Venu Holding Corporation Reports Second Quarter Fiscal 2026 Financial Results

Total Assets Increased $141.2 million to $511.8 million, Up 38% from Year-End 2025 Venu Holding Corporation ("VENU" or the "Company") (NYSE American: VENU), owner, operator, and developer of premium live entertainment destinations, today announced results for its second quarter and six-month period ended June 30, 2026. VENU Total Assets Increased $141.2 million to $511.8 million, Up 38% from Year-End 2025 “This quarter reflected steady, deliberate progress across our business,” said J.W. Roth, Founder, Chairman, and Chief Executive Officer of VENU. “We announced our expansion plans into Chattanooga and are in active discussions on a new destination in Northern Colorado, adding to a pipeline of more than 45 municipal conversations. Regent Bank signed on as the official naming rights partner for our state-of-the-art amphitheater outside of Tulsa, Oklahoma a multi-year, multi-million-dollar agreement that adds long-term, high-margin revenue directly to our bottom line, and finishing the quarter we were added to the Russell 3000® and Russell 2000® indices. Since quarter end, we've also sharpened how we finance venues to completion, as we aim to move away from sale-leaseback to C-PACE financing, which keeps our real estate on the balance sheet and minimizes shareholder dilution, bridged by a short-term loan with Ryan LLC and a debenture financing that are both structured to be retired after C-PACE closes. Our attention is squarely on the finish line at Regent Bank Amphitheater, which opens this fall with bookings, offers, and shows in progress. Sunset Amphitheater McKinney is right behind it, where construction continues to move rapidly. We look forward to sharing more in the weeks ahead.” Financial Highlights for the Second Quarter of 2026 and the Six-Month Period Ended June 30, 2026 Total assets increased to $511.8 million as of June 30, 2026, up $141.2 million or 38% from $370.5 million at December 31, 2025, which resulted in $4.44 per common share in net tangible assets (1) as of June 30, 2026.It is worth noting that our municipality contributed real estate sits at zero cost basis on our balance sheet rather than mark to market value as they are contributed assets, which resulted in $9.58 per common share in net tangible assets on a mark to market basis as of June 30, 2026. On an as-completed basis (2) of $1.24 billion a net tangible share price would equal $17.44 per common share, giving a fuller picture of what this portfolio would be worth once completed.Property and equipment increased to $446.2 million as of June 30, 2026, up $140.3 million or 46% from $305.9 million at December 31, 2025.Luxe FireSuite and Aikman Club sales reached more than $278 million in total sales since launching the program across current and in development venues for the quarter ended June 30, 2026. During the quarter, Luxe FireSuite sales through the Company's NNN model accounted for approximately 76% of total Luxe FireSuite sales.Total revenue was $8.5 million for the six months ended June 30, 2026, compared to $8.0 million for the six months ended June 30, 2025, an increase of 7% year over year. Operational and Strategic Highlights for the Second Quarter Fiscal 2026: Capital Markets & Financing VENU was added to the Russell 3000 ® Index and the small-cap Russell 2000 ® Index as part of FTSE Russell's 2026 semi-annual reconstitution, effective at market open on June 29, 2026, expanding institutional visibility across the approximately $12.2 trillion in assets benchmarked to the Russell US Indexes.Closed a $49.7 million sale-leaseback arrangement on the land beneath Ford Amphitheater in Colorado Springs. Venue Development & National Expansion Entered into an agreement to purchase 15 acres at the Bend in Chattanooga, Tennessee, for a planned $300 million, 12,500-seat amphitheater to be developed with Urban Story Ventures, contingent on completion of public-private partnership incentives.Continued active discussions with several Northern Colorado municipalities for a potential $350 million-plus, 12,500-seat multi-seasonal entertainment destination.Named Regent Bank as the official naming rights partner for the Company's Broken Arrow, Oklahoma amphitheater, now Regent Bank Amphitheater, targeted to open in Fall 2026. Subsequent Events: July 1, 2026, through August 13, 2026 Balance Sheet & Financing Activity Secured a path to more than $150 million in C-PACE financing arranged by CBRE Group, providing long-term, fixed-rate, non-dilutive capital to fund completion of both the Regent Bank Amphitheater in Broken Arrow, Oklahoma, and Sunset Amphitheater at McKinney, Texas.Closed $45 million in financing to keep both flagship amphitheaters on schedule ahead of permanent C-PACE funding, including a $20 million bridge loan facility from Ryan, LLC, VENU's national expansion partner since 2023 and Official Tax Partner, to advance construction of the 20,000-seat Sunset Amphitheater at McKinney and a $25 million secured convertible debenture dedicated exclusively to construction of the Regent Bank Amphitheater. Strategic Advisors & Operating Partnerships Added Ron Bension, former President and CEO of ASM Global and architect of its $2.3 billion acquisition by Legends, as a strategic advisor to CEO J.W. Roth, with Mr. Bension also being nominated for election to VENU's Board of Directors at the Company's 2026 Annual Meeting of Shareholders, subject to shareholder approval.Selected Legends Global, operator of more than 450 venues hosting 20,000 events and 165 million guests annually, to lead venue management at the 12,500-seat Regent Bank Amphitheater in Broken Arrow, Oklahoma, under an exclusive agreement covering day-to-day operations, staffing, vendor management, and artist logistics, with Aramark Sports + Entertainment serving as food and beverage partner ahead of the venue's targeted fall 2026 opening. Conference Call Details Thursday August 13, 2026, at 11:00 a.m. Eastern Time North America Toll Free Dial-In Number +1 833-461-5787 International Toll Dial-In Number +1 585-542-9983 Conference ID 512 667 005 Webcast Link https://events.q4inc.com/attendee/512667005 Conference Call Replay https://investors.venu.live 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, Tennessee, 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, Forbes, 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. Non-GAAP Financial Measures (1) Net Tangible Asset Value Per Common Share Net Tangible Asset Value Per Common Share, as presented, is a non-GAAP financial measure. We define Net Tangible Asset Value Per Common Share as total assets, excluding intangible assets, less total liabilities, divided by common shares outstanding. Management believes this measure provides useful information regarding the tangible asset value attributable to holders of the Company’s common shares and may assist investors in evaluating the Company’s financial position and the value of its tangible assets on a per-share basis. Net Tangible Asset Value Per Common Share may also be useful when considering values based on mark to market basis or as-completed appraisal basis. Appraisal Disclosures (2) 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 includes two Colorado Springs parcels later sold through sale-leaseback transactions: a 5.5-acre parking lot, appraised at $9.2 million and sold in November 2025 for $14 million, and a 9.5-acre lot, appraised and sold at approximately $50 million and sold in June 2026. 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. VENU HOLDING CORPORATION AND SUBSIDIARIESCONDENSED CONSOLIDATED BALANCE SHEETS(in US Dollars)As ofJune 30,December 31, 2026 2025 UnauditedAuditedASSETSCurrent assetsCash and cash equivalents $ 16,283,650 $ 41,306,358 Inventories 590,861 474,467 Prepaid expenses and other current assets 3,407,825 2,546,523 Current portion NNN firesuite promissory notes receivable 111,373 - Total current assets 20,393,709 44,327,348 Other assetsProperty and equipment, net 446,239,065 305,947,277 Intangible assets, net 111,198 144,558 Operating lease right-of-use assets, net 17,010,370 17,397,009 Note receivable - related party 19,880,000 - Long term NNN firesuite promissory notes receivable, net of current portion 7,445,981 - Investment in EIGHT Brewing - 1,999,999 Investment in related parties 555,262 555,262 Security and other deposits 143,358 183,582 Total other assets 491,385,234 326,227,687 Total assets $ 511,778,943 $ 370,555,035 LIABILITIES AND STOCKHOLDERS' EQUITYAccounts payable $ 59,635,351 $ 25,129,485 Accrued expenses 6,620,210 27,847,751 Accrued payroll and payroll taxes 366,317 577,360 Deferred revenue 1,977,456 1,542,564 Current portion of operating lease liabilities 621,069 605,261 Current portion licensing liability 223,333 223,333 Current portion NNN firesuite liability 1,911,467 1,026,300 Current portion lease financing liability - related party 3,383,410 - Current portion of long-term debt 8,174,776 400,108 Total current liabilities 82,913,389 57,352,162 Long-term portion of operating lease liabilities 16,625,919 16,886,027 Long-term licensing liability and other liabilities 10,040,749 8,951,600 Long-term convertible debt 1,927,742 1,907,530 Long-term NNN firesuite liability 56,878,056 30,038,214 Long-term lease financing liability - related party 38,031,471 - Long-term debt, net of current portion 56,086,241 56,568,151 Total liabilities $ 262,503,567 $ 171,703,684 Commitments and contingencies - See Note 16Mezzanine EquityContingently Redeemable Convertible Cumulative Series B Preferred Stock, $0.001 par - 1,342 authorized,1,008 issued and outstanding at June 30, 2026 and 675 issued and outstanding at December 31, 2025 $ 15,120,000 $ 10,125,000 Stockholders' EquityCommon stock, $0.001 par - 144,000,000 authorized, 59,371,551 issued and 56,056,839 outstanding atJune 30, 2026 and 43,536,954 issued and 42,860,764 outstanding at December 31, 2025 59,372 42,961 Class B common stock, $0.001 par - 1,000,000 authorized, 381,235 issued and 304,990 outstanding atJune 30, 2026 and 381,235 issued and 304,990 outstanding at December 31, 2025 381 304 Additional paid-in capital 276,946,369 201,188,680 Accumulated deficit (123,098,229 ) (91,454,930 ) $ 153,907,893 $ 109,777,015 Treasury Stock, at cost - 3,390,957 shares at June 30, 2026 and 752,435 shares at December 31, 2025 (17,900,353 ) (7,899,600 ) Total Venu Holding Corporation and subsidiaries equity $ 136,007,540 $ 101,877,415 Non-controlling interest 98,147,836 86,848,936 Total stockholders' equity $ 234,155,376 $ 188,726,351 Total liabilities and stockholders' equity $ 511,778,943 $ 370,555,035 VENU HOLDING CORPORATION AND SUBSIDIARIESUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS(in US Dollars)For the six months endedJune 30, 2026 2025 RevenuesRestaurant including food and beverage revenue, net $ 5,617,082 $ 4,590,094 Event center ticket and fees revenue, net 1,902,352 2,424,146 Rental and sponsorship revenue, net 1,027,514 972,226 Total revenues, net $ 8,546,948 $ 7,986,466 Operating costsFood and beverage 1,450,802 1,111,386 Event center 1,668,720 1,653,562 Labor 3,142,118 2,117,831 Rent 957,782 774,336 General and administrative 17,637,456 15,204,257 Equity compensation 3,738,453 13,224,382 Depreciation and amortization 4,776,523 2,749,776 Donation of EIGHT Brewing investment 1,999,999 - Total operating costs $ 35,371,853 $ 36,835,530 Loss from operations $ (26,824,905 ) $ (28,849,064 ) Other income (expense), netInterest expense, net (7,403,503 ) (2,906,879 ) Other income, net 50,769 19,599 Total other expense, net (7,352,734 ) (2,887,280 ) Net loss $ (34,177,639 ) $ (31,736,344 ) Net loss attributable to non-controlling interests (2,534,340 ) (2,255,381 ) Net loss attributable to Venu (31,643,299 ) (29,480,963 ) Preferred stock dividend (300,750 ) (16,875 ) Net loss attributable to common stockholders $ (31,944,049 ) $ (29,497,838 ) Weighted average number of shares of Class B common stock, outstanding, basic and diluted 304,990 379,990 Basic and diluted net loss per share of Class B common stock $ (0.60 ) $ (0.77 ) Weighted average number of shares of Common stock, outstanding, basic and diluted 53,302,185 37,984,523 Basic and diluted net loss per share of Common stock $ (0.60 ) $ (0.77 ) VENU HOLDING CORPORATION AND SUBSIDIARIESUNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(in US Dollars)For the six months ended June 30,20262025Net loss$ (34,177,639 ) $ (31,736,344 ) Adjustments to reconcile net loss to net cash used in operating activities:Loss on sale of property and equipment 55,957 - Equity issued for interest on debt - 291,680 Equity based compensation 2,918,786 13,024,382 Equity issued for services 653,000 277,900 Noncash interest and debt discount 876,482 2,829,506 Noncash lease expense 849,264 184,741 Depreciation and amortization 4,776,523 2,749,776 Noncash donation of EIGHT Brewing investment 1,999,999 - Changes in operating assets and liabilities:Inventories (116,394 ) 31,166 Prepaid expenses and other current assets (861,302 ) (391,189 ) Security and other deposits 40,224 (25,250 ) Accounts payable 34,505,866 (2,781,721 ) Accrued expenses (21,528,291 ) 3,235,134 Accrued payroll and payroll taxes (211,043 ) (105,678 ) Deferred revenue 434,892 360,730 Operating lease liabilities (706,925 ) (185,469 ) Licensing liability 1,089,149 756,389 Net cash used in operating activities (9,401,452 ) (11,484,247 ) Cash flows from investing activitiesPurchase of property and equipment (132,875,433 ) (37,211,382 ) Investment in EIGHT Brewing - (1,999,999 ) Investment in related parties - (5,262 ) Net cash used in investing activities (132,875,433 ) (39,216,643 ) Cash flows from financing activitiesProceeds from NNN firesuite liability, including $542,646 principal payments fromProceeds from long-term debt, net of issuance costs - NNN firesuite promissory notes receivable 19,467,646 - Proceeds from lease financing liability - related party 21,951,844 - Proceeds from issuance of Contingently Redeemable Convertible Cumulative Series B Preferred Stock 4,995,000 10,125,000 Proceeds from issuance of common stock, net of $7,395,725 issuance costs 68,531,119 - Proceeds from issuance of common warrants and pre-funded warrants 21,796,023 - Proceeds from Subsidiary issuance of shares, net of Venu purchase of Subsidiary shares (3,452,060 ) 24,454,237 Repurchase of treasury stock (10,000,000 ) - Principal payments on promissory note (4,500,000 ) (2,000,000 ) Principal payments on long-term debt (332,142 ) (164,038 ) Principal payments on lease financing liability - related party (10,799 ) - Distributions to non-controlling shareholders (1,192,454 ) (251,785 ) Net cash provided by financing activities 117,254,177 50,163,414 Net decrease in cash and cash equivalents (25,022,708 ) (537,476 ) Cash and cash equivalents, beginning 41,306,358 37,969,454 Cash and cash equivalents, ending$ 16,283,650 $ 37,431,978 Supplemental cash flow information:Cash paid for interest$ 856,948 $ 230,467 Cash paid for income taxes$ - $ - Supplemental non-cash investing and financing activities:Property acquired via promissory note$ 12,215,475 $ 25,000,000 Real property sold in exchange for note receivable - related party$ 19,880,000 $ - Lease financing liability from real property lease - related party$ 41,376,869 $ - Accrued preferred stock dividends$ 300,750 $ 16,875 Debt discounts - warrants$ - $ 1,486,329 Conversion of convertible debt and interest to common equity$ - 25,000,000 Source: Venu Holding Corporation