HighGravityDataLive Nation Entertainment — Feb 19, 2026 release
Fiscal 2025 fourth-quarter results · 8-K Item 2.02 · Exhibit 99.1 · 0001335258-26-000007
Showing in the filing
AOI growth
“double-digit”
Period
FY2025
Measure
Company-defined measure
Source
Prose
All guidance in this release · 31
AOI growth for FY2025
“double-digit”
Adjusted operating income (AOI) growth for FY2026
“double-digit”
Concerts global fan attendance growth for FY2026
“high-single digits”
Concerts AOI growth for FY2026
“double-digit”
Venue Nation fan count for FY2026
“over 70 million fans”
Sponsorship commitments booked for FY2026
“Over 70%”
Venues opened in 2025 - run-rate annual AOI … for FY2028
“by 2028”
Run-rate annual AOI achievement for venues o… for FY2025
“by 2028”
IRRs for venues opening in 2026 for FY2026
“20%+”
Large venue new fan additions (run-rate basi… for FY2026
“five to seven million fans”
Preopening costs for venues under development for FY2026
“approximately $50 million”
Venues opening in 2026 - run-rate annual AOI… for FY2029
“by 2029”
Run-rate annual AOI achievement for venues o… for FY2026
“by 2029”
Venues opened in 2025 - IRR for the long term
“20%+ IRRs”
Venues opening in 2026 - IRR for the long term
“20%+ IRRs”
Primary fee-bearing GTV growth for FY2026
“mid to high-single digits”
Impact to ticketing AOI from anti-scalping/b… for FY2026
“mid-single digits”
Impact on ticketing AOI from initiatives to … for FY2025
“mid-single digits”
Full-year AOI to free cash flow—adjusted con… for FY2026
“expected to be higher than 2025”
Capital expenditures for FY2026
“$1.1 to $1.2 billion”
Capex for venue expansion and enhancement pr…
“Approximately $800 to $850 million”
Reduction in venue investment cash requireme… for FY2026
“approximately $250 million”
Venue investment cash requirements reduction…
“approximately $250 million”
Depreciation and amortization expense growth for FY2026
“10%”
Interest expense, net of interest income for FY2026
“$280 million”
Tax expense (% of AOI) for FY2026
“15-20% of AOI”
Cash taxes (% of tax expense) for FY2026
“approximately 80% of that amount”
Accretion expense for FY2026
“$160-180 million”
Share count for FY2026
“not expected to change materially from 2025”
Compounded operating income and AOI growth for the long term
“double-digit growth”
Fan additions from large venues opening in 2… for FY2026
“five to seven million fans”
Exhibit 99.1 · the passage around this item
… earlier in the release
PRESS RELEASE
Document Exhibit 99.1 LIVE NATION ENTERTAINMENT FULL YEAR AND FOURTH QUARTER 2025 RESULTS “In 2025, the bond between artists and their global fan bases reached new heights, fueling another year of double-digit growth. As artists continue to unlock untapped markets and headline the world’s most iconic stadiums, we’ve built momentum that carries us into a record-breaking 2026. We’re not just building venues; we’re crafting world-class stages designed to elevate the artist’s vision and their connection to fans. By strategically expanding our global footprint and investing in premium, upgraded infrastructure, we provide the canvas for career-defining performances. This investment doesn’t just drive ticket sales—it revitalizes local economies and cements our venues as cultural anchors. With a deep pipeline of large-scale shows and ticket demand continuing its ascent, we are positioned for another year of double-digit operating income and AOI growth in 2026. Our commitment to being the ultimate partner for artists ensures we are set to compound this double-digit growth for years to come.” –Michael Rapino, President and CEO ARTIST MOMENTUM AND GLOBAL FAN PASSION FUELED RECORD-SETTING 2025 (vs FY24) • Revenue of $25.2 billion, up 9% • Operating income of $1.3 billion, up 52% • Adjusted operating income (AOI) of $2.4 billion, up 10% • Concerts delivered record results with AOI of $687 million, u
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.