Core Viewpoint - Barry M. Sine maintains a bullish outlook on TEN Holdings, Inc. due to its high-margin growth potential, strategic corporate synergies, and compelling valuation upside [1][2] Company Overview - TEN Holdings, Inc. is a provider of event planning, production, and broadcasting services, delivering virtual, hybrid, and physical event experiences through its subsidiary, Ten Events [8] Product and Service Offering - TEN Holdings specializes in high-quality event streaming services for large enterprise clients, focusing on mission-critical corporate events where quality and reliability are essential [3] - The Ten Pro SaaS platform aims to maintain premium quality while simplifying operations and reducing costs, targeting gross margins near 90% [4] Strategic Initiatives - The company is undergoing a sales and marketing overhaul to align its go-to-market strategy with the SaaS launch and broader platform transformation, which is expected to accelerate organic revenue growth and operational leverage [5] - An Early Adopter Program launched in July 2025 allows select enterprises to beta-test Ten Pro, shaping its development for scalable, high-margin revenue growth [4][5] Corporate Structure and Synergies - TEN Holdings is approximately 70% owned by a leading Japanese market player in corporate streaming and virtual events, with plans for a merger post-IPO to create a more powerful ecosystem for enterprise communications [6] Growth Potential - With a dual growth strategy through organic SaaS development and inorganic M&A activity, TEN Holdings is positioned as a compelling opportunity in digital enterprise communications, supported by a strong global parent and scalable technology [7]

Core Insights - TEN Holdings has launched an Early Adopter Program for its new SaaS platform, Ten Events Pro, aimed at transforming its operating model towards scalable, higher-margin, recurring revenue streams [2][4] - Ten Pro is designed for professional-grade virtual and hybrid event production, providing enterprise users with a flexible platform for various events, enhancing production capabilities and user experience [3][5] - The Early Adopter Program allows selected organizations to access Ten Pro before its public launch, enabling them to influence its development and gain a competitive edge [4][6] Company Overview - TEN Holdings, Inc. operates in event planning, production, and broadcasting services, delivering virtual, hybrid, and physical event experiences through its subsidiary, Ten Events [7] - The company utilizes proprietary technologies, including the Xyvid Pro platform, to facilitate high-impact content delivery and communications at scale [7]

[Form 8-K General Information](index=1&type=section&id=Form%208-K%20General%20Information) This section provides general information regarding the Form 8-K filing, including registrant identification and regulatory status [Registrant Details](index=1&type=section&id=Registrant%20Details) This section provides core identification details for TEN Holdings, Inc., including its incorporation state and principal executive offices - Registrant Name: **TEN Holdings, Inc.**[1](index=1&type=chunk) - State of Incorporation: **Nevada**[1](index=1&type=chunk) - Principal Executive Offices: **1170 Wheeler Way, Langhorne, PA 19047**[1](index=1&type=chunk) [Securities and Regulatory Status](index=1&type=section&id=Securities%20and%20Regulatory%20Status) This section outlines the registrant's securities information and its status as an emerging growth company Securities Registration | Title of each class | Trading Symbol(s) | Name of each exchange on which registered | | :------------------ | :---------------- | :---------------------------------------- | | Common Stock | XHLD | The Nasdaq Stock Market LLC | - The registrant is an **'Emerging growth company'**[3](index=3&type=chunk) - The registrant has elected not to use the extended transition period for complying with new or revised financial accounting standards[3](index=3&type=chunk) [Item 2.02 Results of Operations and Financial Condition](index=2&type=section&id=Item%202.02%20Results%20of%20Operations%20and%20Financial%20Condition) This item details the announcement of the company's financial results for the specified quarter [Financial Results Announcement](index=2&type=section&id=Financial%20Results%20Announcement) TEN Holdings, Inc. announced Q1 2025 financial results via a press release furnished as Exhibit 99.1 - TEN Holdings, Inc. issued a press release on **August 14, 2025**[4](index=4&type=chunk) - The press release announced financial results for the quarter ended **March 31, 2025**[4](index=4&type=chunk) - The press release is furnished as **Exhibit 99.1** to this Current Report on Form 8-K[4](index=4&type=chunk) [Item 9.01 Exhibits](index=2&type=section&id=Item%209.01%20Exhibits) This item lists all documents furnished as exhibits to the Form 8-K, including the press release and interactive data file [List of Exhibits](index=2&type=section&id=List%20of%20Exhibits) This section lists all documents filed as exhibits to the Form 8-K, including the press release and interactive data file Exhibits Filed | Exhibit No. | Description | | :------------ | :-------------------------------- | | 99.1 | Press Release dated August 14, 2025 | | 104 | Cover Page Interactive Data File | [SIGNATURES](index=3&type=section&id=SIGNATURES) This section contains the formal signatures confirming the authenticity of the Form 8-K filing [Report Signatures](index=3&type=section&id=Report%20Signatures) The report was formally signed by TEN Holdings, Inc.'s CEO and Director on August 14, 2025 - The report was signed on **August 14, 2025**[8](index=8&type=chunk) - Signatory: **Randolph Wilson Jones III**[8](index=8&type=chunk) - Title: **Chief Executive Officer and Director of TEN Holdings, Inc.**[8](index=8&type=chunk)

FORM 10-Q Filing Information Details the filing type, registrant information, filer status, and common stock outstanding for the quarterly report - Filing Type: Quarterly Report (Form 10-Q) for the period ended June 30, 2025[2](index=2&type=chunk) - Registrant: TEN Holdings, Inc., incorporated in Nevada, trading symbol XHLD on The Nasdaq Stock Market LLC[2](index=2&type=chunk)[3](index=3&type=chunk) Filer Status | Filer Status | Status | | :---------------------- | :----- | | Large accelerated filer | ☐ | | Accelerated filer | ☐ | | Non-accelerated filer | ☒ | | Smaller reporting company | ☒ | | Emerging growth company | ☒ | - Common Stock Outstanding (as of August 14, 2025): **35,178,787 shares**[4](index=4&type=chunk) Part I - Financial Information Presents unaudited condensed consolidated financial statements and management's discussion and analysis, highlighting significant losses and going concern doubts - Total assets increased by **72.2% to $11,060 thousand** at June 30, 2025, from $6,424 thousand at December 31, 2024, driven by increases in cash and related party advances[9](index=9&type=chunk) - The company reported a net loss of **$(7,620) thousand** for the six months ended June 30, 2025, a significant increase from $(826) thousand in the prior year, primarily due to higher operating expenses and other non-recurring expenses[11](index=11&type=chunk)[149](index=149&type=chunk) - Stockholders' equity improved from a deficit of **$(1,600) thousand to a positive $5,343 thousand**, largely due to **$8,900 thousand in IPO proceeds** and **$3,206 thousand from debt settlement via share issuance**[9](index=9&type=chunk)[13](index=13&type=chunk)[94](index=94&type=chunk)[97](index=97&type=chunk) - Net cash used in operating activities was **$(7,577) thousand** for the six months ended June 30, 2025, but financing activities provided **$8,798 thousand**, resulting in a net cash increase[16](index=16&type=chunk)[161](index=161&type=chunk) - The company's recurring losses and negative operating cash flow raise substantial doubt about its ability to continue as a going concern[26](index=26&type=chunk) [Item 1. Financial Statements](index=4&type=section&id=Item%201%20Financial%20Statements) Presents unaudited condensed consolidated financial statements, including balance sheets, income statements, cash flows, and notes, highlighting significant losses and going concern doubts [Condensed Consolidated Balance Sheets](index=4&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) Balance Sheet Item (in thousands) | Balance Sheet Item (in thousands) | June 30, 2025 (Unaudited) | December 31, 2024 (Audited) | Change ($) | Change (%) | | :-------------------------------------- | :------------------------ | :-------------------------- | :--------- | :--------- | | Cash and cash equivalents | $739 | $48 | $691 | 1439.6% | | Accounts receivable, net | $233 | $515 | $(282) | (54.8%) | | Advance - related party (current) | $2,102 | $- | $2,102 | N/A | | Total Current Assets | $3,334 | $1,787 | $1,547 | 86.6% | | Advance - non-current - related party | $2,893 | $- | $2,893 | N/A | | Intangible assets, net | $4,146 | $3,888 | $258 | 6.6% | | Total Non-current Assets | $7,726 | $4,637 | $3,089 | 66.6% | | **Total Assets** | **$11,060** | **$6,424** | **$4,636** | **72.2%** | | Short-term loans - related party | $3,670 | $5,617 | $(1,947) | (34.7%) | | Total Current Liabilities | $5,254 | $7,522 | $(2,268) | (30.1%) | | **Total Liabilities** | **$5,717** | **$8,024** | **$(2,307)** | **(28.7%)** | | Additional paid-in capital | $14,879 | $317 | $14,562 | 4593.7% | | Accumulated deficit | $(9,542) | $(1,922) | $(7,620) | 396.5% | | **Total Stockholders' Equity (Deficit)** | **$5,343** | **$(1,600)** | **$6,943** | **433.9%** | [Condensed Consolidated Statements of Operations](index=5&type=section&id=Condensed%20Consolidated%20Statements%20of%20Operations) Income Statement Item (in thousands) - Three Months Ended June 30 | Income Statement Item (in thousands) | Three Months Ended June 30, 2025 | Three Months Ended June 30, 2024 | YoY Change ($) | YoY Change (%) | | :----------------------------------------- | :------------------------------- | :------------------------------- | :------------- | :------------- | | Revenue | $1,116 | $1,023 | $93 | 9.1% | | Cost of revenue | $175 | $141 | $34 | 24.1% | | Gross profit | $941 | $882 | $59 | 6.7% | | Selling, General and Administrative Expenses | $2,153 | $1,243 | $910 | 73.2% | | Depreciation expenses | $148 | $13 | $135 | 1038.5% | | Total operating expenses | $2,301 | $1,256 | $1,045 | 83.2% | | Loss from operations | $(1,360) | $(374) | $(986) | 263.6% | | Other income (expenses), net | $(1,344) | $2 | $(1,346) | 67300.0% | | Interest expenses, net | $(80) | $(48) | $(32) | 66.7% | | **Net Loss** | **$(2,784)** | **$(420)** | **$(2,364)** | **562.9%** | | Net loss per share, basic and diluted | $(0.13) | $(0.02) | $(0.11) | 550.0% | Income Statement Item (in thousands) - Six Months Ended June 30 | Income Statement Item (in thousands) | Six Months Ended June 30, 2025 | Six Months Ended June 30, 2024 | YoY Change ($) | YoY Change (%) | | :----------------------------------------- | :------------------------------- | :------------------------------- | :------------- | :------------- | | Revenue | $1,855 | $2,151 | $(296) | (13.8%) | | Cost of revenue | $361 | $425 | $(64) | (15.1%) | | Gross profit | $1,494 | $1,726 | $(232) | (13.4%) | | Selling, General and Administrative Expenses | $7,319 | $2,448 | $4,871 | 199.0% | | Depreciation expenses | $296 | $27 | $269 | 996.3% | | Total operating expenses | $7,615 | $2,475 | $5,140 | 207.7% | | Loss from operations | $(6,121) | $(749) | $(5,372) | 717.2% | | Other income (expenses), net | $(1,350) | $(3) | $(1,347) | 44900.0% | | Interest expenses | $(149) | $(74) | $(75) | 101.4% | | **Net Loss** | **$(7,620)** | **$(826)** | **$(6,794)** | **822.5%** | | Net loss per share, basic and diluted | $(0.26) | $(0.03) | $(0.23) | 766.7% | [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity) Stockholders' Equity Item (in thousands) | Stockholders' Equity Item (in thousands) | December 31, 2024 | June 30, 2025 | Change ($) | | :--------------------------------------- | :---------------- | :------------ | :--------- | | Balance, beginning of period | $(1,600) | $(1,600) | N/A | | Issuance

Core Viewpoint - TEN Holdings, Inc. reported a year-over-year revenue growth of 9.1% for the second quarter of 2025, driven by increased revenue from physical events despite a decline in virtual and hybrid events [2][5]. Financial Results - Revenue for the three months ended June 30, 2025, was $1,116,000, an increase of $93,000 from $1,023,000 in the same period of 2024, representing a growth of 9.1% [5]. - Revenue from delivered physical events increased significantly by $109,000, or 82.6%, while revenue from virtual and hybrid events decreased by $16,000, or 1.8% [5][6]. - Cost of revenue rose to $175,000, up $34,000 or 24.1% compared to the previous year, primarily due to increased physical events [6]. - Selling, general, and administrative expenses surged by $910,000, or 73%, totaling $2,153,000, largely due to costs associated with being a publicly traded company [6]. - The net loss for the quarter was $2,784,000, or $(0.13) per share, compared to a net loss of $408,000, or $(0.02) per share, in the same quarter of 2024 [6][11]. Company Outlook - The company aims to create shareholder value by expanding market presence, advancing products and services, and deepening customer relationships [4]. - Plans include enhancing the proprietary Xyvid Pro Platform with interactive features and focusing on recurring revenue streams through a Platform-as-a-Service (PaaS) model [11]. - The company is also looking to identify and invest in businesses that offer complementary advantages to enhance competitiveness and growth [11].

Company Overview - TEN Holdings, Inc. is a provider of event planning, production, and broadcasting services, headquartered in Pennsylvania [6] - The company specializes in producing virtual, hybrid, and physical events, utilizing its proprietary Xyvid Pro Platform for virtual and hybrid services [6] Appointment of CFO - Virgilio D. Torres has been appointed as Chief Financial Officer, effective June 30, 2025 [1] - Mr. Torres has extensive experience in corporate finance, mergers and acquisitions, and capital raising, having previously served as Vice President of Finance at Obsess Inc. [2][3] - His background includes managing financial operations for both public and private companies, and he has a strong track record in developing financial strategies and ensuring compliance with GAAP [2][3] Management's Perspective - Randy Jones, CEO of TEN Holdings, expressed confidence in Mr. Torres's ability to enhance the company's financial foundation and assist in capital raising and acquisition efforts [4] - Mr. Torres stated his excitement about joining TEN Holdings and his commitment to leveraging his skills in financial operations and strategy to drive the company's success [4] Educational Background - Mr. Torres holds a Bachelor of Business Administration in Finance with a minor in Economics and Statistics from Pace University in New York City [5]

Summary of TEN Holdings (XHLD) Conference Call Company Overview - **Company Name**: TEN Holdings Incorporated - **Ticker Symbol**: XHLD - **Founded**: 2011, originally as Ten Events - **Location**: Langhorne, Pennsylvania - **Industry**: Event management and virtual broadcasting services - **Global Reach**: Collaborates with a Japanese company, vCube, which has a significant presence in the APAC region [6][9][12] Core Business Model - **Service Offering**: Provides technology-based solutions for various types of events, including in-person, virtual, and hybrid events [6][18][19] - **Target Market**: Fortune 500 and Fortune 1,000 companies [6][18] - **Event Types**: - **In-Person Events**: Traditional conferences and trade shows [18] - **Virtual Events**: Fully online events with live broadcasting capabilities [18] - **Hybrid Events**: Combination of in-person and virtual attendance [19] Financial Performance - **Recent IPO**: Successfully went public on Nasdaq approximately 90 days prior to the conference [5] - **Revenue**: The virtual company generated $3.5 million in revenue last year but incurred a loss of about $2 million [52] - **Gross Margins**: Virtual events have gross margins around 80-82%, while physical events vary based on equipment usage [50][51] Strategic Growth Plans - **Expansion Strategy**: Plans to grow both organically and inorganically, including potential mergers and acquisitions of complementary event-based companies [39][46] - **Technology Integration**: Incorporating AI capabilities to enhance event preparation and presentation quality [35][36] - **New Product Launch**: Introduction of a platform as a service product called TenPro, aimed at providing clients with technology to run their own events [37] Market Positioning - **Competitive Advantage**: Emphasizes high production quality and a full-service model that includes all aspects of event management [30][32] - **Client Base**: Works with various industries, with a notable presence in the pharmaceutical sector due to geographical proximity [28][29] Key Partnerships - **vCube**: The Japanese company that acquired Ten Events in 2021, holding a significant stake in TEN Holdings [9][12] - **Potential Collaborations**: Interest in exploring partnerships with other event-based companies, particularly those with established client bases and no debt [46][48] Additional Insights - **Market Resilience**: The company views its diverse service offerings as a hedge against market fluctuations, as it can adapt to changes in demand for physical, virtual, or hybrid events [33] - **Operational Costs**: Acknowledges the high costs associated with being a public company, which are expected to normalize as the company grows [53] Conclusion - **Future Outlook**: TEN Holdings is positioned for growth with a focus on enhancing its technology offerings and expanding its market presence through strategic partnerships and acquisitions [54][55]

Core Insights - TEN Holdings, Inc. has launched an Early Adopter Program for its SaaS product, Ten Events Pro, marking a significant evolution in its service offerings and aiming for scalable, higher-margin growth [1][4] Group 1: Product Overview - Ten Events Pro is designed to deliver professional-grade production quality for virtual and hybrid events, providing flexibility, speed, and control through a single dashboard [2] - The platform features studio-grade visuals, real-time control, and integrated customization, catering to the needs of enterprise clients [2] Group 2: Early Adopter Program - The Early Adopter Program will commence on July 1, 2025, allowing selected companies to access the beta version of Ten Pro and provide feedback for its refinement before the official launch in early 2026 [3] Group 3: Strategic Shift - The transition to a SaaS model with Ten Pro is seen as a milestone for TEN Holdings, expected to reduce operational costs and create a scalable, recurring revenue stream [4] - Unlike traditional event production, Ten Pro aims to enhance margins by automating complex tasks and enabling clients to manage events of any size with reduced reliance on costly resources [4]

Company Overview - TEN Holdings, Inc. is a provider of event planning, production, and broadcasting services, headquartered in Pennsylvania [7] - The company specializes in virtual, hybrid, and physical events, utilizing its proprietary Xyvid Pro Platform for virtual and hybrid event services [7] Upcoming Events - TEN Holdings will participate in the Microcap Rodeo on June 4, 2025, in New York City, where it will present a company overview and engage in one-on-one meetings with investors [2] - The company will attend the CEM Bermuda Capital Event from June 6-8, 2025, for scheduled one-on-one investor meetings and networking sessions [3] - On June 10, 2025, TEN Holdings will deliver a live virtual presentation at the Q2 Virtual Investor Summit Event, along with individual meetings with investors [4] - A corporate overview will be presented during the Webull Corporate Connect Webinar on June 18, 2025, at 2:00 PM ET, followed by a live Q&A session [5] - The Skyline Signature Series Webinar on June 26, 2025, at 12:00 PM ET will feature a live presentation by TEN Holdings' management, followed by a Q&A session [6] Strategic Goals - The participation in these investor-focused events aims to enhance the company's visibility within the investment community and share recent developments and future growth initiatives [1]

Financial Results - TEN Holdings, Inc. reported financial results for Q1 2025 on May 20, 2025[4] - The press release detailing the financial results is included as Exhibit 99.1[5] Company Classification - The company is classified as an emerging growth company[3]