TEN Holdings, Inc. filed its Form 10-Q for the quarterly period ended September 30, 2026, disclosing a net loss of $9,622 thousand for the nine months ended on that date, alongside a significant increase in shares outstanding following an equity offering completed during the period.

Key Highlights

  • Nine-month net loss: The company reported a net loss of $9,622 thousand for the nine months ended September 30, 2026, compared to a net loss of $9,607 thousand for the same period in 2025, according to the filing.
  • Third-quarter net loss: For the three months ended September 30, 2026, the company disclosed a net loss of $3,734 thousand, versus $1,987 thousand in the prior-year quarter.
  • Revenue: Nine-month revenue totaled $2,224 thousand, down from $2,398 thousand in the nine months ended September 30, 2025; quarterly revenue was $640 thousand versus $543 thousand a year earlier.
  • Shares outstanding increased: Common shares outstanding grew from 3,977,443 as of December 31, 2025 to 12,066,848 as of September 30, 2026, reflecting the issuance of 8,000,000 shares net of offering costs that raised $7,139 thousand.
  • Cash position: Cash and cash equivalents stood at $3,505 thousand as of September 30, 2026, up from $1,631 thousand at December 31, 2025.
  • Accumulated deficit: The accumulated deficit reached $31,053 thousand as of September 30, 2026, compared to $21,431 thousand at December 31, 2025.
  • Selling, general and administrative expense: SG&A expense for the nine months ended September 30, 2026 was $11,097 thousand, compared to $9,504 thousand in the same period of 2025.

TEN Holdings Reports Wider Operating Losses as SG&A Climbs and Share Count Triples

TEN Holdings, Inc. (NASDAQ:XHLD), a Nevada-incorporated company headquartered at 1 Rockefeller Plaza, 2nd Floor, New York, NY 10020, filed its quarterly report covering the period ended September 30, 2026. The company is classified as a non-accelerated filer, a smaller reporting company, and an emerging growth company. As of November 5, 2026, there were 12,066,848 shares of common stock, par value $0.0001 per share, outstanding, the filing states.

According to the filing, the company's loss from operations for the nine months ended September 30, 2026 was $9,578 thousand, compared to $8,048 thousand in the equivalent prior-year period. The increase in operating losses was driven in part by higher selling, general and administrative expenses, which rose to $11,097 thousand from $9,504 thousand year over year. Gross profit declined to $1,551 thousand for the nine-month period from $1,899 thousand in the prior year, as cost of revenue rose to $673 thousand from $499 thousand while revenue fell to $2,224 thousand from $2,398 thousand.

During the nine months ended September 30, 2026, the company issued 8,000,000 common shares, netting $7,139 thousand after offering costs, and also issued 89,405 shares upon exercise of stock options for proceeds of $731 thousand, the filing discloses. Total stockholders' equity was $3,115 thousand at September 30, 2026, down from $4,279 thousand at December 31, 2025. Total liabilities decreased substantially, to $1,988 thousand from $7,687 thousand, primarily reflecting a reduction in short-term loans from related parties, which fell from $4,571 thousand to $120 thousand. Stock-based compensation for the nine-month period was $588 thousand, compared to $3,517 thousand in the prior-year period.

What Was Disclosed

TEN Holdings filed its unaudited 10-Q for the period ended September 30, 2026, reporting a nine-month net loss of $9,622 thousand, quarterly revenue of $640 thousand, a significantly expanded share count following an equity issuance, and an accumulated deficit of $31,053 thousand on the balance sheet date.