LANGHORNE, Pa., June 2, 2025 /PRNewswire/ -- TEN Holdings, Inc. (NASDAQ: XHLD) ("TEN Holdings" or the "Company"), a provider of event planning, production, and broadcasting services through its subsidiary, Ten Events, Inc., a Pennsyvania corporation ("Ten Events"), today announced the launch of an Early Adopter Program for its software-as-a-service ("SaaS") product, Ten Events Pro ("Ten Pro"). This strategic initiative marks a pivotal evolution in the Company's offering portfolio and is anticipated to provi ...

LANGHORNE, Pa., May 29, 2025 /PRNewswire/ -- TEN Holdings, Inc. (NASDAQ: XHLD) ("TEN Holdings" or the "Company"), a provider of event planning, production, and broadcasting services, today announced its participation in several investor-focused conferences and webinars throughout June 2025. These events are intended to enhance the Company's visibility among the investment community and provide an opportunity for management to share the Company's recent developments and future growth initiatives.Upcoming Eve ...

Financial Results - TEN Holdings, Inc. reported financial results for Q1 2025 on May 20, 2025[4] - The press release detailing the financial results is included as Exhibit 99.1[5] Company Classification - The company is classified as an emerging growth company[3]

Financial Performance - For the three months ended March 31, 2025, the company reported revenue of $739,000, a decrease of 34.4% compared to $1,128,000 in the same period of 2024[11]. - The company's net loss for the three months ended March 31, 2025, was $4,836,000, compared to a net loss of $405,000 for the same period in 2024, representing an increase in loss of 1,092.6%[11]. - Total revenue for the three months ended March 31, 2025, was approximately $739 thousand, a decrease of 34.4% compared to $1,128 thousand for the same period in 2024[114]. - The net loss for the three months ended March 31, 2025, was approximately $4.840 million, compared to a net loss of $0.405 million in the same period in 2024, representing an increase in loss of over 1,100%[202]. - Adjusted EBITDA for the three months ended March 31, 2025, was $(1,170) thousand, compared to $(387) thousand in 2024[131]. Assets and Liabilities - Total current assets increased to $2,888,000 as of March 31, 2025, from $1,787,000 as of December 31, 2024, reflecting a growth of 61.8%[9]. - The company's total assets reached $10,794,000 as of March 31, 2025, compared to $6,424,000 as of December 31, 2024, indicating a 68.5% increase[9]. - Stockholders' equity improved to $4,918,000 as of March 31, 2025, from a deficit of $1,600,000 as of December 31, 2024[9]. - The company had a working capital deficit of $2,506,000 as of March 31, 2025, raising concerns about its ability to continue as a going concern[26]. - As of March 31, 2025, total short-term loans amounted to $4,002,000, a decrease from $5,617,000 as of December 31, 2024[84]. Operating Expenses - The company incurred operating expenses of $5,315,000 for the three months ended March 31, 2025, significantly higher than $1,219,000 for the same period in 2024, marking a 336.5% increase[11]. - SG&A expenses increased by $3,960 thousand, or 328.4%, to $5,166 thousand, largely due to stock compensation expenses of $3,513 thousand related to employee stock options[124]. - The company anticipates overall operating expenses to continue increasing due to business expansion and being a newly public company, which may exceed current expectations[202]. Cash Flow - Cash and cash equivalents at the end of the period were $247,000, up from $48,000 at the beginning of the period, representing a 414.6% increase[15]. - The company reported a net cash used in operating activities of $6,785,000 for the three months ended March 31, 2025, compared to $581,000 for the same period in 2024[16]. - Net cash provided by financing activities increased to $7,257 thousand for the three months ended March 31, 2025, compared to $917 thousand in 2024, primarily due to proceeds from the issuance of shares[137]. Revenue Sources - Revenue from virtual and hybrid events accounted for approximately 96.5% of total revenue in Q1 2025, generating about $713 thousand, down from $1,081 thousand in Q1 2024[114]. - The Company operates as one segment with revenue types including Hybrid, Virtual, and Physical events, indicating a diversified revenue stream[39]. - The Company recognized revenue of $147 million and $275 million from deferred revenue during the three months ended March 31, 2025 and 2024, respectively[62]. Customer and Supplier Concentration - For the three months ended March 31, 2025, two customers accounted for approximately 54% and 18% of total revenue, respectively, compared to 66% and 16% for the same period in 2024[181]. - The company relies on a limited number of suppliers, with three suppliers accounting for approximately 22%, 11%, and 11% of total purchases for the three months ended March 31, 2025[183]. Future Plans and Risks - The company plans to consider obtaining additional financing through equity or debt financing to support its operations and growth[27]. - The company plans to incorporate AI technologies into its products, with initial enhancements expected in the second quarter of 2025[172]. - The company may pursue acquisitions, investments, and strategic partnerships to enhance competitiveness, but these actions could divert management's attention and increase operational risks[199]. - Economic downturns and geopolitical conditions may reduce customer demand, adversely affecting revenue and cash flows[203]. - The company faces risks related to compliance with evolving laws and regulations concerning privacy and data protection, which could result in significant fines and liability[206]. Legal and Compliance - The company has no material legal proceedings currently but anticipates potential future claims arising in the ordinary course of business[160]. - The company does not carry key person insurance for senior management, which could pose risks if key personnel leave[196]. Technology and Operations - The company utilizes AI for multi-language captioning and transcription features on its Xyvid Pro Platform[172]. - The company plans to improve platform features and incorporate emerging technologies to enhance service offerings, which may increase operational complexity[194]. - The company has not experienced significant interruptions in services due to errors or defects, but future interruptions may occur if errors are not detected and corrected[174].

Core Insights - TEN Holdings, Inc. has been recognized in G2's Spring 2025 Reports, earning the "High Performer" and "Easy to Do Business With" badges, reflecting strong customer satisfaction and operational excellence [1][2][3] Company Overview - TEN Holdings is a provider of event planning, production, and broadcasting services, primarily focusing on virtual, hybrid, and physical events, supported by its proprietary Xyvid Pro platform [5] Recognition and Impact - The "High Performer" badge indicates exceptional customer satisfaction and strong business performance, while the "Easy to Do Business With" badge emphasizes the company's commitment to seamless client experiences, which is crucial in the enterprise event production sector [2] - The recognition from G2 reinforces the trust and confidence clients have in TEN Holdings, validating the company's strategy and long-term value [3] Strategic Initiatives - TEN Holdings is advancing key growth initiatives, including enhancing the Xyvid Pro platform, developing a new self-service PaaS solution, and executing a strategic M&A roadmap to meet the evolving needs of enterprise clients [3] - The company is well-positioned to capitalize on the growing demand for hybrid and virtual experiences, serving as a trusted partner for enterprise organizations [4]

Revenue Performance - Total revenue decreased by approximately $215 thousand, or 5.8%, to approximately $3,504 thousand, primarily due to a decline in revenue from virtual and hybrid events [210]. - Revenue from delivered events – Virtual and Hybrid decreased by approximately $306 thousand, mainly due to a 2023 event that did not repeat in 2024 [211]. - Revenue from delivered events – Physical increased by approximately $91 thousand, attributed to a corporate restructuring that resulted in a full year of activity in 2024 [211]. - The company recognizes revenue from hybrid, virtual, and physical events upon completion of the event, reflecting the consideration expected to be received [230]. - The company applies ASC Topic 606 for revenue recognition, following a five-step model to determine the appropriate amount of revenue [227]. Expenses and Losses - Cost of revenue increased by approximately $97 thousand, or 17.5%, to approximately $652 thousand, driven by higher outsourced labor costs associated with physical events [210]. - Selling, General and Administrative (SG&A) expenses increased by approximately $648 thousand, or 13.7%, to approximately $5,390 thousand, mainly due to increased payroll expenses and professional service costs [212]. - Net loss was approximately $2,968 thousand for the year ended December 31, 2024, compared to a net loss of approximately $1,688 thousand for the year ended December 31, 2023, representing a 75.8% increase in loss [214]. - Net loss increased from $1,688 thousand in 2023 to $2,968 thousand in 2024, representing a 76% increase [216]. Cash Flow and Liquidity - Cash as of December 31, 2024, was approximately $48 thousand, down from $357 thousand in 2023, indicating liquidity challenges [215]. - Net cash used in operating activities rose significantly from approximately $265 thousand in 2023 to approximately $2,485 thousand in 2024, indicating a substantial increase in cash outflow [218]. - Net cash used in investing activities decreased slightly from approximately $1,075 thousand in 2023 to approximately $1,037 thousand in 2024, primarily due to reduced capitalized software costs [219]. - Net cash provided by financing activities increased from approximately $1,690 thousand in 2023 to approximately $3,213 thousand in 2024, driven by higher short-term loans [220]. - Cash and cash equivalents at the end of the period decreased from $357 thousand in 2023 to $48 thousand in 2024 [216]. Customer Concentration and Market Strategy - The company had a single customer that represented approximately 64.6% of revenue for the year ended December 31, 2024, highlighting customer concentration risk [198]. - The company plans to expand its sales and marketing capabilities to increase its customer base and achieve broader market acceptance [193]. Competitive Landscape - The competitive landscape includes major players like Zoom and ON24, which may leverage their resources to adapt to market trends and innovations [199]. Obligations and Capital Expenditures - Total contractual obligations as of December 31, 2024, amounted to approximately $6,305 thousand [221]. - Capital expenditures for the fiscal years ended December 31, 2024, and 2023 were $1,037 thousand and $1,075 thousand, respectively [223]. - The company had no off-balance sheet arrangements as of December 31, 2024 [224].