Aureus Greenway

Legacy golf operations exhibit limited pricing power; 2025 one‑time green fees comprised roughly two‑thirds of revenue and fell year over year. Defense platforms can support premium pricing when mission‑critical, NDAA‑compliant and Blue UAS cleared, but that only materializes with validated performance, approvals and funded programs.

We do not yet see a multiyear record of pricing actions or margins to substantiate strong pricing power.