Start here if you're new
what it is
Venu builds and runs live music venues, amphitheaters, and a restaurant for concerts, events, and meals.
how it gets paid
Last year Venu made $18M in revenue. Indoor music halls was the main engine at $7.2M, or 40% of sales.
what just happened
Revenue hit $13M last quarter, but the company still lost $0.91 a share.
At a glance
n/a balance sheet
-$0.86 fy2024 eps est
$18M fy2024 rev est
n/a operating margin
~$194M market cap
What they do
Venu builds and runs live music venues, amphitheaters, and a restaurant for concerts, events, and meals.
A 1,400-seat hall and an 8,000-to-20,000-seat amphitheater are different businesses. You sell intimacy in one and scale in the other. That gives you two ways to make money from the same touring act, and Venu does it with 50 employees.
How they make money
$18M
annual revenue
Indoor music halls
$7.2M
Amphitheater events
$5.4M
Private and corporate events
$2.7M
Bourbon Brothers Smokehouse & Tavern
$1.8M
Partnership, catering, and other
$0.9M
The products that matter
flagship venue development
Sunset Amphitheater
$300M project · 20,000 seats
this is the core asset. it's a $300M, 20,000-seat project, and the opening is already pushed to 2027.
2027 opening
ticket sales and venue operations
Ticketing & Venue Ops
$12M · 67% of revenue
it's the biggest current revenue stream at $12M, but that still sits on a very small $18M company-wide base.
current revenue engine
project pipeline and development fees
Development & Other
$6M · 33% of revenue
this $6M bucket matters because it shows how much of today's business is still tied to building, planning, and staging future venues.
early-stage mix
Key numbers
$18M
annual revenue
That is the size of the whole business. It is small enough that one bad season matters.
$70M
long-term debt
Debt is nearly 4 times annual revenue. That is a big claim on a small cash stream.
n/a
operating margin
Prior margin KPI failed sanity check — verify in filings. The business loses more than it takes in. That keeps equity holders in the waiting room.
$13M
latest quarter revenue
A $13M quarter shows demand is real, but the business still has to prove it can turn volume into profit.
Financial health
n/a
strength
- balance sheet grade n/a
- long-term debt $70M (26% of capital)
n/a — functional but not a standout on the balance sheet.
Total return vs. market
Return history isn't available for VENU right now.
source: institutional data · return history unavailable
What just happened
missed estimates
Revenue hit $13M last quarter, but the company still lost $0.91 a share.
Sales were up 148% vs. prior year, yet the latest quarter still showed a heavy loss. That is the whole story: growth is real, profitability is not.
$13.0M
revenue
-$0.91
eps
148.0%
revenue growth
the number that mattered
The $13M quarter matters because it proves demand is real, but the -$0.91 EPS says growth is still expensive.
source: company earnings report, 2026
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What could go wrong
the #1 risk is Sunset Amphitheater construction and opening slippage. this is a company with $18M in revenue leaning on a $300M flagship project that is already delayed to 2027.
high
construction and timeline risk
Sunset Amphitheater is a $300M, 20,000-seat project now expected to open in 2027. further delays would push out the asset the market is really paying for.
delay the opening, and you delay the revenue story with it.
high
funding and dilution risk
the company raised $86.25M on march 12, 2026, while still running a -239% net margin and carrying $70M of long-term debt. if construction costs run ahead of plan, another capital raise is the obvious pressure point.
more funding could mean more dilution before the flagship earns a dollar.
high
premium demand risk
the model depends on filling large venues and supporting premium ticket pricing. management's own framing leans on $300 tickets and 20,000 seats. if demand softens, the economics on a $300M venue get ugly fast.
weak attendance would hit both current ticketing revenue and the case for future projects.
the flagship project alone is $300M against a company with ~$194M market cap, $18M in revenue, and a -239% net margin. that is not a normal margin of safety.
source: institutional data · regulatory filings · risk analysis
Pay attention to
calendar
q4 2025 earnings report
expected march 30, 2026. consensus sits at -$0.29 eps on $5.75M revenue. the print matters, but management commentary on cash use matters more.
risk
Sunset Amphitheater timeline
the 20,000-seat venue is now pushed to 2027. another slip would be hard to explain after the fresh $86.25M raise.
metric
cash burn versus debt load
watch the relationship between the new financing, the $70M debt load, and how quickly losses consume capital. that tells you how much runway is real.
trend
ticketing scale from the current $12M base
ticketing and venue ops already account for 67% of revenue. if that line cannot scale cleanly, the bigger venue story gets a lot less convincing.
Analyst rankings
source: institutional data
Institutional activity
institutional ownership data for VENU is being compiled.
source: institutional data
Price targets
3-5 year target range
n/a
n/a
$9
current price
n/a
target midpoint · n/a from current
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