Venu Holding Corp
VENU NYSE Services-Amusement & Recreation Services Financials FY2023–FY2025
Revenue
Total sales reported in the income statement.
$17.9M
0.4%
vs prior year
Operating margin
Operating income as a share of revenue.
−257.8%
104.3 pts
Net income
Profit after all expenses, interest and tax.
−$44.1M
Free cash flow
Cash from operations minus capital spending.
−$134M
Return on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
−30.5%
4.6 pts
Market cap
Last close times the latest diluted share count, so it is approximate.
—
P/E
Last close divided by diluted earnings per share over the last four quarters.
—
On −$0.91 EPS (TTM)
What Venu Holding Corp does
No business description yet.
- Legal name
- Venu Holding Corp
- Fiscal year ends
- December 31, 2025
- Latest annual report
- 10-K · Mar 31, 2026
- Accession · CIK
- 0001493152-26-014137
0001770501
Revenue and margins
Venu Holding Corp had $17.9M of revenue in fiscal 2025, up 0.4% on the year before.
FY23
Revenue $12.6M
FY24
Revenue $17.8M
FY25
Revenue $17.9M
Q3 '23
Revenue $3.9M
Q4 '23
Revenue $12.4M
Q1 '24
Revenue $0.3M
Q2 '24
Revenue $4.2M
Q3 '24
Revenue $5.5M
Q4 '24
Revenue $17.1M
Q1 '25
Revenue $0.7M
Q2 '25
Revenue $4.5M
Q3 '25
Revenue $5.4M
Q4 '25
Revenue $4.5M
Q1 '26
Revenue $3.9M
Q2 '26
Revenue $4.8M
FY23
Gross —
Operating −88.4%
Net −83.5%
FCF −286.1%
FY24
Gross —
Operating −153.5%
Net −170.1%
FCF −385.4%
FY25
Gross —
Operating −257.8%
Net −246.4%
FCF −748.8%
Gross
Operating
Net
FCF
Q3 '23
Gross —
Operating −70.4%
Net −70.9%
FCF —
Q4 '23
Gross —
Operating −24.1%
Net −22.6%
FCF −83.0%
Q1 '24
Gross —
Operating −4,146.7%
Net −4,988.5%
FCF −3,728.4%
Q2 '24
Gross —
Operating −104.2%
Net −126.2%
FCF −322.9%
Q3 '24
Gross —
Operating −67.4%
Net −72.1%
FCF −424.4%
Q4 '24
Gross —
Operating −37.3%
Net −36.7%
FCF −119.5%
Q1 '25
Gross —
Operating −2,580.0%
Net −2,513.4%
FCF −4,325.3%
Q2 '25
Gross —
Operating −229.7%
Net −254.4%
FCF −392.4%
Q3 '25
Gross —
Operating −185.2%
Net −118.1%
FCF −611.3%
Q4 '25
Gross —
Operating −161.6%
Net −182.3%
FCF −1,157.6%
Q1 '26
Gross —
Operating −294.5%
Net −352.7%
FCF −1,906.9%
Q2 '26
Gross —
Operating −319.9%
Net −373.0%
FCF −1,415.9%
Gross
Operating
Net
FCF
Net income and earnings per share
Loss periods are shown in red.
FY23
Net income −$10.5M
FY24
Net income −$30.3M
FY25
Net income −$44.1M
Q3 '23
Net income −$2.8M
Q4 '23
Net income −$2.8M
Q1 '24
Net income −$15.6M
Q2 '24
Net income −$5.3M
Q3 '24
Net income −$3.9M
Q4 '24
Net income −$6.3M
Q1 '25
Net income −$18.1M
Q2 '25
Net income −$11.4M
Q3 '25
Net income −$6.4M
Q4 '25
Net income −$8.3M
Q1 '26
Net income −$13.8M
Q2 '26
Net income −$17.9M
FY23
Diluted EPS —
FY24
Diluted EPS −$0.86
FY25
Diluted EPS −$1.10
Q3 '23
Diluted EPS —
Q4 '23
Diluted EPS —
Q1 '24
Diluted EPS —
Q2 '24
Diluted EPS —
Q3 '24
Diluted EPS −$0.13
Q4 '24
Diluted EPS —
Q1 '25
Diluted EPS −$0.48
Q2 '25
Diluted EPS −$0.30
Q3 '25
Diluted EPS −$0.15
Q4 '25
Diluted EPS −$0.17
Q1 '26
Diluted EPS −$0.29
Q2 '26
Diluted EPS −$0.30
Returns on capital
After-tax operating income as a share of the money invested in the business: debt plus equity, minus cash.
FY23
Return on capital −39.9%
Return on equity −34.2%
Return on assets −12.6%
FY24
Return on capital −25.9%
Return on equity −48.0%
Return on assets −23.2%
FY25
Return on capital −30.5%
Return on equity −44.6%
Return on assets −16.1%
Return on capital
Return on equity
Return on assets
Cash flow
Free cash flow was −$134M in fiscal 2025, −748.8% of revenue. Cash from operations minus capital spending.
FY23
Free cash flow −$36.0M
FY24
Free cash flow −$68.7M
FY25
Free cash flow −$134M
Q3 '23
Free cash flow —
Q4 '23
Free cash flow −$10.3M
Q1 '24
Free cash flow −$11.7M
Q2 '24
Free cash flow −$13.5M
Q3 '24
Free cash flow −$23.1M
Q4 '24
Free cash flow −$20.4M
Q1 '25
Free cash flow −$31.1M
Q2 '25
Free cash flow −$17.6M
Q3 '25
Free cash flow −$32.9M
Q4 '25
Free cash flow −$52.4M
Q1 '26
Free cash flow −$74.4M
Q2 '26
Free cash flow −$67.9M
FY23
Cash from operations −$4.9M
Capital spending $31.2M
FY24
Cash from operations $3.8M
Capital spending $72.5M
FY25
Cash from operations $7.6M
Capital spending $142M
Cash from operations
Capital spending
Q3 '23
Cash from operations —
Capital spending —
Q4 '23
Cash from operations $1.6M
Capital spending $12.0M
Q1 '24
Cash from operations −$2.7M
Capital spending $8.9M
Q2 '24
Cash from operations $8.8M
Capital spending $22.3M
Q3 '24
Cash from operations $7.2M
Capital spending $30.4M
Q4 '24
Cash from operations −$9.6M
Capital spending $10.9M
Q1 '25
Cash from operations −$9.0M
Capital spending $22.0M
Q2 '25
Cash from operations −$2.4M
Capital spending $15.2M
Q3 '25
Cash from operations $6.3M
Capital spending $39.2M
Q4 '25
Cash from operations $12.8M
Capital spending $65.2M
Q1 '26
Cash from operations −$8.5M
Capital spending $65.9M
Q2 '26
Cash from operations −$0.9M
Capital spending $67.0M
Cash from operations
Capital spending
Dividends, buybacks and share count
Venu Holding Corp returned — to shareholders in fiscal 2025. The diluted share count rose 243.4%.
FY23
Dividends —
Buybacks —
FY24
Dividends —
Buybacks —
FY25
Dividends —
Buybacks —
Dividends
Buybacks
FY23
Diluted shares —
FY24
Diluted shares 0.01B
FY25
Diluted shares 0.04B
Balance sheet
Cash, debt and the ratios that show how comfortably Venu Holding Corp can carry it.
FY23
Cash $20.2M
Debt $11.5M
FY24
Cash $38.0M
Debt $25.6M
FY25
Cash $41.3M
Debt $58.9M
Cash
Debt
| Fiscal year end | FY23 | FY24 | FY25 |
|---|---|---|---|
| Cash and short-term investments | $20.2M | $38.0M | $41.3M |
| Debt incl. finance leases | $11.5M | $25.6M | $58.9M |
| Debt / equity | 0.4x | 0.3x | 0.6x |
| Interest coverage | −33.6x | −8.6x | −10.1x |
| Current ratio | 4.2x | 1.6x | 0.8x |
| Quick ratio | 4.2x | 1.6x | 0.8x |
| Total assets | $83.2M | $178M | $371M |
| Total liabilities | $21.2M | $47.6M | $172M |
| Shareholders' equity | $30.8M | $95.7M | $102M |
| Net debt (− = net cash) | −$8.7M | −$12.3M | $17.6M |
Insider trades
Open-market purchases and sales by officers, directors and 10% owners, from Form 4 filings. 'Plan' marks trades under a pre-arranged Rule 10b5-1 plan.
Bought, 12 months
$0.0M
0 insiders
Sold, 12 months
$0.0M
0 insiders
Of sales under plans
—
$0.0M
No open-market insider trades in the last 12 months.
Piotroski F-score
Nine pass/fail tests of profitability, funding and efficiency. 8–9 is strong, 0–2 weak.
| Test | FY23 | FY24 | FY25 |
|---|---|---|---|
| Net income is positive | ✕ | ✕ | ✕ |
| Cash from operations is positive | ✕ | ✓ | ✓ |
| Return on assets rose | — | ✕ | ✓ |
| Cash from operations exceeds net income | ✓ | ✓ | ✓ |
| Debt fell relative to assets | — | ✕ | ✕ |
| Current ratio rose | — | ✕ | ✕ |
| Share count didn't rise | — | — | ✕ |
| Gross margin rose | — | — | — |
| Revenue rose relative to assets | — | ✕ | ✕ |
| F-score | — / 3 | 2 / 7 | 3 / 8 |
| Accruals ratio | −6.8% | −26.1% | −18.9% |
| Altman Z'' | 1.19 | 0.75 | −1.25 |
3 years of figures
US$ millions unless stated. Hover a ratio's name for its definition.
| Fiscal year | FY23 | FY24 | FY25 |
|---|---|---|---|
| Income statement | |||
| Revenue | $12.6M | $17.8M | $17.9M |
| Net interest income | — | $0.7M | $0.2M |
| Operating income | −$11.1M | −$27.4M | −$46.1M |
| Interest expense | $0.3M | $3.2M | $4.6M |
| Pretax income | −$11.4M | −$32.8M | −$50.8M |
| Net income | −$10.5M | −$30.3M | −$44.1M |
| Diluted EPS | — | −$0.86 | −$1.10 |
| Diluted shares | — | 0.01B | 0.04B |
| Cash flow | |||
| Cash from operations | −$4.9M | $3.8M | $7.6M |
| Capital expenditure | $31.2M | $72.5M | $142M |
| Free cash flow | −$36.0M | −$68.7M | −$134M |
| Depreciation and amortization | $1.8M | $3.6M | $6.1M |
| Stock-based compensation | $1.6M | $12.0M | $15.1M |
| Balance sheet | |||
| Cash and short-term investments | $20.2M | $38.0M | $41.3M |
| Total debt | $11.5M | $25.6M | $58.9M |
| Current assets | $20.6M | $39.0M | $44.3M |
| Current liabilities | $4.9M | $24.5M | $57.4M |
| Inventory | $0.2M | $0.2M | $0.5M |
| Property and equipment, net | $57.7M | $137M | $306M |
| Intangible assets | $0.3M | $0.2M | $0.1M |
| Total assets | $83.2M | $178M | $371M |
| Total liabilities | $21.2M | $47.6M | $172M |
| Shareholders' equity | $30.8M | $95.7M | $102M |
| Margins | |||
| Operating margin | −88.4% | −153.5% | −257.8% |
| EBITDA margin | −74.0% | −133.4% | −223.6% |
| Net margin | −83.5% | −170.1% | −246.4% |
| FCF margin | −286.1% | −385.4% | −748.8% |
| Net interest share of revenue | — | 4.0% | 1.1% |
| Returns | |||
| Return on capital | −39.9% | −25.9% | −30.5% |
| Return on capital employed | −14.2% | −17.8% | −14.7% |
| Return on equity | −34.2% | −48.0% | −44.6% |
| Return on assets | −12.6% | −23.2% | −16.1% |
| Return on tangible equity | −34.5% | −31.8% | −43.3% |
| Growth | |||
| Revenue growth | — | 41.6% | 0.4% |
| Share count change | — | — | 243.4% |
| Financial health | |||
| Debt / equity | 0.4x | 0.3x | 0.6x |
| Interest coverage | −33.6x | −8.6x | −10.1x |
| Current ratio | 4.2x | 1.6x | 0.8x |
| Quick ratio | 4.2x | 1.6x | 0.8x |
| Capital allocation | |||
| Capex / revenue | 247.4% | 406.4% | 791.5% |
| Stock comp / revenue | 12.8% | 67.4% | 84.2% |
| Quality scores | |||
| Piotroski F-score | — | 2.0 | 3.0 |
| Altman Z'' | 1.2 | 0.7 | −1.2 |
| Accruals ratio | −6.8% | −26.1% | −18.9% |
Source: SEC EDGAR XBRL filings (CIK 0001770501). Data updated October 24, 2026. Quarterly fourth quarters are the full year minus the first nine months. For information only — not investment advice. Check the original filings before relying on any figure.