Company Overview - The GEO Group, Inc owns and/or delivers support services for 97 facilities with approximately 74,000 beds worldwide[8] - The company specializes in design, financing, development, and support services for secure facilities, processing centers, and community reentry centers[8] Financial Performance - Total revenue for YTD 2025 was $1,241,513 thousand, compared to $1,212,857 thousand for YTD 2024[16] - Net income attributable to The GEO Group, Inc for YTD 2025 was $48,666 thousand, compared to a loss of $9,845 thousand for YTD 2024[16] - Adjusted EBITDA for YTD 2025 was $218,363 thousand, compared to $236,893 thousand for YTD 2024[17] - The company's revenue guidance for 2025 is between $2,550,000 thousand and $2,575,000 thousand[14] Operational Metrics - The company's global operating portfolio includes 94 facilities in the United States with 68,944 beds and 3 international facilities with 5,246 beds[24] - The occupancy rate for owned and leased secure services facilities was 86% in Q2 2025[22] - Capital expenditures for YTD 2025 totaled $64,190 thousand, including $25,640 thousand for growth, $19,141 thousand for technology, and $19,409 thousand for facility maintenance[21] Debt and Capital Structure - As of June 30, 2025, the company's total debt payments were $220,115 thousand[37] - The company's outstanding principal for the Revolving Credit Facility due 2029 was $115,000 thousand as of June 30, 2025[39] - The outstanding principal for the Term Loan due 2029 was $296,867 thousand as of June 30, 2025[40] Customer Data - ICE accounted for 45% of GEO's revenue by customer type YTD 2025[31] - The contract retention rate for owned and leased facilities was 94%[30]

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 [23] - Property and equipment rose by 33% to $182,906,195 as of March 31, 2025, up from $137,215,936 at the end of 2024 [24] - Fractional ownership sales reached $38,700,000 for the first quarter, significantly contributing to the balance sheet [24] 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 [20] - The launch of structured financing for Luxe Fire Suites has led to a 32% increase in sales [15][48] Market Data and Key Metrics Changes - The company is expanding its market presence through public-private partnerships, with a goal of adding between $100 million to $300 million to the balance sheet with each development agreement [30] - A new property acquisition in El Paso, Texas, includes a $31,500,000 performance-based incentive package from the city [13] Company Strategy and Development Direction - Venue Holding Corporation aims to build world-class live music and hospitality destinations, focusing on fan experiences [6] - The company has launched a partnership with Ryan to accelerate national expansion, targeting two new public-private partnerships per quarter [12] - The introduction of structured financing for fractional ownership is expected to enhance sales and market reach [15][48] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's growth trajectory, with expectations of operational profitability by 2026 [12] - The focus remains on enhancing guest experiences and operational efficiency across all venues [22] Other Important Information - The company has made strategic additions to its leadership team, including a new financial leader and strategic growth adviser [18] - The expansion plan includes the opening of nine operating entities in 2025, with projections to reach 16 by 2026 [14] Q&A Session Summary Question: Inquiry about the Ryan and Company partnership and its impact on projections - Management indicated that the partnership with Ryan is significantly accelerating expansion, potentially adding 200% to original projections for new venues [30] Question: Inquiry about new offerings at Ford Amphitheater - Management highlighted ongoing expansion plans and the introduction of new dining experiences and enhanced fan engagement strategies [41] Question: Inquiry about the performance of fire pit suites and financing - Management confirmed that the financing model has increased sales by 32% and is expanding into new markets for investor participation [48] Question: Inquiry about the partnership with Sands Investment Group - Management explained that the partnership aims to broaden the market for fire pit suite ownership, leveraging Sands' platform for greater reach [56]

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% increase in sales [13][37] Market Data and Key Metrics Changes - The company is expanding its market presence through public-private partnerships, with a goal of adding between $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]

Financial Performance (Q1 2025) - Revenues reached $604647 thousand, slightly decreasing from $605672 thousand in Q1 2024[16] - Net income attributable to The GEO Group, Inc was $19558 thousand, down from $22668 thousand in Q1 2024[16] - Adjusted EBITDA was $99765 thousand, compared to $117643 thousand in Q1 2024[17] - Net Operating Income (NOI) totaled $155578 thousand, a decrease from $169060 thousand in Q1 2024[19] Guidance for 2025 - Revenue is projected to be between $2500000 thousand and $2550000 thousand[13] - Net income attributable to GEO is expected to range from $108000 thousand to $125000 thousand[13] - Adjusted EBITDA is forecasted to be between $465000 thousand and $490000 thousand[13] - Capital expenditures are estimated at $120000 thousand to $135000 thousand, including growth, technology, and facility maintenance[13] Operational Data (Q1 2025) - The company's worldwide operations include 98 facilities with approximately 77000 beds[7] - Owned and Leased Secure Services had 35455 revenue producing beds with 85% occupancy[21] - Managed Only facilities had 21919 revenue producing beds with 96% occupancy[21] - The contract retention rate for Owned & Leased facilities was 935%[28]