Filing Flows › TEN Holdings (XHLD) › Q4 2025
TEN Holdings (XHLD) Q4 2025 earnings results (fourth quarter 2025)
10-K filed Mar 18, 2026
TEN Holdings (XHLD) reported revenue of $706K for the fourth quarter 2025 (Q4 2025), -4% from a year earlier and +30% from the quarter before. Operating margin was -761.8%.
TEN Holdings, Q4 2025: revenue $706K (-4% year over year), operating margin -761.8%, net loss $9.9M, operating cash flow −$1.0M. The chart follows the revenue to costs, profit and cash.
| Q4 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $706K | +30% | -4% |
| Operating profit | −$5.4M | — | — |
| Net earnings | −$9.9M | — | — |
| Operating cash flow | −$1.0M | — | — |
What changed
Revenue was $706K in Q4 2025, down 4% year over year and up 30% from the previous quarter. Delivered Events Virtual and Hybrid was the largest line at 96% of revenue.
Gross margin was 76.8%, down 18.0 points from a year earlier. Operating costs exceeded revenue by $5.4M, an operating margin of -761.8%. Operating expenses grew 233% against a revenue fall of 4%. The fastest-growing cost line was General & admin (+277%). The quarter ended with a net loss of $9.9M, wider than the previous quarter's $2.0M loss.
Operating cash flow was −$1.0M. Non-cash charges added back $147K of depreciation and amortization and $1.3M of share-based compensation. Working capital and other items added $7.4M.
Questions
What was TEN Holdings' revenue in the fourth quarter 2025?
TEN Holdings (XHLD) reported revenue of $706K for the fourth quarter 2025 (Q4 2025), -4% from a year earlier and +30% from the quarter before.
Was TEN Holdings profitable in the fourth quarter 2025?
Operating loss was $5.4M (-761.8% of revenue) and net loss $9.9M.
Source: TEN Holdings 10-K on SEC EDGAR.