said the company entered fiscal 2026 with momentum across venue development, partnership sales and its fractional ownership program, while also reporting higher first-quarter revenue and a larger asset base.
Founder, Chairman and CEO J.W. Roth said Venu is attempting to create “a new asset class” in live entertainment by developing venues that are multi-seasonal, multi-configurational and built with premium hospitality and immersive technology. Roth said the company is targeting a market where the average U.S. amphitheater is about 40 years old and “falls well short of modern premium standards.”
Assets Rise as Company Highlights Real Estate Value
Chief Financial Officer Heather Atkinson said total assets increased to $461 million as of March 31, 2026, up $91 million, or 25%, from $370 million at Dec. 31, 2025. Property and equipment rose to $382 million, also up 25% from $306 million at year-end.
Atkinson and Roth both emphasized that Venu’s reported assets do not include market value for certain real estate contributed by municipalities, which is carried at zero cost basis under GAAP. Roth said an independent appraisal earlier this year valued the company’s real estate portfolio at $1.24 billion on an as-completed basis.
Venu reported total revenue of $3.9 million for the quarter ended March 31, 2026, compared with $3.5 million in the prior-year period, an increase of 11%.
The company also completed a common stock capital raise during the quarter, generating gross proceeds of $86.25 million and net proceeds of $80.1 million. Roth said the company is currently in a capital-intensive phase as it builds the foundation of its venue platform.
Fractional Ownership Sales Continue
Roth said Venu’s Luxe FireSuite pre-sales have generated more than $260 million since launch. Atkinson said Luxe FireSuite sales through the company’s triple-net model accounted for approximately 47% of total Luxe FireSuite sales for the quarter.
Roth said the company recently launched a $300 million triple-net inventory offering with Troy Aikman, whom he described as a shareholder, FireSuite owner and partner. He also said Venu launched a FireSuite Income Offering aimed at investors seeking a lower entry point into fractional ownership.
Development Pipeline Expands
Chief Operating Officer Vic Sutter said construction in McKinney, Texas, is progressing as planned, with trusses for the canopy roof structure underway. In Broken Arrow, Oklahoma, FireSuites have been delivered to the site and installation is expected to begin soon. Sutter said Venu is advancing infrastructure development in El Paso and expects to close out the entitlement phase in Houston in the coming weeks.
Sutter also referenced newly announced expansion plans in Chattanooga, Tennessee, and active conversations in northern Colorado. During the question-and-answer session, Robert Mudd, senior vice president of construction and market expansion, said the Chattanooga project is expected to be located along the Tennessee River at The Bend, a mixed-use development adjacent to a 300-slip marina. He said Chattanooga is attractive from a routing perspective because it sits between Nashville, Atlanta and Knoxville.
Mudd said the company’s pipeline includes discussions with more than 45 municipalities. He said northern Colorado is another strategic market under review, citing local market support and active discussions along the I-25 corridor.
Booking, Operations and Partnerships
President Will Hodgson said the 2026 season at Ford Amphitheater is underway and that booking remains active, with additional shows yet to be announced. He said Venu expects Ford’s 2026 season to look similar to prior seasons by the time booking is complete.
Hodgson said Broken Arrow is drawing “a significant amount of interest” from artists and promoters ahead of its inaugural season, while McKinney is also moving into early booking discussions. He said Venu and its operating and booking partner, Live Nation, are working to build relationships in the Dallas-area market.
Sutter said the November 2025 opening of Roth’s Sea & Steak in Colorado Springs created a meaningful new revenue stream, with early performance described as “exceptional.” He said private events at the restaurant are tracking ahead of expectations. However, he said Bourbon Brothers Smokehouse & Tavern locations faced first-quarter headwinds, including softer traffic in Colorado Springs and weather-related closures in Gainesville, Georgia.
President of Growth and Strategy Terri Liebler said Venu secured PepsiCo as its official beverage partner across the Sunset Amphitheater portfolio, while Aramark Sports + Entertainment expanded to five Venu venues and made an additional equity investment in the company. Liebler said naming rights and sponsorships represent potentially significant contracted revenue streams, and during the Q&A she said Venu has secured more than $100 million to date in negotiated and contractual partnership revenue.
Executives Emphasize Higher Venue Utilization
In response to a question from Goldman Sachs analyst Stephen Laszczyk, Roth said Venu’s new venues are not traditional amphitheaters, but purpose-built spaces designed around real estate ownership, premium hospitality and immersive technology. He said the venues are intended to operate year-round and could produce up to 100 shows annually, compared with about 30 shows at a typical amphitheater.
Sutter added that the venues are designed to host concerts, family shows, special events, corporate activations and immersive content within the same venue. He said Venu believes the venues can host a minimum of 80 events per year, depending on the market, compared with an industry average of roughly 30 to 35 shows annually for amphitheaters.
Roth said Ford Amphitheater has served as a proof of concept for the company’s elevated hospitality model. He said the venue opened its season with strong club performance and improved rideshare operations, which he said helped reduce congestion and increase post-show dwell time.
About Venu (NYSEAMERICAN:VENU)
Venu Holding Corporation is a premier hospitality and live music company dedicated to crafting luxury, experience-driven entertainment destinations. Venu Holding Corporation is based in COLORADO SPRINGS, Colo.
