TEN Holdings Reports Third Quarter 2026 Financial Results

Virgilio Torres, Chairman and Chief Executive Officer of TEN Holdings

“Third quarter revenue increased 17.9% year over year to $640,000, as we completed customer engagements that had been initiated in prior periods and added revenue from new customers.”

Virgilio Torres, Chairman and Chief Executive Officer of TEN Holdings

“Our performance reflects continued demand for our digital engagement solutions and our ability to serve both existing and new customers. As we look ahead, our focus remains on expanding recurring revenue, strengthening our technology platform, and accelerating our transition toward a scalable, SaaS-driven business model.”

Virgilio Torres, Chairman and Chief Executive Officer of TEN Holdings

“Our third-quarter results reflect two significant expenses that we consider non-recurring: a $1.8 million write-off of previously capitalized service contracts and approximately $0.5 million in legal expenses. Excluding these items, our underlying selling, general and administrative expenses declined compared to the same period last year, reflecting the progress we have made in improving operational efficiency.”

Virgilio Torres, Chairman and Chief Executive Officer of TEN Holdings

“Over the past 12 months, we have reduced our annual operating cost structure by approximately $2.5 million through strategic cost reductions, process improvements, and the integration of AI-driven tools to streamline engineering and accelerate product development.”

Virgilio Torres, Chairman and Chief Executive Officer of TEN Holdings

“With these efficiencies largely implemented and a leaner operating structure in place, we are now shifting our focus toward accelerating revenue growth, expanding customer relationships, and scaling TEN, our new platform.”

Virgilio Torres, Chairman and Chief Executive Officer of TEN Holdings

“We also made significant progress in strengthening our balance sheet, reducing short-term related-party borrowings from $4.6 million at the beginning of the year to approximately $0.1 million as of September 30, 2026.”

Virgilio Torres, Chairman and Chief Executive Officer of TEN Holdings

“One of our most significant milestones this year was the launch of TEN, our next-generation Digital Experience Platform, whose development was accelerated by investments made possible through the proceeds of our June common stock offering, consistent with our previously communicated commitment to product development.”

Virgilio Torres, Chairman and Chief Executive Officer of TEN Holdings

“TEN represents an important step in our evolution toward a scalable, SaaS-driven business model, bringing together the tools organizations need to create, manage, deliver, and measure digital experiences within a unified platform.”

Virgilio Torres, Chairman and Chief Executive Officer of TEN Holdings

“At launch, TEN provides enterprises with a self-service solution for webinars, virtual events, and continuing education programs, with the capacity to support up to 50,000 concurrent attendees.”

Virgilio Torres, Chairman and Chief Executive Officer of TEN Holdings

“Building on our longstanding relationships with enterprise customers, many of whom rely on our technology for recurring digital engagement initiatives, we see a meaningful opportunity to transition these relationships toward subscription-based arrangements.”

Virgilio Torres, Chairman and Chief Executive Officer of TEN Holdings

“We believe this approach will deliver greater flexibility and value to our customers while creating a more predictable and recurring revenue stream for TEN Holdings.”

Virgilio Torres, Chairman and Chief Executive Officer of TEN Holdings

“Looking ahead, we are focused on three priorities: continuing the transition of our business from a managed services provider to a SaaS company, investing in TEN so that it remains competitive, and executing an acquisition strategy aimed at accretive businesses that add revenue and EBITDA, products our sales team can scale, and technology that complements our own.”

Virgilio Torres, Chairman and Chief Executive Officer of TEN Holdings

“With TEN now in the market, a leaner cost structure, and a simplified balance sheet, we believe TEN Holdings is positioned to build a more scalable, recurring revenue business and create long-term value for our shareholders.”

Virgilio Torres, Chairman and Chief Executive Officer of TEN Holdings

“Continue transitioning its business from a managed services model to a recurring, subscription-based SaaS model built on TEN, while continuing to offer white-glove managed production services for customers who want them.”

Virgilio Torres, Chairman and Chief Executive Officer of TEN Holdings

“Expand TEN beyond events and webinars, including AI and automation, integrations, engagement and intent, reporting and analytics, and content studio capabilities.”

Virgilio Torres, Chairman and Chief Executive Officer of TEN Holdings

“Pursue disciplined acquisitions of accretive businesses that add revenue and EBITDA, products the Company’s sales team can scale, and technologies that complement its existing intellectual property, as part of a broader consolidation strategy.”