Highlights 

  • Q3 revenue increases 1.5% to 543,000 USD, driven by higher physical event activity. 
  • Early Adopter Program launched for Ten Events Pro SaaS software platform. 
  • A new CFO appointed to strengthen financial strategy and support operational growth. 

TEN Holdings, Inc. (NASDAQ:XHLD), via its subsidiary Ten Events, Inc., reported financial results for the quarter ended September 30, 2025. Revenue for Q3 2025 totaled 543,000 USD, a 1.5% increase from 535,000 USD in the same quarter of 2024. The growth was largely driven by a 102.2% rise in revenue from physical events, offsetting a 7.8% decline in virtual and hybrid event revenue due to timing adjustments. 

Cost of revenue increased to 138,000 USD from 109,000 USD, mainly due to higher labor requirements associated with physical events compared to virtual or hybrid events. Selling, general, and administrative expenses rose to 2,185,000 USD from 1,311,000 USD, reflecting new public company costs including quarterly reviews, annual audits, NASDAQ fees, D&O insurance, and SEC-related legal expenses. 

Interest expense for Q3 2025 totaled 59,000 USD, slightly down from 62,000 USD in Q3 2024, primarily reflecting lower short-term borrowings. Net loss for the quarter was 1,987,000 USD, or USD 0.10 per share, compared with a net loss of 975,000 USD, or USD 0.04 per share, in Q3 2024. The increase in net loss was primarily due to public company expenses and a decrease in revenue from a bi-annual customer event. Weighted average shares outstanding were 20,567,937 in Q3 2025, compared with 25,000,000 in Q3 2024. 

Management Commentary 

Randolph Wilson Jones III, CEO of TEN Holdings, stated, “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.” 

He added, “The quarter also saw two significant achievements. First, the launch of an Early Adopter Program for Ten Events Pro, our SaaS product for professional-grade virtual and hybrid events. Second, the accelerated development of this software through a technical partnership with Webinar.net. This partnership will bring Ten Events Pro to market faster than anticipated and deliver operational efficiencies, including an estimated 1.2–1.7M USD reduction in operating expenses in 2026.” 

Strategic and Operational Developments 

TEN Holdings appointed Virgilio D. Torres as CFO, bringing extensive expertise in accounting, operations, corporate finance, and strategic transactions. The company also announced a partnership with V-Cube to integrate its platform with Ten Events Pro, aiming to enhance digital event experiences and provide enterprise-grade services across North America. 

Liquidity and Balance Sheet 

As of September 30, 2025, TEN Holdings held total cash and cash equivalents of 310,000 USD, up from 48,000 USD at December 31, 2024. Net cash used in investing activities for the nine months ended September 30, 2025 was 828,000 USD, primarily for capitalized internal-use software. 

TEN Holdings continues to pursue strategic partnerships and collaborations to strengthen recurring revenue, expand its SaaS offerings, and support operational efficiency.