Core Viewpoint - TEN Holdings, Inc. will implement a 1-for-15 reverse stock split, effective December 1, 2025, with trading on a split-adjusted basis starting December 2, 2025 [1][2][3]. Group 1: Reverse Stock Split Details - The reverse stock split will reduce the number of outstanding shares from approximately 44.8 million to about 3.0 million [3]. - The effective time for the reverse stock split is set for 4:30 p.m. Eastern Time on December 1, 2025 [2]. - No fractional shares will be issued; instead, holders will receive cash payments for any fractional shares [3][4]. Group 2: Company Information - TEN Holdings operates through its subsidiary, Ten Events, Inc., providing event planning, production, and broadcasting services [6]. - The company specializes in virtual, hybrid, and physical events, utilizing its proprietary Xyvid Pro Platform for service delivery [6].

Core Insights - TEN Holdings, Inc. reported modest year-over-year revenue growth for Q3 2025, indicating stability in its core business and potential for future growth [1][4] - The company launched an Early Adopter Program for its SaaS product, Ten Events Pro, and formed a technical partnership with Webinar.net to enhance its offerings and operational efficiency [2][3] - A new Chief Financial Officer, Virgilio D. Torres, was appointed to strengthen financial controls and relationships with banking and investment communities [3] Financial Performance - Revenue for Q3 2025 was $543,000, a 1.5% increase from $535,000 in Q3 2024, driven by a 102.2% increase in physical event revenue, which rose by $46,000 [4] - Revenue from virtual and hybrid events decreased by $38,000, or 7.8%, due to the postponement of several events [4] - Cost of revenue increased by 26.6% to $138,000, primarily due to higher labor costs associated with physical events [4] - Selling, General, and Administrative Expenses rose by 66.7% to $2,185,000, largely due to public company expenses [4] - Net loss for Q3 2025 was $1,987,000, a 103.8% increase compared to a net loss of $975,000 in Q3 2024, attributed to increased public company expenses and decreased revenue from a major customer [11] Strategic Initiatives - The company plans to focus on recurring revenue streams through the accelerated development of its SaaS model [11] - TEN Holdings aims to enhance its market position by developing a product partnership with V-Cube Inc. to leverage advanced event technologies [11] - The company is considering additional strategic partnerships and acquisitions to diversify revenue growth opportunities [11]

Financial Performance - Total revenue for Q3 2025 was $543,000, a slight increase from $535,000 in Q3 2024, while revenue for the nine months ended September 30, 2025, was $2,398,000, down from $2,686,000 in the same period of 2024[11]. - Gross profit for Q3 2025 was $405,000, compared to $426,000 in Q3 2024, and for the nine months ended September 30, 2025, gross profit was $1,899,000, down from $2,152,000 in 2024[11]. - Net loss for Q3 2025 was $1,987,000, compared to a net loss of $975,000 in Q3 2024, and the net loss for the nine months ended September 30, 2025, was $9,607,000, up from $1,801,000 in 2024[11]. - Total revenues decreased by $288,000, or 10.7%, to $2,398,000, primarily due to a $403,000 decrease in virtual and hybrid events revenue[143]. - Gross profit declined by $253,000, or 11.8%, to $1,899,000, reflecting the decrease in total revenues[143]. - Net loss increased to $9,607,000 for the nine months ended September 30, 2025, compared to a net loss of $1,801,000 for the same period in 2024, representing a 433.4% increase[148]. - Adjusted EBITDA for the nine months ended September 30, 2025, was $(4,088,000), compared to $(1,607,000) in 2024[154]. Operating Expenses - Operating expenses for Q3 2025 increased to $2,332,000 from $1,325,000 in Q3 2024, with selling, general and administrative expenses rising significantly to $2,185,000 from $1,311,000[11]. - Selling, General and Administrative (SG&A) expenses surged by $5,745,000, or 152.8%, to $9,504,000, largely due to $3,500,000 in stock compensation expenses[144]. - Selling, General and Administrative (SG&A) expenses rose by $874,000, or 66.7%, to $2,185,000 due to increased costs associated with being a public entity[131]. Cash Flow and Liquidity - Cash and cash equivalents increased to $310,000 as of September 30, 2025, from $48,000 at the end of 2024[9]. - Net cash used in operating activities increased to $9,035,000 in 2025 from $1,763,000 in 2024, primarily due to a higher net loss[164]. - Net cash provided by financing activities rose significantly to $10,125,000 in 2025 from $2,480,000 in 2024, driven by proceeds from the issuance of shares[166]. Assets and Liabilities - Total assets as of September 30, 2025, were $10,746,000, up from $6,424,000 at the end of 2024[9]. - Total liabilities decreased to $6,962,000 as of September 30, 2025, from $8,024,000 at the end of 2024[9]. - Shareholders' equity improved to $3,784,000 as of September 30, 2025, compared to a deficit of $1,600,000 at the end of 2024[9]. Stock and Financing - The Company completed its IPO on February 18, 2025, issuing 1,667,000 shares at a price of $6.00 per share, resulting in net proceeds of approximately $8,900 after expenses[93]. - The company issued 4,454,818 shares of common stock at a weighted average price of $0.32 per share, totaling $945,542, after September 30, 2025[114]. - The company entered into a purchase agreement with Lincoln Park to purchase up to an aggregate of $20,000,000 of common stock over a 24-month term, with 882,145 shares issued on June 23, 2025[175]. Customer Dependency - The Company is dependent on attracting and retaining revenue-generating customers and acquiring new customer contracts to continue as a going concern[26]. - For the nine months ended September 30, 2025 and 2024, one customer accounted for more than 10% of the Company's total revenue in both periods[42]. Legal and Compliance - The company received a deficiency letter from Nasdaq on June 30, 2025, indicating non-compliance with the bid price requirement, with a compliance period until December 29, 2025[176]. - The company intends to consider a reverse stock split to regain compliance with Nasdaq requirements, with stockholder authorization for a split in the range of 1-for-10 to 1-for-20[177]. - The company received a grand jury subpoena from the U.S. Attorney's Office related to its initial public offering, and is cooperating with the investigation[181]. Operational Focus - The company is focused on expanding its event platform, the Xyvid Pro Platform, to enhance virtual and hybrid event experiences for clients[20]. - The Company operates as one segment, generating revenue from Hybrid and Virtual Events and Physical Events[40].

Summary of TEN Holdings Conference Call Company Overview - **Company Name**: TEN Holdings (NasdaqCM:XHLD) - **Industry**: Virtual Corporate Events - **Public Listing**: Went public on February 13, 2025, with V-Cube Inc. as the parent company owning approximately 67-68% of shares post-IPO [1][3][26] Core Business Model - **Focus**: TEN Holdings aims to grow its initial operating company, which specializes in virtual corporate events, into a network supporting Fortune 1000 enterprise customers [2] - **Event Types**: Offers three types of events: virtual, in-person, and hybrid [4][5] - **Market Potential**: The virtual events market is projected to reach $30 trillion annually by 2030 [5] Operational Insights - **Event Production**: Emphasizes high-quality, high-fidelity production, likening their events to major television broadcasts [7][8] - **Clientele**: Works with large corporate enterprises, including a Big Four consulting firm, and has experience with various industries such as gaming and pharmaceuticals [9][18] - **Pricing Model**: Event pricing varies based on size and complexity, ranging from $3,000 to $100,000 depending on the scale and services required [30][31] Technology and Innovation - **Proprietary Technology**: The company has developed a unique platform for live streaming events, which is highly configurable and resilient [11][17] - **AI Integration**: Currently exploring AI applications for presentation creation, auto-translation, and virtual presenters [21] - **Self-Service Model**: Introduced a self-service product called TEN Pro, allowing clients to manage their own events while maintaining high quality [22][23] Growth Strategy - **M&A Focus**: Plans to expand through mergers and acquisitions, targeting companies in the corporate event space [3][25] - **Strategic Partnerships**: Aims to align with V-Cube Inc.'s technology and explore additional strategic investments [25][26] - **Revenue Goals**: Aspires to grow into a $20 million revenue business by leveraging existing operations and potential acquisitions [27][28] Financial Considerations - **Funding Mechanism**: Established a $20 million equity line of credit to support strategic initiatives [27] - **Revenue Model**: Emphasizes the importance of subscription revenue models for high margins, particularly in software [24] Market Position and Competition - **Competitive Landscape**: Acknowledges competition from other vendors like On24 and Kaltura, which offer self-service solutions [22] - **Unique Selling Proposition**: Differentiates itself through high production quality and a full-service model, catering to high-stakes corporate events [12][19] Conclusion - **Future Outlook**: TEN Holdings is positioned to capitalize on the growing demand for virtual events, with a strong focus on technology, quality, and strategic growth through partnerships and acquisitions [36]

Company Overview - TEN Holdings (NASDAQ: XHLD) is a provider of event planning, production, and broadcasting services through its subsidiary Ten Events, aiming to disrupt the $355 billion global corporate events market, projected to reach $510 billion by 2030 at a 10.5% CAGR [1][5] - The company’s Xyvid Pro platform supports virtual, hybrid, and in-person events for Fortune 500 clients across various sectors, capable of delivering broadcasts for up to 80,000 attendees [2] Product Development - The Ten Events Pro ("Ten Pro") platform, currently in beta and set for a Q1 2026 launch, introduces AI-driven analytics, CRM integration, and user-friendly interfaces, enhancing event management from product launches to training certifications [2] - The Early Adopter Program has accelerated development, adding 12 new enterprise clients in 2025, a fourfold increase compared to 2024, and earning G2's "High Performer" badge in Spring 2025 [2] Market Trends - The virtual events segment, valued at $194 billion in 2024, is expected to grow to $617 billion by 2032, reflecting a 21.7% CAGR, driven by hybrid formats and corporate digitalization [3] - TEN's studio network reduces talent travel costs by 30%, indicating operational efficiency and cost-saving potential [3] Strategic Positioning - TEN Holdings is positioning for exponential growth with potential mergers and acquisitions, as indicated by the new CFO's expertise in M&A [3][4] - The company has secured a $20 million equity line and a $1 million buyback, supporting its growth initiatives [2]

Company Overview - TEN Holdings, Inc. operates through its subsidiary, Ten Events, Inc., providing event planning, production, and broadcasting services, primarily focusing on virtual, hybrid, and physical events [4] - The company is headquartered in Pennsylvania and utilizes its proprietary Xyvid Pro Platform to support its services [4] Upcoming Investor Events - TEN Holdings will participate in several key investor-focused events in 2025, including the MicroCap Rodeo, LD Micro Main Event, and Spartan Capital Investor Conference [3][6] - These events are seen as critical for enhancing brand awareness and building relationships within the U.S. investment community [3] Event Details - **MicroCap Rodeo Fall Conference**: Scheduled for September 25, 2025, in New York, featuring approximately 15 microcap companies and opportunities for investors to discover unique stock ideas [6] - **LD Micro Main Event XIX**: Taking place from October 19-21, 2025, in San Diego, this event is renowned for small- and micro-cap companies, offering keynote speeches, presentations, and networking opportunities [6] - **Spartan Capital Investor Conference 2025**: Set for November 3, 2025, in New York City, this conference will include over 50 public and private companies, facilitating interactions between growth-stage companies and investors [6]

Company Overview - TEN Holdings (NASDAQ: XHLD) is a provider of event planning, production, and broadcasting services through its subsidiary Ten Events, which is redefining the event space with advanced technology [4][7] - The company has launched the Ten Events Pro ("Ten Pro") SaaS solution, designed for enterprise-grade virtual, hybrid, and in-person events, enhancing user engagement and analytics [4][5] Market Position and Trends - The live and virtual events markets are projected to exceed $1.6 trillion combined by 2030, positioning TEN Holdings to capture significant market share through its proprietary technology [4] - The transition to a SaaS model is expected to unlock steady cash flows and real-time user insights, aligning with the trend of high-margin, recurring revenue models in public markets [5] Financial Metrics and Performance - The Russell 2000 index has outperformed the S&P 500 by 3.8% over the past year and 3.2% year-to-date, indicating a favorable environment for small-cap stocks like XHLD [3][6] - Subscription-based software platforms typically command revenue multiples of 7–10x, suggesting a strong valuation potential for Ten Pro within the $18.2 billion event management software space [5]

Core Insights - TEN Holdings is transforming the event industry with its Xyvid Pro Platform and the upcoming Ten Events Pro SaaS solution, targeting both virtual and in-person experiences [1][3][4] Market Opportunity - The company is positioned to capture a significant share of the $404.3 billion global virtual events market, which is expected to grow at a CAGR of 11.1% through 2027, and the $1.2 trillion live events industry, projected to grow at a CAGR of 7.5% through 2030 [2] - The global SaaS market is also experiencing explosive growth, with a CAGR of 18.7% through 2030, providing a favorable environment for TEN Holdings' SaaS transition [2] Product Offerings - The Xyvid Pro Platform offers studio-grade event experiences with real-time interactivity, customizable branding, and robust analytics, catering to high-stakes corporate events [3] - The Ten Pro SaaS platform enhances event management with cloud-based scalability, predictable pricing, and real-time dashboards for instant customization [3][4] Strategic Shift - The transition to a SaaS model is a defining milestone for TEN Holdings, aligning with industry trends where SaaS companies often see stock price surges of 200-400% post-launch [2][4] - The Early Adopter Program for Ten Pro has accelerated its development, positioning the company for significant growth in the high-margin SaaS sector [4][7] Financial Metrics - Subscription pricing ensures steady cash flows and higher customer lifetime value, enhancing forecasting accuracy [7] - The event management software market is valued at $18.2 billion, with a projected CAGR of 14.1%, indicating strong growth potential for TEN Holdings [7]

Core Insights - TEN Holdings is transitioning to a SaaS model with its Ten Events Pro platform, positioning itself to leverage the $1 trillion global SaaS market, which is expected to grow at a CAGR of 18.7% through 2030 [2][9] - The Early Adopter Program for TenPro is set to refine the platform before its full launch in early 2026, indicating a strategic shift from traditional event services to scalable SaaS delivery [3][9] - The SaaS model offers clients cost efficiency, flexibility, and predictable subscription pricing, enhancing scalability for global enterprises [4][9] Company Developments - TEN Holdings has launched an Early Adopter Program for TenPro, allowing select clients to access the platform in beta starting July 1, 2025 [3] - Analyst Barry M. Sine has expressed confidence in TEN's execution and customer traction, reaffirming revenue forecasts and a bullish outlook on long-term growth potential [7] - The company is actively pursuing M&A opportunities, with expectations for at least one acquisition before year-end, which could enhance global scale and operational synergies [8] Industry Trends - The SaaS model is recognized as the fastest-growing model in technology, providing predictable recurring revenue and higher valuations, which has attracted significant investor interest [5][9] - Organizations transitioning to SaaS are experiencing robust market enthusiasm and rapid expansion in their listings, indicating a structural momentum in the industry [5][9]

Core Business Performance - TEN Holdings has added 12 new enterprise customers in 2025, quadrupling the rate from the previous year, indicating strong demand for its flagship Xyvid Pro and high-quality live event streaming services [3] - The company experienced a temporary revenue impact in Q1 due to the off-cycle timing of a large biennial event, but no further disruptions are expected, with upcoming quarters anticipated to reflect organic growth [4] SaaS Platform Development - The launch of the Ten Pro SaaS platform is ahead of schedule, with initial revenue contributions expected as early as Q3 2025, earlier than previous estimates of 2026 [5] - The company has maintained high standards for quality and delivery speed by keeping development in-house [5] Financial Position and M&A Strategy - TEN Holdings has strong financial backing from its majority shareholder, V-Cube Inc., which owns approximately 70% of the company, allowing for strategic flexibility in funding growth initiatives without diluting shareholder value [6] - The management is actively pursuing M&A opportunities, with expectations of at least one transaction by year-end, and a potential larger-scale combination with V-Cube's event business for 2026 [7] Analyst Outlook - The analyst has reiterated a long-term bullish outlook on TEN Holdings, citing accelerating customer adoption, a fast-tracked SaaS rollout, and solid financial positioning [2][8] - Multiple catalysts are in motion, including early SaaS revenues and ongoing customer acquisition, positioning TEN Holdings to deliver value in both the near and long term [8]