TEN Holdings Q1 Revenue Rises 15.4% While Net Loss Shrinks 37.6%
XHLD•TEN Holdings reported Q1 revenue of $853,000, up 15.4% year-over-year, driven by a major customer boosting virtual and physical event contributions by 100% and 139%, respectively. Net loss narrowed 37.6% to $3.0 million thanks to a 34.6% reduction in SG&A expenses, though gross margin fell to 64.0%.
1. Q1 Financial Highlights
TEN Holdings posted $853,000 in revenue for Q1 2026, a 15.4% year-over-year increase driven by major customer contributions to virtual and hybrid events. Net loss narrowed 37.6% to $3.0 million ($0.76 per share) despite a gross margin decline to 64.0%.
2. Operating Improvements and SG&A Reduction
The company cut SG&A expenses by 34.6% to $3.4 million, primarily through lower headcount costs. This reduction was a key factor in reducing the quarterly net loss and improving operational efficiency.
3. SOC 2 Certification and Strategic Partnerships
Completion of a SOC 2 examination for broadcast media systems supports high-stakes corporate events requiring security and reliability. Ongoing partnership with Webinar.net aims to enhance the technology ecosystem for scalable, enterprise-grade virtual and hybrid events.
4. Balance Sheet and Outlook
Cash reserves stood at $79,000 as of March 31, down from $1.6 million a year earlier, while net cash used in operations fell to $1.1 million from $6.8 million. Management plans to expand SaaS offerings, strengthen customer relationships, and pursue additional capital raises and strategic acquisitions.
