--- title: "TEN | 10-K: FY2025 Revenue: USD 3.104 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/279668022.md" datetime: "2026-03-18T20:36:10.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/279668022.md) - [en](https://longbridge.com/en/news/279668022.md) - [zh-HK](https://longbridge.com/zh-HK/news/279668022.md) --- # TEN | 10-K: FY2025 Revenue: USD 3.104 M Revenue: As of FY2025, the actual value is USD 3.104 M. EPS: As of FY2025, the actual value is USD -8.58. EBIT: As of FY2025, the actual value is USD -13.14 M. #### Segment Revenue TEN Holdings, Inc. reported total revenue of $3.1 million for the year ended December 31, 2025, marking an 11.4% decrease from $3.5 million in 2024. Revenue from virtual and hybrid events decreased by $0.5 million, or 15.0%, to $2.7 million in 2025 from $3.2 million in 2024, primarily due to an event series with its largest customer not recurring in Q1 2025. This segment constituted 88.2% of total revenue in 2025, down from 91.9% in 2024. Revenue from physical events increased by $0.1 million, or 28.8%, to $0.4 million in 2025 from $0.3 million in 2024, driven by a higher volume of closed deals. #### Operational Metrics Gross profit for 2025 was $2.4 million, a 14.4% decrease from $2.9 million in 2024. Cost of revenue increased by 1.7% to $0.7 million in 2025 from $0.7 million in 2024, despite increased physical event revenue, due to continued efficiencies in event delivery. Total operating expenses increased by 184.4% to $15.9 million in 2025 from $5.6 million in 2024. Selling, General and Administrative (SG&A) expenses rose by $9.9 million, or 183.4%, to $15.3 million in 2025 from $5.4 million in 2024, with significant components including $10 million in non-cash stock-based compensation, $1.7 million in public company expenses, $3.1 million in payroll, and $0.4 million in business operations. Depreciation expenses increased by $0.4 million to $0.6 million in 2025, representing a 211.1% increase from $0.2 million in 2024, mainly due to the development of TEN Pro. Loss from operations widened to - $13.4 million in 2025 from - $2.7 million in 2024, a 392.2% increase. Other income (expenses), net, significantly increased to - $5.8 million in 2025 from - $30 thousand in 2024, primarily due to a $4.2 million impairment loss on intangible assets and loss on debt restructuring. Interest expenses increased by 35.2% to - $0.3 million in 2025 from - $0.2 million in 2024, mainly due to interest owed to V-Cube Inc. for loans. Net loss for 2025 was - $19.5 million, compared to - $3.0 million in 2024, marking a 557.3% increase. #### Cash Flow Net cash used in operating activities increased to - $10.1 million in 2025 from - $2.5 million in 2024, driven by higher operating expenses related to becoming a public company and an increased net loss. Net cash used in investing activities decreased to - $0.9 million in 2025 from - $1.0 million in 2024, mainly due to lower expenditures on property, equipment, and capitalized internal-use software. Net cash provided by financing activities increased to $12.5 million in 2025 from $3.2 million in 2024, primarily from proceeds from share issuance and short-term loans, partially offset by loan repayments. #### Unique Metrics In 2025, TEN Holdings, Inc. supported approximately 248 virtual and hybrid events, attracting about 525,812 attendees. Research and development expenses were $1.0 million in 2025, up from $0.1 million in 2024, reflecting continuous platform improvement efforts. The company’s largest customer accounted for 66.7% of total revenue in 2025 and 64.6% in 2024. One supplier (Azure) accounted for 12.6% of total purchases in 2025 and 17.9% in 2024. #### Outlook / Guidance TEN Holdings, Inc. expects its cash and cash equivalents to be sufficient for operating expenses and cash obligations for the next 12 months, contingent on attracting and retaining revenue-generating customers, securing new contracts, and obtaining additional financing. The company anticipates needing further financing through debt and equity investments to cover operating expenses and cash obligations beyond the next 12 months. 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