0001493152-26-023363
SEC filingRevenue grew 11.5% to $3.9M driven by new fine-dining venues, but heavy capital investment in amphitheater construction kept operating losses elevated at -$11.5M.
Revenue for the three months ended March 31, 2026 increased 11.5% to $3.9 million compared to $3.5 million in the prior year period. This growth was primarily driven by an increase in sales volumes and the use of premium ingredients at our Fine Dining & Hospitality Collection venues, Roth’s Sea & Steak and NHC, which opened in the second half of 2025. The company continues to benefit from its amphitheater operations, which contribute to overall revenue.
Management expects amphitheater revenue to grow in 2026 as the Ford Amphitheater increases its number of shows and average ticket prices year-over-year. The company plans to open The Sunset BA in Fall 2026, which will add further amphitheater revenue. General and administrative costs are expected to continue rising as the company expands into new markets and continues construction of entertainment campuses. The company's strategy includes developing multi-seasonal amphitheaters in McKinney, TX; El Paso, TX; and the greater Houston area, with expected openings through 2028.