TEN (NASDAQ:XHLD) outlined plans to expand its digital-experience business through a transition toward subscription software, product development and potential acquisitions, according to remarks delivered by an unnamed company representative at an investor event.
The company operates as a holding company with one operating business focused on digital experiences offered through subscription-based and managed-service models. The representative said the platform supports webinars, events, continuing professional education and learning programs for corporate customers, including public accounting and law firms.
As an example of its managed-service work, the representative said PricewaterhouseCoopers uses the company’s personnel and technology to create and stream quarterly town halls to as many as 50,000 employees globally.
Platform Expansion and SaaS Shift
TEN said it recently launched a subscription platform as part of its effort to move from being primarily a managed-service provider to a software-as-a-service, or SaaS, company. The company believes the shift could make its offering more competitive and create more recurring customer relationships.
The platform is designed for organizations hosting events ranging from roughly 100 to 1,000 attendees, according to the presentation. Customers can customize their webinar experiences, while the platform also offers capabilities for continuing education programs, including generating tests and scores, determining pass-or-fail status and sending results to accounting boards.
The representative said the company’s platform differs from standard video-conferencing tools because it supports both one-to-one meetings and one-to-many event experiences. The company also aims to reduce the need for customers to use separate vendors for webinars and learning functions.
TEN has added a content studio and analytics capabilities that connect with customers’ customer relationship management systems, the representative said. The objective is to have customers use the platform daily rather than only when they are holding events.
“The end goal is … I don’t want customers to just use our platform when they have events,” the representative said. “They need to use the platform on a daily basis, and I need to give them a reason to do so.”
Capital Raising, Cost Cuts and Profitability Goal
The company said it went public through an S-1 filing in February 2025 and raised $10 million. According to the presentation, approximately half of those proceeds were used to repay debt, with the remainder directed toward working capital.
TEN subsequently raised $7.5 million in a secondary offering. The company said it plans to use those funds to invest in products and personnel and potentially pursue smaller acquisitions.
Over the past 12 months, the company eliminated $2.25 million in expenses, the representative said. TEN expects the reductions to help it reach profitability next year, although no additional financial guidance was provided.
The company also said it has raised more than $14 million through several financing structures, including an equity line of credit, a private investment in public equity, or PIPE, and a secondary offering.
During the question-and-answer session, the representative said TEN had closed “pretty significant” SaaS contracts in recent weeks, though it did not identify the customers or disclose contract values. The company has a sales team of five people and uses a combination of electronic marketing and face-to-face sales efforts, according to the presentation.
Acquisition Strategy and Market Commentary
TEN said it intends to grow both organically through its platform and inorganically through acquisitions. The company recently filed a shelf registration, which the representative said could be used to support larger mergers and acquisitions activity.
Potential acquisition targets would need to be accretive, add to the company’s product capabilities and include intellectual property that can be scaled by TEN’s team, the representative said. Areas of interest include analytics and technology that enhances digital experiences and increases customer engagement with the platform.
The representative said the company has a “pretty hefty pipeline” of prospective acquisition targets, but said the timing of any transaction depends on when potential sellers are willing to proceed. No specific acquisition timeline or targets were disclosed.
Addressing recent share-price volatility, the representative said the pressure was primarily related to the company’s largest shareholder selling shares after a lockup expiration, rather than revenue. The representative also acknowledged questions about declining revenue and said the SaaS transition is intended to address the issue over time, adding that 2027 “should be a completely different story for the business.”
TEN also cited transactions involving Cvent, ON24 and Goldcast as examples of activity in its sector. The company said those businesses had received high acquisition multiples, while noting that any comparable outcome for TEN would depend on its future execution and strategy.
About TEN (NASDAQ:XHLD)
We are a provider of event planning, production, and broadcasting services headquartered in Pennsylvania. We mainly produce virtual and hybrid events and physical events. Virtual and hybrid events involve virtual and hybrid event planning, production and broadcasting services, and continuing education services, all of which are supported by our proprietary Xyvid Pro Platform. Physical events mainly involve live streaming and video recording of physical events. TEN Holdings, Inc was incorporated under the laws of the State of Pennsylvania as a business corporation on February 12, 2024.
