On March 18, 2026, TEN Holdings, Inc. (Nasdaq: XHLD) released its financial results for the fiscal year ending December 31, 2025. The company reported total revenues of $3.1 million, a decrease of 11.4% from $3.5 million in the previous fiscal year. This decline was attributed primarily to a reduction in virtual and hybrid events, which saw a drop of $0.5 million due to the absence of a significant event series that occurred in the prior year. However, physical events revenue increased by $0.1 million, reflecting a higher number of deals closed and delivered during the period compared to the same time last year.

The company's cost of revenue remained relatively stable, increasing by only $11,000, or 1.7%, to approximately $663,000. Despite the revenue decline, TEN Holdings managed to maintain a gross profit margin of 78.6%, although this was down from 81.4% in the previous year. Selling, general, and administrative expenses surged by approximately $9.9 million, or 183%, totaling around $15.3 million, largely due to non-cash expenses related to stock-based compensation and costs associated with being a public company.

TEN Holdings reported a net loss of approximately $19.5 million, or $(8.58) per share, compared to a net loss of $2.97 million, or $(1.78) per share, in 2024. The weighted average number of common shares outstanding increased to 2,272,982 from 1,667,674 in the previous year.

Management emphasized that fiscal 2025 marked the company's first year as a public entity, focusing on establishing operational and governance foundations for scalable growth. They highlighted strategic partnerships with Webinar.net and V-Cube, which are expected to enhance operational efficiency and expand market reach. Looking ahead, TEN Holdings aims to strengthen customer relationships and increase marketing efforts to drive future growth.

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