---
schema_version: "secwatch.filing_event.v1"
accession: "0001641172-25-011585"
form_type: "8-K"
ticker: "XHLD"
cik: "0002030954"
company_name: "TEN Holdings, Inc."
filed_at: "2025-05-20T23:59:59+00:00"
generated_at: "2026-05-21T00:36:05.129555+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# TEN Holdings Q1 revenue falls 34.5% to $739K; net loss widens to $4.8M on stock comp

## Summary
- Revenue decreased 34.5% to $739K, mainly due to a biennial event series with its largest customer that did not repeat in 2025.
- Net loss was $4.836M ($0.18 per share) vs $405K ($0.02) a year ago; non-GAAP loss $1.324M ($0.05) excl stock comp.
- SG&A surged 328% to $5.166M, driven by $3.512M stock compensation expense from IPO option vesting.
- Cash used in operations was $6.785M vs $581K in Q1 2024; cash balance $247K.
- Company plans to invest in sales, PaaS model, and potential M&A.

## SEC filing metadata
- accession: 0001641172-25-011585
- form_type: 8-K
- ticker: XHLD
- cik: 0002030954
- company_name: TEN Holdings, Inc.
- filed_at: 2025-05-20T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/2030954/000164117225011585/0001641172-25-011585-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/2030954/000164117225011585/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001641172-25-011585
- JSON: https://secwatch.observer/filing/0001641172-25-011585.json
- Plain text: https://secwatch.observer/filing/0001641172-25-011585.txt

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.