TEN Holdings, Inc. Financials
This page shows TEN Holdings, Inc. (XHLD) financial statements, including the income statement, balance sheet, cash flow statement, and key financial ratios. View 3 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).
Financial Health Signals
Based on FY2025 annual data. Scores normalized against common benchmarks. How we calculate these scores
TEN Holdings, Inc. has an operating margin of -432.5%, meaning the company retains $-433 of operating profit per $100 of revenue. This below-average margin results in a low score of 0/100, suggesting thin profitability after operating expenses. This is down from -77.8% the prior year.
TEN Holdings, Inc.'s revenue declined 11.4% year-over-year, from $3.5M to $3.1M. This contraction results in a growth score of 14/100.
TEN Holdings, Inc. carries a low D/E ratio of 1.80, meaning only $1.80 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 65/100, indicating a strong balance sheet with room for future borrowing.
TEN Holdings, Inc.'s current ratio of 1.44 means current assets barely cover short-term liabilities. This tight liquidity results in a low score of 24/100, which could limit financial flexibility.
While TEN Holdings, Inc. generated -$10.1M in operating cash flow, capex of $38K consumed most of it, leaving -$10.1M in free cash flow. This results in a low score of 0/100, reflecting heavy capital investment rather than weak cash generation.
TEN Holdings, Inc. generates a -455.9% ROE, indicating limited profit relative to shareholders' investment. This results in a returns score of 0/100.
TEN Holdings, Inc. passes 3 of 9 financial strength tests. 1 of 4 profitability signals pass, 2 of 3 leverage/liquidity signals pass, neither operating efficiency signal passes.
For every $1 of reported earnings, TEN Holdings, Inc. generates $0.52 in operating cash flow (-$10.1M OCF vs -$19.5M net income). This low ratio suggests earnings are primarily driven by accounting accruals rather than cash generation, which may not be sustainable.
TEN Holdings, Inc. earns $-55.7 in operating income for every $1 of interest expense (-$13.4M vs $241K). This narrow margin raises concern about the company's ability to service its debt if operating income declines.
Key Financial Metrics
Earnings & Revenue
TEN Holdings, Inc. generated $3.1M in revenue in fiscal year 2025. This represents a decrease of 11.4% from the prior year.
TEN Holdings, Inc.'s EBITDA was -$12.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 405.7% from the prior year.
TEN Holdings, Inc. reported -$19.5M in net income in fiscal year 2025. This represents a decrease of 557.3% from the prior year.
TEN Holdings, Inc. earned $-8.58 per diluted share (EPS) in fiscal year 2025. This represents a decrease of 7050.0% from the prior year.
Cash & Balance Sheet
TEN Holdings, Inc. generated -$10.1M in free cash flow in fiscal year 2025, representing cash available after capex. This represents a decrease of 300.4% from the prior year.
TEN Holdings, Inc. held $1.6M in cash against $0 in long-term debt as of fiscal year 2025.
TEN Holdings, Inc. had 4M shares outstanding in fiscal year 2025. This represents a decrease of 84.5% from the prior year.
Margins & Returns
TEN Holdings, Inc.'s gross margin was 78.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs. This is down 2.7 percentage points from the prior year.
TEN Holdings, Inc.'s operating margin was -432.5% in fiscal year 2025, reflecting core business profitability. This is down 354.7 percentage points from the prior year.
TEN Holdings, Inc.'s net profit margin was -628.5% in fiscal year 2025, showing the share of revenue converted to profit. This is down 543.8 percentage points from the prior year.
TEN Holdings, Inc.'s ROE was -455.9% in fiscal year 2025, measuring profit generated per dollar of shareholder equity.
Capital Allocation
TEN Holdings, Inc. invested $38K in capex in fiscal year 2025, funding long-term assets and infrastructure. This represents an increase of 0.0% from the prior year.
XHLD Income Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $543K-51.3% | $1.1M+51.0% | $739K-9.7% | $818K+52.9% | $535K-47.7% | $1.0M-9.3% | $1.1M | N/A |
| Cost of Revenue | $138K-21.1% | $175K-5.9% | $186K+56.3% | $119K+9.2% | $109K-22.7% | $141K-50.2% | $283K | N/A |
| Gross Profit | $405K-57.0% | $941K+70.2% | $553K-20.9% | $699K+64.1% | $426K-51.7% | $882K+4.4% | $845K | N/A |
| R&D Expenses | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| SG&A Expenses | $2.2M+1.5% | $2.2M-58.3% | $5.2M+216.9% | $1.6M+24.3% | $1.3M+5.5% | $1.2M+3.1% | $1.2M | N/A |
| Operating Income | -$1.9M-41.7% | -$1.4M+71.4% | -$4.8M-340.5% | -$1.1M-20.2% | -$899K-140.4% | -$374K0.0% | -$374K | N/A |
| Interest Expense | $59K-26.3% | $80K+15.9% | $69K-6.8% | $74K+19.4% | $62K+29.2% | $48K+84.6% | $26K | N/A |
| Income Tax | N/A | N/A | N/A | N/A | -$9K | N/A | N/A | N/A |
| Net Income | -$2.0M+28.6% | -$2.8M+42.4% | -$4.8M-314.0% | -$1.2M-19.8% | -$975K-132.1% | -$420K-3.7% | -$405K | N/A |
| EPS (Diluted) | $-0.10+23.1% | $-0.13+27.8% | $-0.18 | N/A | $-0.04-100.0% | $-0.020.0% | $-0.02 | N/A |
XHLD Balance Sheet
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Total Assets | $10.7M-2.8% | $11.1M+2.5% | $10.8M+68.0% | $6.4M | N/A | N/A | N/A | $4.8M |
| Current Assets | $3.2M-5.3% | $3.3M+15.4% | $2.9M+61.6% | $1.8M | N/A | N/A | N/A | $910K |
| Cash & Equivalents | $310K-58.1% | $739K+199.2% | $247K+414.6% | $48K-81.3% | $257K+89.0% | $136K-67.9% | $424K+18.8% | $357K |
| Inventory | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Accounts Receivable | $538K+130.9% | $233K-26.5% | $317K-38.4% | $515K | N/A | N/A | N/A | $359K |
| Goodwill | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Liabilities | $7.0M+21.8% | $5.7M-2.7% | $5.9M-26.8% | $8.0M | N/A | N/A | N/A | $3.7M |
| Current Liabilities | $6.5M+24.1% | $5.3M-2.6% | $5.4M-28.3% | $7.5M | N/A | N/A | N/A | $3.1M |
| Long-Term Debt | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Total Equity | $3.8M-29.2% | $5.3M+8.6% | $4.9M+407.4% | -$1.6M-113.9% | -$748K-429.5% | $227K-64.9% | $647K-38.4% | $1.1M |
| Retained Earnings | -$11.5M-20.8% | -$9.5M-41.2% | -$6.8M-251.6% | -$1.9M | N/A | N/A | N/A | $1.0M |
XHLD Cash Flow Statement
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Operating Cash Flow | -$1.5M-84.1% | -$792K+88.3% | -$6.8M-839.8% | -$722K+4.5% | -$756K-77.5% | -$426K+26.7% | -$581K | N/A |
| Capital Expenditures | N/A | N/A | N/A | $2K-66.7% | $6K-68.4% | $19K+72.7% | $11K | N/A |
| Free Cash Flow | N/A | N/A | N/A | -$724K+5.0% | -$762K-71.2% | -$445K+24.8% | -$592K | N/A |
| Investing Cash Flow | -$298K-16.0% | -$257K+5.9% | -$273K-24.1% | -$220K+20.3% | -$276K-1.5% | -$272K-1.1% | -$269K | N/A |
| Financing Cash Flow | $1.3M-13.9% | $1.5M-78.8% | $7.3M+890.0% | $733K-36.4% | $1.2M+181.2% | $410K-55.3% | $917K | N/A |
| Dividends Paid | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
| Share Buybacks | N/A | N/A | N/A | N/A | N/A | N/A | N/A | N/A |
XHLD Financial Ratios
| Metric | Q2'26 | Q1'26 | Q4'25 | Q3'25 | Q2'25 | Q1'25 | Q4'24 | Q3'24 |
|---|---|---|---|---|---|---|---|---|
| Gross Margin | 74.6%-9.7pp | 84.3%+9.5pp | 74.8%-10.6pp | 85.5%+5.8pp | 79.6%-6.6pp | 86.2%+11.3pp | 74.9% | N/A |
| Operating Margin | -354.9%-233.0pp | -121.9%+522.5pp | -644.4%-512.2pp | -132.1%+35.9pp | -168.0%-131.5pp | -36.6%-3.4pp | -33.2% | N/A |
| Net Margin | -365.9%-116.5pp | -249.5%+404.9pp | -654.4%-511.6pp | -142.8%+39.5pp | -182.2%-141.2pp | -41.1%-5.2pp | -35.9% | N/A |
| Return on Equity | -52.5%-0.4pp | -52.1%+46.2pp | -98.3% | N/A | N/A | -185.0%-122.4pp | -62.6% | N/A |
| Return on Assets | -18.5%+6.7pp | -25.2%+19.6pp | -44.8%-26.6pp | -18.2% | N/A | N/A | N/A | N/A |
| Current Ratio | 0.48-0.2 | 0.63+0.1 | 0.54+0.3 | 0.24 | N/A | N/A | N/A | 0.29 |
| Debt-to-Equity | 1.84+0.8 | 1.07-0.1 | 1.19+6.2 | -5.01 | N/A | N/A | N/A | 3.54 |
| FCF Margin | N/A | N/A | N/A | -88.5%+53.9pp | -142.4%-98.9pp | -43.5%+9.0pp | -52.5% | N/A |
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Frequently Asked Questions
What is TEN Holdings, Inc.'s annual revenue?
TEN Holdings, Inc. (XHLD) reported $3.1M in total revenue for fiscal year 2025. This represents a -11.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.
How fast is TEN Holdings, Inc.'s revenue growing?
TEN Holdings, Inc. (XHLD) revenue declined by 11.4% year-over-year, from $3.5M to $3.1M in fiscal year 2025.
Is TEN Holdings, Inc. profitable?
No, TEN Holdings, Inc. (XHLD) reported a net income of -$19.5M in fiscal year 2025, with a net profit margin of -628.5%.
What is TEN Holdings, Inc.'s EBITDA?
TEN Holdings, Inc. (XHLD) had EBITDA of -$12.8M in fiscal year 2025, measuring earnings before interest, taxes, depreciation, and amortization.
What is TEN Holdings, Inc.'s gross margin?
TEN Holdings, Inc. (XHLD) had a gross margin of 78.6% in fiscal year 2025, indicating the percentage of revenue retained after direct costs of goods sold.
What is TEN Holdings, Inc.'s operating margin?
TEN Holdings, Inc. (XHLD) had an operating margin of -432.5% in fiscal year 2025, reflecting the profitability of core business operations before interest and taxes.
What is TEN Holdings, Inc.'s net profit margin?
TEN Holdings, Inc. (XHLD) had a net profit margin of -628.5% in fiscal year 2025, representing the share of revenue converted into profit after all expenses.
What is TEN Holdings, Inc.'s return on equity (ROE)?
TEN Holdings, Inc. (XHLD) has a return on equity of -455.9% for fiscal year 2025, measuring how efficiently the company generates profit from shareholder equity.
What is TEN Holdings, Inc.'s free cash flow?
TEN Holdings, Inc. (XHLD) generated -$10.1M in free cash flow during fiscal year 2025. This represents a -300.4% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.
What is TEN Holdings, Inc.'s operating cash flow?
TEN Holdings, Inc. (XHLD) generated -$10.1M in operating cash flow during fiscal year 2025, representing cash generated from core business activities.
What are TEN Holdings, Inc.'s total assets?
TEN Holdings, Inc. (XHLD) had $12.0M in total assets as of fiscal year 2025, including both current and long-term assets.
What are TEN Holdings, Inc.'s capital expenditures?
TEN Holdings, Inc. (XHLD) invested $38K in capital expenditures during fiscal year 2025, funding long-term assets and infrastructure.
What is TEN Holdings, Inc.'s current ratio?
TEN Holdings, Inc. (XHLD) had a current ratio of 1.44 as of fiscal year 2025, which is considered adequate.
What is TEN Holdings, Inc.'s debt-to-equity ratio?
TEN Holdings, Inc. (XHLD) had a debt-to-equity ratio of 1.80 as of fiscal year 2025, measuring the company's financial leverage by comparing total debt to shareholder equity.
What is TEN Holdings, Inc.'s return on assets (ROA)?
TEN Holdings, Inc. (XHLD) had a return on assets of -163.0% for fiscal year 2025, measuring how efficiently the company uses its assets to generate profit.
What is TEN Holdings, Inc.'s cash runway?
Based on fiscal year 2025 data, TEN Holdings, Inc. (XHLD) had $1.6M in cash against an annual operating cash burn of $10.1M. This gives an estimated cash runway of approximately 2 months at the current burn rate. Cash runway measures how long a company can continue operating before running out of cash, assuming no additional funding.
What is TEN Holdings, Inc.'s Piotroski F-Score?
TEN Holdings, Inc. (XHLD) has a Piotroski F-Score of 3 out of 9, indicating weak financial health. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7–9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.
Are TEN Holdings, Inc.'s earnings high quality?
TEN Holdings, Inc. (XHLD) has an earnings quality ratio of 0.52x, considered low quality (accrual-driven). This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.
Can TEN Holdings, Inc. cover its interest payments?
TEN Holdings, Inc. (XHLD) has an interest coverage ratio of -55.7x, meaning it can struggle to cover its interest obligations. This ratio divides operating income by interest expense. Ratios above 5x indicate strong debt-servicing ability, while ratios below 2x suggest the company may face difficulty meeting interest payments if earnings decline. Learn more in our complete guide to financial health indicators.
How financially healthy is TEN Holdings, Inc.?
TEN Holdings, Inc. (XHLD) scores 17 out of 100 on our Financial Profile, indicating weak overall financial health. This composite score evaluates six dimensions: profitability (operating margin), revenue growth, leverage (debt-to-equity), liquidity (current ratio), cash flow quality (free cash flow margin), and shareholder returns (return on equity). Each dimension is normalized against standard financial benchmarks. Learn more in our complete guide to financial health indicators.