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
Compounded operating income and AOI growth
“double-digit growth”
Period
The long term
Measure
GAAP-tied
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
Such forward-looking statements include, but are not limited to statements regarding record fan demand driving artist reach in 2026; momentum carrying the company into a record-breaking 2026; the depth of the company’s pipeline of large-scale shows and ticketing demand continuing its ascent, positioning the company for another year of double-digit operating income and adjusted operating income growth in 2026, and the company’s expectation that it will compound this double-digit growth for years to come; early indicators pointing to strong festival demand in 2026; expectations for Venue Nation fan growth in 2026; early fan demand signaling a record 2026 for artists worldwide; expectations that 2026 will be a record year for the company’s concerts business, with global fan attendance projected to grow high-single digits; expectations for adjusted operating income growth for the company’s concerts business in 2026; projected run-rate achievement and IRR for venues opened in 2025; the expectation that large venues opening through new builds and acquisitions planned for 2026 will add five to seven million fans on a run-rate basis, with over half in international markets; anticipated 2026 preopening costs for all venues under development and their projected date for annual run-rate achievement and resulting IRRs; the expectation that both North American and international markets will drive ticketing growth in 2026, with primary fee-bearing GTV anticipated to grow mid to high-single digits with concerts contributing the majority of this growth; the anticipated impact to ticketing adjusted operating income from ongoing initiatives to combat scalpers and bots; upward mo
later in the release …
the item shown at left
other guidance in this release
Text is the filed exhibit, verbatim.