TEN Holdings Reports Third Quarter 2025 Financial Results

Rhea-AI Summary

TEN Holdings (NASDAQ: XHLD) reported Q3 2025 results for the quarter ended September 30, 2025 outlining operational progress and higher public-company costs.

Key figures: Revenue $543,000 (+$8,000, +1.5% YoY); Cost of revenue $138,000 (+26.6% YoY); SG&A $2,185,000 (+66.7% YoY); Net loss $1,987,000 or $(0.10) per share (loss widened 103.8% YoY); Cash $310,000 (up from $48,000 at 12/31/2024); Capitalized software spend $828,000 YTD.

Corporate actions: launched Early Adopter Program for Ten Events Pro, entered technical partnership with Webinar.net with an estimated $1.2–$1.7M 2026 OpEx reduction, announced product partnership with V-Cube, and appointed CFO Virgilio D. Torres.

Positive

• Cash increased to $310,000 from $48,000 (Dec 31, 2024)
• Estimated $1.2–$1.7M operating expense reduction in 2026 from Webinar.net partnership
• Appointed new CFO Virgilio D. Torres with M&A and capital markets experience

Negative

• Net loss widened to $1,987,000 in Q3 2025, a 103.8% increase YoY
• SG&A rose to $2,185,000, up 66.7% YoY due to public-company costs
• Cost of revenue increased to $138,000, up 26.6% YoY driven by more physical events

Insights

Corporate Finance Analyst

Mixed quarter: tiny revenue growth and strategic partnerships offset by larger public-company costs and a wider net loss.

Revenue rose modestly to $543,000 for Q3 2025, a 1.5% increase year‑over‑year, while event mix shifted from virtual to more physical work. Cost of revenue and capitalized software spending remained material, and SG&A jumped to $2,185,000, driven by public company expenses such as audits and listing fees.

Net loss widened to $1,987,000 for the quarter and per‑share loss increased to $(0.10); cash improved to $310,000 at quarter end. Management highlights SaaS ambitions and partnerships with Webinar.net and V‑Cube, and forecasts an estimated $1.2–$1.7 million operating expense reduction in 2026 tied to the Webinar.net agreement.

The business case works only if SaaS adoption and ARR scale before recurring public‑company costs persist; key dependencies include successful beta adoption, realization of the stated $1.2–$1.7 million savings, and maintenance of cash while investing in software (capitalized spend was $828,000 year‑to‑date). Watch adoption metrics, ARR growth, quarterly SG&A run‑rate, and cash runway over the next four quarters to assess whether partnerships convert into the projected operational savings and revenue shift.

LANGHORNE, Pa., Nov. 10, 2025 /PRNewswire/ -- TEN Holdings, Inc. (NASDAQ: XHLD) ("TEN Holdings" or the "Company"), through its subsidiary, Ten Events, Inc., a provider of event planning, production, and broadcasting services, today announced its financial results for the quarter ended September 30, 2025.  

Management Commentary

"During Q3 2025, we again achieved year-over-year revenue growth. Although modest, this growth demonstrated the stability of our core business and, we believe, laid the foundational groundwork for future revenue growth and operational efficiency," said TEN Holdings Chief Executive Officer, Randolph Wilson Jones III.

"The quarter also saw us announce two pivotal achievements, the first of which was the launch of an Early Adopter Program for Ten Events Pro, our software-as-a-service product that provides professional-grade production quality for virtual and hybrid events. More recently, we disclosed the accelerated development of this new software through a technical partnership with Webinar.net, an enterprise-grade virtual event platform built on AWS that delivers scalable, secure, and highly engaging virtual and hybrid experiences with AI-powered features and real-time analytics. Leveraging this partnership will bring Ten Events Pro to market faster than anticipated, we believe positioning the Company for stronger market growth and accelerated annual recurring revenue (ARR). The partnership also delivers substantial operational efficiencies, including an estimated $1.2–$1.7 million reduction in operating expenses in 2026, further strengthening TEN Holdings' financial position.

We also announced the appointment of a new Chief Financial Officer with the expertise and experience to help maximize this growth -- Virgilio D. Torres. Mr. Torres has led public and private companies through mergers and acquisitions, capital raises, and complex financial strategies. This background, plus his many years of work in accounting, operations and corporate finance, will help our Company to not only improve internal financial controls but also strengthen our relationship with the banking and investment communities."

"Looking ahead," added Mr. Jones, "we're especially optimistic about the potential of our recent product partnership with V-Cube. By integrating their advanced platform with our technology, we can deliver enterprise-grade digital experiences that drive measurable business outcomes across North America. That expanded capability should help us capture new revenue opportunities, enhance our reputation within the enterprise communications and virtual events sector, and build equity value for our shareholders."

Financial Results

• Revenue for the three months ended September 30, 2025 was $543,000, an $8,000 or 1.5% increase compared to revenue of $535,000 for the three months ended September 30, 2024. The increase was primarily driven by the following factors:
• Revenue from delivered events – virtual and hybrid events decreased by $38,000, or 7.8%, compared to the three months ended September 30, 2024, mainly due to a number of hybrid events shifting from Q3 2025 to later parts of the year, reducing the expected forecasted revenue for the quarter.
• Revenue from delivered events – physical events increased by $46,000, or 102.2%, compared to the three months ended September 30, 2024, mainly due to a large number of physical events taking place in the quarter from existing and new clients.        
• Cost of revenue for the three months ended September 30, 2025 was $138,000, a $29,000 or 26.6% increase compared to revenue of $109,000 for the same three months in 2024. The increase was primarily due to a higher amount of physical events in the period compared to the same period in 2024, which has a higher labor component vs virtual or hybrid events.
• Selling, General, and Administrative Expenses were $2,185,000, an $874,000 or 66.7% increase compared to SG&A expenses of $1,311,000 for the same period last year. The increase was primarily due to the public company expenses that were not a factor during the same period last year. Expenses such as quarterly reviews and yearly audits, NASDAQ fees, D&O insurance, and SEC legal expenses.
• Interest expenses for the three months ended September 30, 2025 totaled $59,000, compared to $62,000 for the three months ended September 30, 2024. The decrease was primarily due to the lower outstanding short-term loans during the three months ended September 30, 2025 as compared to the same period last year.
• Net loss for the three months ended September 30, 2025 was $1,987,000, or $(0.10) per share, a $1,012,000 or 103.8% increase compared to a net loss of $975,000, or $(0.04) per share, for the same period in 2024. The loss was due to the increased amount in public company related expense that were not a factor in the same period last year along with a decrease in revenue from one of our biggest customers which host a bi-annual event causing a drop in revenue from that customer as 2025 if a bi-year.
• Weighted average number of common shares outstanding was 20,567,937 for the three months ended September 30, 2025 and 25,000,000 for the three months ended September 30, 2024.

Selected Balance Sheet and Cash Flow Results

• As of September 30, 2025, the Company had total cash and cash equivalents of $310,000 compared to $48,000 as of December 31, 2024. This increase was mainly the result of a stronger emphasis in cash collections and partial working capital received from the ELOC.
• Net cash used in investing activities, comprised wholly of the purchase of capitalized internal-use software, was $828,000 in the nine months ended September 30, 2025. This compares to $817,000, of which $781,000 comprised such software, in the nine months ended September 30, 2024.

Company Outlook

• TEN Holdings plans to consider additional strategic partnerships and collaborations that will enhance and diversify revenue growth opportunities for the business. Specifically, the Company intends to:
• Focus on recurring revenue streams through accelerated development of the Software-as-a-Service (SaaS) model;
• Develop product partnership with V-Cube Inc., by leveraging its event technologies for the North American market. 
• Identify, invest in, partner with, and acquire appropriate businesses that offer complementary and strategic advantages to enhance overall competitiveness and growth.

About Webinar.net

Webinar.net delivers the enterprise-grade infrastructure behind today's most demanding virtual and hybrid events. Engineered on AWS for resilience, scalability, and security, the platform integrates AI-powered features and real-time analytics to redefine audience engagement. Enterprises worldwide rely on Webinar.net to simplify complex digital communications while future-proofing their event strategies in a rapidly evolving landscape.

About TEN Holdings, Inc.

The Company, through its subsidiary, Ten Events, Inc., is a provider of event planning, production, and broadcasting services headquartered in Pennsylvania. The Company mainly produces virtual and hybrid events and physical events. Virtual and hybrid events involve virtual and hybrid event planning, production and broadcasting services, and continuing education services, all of which are supported by the Company's proprietary Xyvid Pro Platform. Physical events mainly involve live streaming and video recording of physical events. To learn more, visit www.tenholdingsinc.com.

FORWARD-LOOKING STATEMENTS

Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, may constitute "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. The words "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "plan," "potential," "predict," "project," "should," "target," "will," "would" and similar expressions are intended to identify forward-looking statements, although not all forward-looking statements contain these identifying words. Actual results may differ materially from those indicated by such forward-looking statements as a result of various important factors, including, but not limited to: the uncertainties related to market conditions and other factors discussed in the "Risk Factors" section of the Company's most recent Annual Report on Form 10-K filed with the U.S. Securities and Exchange Commission  (the "SEC") and other filings with the SEC. For these reasons, among others, investors are cautioned not to place undue reliance upon any forward-looking statements in this press release. Any forward-looking statements contained in this press release speak only as of the date hereof, and TEN Holdings, Inc. specifically disclaims any obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise, except as required by law.

For more information, please contact:

Investor Relations Contact:
Chad McNeal
Email: hello@tenholdingsinc.com

Investor Relations Inquiries:
Skyline Corporate Communications Group, LLC
Scott Powell, President
1177 Avenue of the Americas, 5th Floor
New York, New York 10036
Office: (646) 893-5835
Email: info@skylineccg.com

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SOURCE TEN Holdings, Inc.

FAQ

What were TEN Holdings (XHLD) Q3 2025 revenue and net loss figures?

Q3 2025 revenue was $543,000 and net loss was $1,987,000 or $(0.10) per share.

How did TEN Holdings' operating expenses change in Q3 2025?

SG&A increased to $2,185,000, a 66.7% YoY rise driven by public-company expenses.

What cash position did TEN Holdings report as of September 30, 2025?

Cash and cash equivalents were reported at $310,000 as of September 30, 2025.

What cost savings did TEN Holdings announce from the Webinar.net partnership?

The company estimated a $1.2–$1.7 million reduction in operating expenses in 2026 from the Webinar.net partnership.

What is Ten Events Pro and when did TEN Holdings launch its Early Adopter Program?

Ten Events Pro is the company's SaaS production software; the Early Adopter Program was launched during Q3 2025.

Who is the new CFO of TEN Holdings and what experience do they bring?

The new CFO is Virgilio D. Torres, noted for experience in M&A, capital raises, accounting, and corporate finance.