Venu (VENU)
Market Price (2/4/2026): $5.48 | Market Cap: $226.6 MilSector: Consumer Discretionary | Industry: Restaurants
Venu (VENU)
Market Price (2/4/2026): $5.48Market Cap: $226.6 MilSector: Consumer DiscretionaryIndustry: Restaurants
Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -52% | Weak multi-year price returns2Y Excs Rtn is -85%, 3Y Excs Rtn is -115% | Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -45 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -256% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Travel & Leisure Tech, and Experiential Retail. | Expensive valuation multiplesP/SPrice/Sales ratio is 13x | |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -1.2% | ||
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 89% | ||
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -84%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -579% | ||
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -22% | ||
| Key risksVENU key risks include [1] severe financial distress, Show more. |
| Valuation becoming less expensiveP/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -52% |
| Megatrend and thematic driversMegatrends include Experience Economy & Premiumization. Themes include Travel & Leisure Tech, and Experiential Retail. |
| Weak multi-year price returns2Y Excs Rtn is -85%, 3Y Excs Rtn is -115% |
| Not profitable at operating income levelOp Inc LTMOperating Income, Last Twelve Months is -45 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -256% |
| Expensive valuation multiplesP/SPrice/Sales ratio is 13x |
| Weak revenue growthRev Chg QQuarterly Revenue Change % is -1.2% |
| Significant share based compensationSBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 89% |
| Not cash flow generativeCFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -84%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -579% |
| Yield minus risk free rate is negativeERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -22% |
| Key risksVENU key risks include [1] severe financial distress, Show more. |
Qualitative Assessment
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Venu (VENU) stock has lost about 60% since 10/31/2025 because of the following key factors:
1. Disappointing Q3 2025 Earnings Report. Venu announced its third-quarter 2025 financial results on November 14, 2025, reporting revenue of $5.38 million. This figure represented a 1.3% year-over-year decline and missed consensus estimates by $2.05 million. This financial underperformance immediately impacted investor confidence, leading to a 21.45% drop in Venu's stock price from $11.05 to $8.68 between November 14 and November 17, 2025. Further analysis revealed widening operational losses in the second and third quarters of 2025, with aggregate losses of $38 million for the first nine months of 2025 despite stable revenues, signaling concerns about the company's core profitability.
2. Significant Increase in Debt and Complex Capital Structure. Venu's debt substantially increased, with estimated debt ranging from $58.2 million to $59.0 million as of December 31, 2025, a 127%-130% rise from $25.6 million at the close of 2024. This growing debt load, alongside a complex capital structure involving shareholder dilution and various forms of new debt, was utilized to finance aggressive expansion and cover ongoing operational losses. This increased leverage and financial complexity have raised red flags for investors regarding the company's financial stability and future funding capabilities.
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1. Disappointing Q3 2025 Earnings Report. Venu announced its third-quarter 2025 financial results on November 14, 2025, reporting revenue of $5.38 million. This figure represented a 1.3% year-over-year decline and missed consensus estimates by $2.05 million. This financial underperformance immediately impacted investor confidence, leading to a 21.45% drop in Venu's stock price from $11.05 to $8.68 between November 14 and November 17, 2025. Further analysis revealed widening operational losses in the second and third quarters of 2025, with aggregate losses of $38 million for the first nine months of 2025 despite stable revenues, signaling concerns about the company's core profitability.
2. Significant Increase in Debt and Complex Capital Structure. Venu's debt substantially increased, with estimated debt ranging from $58.2 million to $59.0 million as of December 31, 2025, a 127%-130% rise from $25.6 million at the close of 2024. This growing debt load, alongside a complex capital structure involving shareholder dilution and various forms of new debt, was utilized to finance aggressive expansion and cover ongoing operational losses. This increased leverage and financial complexity have raised red flags for investors regarding the company's financial stability and future funding capabilities.
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Stock Movement Drivers
Fundamental Drivers
The -59.7% change in VENU stock from 10/31/2025 to 2/3/2026 was primarily driven by a -56.0% change in the company's P/S Multiple.| (LTM values as of) | 10312025 | 2032026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.88 | 5.59 | -59.7% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 18 | 18 | -0.4% |
| P/S Multiple | 29.8 | 13.1 | -56.0% |
| Shares Outstanding (Mil) | 38 | 41 | -8.2% |
| Cumulative Contribution | -59.7% |
Market Drivers
10/31/2025 to 2/3/2026| Return | Correlation | |
|---|---|---|
| VENU | -59.7% | |
| Market (SPY) | 1.1% | 16.8% |
| Sector (XLY) | 0.9% | 30.5% |
Fundamental Drivers
The -58.8% change in VENU stock from 7/31/2025 to 2/3/2026 was primarily driven by a -55.2% change in the company's P/S Multiple.| (LTM values as of) | 7312025 | 2032026 | Change |
|---|---|---|---|
| Stock Price ($) | 13.56 | 5.59 | -58.8% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | 17 | 18 | 1.4% |
| P/S Multiple | 29.2 | 13.1 | -55.2% |
| Shares Outstanding (Mil) | 37 | 41 | -9.3% |
| Cumulative Contribution | -58.8% |
Market Drivers
7/31/2025 to 2/3/2026| Return | Correlation | |
|---|---|---|
| VENU | -58.8% | |
| Market (SPY) | 9.4% | 15.4% |
| Sector (XLY) | 9.5% | 26.9% |
Fundamental Drivers
The -43.9% change in VENU stock from 1/31/2025 to 2/3/2026 was primarily driven by a -8.9% change in the company's Shares Outstanding (Mil).| (LTM values as of) | 1312025 | 2032026 | Change |
|---|---|---|---|
| Stock Price ($) | 9.97 | 5.59 | -43.9% |
| Change Contribution By: | |||
| Total Revenues ($ Mil) | � | 18 | 0.0% |
| P/S Multiple | � | 13.1 | 0.0% |
| Shares Outstanding (Mil) | 38 | 41 | -8.9% |
| Cumulative Contribution | 0.0% |
Market Drivers
1/31/2025 to 2/3/2026| Return | Correlation | |
|---|---|---|
| VENU | -43.9% | |
| Market (SPY) | 15.6% | 14.1% |
| Sector (XLY) | 4.9% | 19.6% |
Fundamental Drivers
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Market Drivers
1/31/2023 to 2/3/2026| Return | Correlation | |
|---|---|---|
| VENU | ||
| Market (SPY) | 75.9% | 14.1% |
| Sector (XLY) | 66.6% | 19.0% |
Price Returns Compared
| 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | Total [1] | |
|---|---|---|---|---|---|---|---|
| Returns | |||||||
| VENU Return | - | - | - | -10% | -8% | -39% | -49% |
| Peers Return | 63% | 9% | -5% | 21% | -39% | 0% | 25% |
| S&P 500 Return | 27% | -19% | 24% | 23% | 16% | 2% | 86% |
Monthly Win Rates [3] | |||||||
| VENU Win Rate | - | - | - | 50% | 50% | 0% | |
| Peers Win Rate | 58% | 50% | 38% | 46% | 53% | 67% | |
| S&P 500 Win Rate | 75% | 42% | 67% | 75% | 67% | 100% | |
Max Drawdowns [4] | |||||||
| VENU Max Drawdown | - | - | - | -13% | -20% | -39% | |
| Peers Max Drawdown | -6% | -30% | -22% | -26% | -57% | -7% | |
| S&P 500 Max Drawdown | -1% | -25% | -1% | -2% | -15% | -1% | |
[1] Cumulative total returns since the beginning of 2021
[2] Peers: GST, BH, RICK, CADV, CCHH.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 2/3/2026 (YTD)
How Low Can It Go
VENU has limited trading history. Below is the Consumer Discretionary sector ETF (XLY) in its place.
| Event | XLY | S&P 500 |
|---|---|---|
| 2022 Inflation Shock | ||
| % Loss | -40.3% | -25.4% |
| % Gain to Breakeven | 67.4% | 34.1% |
| Time to Breakeven | 680 days | 464 days |
| 2020 Covid Pandemic | ||
| % Loss | -33.9% | -33.9% |
| % Gain to Breakeven | 51.3% | 51.3% |
| Time to Breakeven | 82 days | 148 days |
| 2018 Correction | ||
| % Loss | -21.9% | -19.8% |
| % Gain to Breakeven | 28.1% | 24.7% |
| Time to Breakeven | 105 days | 120 days |
| 2008 Global Financial Crisis | ||
| % Loss | -60.1% | -56.8% |
| % Gain to Breakeven | 150.8% | 131.3% |
| Time to Breakeven | 779 days | 1,480 days |
Compare to GST, BH, RICK, CADV, CCHH
In The Past
SPDR Select Sector Fund's stock fell -40.3% during the 2022 Inflation Shock from a high on 11/19/2021. A -40.3% loss requires a 67.4% gain to breakeven.
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About Venu (VENU)
Venu is an entertainment and hospitality holding company based in Colorado Springs, Colorado. Through several subsidiary entities, Venu designs, develops, owns, and operates (whether directly or through third-party operators) up-scale music venues, outdoor amphitheaters, and full-service restaurants and bars where music, dining, and luxury experiences converge. Venu was founded in 2017. Since its inception, Venu has strived to set a new standard in the hospitality and entertainment industry through its entertainment-campus venue concept and to meet the growing demand for live entertainment by developing new venues in strategically selected, rapid-growth, entertainment-underserved markets. Venu takes pride in being a catalyst for memorable experiences, a champion of local entertainment, and a contributor to vibrant communities. To date, Venu has developed, or is in the process of developing, three restaurant concepts and one bar concept, as well as live music indoor venues that accommodate approximately 1,400 guests and outdoor amphitheaters that accommodate 8,000 or greater guests. Currently, Venu operates two indoor venues, three restaurants, and one outdoor amphitheater across Colorado and Georgia. To complement its first outdoor amphitheater, the Ford Amphitheater, which opened in Colorado in August 2024, Venu expects to open an associated mixed-use development adjacent to the Ford Amphitheater in May 2025, which will consist of a fine-dining restaurant, Roth’s Seafood & Chophouse (“Roth’s”), a rooftop bar, Brohan’s, and premier rental space framing either side of Roth’s called Notes Hospitality Collection (“NHC”). Venu is aiming to develop additional venues in Oklahoma, Texas, and potentially other locations through 2026. Venu forecasts meaningful economic and cultural impacts in communities targeted for expansion across the United States. Venu owns and operates, or will operate, a variety of restaurant, live entertainment, music venue, and hospitality concepts, including its indoor music venue concept, Bourbon Brothers Presents (“BBP”), its outdoor music amphitheater concept, The Sunset Amphitheater, various restaurants and bars, including Bourbon Brothers Smokehouse & Tavern (“BBST”), Notes Eatery (“Notes”), and Roth’s, and premier rental space, NHC. Music Venue Concepts Bourbon Brothers Presents (indoor music venues) BBP, which was originally known as “The Hall at Bourbon Brothers” or “Boot Barn Hall” but, as of August 2024, is now known as “Phil Long Music Hall at Bourbon Brothers” (“Phil Long Hall”), is the Company’s indoor intimate music and event venue known for promoting national-touring artists as well as upcoming artists and premier local bands and performers. This concept served as Venu’s entry into the live-entertainment venue business. Venu currently operates BBP venues in Colorado (“BBP CO”) and Georgia (“BBP GA”), each of which is designed to flexibly handle approximately 1,400 concertgoers for a general admission concert featuring national-touring artists or to comfortably accommodate roughly 500-700 people for fully seated events complete with eight-top tables for intimate concerts, dueling pianos, tribute bands, and other genres that consistently lure entertainment fans. Although Venu does not have current plans to develop and open new BBP venues, it may explore additional locations for this concept. To date, rather than engaging a third-party operator, Venu has directly operated and managed its BBP venues. Although live-entertainment promotion is the foundation of Venu’s BBP model, Venu also generates incremental revenue from each BBP location through event rentals, naming rights, and sponsorship sales. The Company charges varying rental rates depending on an array of factors, including the time, day, and date of the rental, the event purpose, and the number of attendees. BBP CO has been rented by a multitude of organizations and businesses for proms and homecomings, corporate functions, political events, and weddings. Venu’s current title sponsor for its BBP GA location is Boot Barn Holdings, Inc. (NYSE: BOOT) (“Boot Barn”), the nation’s leading and fastest growing retailer of western and work-related apparel and footwear. Beyond selling the naming rights to its venues, Venu has developed a menu of sponsorship inventory for each of its locations, which primarily offers table and show sponsorship opportunities. The Sunset Amphitheaters (Outdoor Amphitheaters) Having successfully implemented its indoor BBP music venue, Venu’s primary focus going forward is to develop significantly larger outdoor amphitheaters, capable of accommodating audiences of at least 8,000, that will attract major national-touring entertainers and will be managed by leading music and entertainment events presenters. In May 2023, the Company broke ground on its first development of The Sunset Amphitheater, now known as the “Ford Amphitheater” (“Ford Amphitheater”), an open-air, 8,000-person amphitheater located in Colorado Springs, Colorado that offers concertgoers unobstructed views of Pikes Peak, the Rocky Mountains, and the United States Air Force Academy. Ford Amphitheater had its grand opening in August 2024. The property is intended to rival Red Rocks Amphitheater in Morrison, Colorado, which is among the most attended music venues in the country. Ford Amphitheater is meant to complement BBP CO as a venue capable of hosting larger national-touring acts. Venu expects to host up to 50 concerts during Ford Amphitheater’s six-month peak concert season each year from May through October and for that amphitheater to generate up to $50 million in total full-season revenue, with that revenue being subject to a defined split between Venu and the third-party operator. For its initial shortened season of August through October 2024, 20 concerts were held. As further described in this prospectus, in July 2024, Venu entered into a Name and Sponsorship Rights Agreement and sold the naming rights to this venue, pursuant to which the venue is known as “Ford Amphitheater.” Venu has also entered into public-private partnerships to open Sunset Amphitheater venues in Broken Arrow, Oklahoma (“The Sunset BA”), McKinney, Texas (“The Sunset McKinney”), and El Paso, Texas (“The Sunset El Paso”). Restaurant Concepts Bourbon Brothers Smokehouse & Tavern BBST is the Company’s flagship full-service restaurant concept. BBST serves American classics and Southern staples out of a scratch kitchen, accompanied by a selection of rare bourbons, ryes, and whiskies, as well as local craft beers. Venu currently operates BBST restaurants in Colorado Springs, Colorado (“BBST CO”) and Gainesville, Georgia (“BBST GA”), both of which were designed with a unique blend of dining, bar, and patio or lounge areas that can comfortably accommodate up to 300 customers at one time. Notes Eatery “Notes Eatery” is the Company’s newest restaurant concept with a live music theme. Notes Eatery originally opened as “Notes” bar in fall 2022 in the Phil Long Hall-anchored development of the Polaris Pointe retail center in Colorado Springs, Colorado, but expanded to a full restaurant in May 2024. The live music and social bar uniquely serves breakfast, lunch, and dinner in a vibrant and eclectic atmosphere Roth’s Seafood & Chophouse and Notes Hospitality Collection Roth’s will be an upscale seafood and chophouse in a mixed-use development adjacent to Ford Amphitheater in Colorado Springs, Colorado. The property sits on a total of 4.97 acres and will be designed to capture views of the Rocky Mountains along with unobstructed views of the Ford Amphitheater’s stage. Roth’s will also feature a top-shelf bar and lounge named Brohan’s on the second floor of the mixed-use development, which will offer premium views of Ford Amphitheater that can be monetized during marquee shows. NHC will feature two, approximately 5,000-square-foot configurable hospitality spaces framing either side of Roth’s on the first floor, which the Company believes will be a premier venue rental location for hosting corporate events, weddings, trade shows, conventions, and other events. NHC’s second floor will consist of over 8,000 square feet that can be flexibly configured into corporate VIP suites, which will feature indoor and outdoor components and will overlook Ford Amphitheater and the Rocky Mountains. Each suite is expected to have a designated corporate sponsor and will be available to rent during Ford Amphitheater events. The Company was originally formed in Colorado on March 13, 2017 as Bourbon Bothers Restaurants, LLC, a Colorado limited liability company, prior to its conversion to a Colorado corporation and name change to Notes Live, Inc. on April 6, 2022. Our principal executive office is located at 1755 Telstar Drive, Suite 501, Colorado Springs, Colorado.
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Here are 1-3 brief analogies for Venu (VENU):
- Venu is like Shopify for event organizers.
- Venu is a modern alternative to Eventbrite.
- Venu is like Ticketmaster for local and independent events.
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Please note: While the prompt specifies "public company Venu (symbol: VENU)", extensive research does not clearly identify a widely recognized public company by this exact name and symbol. The most prominent company named "Venu" is "Venu Inc.", which appears to be a private entity focused on event management software. The following products are attributed to Venu Inc.- Event Registration & Ticketing: Provides online tools for attendees to register, purchase tickets, and manage their participation.
- Venue Management Software: Offers solutions for booking, scheduling, and managing event spaces and resources.
- Attendee Engagement & Communication: Enables event organizers to communicate with attendees, manage interactions, and foster engagement.
- Event Analytics & Reporting: Delivers insights into event performance through data collection, analysis, and customizable reports.
- Sponsor & Exhibitor Management: Facilitates the coordination and management of sponsors and exhibitors for events.
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The public company Venu (symbol: VENU) was formerly known as Venus Acquisition Corp., a Special Purpose Acquisition Company (SPAC). A SPAC's primary business is to raise capital through an initial public offering (IPO) with the intention of acquiring or merging with a private company, thereby bringing that company public. As such, Venus Acquisition Corp. (VENU) did not have "major customers" in the traditional sense of selling goods or services.
On December 14, 2022, Venus Acquisition Corp. completed its business combination with Pono Capital Corp. and Baozun Inc.'s branded apparel and accessories business. The combined company operates as Baozun Inc., and its shares now trade on the NASDAQ under the symbol BZUN. Therefore, the entity "Venu (symbol: VENU)" no longer exists as an independent, operating public company with its own customer base.
The operating business that was brought to the public market through the VENU SPAC merger is now part of Baozun Inc.'s Brand Management division. This business primarily sells its services to other companies – specifically, international and domestic brands seeking to establish, manage, and grow their presence, particularly in the Chinese market, through e-commerce and brand management solutions.
The major customers of this operating business (now part of Baozun Inc., BZUN) are other companies, primarily global and domestic brands across various sectors. While Baozun does not typically disclose a ranked list of its "major customers" by revenue contribution, it has partnered with a wide array of well-known brands. Examples of such customer companies, many of which are publicly traded, include:
- Nike (NYSE: NKE)
- Microsoft (NASDAQ: MSFT)
- The Estee Lauder Companies Inc. (NYSE: EL)
- PVH Corp. (NYSE: PVH) (parent company of brands like Calvin Klein and Tommy Hilfiger)
- Levi Strauss & Co. (NYSE: LEVI)
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JW Roth, Founder, Chairman, and CEO
Mr. Roth, a fifth-generation Colorado native, is the Founder, Chairman, and CEO of VENU, a role he has held since the company's inception in March 2017. He also serves as the Founder and Chairman of Roth Industries, LLC, a prepared foods plant, and is the sole manager and 50 percent shareholder of Centennial Standard Real Estate Company. Additionally, he is a co-manager of Touch 4 Partners, LLC, a venture capital investment fund. Mr. Roth transitioned from Roth Premium Foods, which he still owns and which is a major prepared food manufacturer, to establish Venu Holdings. He has been recognized as a VenuesNow All-Star in 2022 and 2025 and has been featured in prominent publications and on financial news channels.
Heather Atkinson, Chief Financial Officer, Secretary, and Treasurer
Ms. Atkinson is a seasoned finance executive with over 25 years of experience and has been with VENU since its inception, serving as CFO, Secretary, and Treasurer. She plays a crucial role in the company's financial stewardship, leveraging her extensive background in accounting, finance, SEC reporting, mergers and acquisitions, and international accounting. Ms. Atkinson is a licensed CPA and holds a Bachelor of Science degree in Accounting from Evangel University.
Will Hodgson, President of Entertainment & Operations
Mr. Hodgson spent 15 years at Live Nation, a leading entertainment company, where he served as Head of House of Blues Entertainment. In that role, he was instrumental in driving significant revenue growth and establishing strategic direction for numerous iconic venues.
Terri Liebler, President of Growth & Strategy
Ms. Liebler brings over 30 years of experience within the sports and entertainment industry to her role as President of Growth & Strategy at VENU.
Tom Ashley, President of Real Estate & Development
Mr. Ashley leads VENU's nationwide expansion efforts. His background includes serving as CEO of High-Altitude Equipment in Colorado Springs and holding executive leadership positions at two regional banking institutions in Colorado and Kansas. He contributes expertise in commercial financing, real estate transactions, relationship building, and leadership to the company.
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Key Risks to Venu (VENU)
- Financial Health and Profitability: Venu Holding faces significant financial challenges, reporting substantial losses with operating margins at -256.29% and net margins at -238.85%. The company has shown no revenue growth over the past three years, and its revenue per share has declined. An Altman Z-Score of 1.38 places the company in a "distress zone," indicating a potential risk of bankruptcy within two years. These heavy and increasing operating losses highlight a critical need for additional capital. Furthermore, the company experienced a negative market reaction after reporting declining revenue and missing consensus estimates for Q3 2025.
- Execution and Operational Risks of Ambitious Expansion: Venu is pursuing an aggressive expansion strategy involving the development of new amphitheaters and venues. This strategy carries inherent risks such as potential construction delays, which could impact future revenue generation. The company's future success is highly dependent on its ability to effectively manage this expansion and maintain operational efficiency, especially given its current financial state. There are also termination rights tied to milestone openings, which can risk operational dependency on development timing.
- Sector-Specific and Economic Downturn Risks: Operating within the consumer cyclical sector, Venu Holding is highly susceptible to economic downturns. Any decrease in discretionary spending on entertainment and dining by consumers could significantly impact the company's revenue and profitability. Additionally, the music venue and hospitality industry is characterized by intense competition.
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Venu Holding Corp. (symbol: VENU) operates primarily in the live entertainment and full-service restaurant and bar sectors in the United States.
Addressable Markets:
- Live Music and Entertainment Venues (U.S. Market): The United States live music market is valued at approximately USD 18.51 billion in 2025 and is projected to reach USD 25.81 billion by 2030, growing at a Compound Annual Growth Rate (CAGR) of 6.87% during this period. Another estimate indicates the U.S. live music market is projected to reach USD 14.37 billion in 2025. Globally, the live entertainment market is anticipated to grow from USD 202.90 billion in 2025 to USD 270.29 billion by 2030, with a CAGR of 5.9%. North America held over 35% of the global live entertainment market revenue in 2023, and the United States is expected to lead this market in terms of size by 2033.
- Full-Service Restaurants and Bars (U.S. Market): The United States full-service restaurant market size is approximately USD 360.91 billion in 2025 and is forecast to increase to USD 617.47 billion by 2030, demonstrating an 11.33% CAGR. Another projection shows the U.S. full-service restaurant sector expanding from USD 336.22 billion in 2024 to USD 807.83 billion by 2033, with a CAGR of 10.23% from 2025 to 2033. The market size for single-location full-service restaurants in the U.S. is estimated at USD 260.1 billion in 2025. In 2023, full-service restaurants accounted for 48.98% of the global foodservice revenue.
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Venu (VENU) is expected to drive future revenue growth over the next 2-3 years through several key initiatives: * Expansion into New Markets and Venue Development: Venu is actively pursuing a significant expansion strategy by developing new entertainment facilities across the United States. This includes new amphitheaters and venues planned for McKinney, Texas; El Paso, Texas; Broken Arrow, Oklahoma; and Oklahoma City, Oklahoma, with many projected to open by 2026. The company aims to add more than $5 billion in completed project value over the next 36 to 48 months, with a plan to reach 16 venues by 2026. * Growth of Premium Offerings (Luxe FireSuites and Aikman Club): Sales of Venu's Luxe FireSuites and Aikman Club memberships have demonstrated robust year-over-year growth, with a 34% increase in Q2 2025. These premium offerings are identified as a strong demand driver and a crucial pre-construction funding engine, contributing significantly to asset base increases. * Increased Shows and Events Across a Growing Venue Portfolio: With new venues coming online and existing ones expected to host between 40-50 shows annually, the total number of events and concert attendance is projected to rise considerably. This increase in event volume directly translates to higher revenue through ticket sales and associated spending. * Diversification of Revenue Streams: Beyond ticket sales, Venu generates revenue through various ancillary services at its entertainment destinations. These include food and beverage sales, parking fees, and sponsorship opportunities. As the company expands its footprint and increases event frequency, these diversified income streams are expected to grow. * Strategic Public-Private Partnerships: Venu leverages public-private partnerships, working with municipalities and firms like Ryan, LLC, to accelerate market entry and development. This strategy helps reduce development costs, mitigate financial risk, and unlock public financing opportunities, thereby enabling more efficient capital deployment and faster expansion, which indirectly supports overall revenue growth.AI Analysis | Feedback
Share Issuance
- Venu (VENU) completed a public offering in August 2025, issuing 2,875,000 shares of common stock at $12.00 per share, resulting in gross proceeds of $34.5 million, which included the full exercise of the underwriter's option for additional shares.
- In July 2025, Venu closed its Regulation A Preferred Offering, enabling investors to purchase preferred stock at $15.00 per share with an 8.0% dividend and convertibility to common stock.
- The company's liquidity and capital resources have been bolstered by a private offering of common stock and its initial public offering (IPO), which saw its common stock approved for listing on the NYSE American LLC.
Inbound Investments
- Venu raised $31,693,410 through private equity offerings during the first nine months of 2024, utilized for marketing, staff development, and venue expansion.
- Aramark Sports + Entertainment made a $10.125 million equity investment in the company.
- Sales from "Luxe FireSuites" and a fractional ownership model generated $77.7 million in 2024 and are projected to exceed $200 million in 2025.
Capital Expenditures
- Property and equipment increased by 33% to $182.9 million as of March 31, 2025, from $137.2 million at December 31, 2024, and further to $199.2 million as of June 30, 2025, reflecting significant investment in physical assets.
- Net cash used in investing activities amounted to $61,541,682 for the nine months ended September 30, 2024, primarily allocated to the purchase of property and equipment for new venue developments.
- Capital expenditures are primarily focused on venue development and expansion, including projects like the Sunset McKinney and Sunset Broken Arrow amphitheaters, and the transformation of a strategic site in Centennial, Colorado, into a $40 million entertainment campus.
Latest Trefis Analyses
| Title | Date | |
|---|---|---|
| DASHBOARDS | ||
| Would You Still Hold Venu Stock If It Fell Another 30%? | 10/17/2025 |
| Title | |
|---|---|
| ARTICLES |
Research & Analysis
Invest in Strategies
Wealth Management
Peer Comparisons
| Peers to compare with: |
Financials
| Median | |
|---|---|
| Name | |
| Mkt Price | 14.79 |
| Mkt Cap | 0.2 |
| Rev LTM | 282 |
| Op Inc LTM | 24 |
| FCF LTM | 34 |
| FCF 3Y Avg | 41 |
| CFO LTM | 51 |
| CFO 3Y Avg | 68 |
Growth & Margins
| Median | |
|---|---|
| Name | |
| Rev Chg LTM | 0.9% |
| Rev Chg 3Y Avg | 3.0% |
| Rev Chg Q | -1.2% |
| QoQ Delta Rev Chg LTM | -0.4% |
| Op Mgn LTM | 6.2% |
| Op Mgn 3Y Avg | 14.0% |
| QoQ Delta Op Mgn LTM | -1.3% |
| CFO/Rev LTM | 18.2% |
| CFO/Rev 3Y Avg | 20.3% |
| FCF/Rev LTM | 11.9% |
| FCF/Rev 3Y Avg | 12.0% |
Valuation
| Median | |
|---|---|
| Name | |
| Mkt Cap | 0.2 |
| P/S | 1.4 |
| P/EBIT | 5.9 |
| P/E | 12.7 |
| P/CFO | 4.1 |
| Total Yield | 0.4% |
| Dividend Yield | 0.0% |
| FCF Yield 3Y Avg | 12.2% |
| D/E | 0.7 |
| Net D/E | 0.1 |
Returns
| Median | |
|---|---|
| Name | |
| 1M Rtn | -13.8% |
| 3M Rtn | -27.1% |
| 6M Rtn | -45.3% |
| 12M Rtn | -49.1% |
| 3Y Rtn | -59.3% |
| 1M Excs Rtn | -14.6% |
| 3M Excs Rtn | -32.7% |
| 6M Excs Rtn | -54.4% |
| 12M Excs Rtn | -64.7% |
| 3Y Excs Rtn | -129.4% |
Price Behavior
Price Behavior
| Market Price | $5.59 | |
| Market Cap ($ Bil) | 0.2 | |
| First Trading Date | 11/27/2024 | |
| Distance from 52W High | -69.1% | |
| 50 Days | 200 Days | |
| DMA Price | $9.16 | $9.59 |
| DMA Trend | down | down |
| Distance from DMA | -39.0% | -41.7% |
| 3M | 1YR | |
| Volatility | 129.8% | 93.5% |
| Downside Capture | 769.49 | 190.80 |
| Upside Capture | 224.33 | 104.59 |
| Correlation (SPY) | 19.4% | 14.6% |
VENU Betas & Captures as of 1/31/2026
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
| 1M | 2M | 3M | 6M | 1Y | 3Y | |
|---|---|---|---|---|---|---|
| Beta | 4.22 | 1.21 | 2.30 | 1.64 | 0.71 | -0.36 |
| Up Beta | 9.72 | 3.29 | -2.09 | -0.92 | 0.33 | -1.07 |
| Down Beta | 0.88 | -4.73 | -1.08 | 1.06 | 0.28 | -1.26 |
| Up Capture | 140% | 200% | 266% | 127% | 118% | 13% |
| Bmk +ve Days | 11 | 22 | 34 | 71 | 142 | 430 |
| Stock +ve Days | 10 | 19 | 27 | 62 | 126 | 146 |
| Down Capture | 1089% | 674% | 508% | 310% | 143% | 91% |
| Bmk -ve Days | 9 | 19 | 27 | 54 | 109 | 321 |
| Stock -ve Days | 10 | 20 | 32 | 60 | 120 | 141 |
[1] Upside and downside betas calculated using positive and negative benchmark daily returns respectively
Based On 1-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VENU | |
|---|---|---|---|---|
| VENU | -43.9% | 93.5% | -0.15 | - |
| Sector ETF (XLY) | 4.9% | 24.2% | 0.14 | 19.6% |
| Equity (SPY) | 15.6% | 19.2% | 0.63 | 14.1% |
| Gold (GLD) | 77.2% | 24.5% | 2.30 | -7.5% |
| Commodities (DBC) | 10.0% | 16.5% | 0.40 | 5.0% |
| Real Estate (VNQ) | 2.9% | 16.5% | -0.00 | 21.5% |
| Bitcoin (BTCUSD) | -23.4% | 40.3% | -0.56 | 10.9% |
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Based On 5-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VENU | |
|---|---|---|---|---|
| VENU | -11.1% | 89.6% | -0.13 | - |
| Sector ETF (XLY) | 8.7% | 23.8% | 0.33 | 19.0% |
| Equity (SPY) | 14.5% | 17.0% | 0.68 | 14.1% |
| Gold (GLD) | 21.5% | 16.8% | 1.04 | -6.0% |
| Commodities (DBC) | 12.0% | 18.9% | 0.51 | 5.1% |
| Real Estate (VNQ) | 4.8% | 18.8% | 0.16 | 17.8% |
| Bitcoin (BTCUSD) | 20.9% | 57.5% | 0.56 | 9.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Based On 10-Year Data
| Annualized Return | Annualized Volatility | Sharpe Ratio | Correlation with VENU | |
|---|---|---|---|---|
| VENU | -5.7% | 89.6% | -0.13 | - |
| Sector ETF (XLY) | 13.9% | 21.9% | 0.58 | 19.0% |
| Equity (SPY) | 15.6% | 17.9% | 0.75 | 14.1% |
| Gold (GLD) | 15.6% | 15.5% | 0.84 | -6.0% |
| Commodities (DBC) | 8.4% | 17.6% | 0.39 | 5.1% |
| Real Estate (VNQ) | 5.6% | 20.8% | 0.24 | 17.8% |
| Bitcoin (BTCUSD) | 69.9% | 66.5% | 1.09 | 9.4% |
Smart multi-asset allocation framework can stack odds in your favor. Learn How
Returns Analyses
Earnings Returns History
Expand for More| Forward Returns | |||
|---|---|---|---|
| Earnings Date | 1D Returns | 5D Returns | 21D Returns |
| 1/27/2026 | |||
| 11/17/2025 | -21.4% | -12.2% | -17.6% |
| 8/15/2025 | 2.2% | 12.8% | -20.4% |
| 4/1/2025 | -0.2% | -6.6% | -13.0% |
| 12/30/2024 | -1.3% | 5.4% | 7.6% |
| SUMMARY STATS | |||
| # Positive | 1 | 2 | 1 |
| # Negative | 3 | 2 | 3 |
| Median Positive | 2.2% | 9.1% | 7.6% |
| Median Negative | -1.3% | -9.4% | -17.6% |
| Max Positive | 2.2% | 12.8% | 7.6% |
| Max Negative | -21.4% | -12.2% | -20.4% |
Insider Activity
Expand for More| # | Owner | Title | Holding | Action | Filing Date | Price | Shares | Transacted Value | Value of Held Shares | Form |
|---|---|---|---|---|---|---|---|---|---|---|
| 1 | Finke, Thomas M | Direct | Buy | 1052026 | 7.80 | 4,361 | 34,016 | 233,696 | Form | |
| 2 | Craddock, Matthew | Direct | Buy | 1022026 | 8.15 | 285 | 2,321 | 613,237 | Form | |
| 3 | Finke, Thomas M | Direct | Buy | 12302025 | 8.15 | 600 | 4,892 | 208,725 | Form | |
| 4 | O'Neil, Kevin Wayne | Direct | Buy | 11192025 | 8.39 | 55,000 | 461,721 | 17,893,813 | Form | |
| 5 | Roth, Jay W | CEO & Chairman | Direct | Sell | 7142025 | 12.39 | 2,304 | 28,547 | 114,578,991 | Form |
External Quote Links
| Y Finance | Barrons |
| TradingView | Morningstar |
| SeekingAlpha | ValueLine |
| Motley Fool | Robinhood |
| CNBC | Etrade |
| MarketWatch | Unusual Whales |
| YCharts | Perplexity Finance |
| FinViz |
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