LANGHORNE, PA — TEN Holdings Inc. (Nasdaq: XHLD) reported a decline in revenue and a wider net loss for fiscal year 2025 as the company incurred higher expenses tied to its first year as a public company, the company announced.
Total revenue for 2025 was $3.1 million, down 11.4% from $3.5 million in 2024, primarily due to a decline in virtual and hybrid events that did not repeat from the prior year, according to the company.
Physical events revenue increased by $0.1 million, partially offsetting the decline, as more deals were completed during the year.
The company reported a net loss of approximately $19.5 million, or $(8.58) per share, compared with a net loss of about $3.0 million, or $(1.78) per share, in 2024.
Selling, general and administrative expenses rose to approximately $15.3 million, including about $10.0 million in non-cash expenses related to stock-based compensation, debt restructuring and impairments, as well as $1.7 million in costs associated with operating as a public company.
Cost of revenue increased slightly to about $663,000, while gross profit margin declined to 78.6% from 81.4% a year earlier.
Interest expense rose 35% to approximately $284,000, primarily due to interest owed on shareholder loans.
As of December 31, 2025, the company reported total cash of about $1.63 million, up from $48,479 at the end of 2024.
Net cash used in operating activities increased to approximately $10.3 million, driven by higher operating expenses and the larger net loss, the company said.
Net cash used in investing activities totaled $847,000, compared with $1.04 million in 2024, largely related to investments in equipment and software.
Net cash provided by financing activities rose to approximately $18.2 million, up from $3.2 million in the prior year, primarily from proceeds related to share issuances and short-term loans.
The company said it expanded its customer base during the year, increasing new customers from six to 16, and entered partnerships with Webinar.net and V-Cube to enhance its event platform and enterprise communication capabilities.
“These initiatives position TEN Holdings to deliver long-term value for shareholders,” said Chief Executive Officer Randolph Wilson Jones III.
TEN Holdings said it plans to focus on expanding its software platform, increasing marketing efforts and pursuing additional partnerships and capital raises to support future growth.
The company, through its subsidiary Ten Events Inc., provides event planning, production and broadcasting services, including virtual, hybrid and in-person events.
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