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Yahoo
20-05-2025
- Business
- Yahoo
TEN Holdings Inc. Reports First Quarter 2025 Financial Results
LANGHORNE, Pa., May 20, 2025 /PRNewswire/ -- TEN Holdings, Inc. (Nasdaq: XHLD) ("TEN Holdings" or the "Company"), a provider of event planning, production, and broadcasting services, today announced its first quarter 2025 financial results for the period ending March 31, 2025. Management Commentary "During the first quarter of 2025, the Company continued to execute its business strategies and lay the groundwork for future growth. Due to the progress we've achieved in building our business infrastructure, we now expect to be in a better position to achieve key objectives such as strengthening our customer relationships, increasing our investment in digital marketing, and expanding our sales team. We believe we are also better equipped to perform the R&D that will enable us to introduce additional interactive and data analytics features to our proprietary Xyvid Pro Platform, to further develop and integrate our PaaS model and increase recurring revenue, and to add conversational artificial intelligence to upgrade our offerings. In addition, we believe we are better positioned to possibly invest in, partner with, and acquire appropriate businesses that offer complementary and strategic advantages to enhance our overall competitiveness and growth. These steps, we believe, will provide us with the competitive advantages, margin expansion, customer growth, diversification, and predictable cash flow generation that we anticipate will drive revenue growth and bottom-line improvements going forward." commented TEN Holdings' Chief Executive Officer, Randy Jones. Financial Results The Company reported total revenue of $739,000 for the first quarter of 2025, a decrease of $389,000, or 34.5%, from revenue of $1,128,000 in the first quarter of 2024. The decrease in revenue was due to the following factors:a.) Revenues from Delivered events – Virtual and Hybrid events business segment decreased by $368,000, mainly due to an event series with the Company's largest customer that took place in the first quarter of 2024 and repeats every other year.b.) Revenue from Delivered events – Physical events business segment decreased by $21,000, mainly due to two customer events from the first quarter of 2024 that did not repeat in the first quarter of 2025. Cost of revenue in the first quarter of 2025 decreased by $97,000, or 34.3%, over the same period last year, to $186,000, reflecting the lower direct costs associated with the lower corresponding revenue. Gross profit margin for the first quarter of 2025 was nearly unchanged at 74.8% compared to 74.9% in first quarter of 2024. Selling, general and administrative expenses increased by $3,960,000, or 328.4%, to $5,166,000, mainly due to the recognition of stock compensation expense of $3,512,000 in connection with the vesting of employee stock options from the IPO, marketing expenses from brand and performance-related expenditure, and increased payroll expenses. Interest expense was $69,000 in the first quarter of 2025 compared to $26,000 in the first quarter of 2024. Net loss for the first quarter of 2025 was $4,836,000, or $(.18) per share, compared to a net loss of $405,000, or $(.02) per share, in the first quarter of 2024. The increase in net loss was due primarily to the rise in SG&A expenses in the first quarter of 2025 compared to the first quarter of 2024. Non-GAAP loss for the first quarter of 2025, which excludes stock-based compensation expense, was $1,324,000, or ($.05) per share, compared to a non-GAAP loss of $405,000, or ($.02) per share, in the first quarter of the previous year. Weighted average number of common shares outstanding was 27,058,113 for the first quarter of 2025 and 25,000,000 for the first quarter of 2024. Selected Balance Sheet and Cash Flow Results As of March 31, 2025, the Company had total cash and cash equivalents of $247,000 compared to $48,000 on December 31, 2024. Net cash used in operating activities increased from $581,000 in the first quarter of 2024 to $6,785,000 in the first quarter of 2025. Net cash used in investing activities, comprised mostly of the purchase of capitalized internal-use software, was $273,000 in the first quarter of 2025 compared to $269,000 in the same quarter a year ago. Company Outlook The Company expects to continue the implementation of a go-to-market strategy with investments in a new sales executive, realignment of its sales force, and digital advertising campaigns to drive engagement. The Company plans to focus on recurring revenue streams through the further development of the platform-as-a-service (PaaS) model. The Company aims to enhance the proprietary Xyvid Pro Platform by continuously introducing interactive features to boost attendee engagement, integrating advanced data analytics, and improving the platform's scalability and flexibility. The Company plans to identify, invest in, partner with, and acquire appropriate businesses that offer complementary and strategic advantages to enhance overall competitiveness and growth. About TEN Holdings, Inc. The Company is a provider of event 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 proprietary Xyvid Pro Platform. Physical events mainly involve live streaming and video recording of physical events. To learn more, visit FORWARD-LOOKING STATEMENTS Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, 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: the uncertainties related to market conditions and other factors discussed in the "Risk Factors" section of the Company's registration statement filed with the U.S. Securities and Exchange Commission (the "SEC") and its other SEC filings. 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. View original content to download multimedia: SOURCE TEN Holdings, Inc.
Associated Press
08-05-2025
- Business
- Associated Press
TEN Holdings Recognized as a "High Performer" and "Easy to Do Business With" in G2's Spring 2025 Reports
LANGHORNE, Pa., May 8, 2025 /PRNewswire/ -- TEN Holdings, Inc. (NASDAQ: XHLD) ('TEN Holdings' or the 'Company'), a provider of event planning, production, and broadcasting services, today proudly announced the Company's recognition in G2's Spring 2025 Reports, earning two distinguished badges: 'High Performer' and 'Easy to Do Business With'. These accolades, driven by real customer feedback, underscore the Company's momentum, customer-first mindset, and operational excellence across its portfolio of brands and proprietary webcasting platform, Xyvid Pro. Known as the world's largest and most trusted software marketplace, G2 awards these badges based on verified user reviews, customer satisfaction scores, and overall market presence. The 'High Performer' badge reflects exceptional customer satisfaction and strong business performance, while the 'Easy to Do Business With' badge highlights Ten Holdings' commitment to delivering seamless client experiences—an increasingly vital differentiator in the enterprise event production space. 'This recognition is more than a badge—it's a reflection of the trust and confidence our global clients place in our team, our technology, and our client-first approach,' said Randy Jones, Chief Executive Officer of TEN Holdings. 'As we continue to expand our offerings and global footprint, these client-driven awards reinforce our strategy and validate the long-term value we strive to deliver.' G2's recognition further energizes Ten Holdings' vision, as the Company continues advancing its key growth initiatives—enhancing its proprietary Xyvid Pro platform, developing a new self-service PaaS solution, and executing a strategic M&A roadmap. These efforts are designed to meet the evolving needs of TEN Holdings' enterprise clients while driving innovation and scalability across the event production landscape. As demand for hybrid and virtual experiences continues to grow, Ten Holdings remains uniquely positioned as a trusted, high-impact partner for enterprise organizations seeking to elevate their communications with advanced technology and white-glove solutions. About TEN Holdings, Inc. The Company is a provider of event 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 proprietary Xyvid Pro Platform. Physical events mainly involve live streaming and video recording of physical events. To learn more, visit FORWARD-LOOKING STATEMENTS Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, 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: the uncertainties related to market conditions and other factors discussed in the 'Risk Factors' section of the Company's registration statement filed with the U.S. Securities and Exchange Commission (the 'SEC') and other SEC filings. 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. View original content to download multimedia: SOURCE TEN Holdings, Inc.
Associated Press
17-04-2025
- Business
- Associated Press
TEN Holdings' Subsidiary Delivers Scalable Solutions with Zero Downtime for a Big 4 Consulting Firm's Global Broadcasts
LANGHORNE, Pa., April 17, 2025 /PRNewswire/ -- TEN Holdings, Inc. (NASDAQ: XHLD) ('TEN Holdings' or the 'Company'), a provider of event planning, production, and broadcasting services, is proud to serve as the trusted technical webcast partner for a leading accounting and consulting firm (the 'firm'). Supporting events with audiences of nearly 40,000 live concurrent streams, Ten Events, Inc. ('Ten Events') a subsidiary of TEN Holdings, delivers a fully integrated solution that is designed for seamless execution and high-impact delivery—especially for the firm's flagship CEO-led Town Halls. Ten Events has helped the firm scale its webcast programs, offered to over 85,000 employees across 3 countries, while maintaining production quality and consistency across every broadcast. Customized Solutions to Meet Evolving Needs As the firm expanded its portfolio of webcast series and high-stakes events, Ten Events delivered reliable, scalable support, including: 'Our partnership with this firm is one we deeply value. We are committed to continuing to provide the highest level of technical expertise and support to ensure their webcasts are successful. It's been a privilege to grow with them and help them achieve their goals,' said Randy Jones, Chief Executive Officer of TEN Holdings. Proven Results Through this collaboration, the firm has achieved: As Ten Events continues to deliver enterprise-grade webcast solutions for some of the world's most trusted brands, this collaboration reinforces the company's role as a critical partner for high-impact communications. The ongoing success of this relationship reflects Ten Events' ability to scale, adapt, and innovate, which we believe are core pillars of the company's long-term growth strategy and value creation for stakeholders. About TEN Holdings, Inc. The Company is a provider of event 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 proprietary Xyvid Pro Platform. Physical events mainly involve live streaming and video recording of physical events. To learn more, visit FORWARD-LOOKING STATEMENTS Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, 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: the uncertainties related to market conditions and other factors discussed in the 'Risk Factors' section of the Company's registration statement filed with the U.S. Securities and Exchange Commission (the 'SEC') and other SEC filings. 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 Contact: Erica Scudilla Email: [email protected] 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: [email protected] View original content to download multimedia: SOURCE TEN Holdings, Inc.
Yahoo
28-03-2025
- Business
- Yahoo
TEN Holdings, Inc. Reports Full Year 2024 Financial Results
LANGHORNE, Pa., March 28, 2025 /PRNewswire/ -- TEN Holdings, Inc. (Nasdaq: XHLD) ("TEN Holdings" or the "Company"), a provider of event planning, production, and broadcasting services, today announced its full year 2024 financial results. "Fiscal year 2024 was a building year for our business, as we worked to develop a pipeline of new strategies and markets that we can grow over the next few years. During the year, we invested in research and development and capital expenditures to prepare to execute on our growth initiatives. By working towards strengthening and enhancing our customer relations, expanding the scope of the Xyvid Pro Platform, and the integration of a new platform-as-a-service (PaaS) model, I am confident that we will build a solid foundation that is necessary to capitalize on our competitive strengths to provide revenue and margin performance to drive value for our shareholders," commented TEN Holdings Chief Executive Officer, Randolph Wilson Jones III. Business Highlights The Company initiated preparations for its initial public offering ("IPO") in 2024, successfully completing the IPO on February 18, 2025, with the Company's securities now trading on the Nasdaq Stock Market under ticker symbol "XHLD." For the year ended December 31, 2024, nine of our top ten customers, in terms of our revenue, were repeat customers. The Company reengineered it's go-to-market strategy with the addition of a new sales executive, realignment of its sales force, and by enhancing demand generation initiatives through industry conferences and digital advertising campaigns to drive engagement. The Company began the development of its new platform-as-a-service (PaaS) model to drive recurring revenue streams. Earnings Results The Company reported fiscal year 2024 total revenues of $3.5 million, down 5.8% from $3.7 million in fiscal year 2023. The decrease was due to the following factors: a.) Revenues from the delivered events – Virtual and Hybrid business segment decreased by approximately $306,000, mainly due to a 2023 event that did not repeat in 2024. b.) Revenue from the delivered events – Physical business segment increased by approximately $91,000, mainly due to a corporate restructuring which resulted in the addition of a full year of activity during the year ended December 31, 2024. c.) During the year ended December 31, 2023, the Company only reported revenue from "delivered events – physical" in June through December of 2023. Cost of revenue in fiscal year 2024 increased by approximately $97,000, or 17.5%, over the same period last year, to approximately $652,000, due to higher outsourced labor costs associated with physical events and a singular hybrid event that required significant third-party production and labor costs. Gross profit margin for fiscal year 2024 declined by 3.7% to 81.4% from 85.1% in fiscal year 2023, due to a decrease in revenues and higher labor expenses. Selling, general and administrative expenses increased by approximately $648,000, or 13.7%, to approximately $5.39 million in fiscal year 2024 compared to $4.74 million in fiscal year 2023, mainly due to accounting and professional service expenses, computer and software related expenses, and increased payroll expenses due to the addition of key members of the management team. Research and development expenses were $128,891 in fiscal year 2024 compared to $105,885 in fiscal year 2023. Interest expense was $210,000 in fiscal year 2024 compared to $52,000 in fiscal year 2023. Net loss for fiscal 2024 increased to $2.97 million compared to $1.69 million in fiscal year 2023, due to lower revenues and higher expenses. Net loss per share attributable to shareholders for fiscal year 2024 was ($0.12) compared to ($0.07) in fiscal year 2023. Selected Balance Sheet and Cash Flow Results As of December 31, 2024, the Company had total cash of approximately $48,000 compared to $357,000 in fiscal year 2023. Net cash used in operating activities increased from approximately $266,000 in fiscal year 2023 to approximately $2.48 million in fiscal year 2024. The increase in cash outflow was primarily due to the higher loss in fiscal 2024. Capital expenditures for fiscal year 2024 was $1.04 million compared to $1.07 million in fiscal year 2023, due to the acquisition of computer hardware, equipment and capitalized software. Company Outlook 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. The Company plans to continuously enhance the proprietary Xyvid Pro Platform by introducing new interactive features to boost attendee engagement, integrating advanced data analytics tools for real-time insights and comprehensive event reporting, and improving the platform's scalability and flexibility. TEN Holdings is planning to launch a new platform-as-a-service (PaaS) model, empowering customers to independently utilize the Company's advanced technology through a recurring revenue model. Management anticipates that this strategic expansion will broaden the customer base, enhance market reach, and generate sustainable recurring revenue streams. The Company plans to identify, invest in, partner with, and acquire appropriate businesses that offer complementary and strategic advantages to enhance overall competitiveness and growth. About TEN Holdings, Company is a provider of event 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 proprietary Xyvid Pro Platform. Physical events mainly involve live streaming and video recording of physical events. To learn more, visit FORWARD-LOOKING STATEMENTS Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, 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: the uncertainties related to market conditions and other factors discussed in the "Risk Factors" section of the Company's registration statement filed with the U.S. Securities and Exchange Commission (the "SEC") and other SEC filings. 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. View original content to download multimedia: SOURCE TEN Holdings, Inc. Sign in to access your portfolio
Yahoo
24-03-2025
- Business
- Yahoo
TEN Holdings, Inc. to Add Conversational AI Solutions to Service Portfolio
LANGHORNE, Pa., March 24, 2025 /PRNewswire/ -- TEN Holdings, Inc. (NASDAQ: XHLD) ("TEN Holdings" or the "Company"), a provider of event planning, production, and broadcasting services, today announced the Company's ability to add conversational artificial intelligence ("AI") solutions to its service offering through a new partnership announced by V-Cube Inc., its controlling shareholder. This new service offering reinforces the Company's mission to enhance corporate virtual events for our clients. By offering conversational AI solutions, the Company expects to enable event companies to scale operations efficiently while achieving significant cost savings through the power of AI automation. Additionally, the Company believes that conversational AI will provide valuable insights into attendee behavior and preferences, allowing for more personalized and engaging experiences. "At TEN Holdings, Inc., we are committed to delivering the most advanced and effective solutions for our clients. By now offering conversational AI solutions, we believe we can elevate the virtual event experience while empowering event companies to scale more effectively and make data-driven decisions," said Randy Jones, Chief Executive Officer of TEN Holdings, Inc. Enterprises interested in utilizing conversational AI for virtual enterprise events may contact the Company at its contact information below. About TEN Holdings, Inc. The Company is a provider of event 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 proprietary Xyvid Pro Platform. Physical events mainly involve live streaming and video recording of physical events. To learn more, visit About V-Cube, Inc. V-cube's mission is to "provide even opportunity to everybody". By creating an environment where people can communicate "anytime" and "anywhere", V-Cube, Inc. is working to eliminate the diverse inequalities that arise from time-and distance-constraints, through visual communication, to resolve social issues such as a declining birthrate, an aging society, long working hours, education and medical disparities, and realize a society in which all people can equally earn opportunities. All information about V-Cube, Inc. has been reviewed and approved by V-Cube, Inc. FORWARD-LOOKING STATEMENTS Certain statements contained in this press release about future expectations, plans and prospects, as well as any other statements regarding matters that are not historical facts, 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: the uncertainties related to market conditions and other factors discussed in the "Risk Factors" section of the Company's registration statement filed with the U.S. Securities and Exchange Commission (the "SEC") and other SEC filings. 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. View original content to download multimedia: SOURCE TEN Holdings, Inc. Sign in to access your portfolio
