LANGHORNE, PA — TEN Holdings, Inc. (Nasdaq: XHLD) reported a narrower quarterly loss and double-digit revenue growth as the event-production company pushed deeper into higher-margin corporate broadcasting and hybrid-event services following its 2025 public listing.
First-quarter revenue rose 15.4% to $853,000 from a year earlier, while the company’s net loss narrowed 37.6% to $3.0 million, according to results released by the company. The improvement came largely from lower administrative costs and increased spending from a major client.
The results offer an early test of whether TEN Holdings can convert investments tied to its IPO, enterprise-event infrastructure, and software partnerships into sustained growth while operating with limited cash reserves.
The company ended March with approximately $79,000 in cash, down sharply from $1.6 million a year earlier, while continuing to post operating losses and negative operating cash flow.
Chief Executive Virgilio Torres attributed the revenue gains to investments made during 2025 in operational systems, platform capabilities, and strategic partnerships.
“We are pleased with the 15% top line revenue growth the Company reported for the first three months of 2026,” Torres said. “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.”
Virtual and hybrid-event revenue increased about 11%, while physical-event revenue rose 139%, driven by higher-end in-person productions during the quarter.
Gross profit margin declined to 64.0% from 74.8% a year earlier as labor-intensive customer events increased production costs. Cost of revenue climbed 65.1% to $307,000.
Selling, general and administrative expenses fell 34.6% to $3.4 million, which the company attributed primarily to lower headcount costs.
TEN Holdings reported a loss of $0.76 per share, compared with a loss of $2.68 per share in the same quarter last year. Interest expense increased 11.6% to $61,000 due to outstanding loans.
The company also disclosed that it completed a SOC 2 examination tied to broadcast media production and distribution systems, a certification commonly used by enterprise and regulated clients to evaluate operational security controls.
Torres said the certification could support expansion into corporate communications, investor events, and regulated broadcast services.
“Throughout the balance of 2026, we will focus on leveraging last year’s partnership with Webinar.net to strengthen our technology ecosystem,” Torres said. “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.”
The company plans additional investment in digital marketing, software-as-a-service offerings, and sales expansion while continuing to pursue capital raises and potential acquisitions.
TEN Holdings also said it intends to expand its Ten Events Pro platform, which provides production tools for virtual and hybrid events, as it seeks more recurring subscription-based revenue streams.
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