LANGHORNE, Pa., May 15, 2026 /PRNewswire/ -- TEN Holdings, Inc. (Nasdaq: XHLD) through its subsidiary, Ten Events, Inc., ("Ten Events" or the "Company"), a provider of event planning, production, and broadcasting services, today announced its financial results for the quarter ended March 31, 2026.
Management Commentary
"We are pleased with the 15% top line revenue growth the Company reported for the first three months of 2026," said Virgilio Torres, Chief Executive Officer of TEN Holdings. "This increase demonstrates that the investments we made in the business last year to create a stronger foundation for successful operations, platforms, and strategic acquisitions started to produce positive sales growth results.
"Our 37.6% reduction of our quarterly net loss is a direct result of these improved operations, which allowed us to slash SG&A expenses by nearly a third over first quarter of 2025.
"During the first quarter of 2026, we also completed a key SOC 2 examination for Broadcast Media Production and Distribution Services Systems. This achievement will help support our provision of high-stakes corporate events including town halls, investor days, executive communications, and regulated broadcasts, where reliability, security, and operational discipline are essential.
"Throughout the balance of 2026, we will focus on leveraging last year's partnership with Webinar.net to strengthen our technology ecosystem. This relationship reflects the major cornerstone of our business plan to use best-in-class technologies to deliver scalable, enterprise-grade solutions for our customers.
"We are confident that the initiatives we completed in the last fiscal year, including strengthening strategic partnerships, advancing platform capabilities, enhancing enterprise security, expanding the customer base, and establishing a presence in the public capital markets, have positioned our business to pursue growth opportunities, increase market penetration, and, most importantly, continue to achieve the operational improvements that will drive long-term value for our shareholders."
Financial Results
The Company's first quarter of 2026 earnings reported a total revenue increase of $114,000, or 15.4%, to $853,000. This increase was primarily driven by one of the Company's major customers increasing their revenue contribution by 100%.
a.) Virtual & Hybrid events increased by $0.1 million, or 11% due to one of our major customers increasing their revenue by over 10% year over year.
b.) Physical events increased by $0.04 million or 139% due to providing higher premium physical events in the quarter, resulting in higher revenue growth from the same period last year.
- Cost of revenue in the quarter increased by $121,000, or 65.1%, to $307,000, driven by one major customer event that took place in first quarter of 2026 that did not take place during the same period last year.
- Gross profit margin declined to 64.0% from 74.8% due to higher costs from one specific event that took place from one of our customers which had a high labor intensive component.
- Selling, general and administrative expenses decreased by $1.8 million, or 34.6%, to $3.4 million, due to lower headcount cost during the same period last year.
- Net loss was $3.0 million, or $(0.76) per share, a 37.6% reduction compared to a net loss of $4.8 million, or $(2.68) per share, during the three months ended March 31, 2025. This improvement was driven primarily by the Company's significant reduction in selling, general and administrative expenses.
- Interest expenses increased by $8,000, or 11.6%, to $61,000 primarily due to continued interest accumulation on the loans taken by the Company.
- Weighted average number of common shares outstanding was 3,977,443 for the three months ended March 31, 2026 compared to 1,805,086 for the three months ended March 31, 2025.
Selected Balance Sheet and Cash Flow Results
- As of March 31, 2026, the Company had total cash of approximately $79,000 compared to $1.6 million at the same date in 2025.
- Net cash used in operating activities decreased to $1.1 million in the first three months of 2026 compared to $6.8 million during the same period of 2025. The reason for the reduction is primarily due to the IPO expenses that took place during the same period last year.
- Net cash from investing activities was zero compared to $273,000 during the same period of 2025, due to the acquisition of computer hardware, equipment and capitalized software.
- Net cash used for financing activity was $450,000 compared to net cash generated by financing activities of $7.3 million in the first quarter of 2025. The financing activities that took place during the same period last year were related to the IPO proceeds.
Company Outlook
Mr. Torres added that TEN Holdings plans to:
- Promote future business growth by strengthening customer relationships, improving customer loyalty, and increasing marketing and sales efforts with additional investment in digital marketing and sales team expansion.
- Increase product and market expansion of the software-as-a-service, Ten Events Pro, designed to provide professional-grade production quality for virtual and hybrid events with flexibility, speed, and control. Management anticipates that this strategic expansion will broaden the customer base, enhance market reach, and generate sustainable recurring revenue streams.
- Maximize partnership with Webinar.net to penetrate new market opportunities.
- Continue to raise capital to facilitate investments in, partnerships with, and acquisitions of appropriate businesses that offer complementary and strategic advantages to enhance overall competitiveness and growth.
About TEN Holdings, Inc.
The Company, through its subsidiary, Ten Events, Inc., is a provider of event technology, 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 Xyvid Pro and Ten Pro Platforms. 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 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 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: IR@skylineccg.com
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SOURCE TEN Holdings, Inc.
