Venu Holding Corp(VENU) - 2025 Q1 - Earnings Call Transcript

Financial Data and Key Metrics Changes - Total assets increased by 19% from $178,417,515 as of December 31, 2024, to$212,882,187 as of March 31, 2025 [20] - Property and equipment rose by 33% to $182,906,190 as of March 31, 2025, up from$137,215,936 at the end of 2024 [21] - Fractional ownership sales reached $38,700,000 for the first quarter, significantly contributing to the balance sheet [21] Business Line Data and Key Metrics Changes - The company reported a modest decline in top-line sales year-over-year, attributed to a shift in daypart at Noat's Eatery and softer performance at Bourbon Brothers and Fill Along Event Center [17] - The launch of structured financing for Luxe Fire Suites has led to a 32$100 million to $300 million to the balance sheet with each development agreement [26] - A new property acquisition in El Paso, Texas, includes a$31,500,000 performance-based incentive package from the city [11] Company Strategy and Development Direction - The company aims to build world-class live music and hospitality destinations, focusing on fan experiences and public-private partnerships [5][6] - A partnership with Ryan & Company is expected to accelerate expansion, with a target of two new public-private partnerships per quarter [10][26] - The company plans to have nine open and operating entities by the end of 2025, increasing to 16 by 2026 [12] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in achieving operational profitability by 2026, driven by development profits and operational efficiencies [10] - The focus remains on enhancing guest experiences and unlocking value from current operations through smarter strategies [19] Other Important Information - The company has made strategic additions to its leadership team, including a new financial leader and strategic growth adviser [15] - The introduction of structured payment plans for fractional ownership has broadened access for buyers [13] Q&A Session Summary Question: Impact of Ryan and Company partnership on expansion - Management indicated that the partnership will dramatically accelerate expansion, potentially adding 200% more amphitheaters and music halls than originally projected [26][28] Question: New offerings at Ford Amphitheater - Management highlighted plans for new development agreements and enhanced fan experiences, including new dining options and event packages [32] Question: Performance of fire pit suites and financing model - The financing model has increased sales by 32%, and the company is expanding its market reach for fire pit suites [37] Question: Partnership with Sands Investment Group - This partnership aims to expand the market for fire pit suite ownership, allowing investors across the U.S. to participate [41]