# TEN Holdings, Inc. (XHLD) · Edgar & Edgarette company card

> TEN Holdings (XHLD) saw revenue fall 11.4% in FY2025 to $3 million, operating margin -433% against a 7.9% median for business services, equity 35.8% of assets. Every figure is from the company’s own annual report filed with the SEC.

SEC CIK 2030954 · fiscal year ended 2025-12-31 · 3 audited years read · [page](https://www.pops4.com/boards/company/XHLD) · [JSON](https://www.pops4.com/boards/company/XHLD.json)

## Figures, as filed in the 10-K

| Measure | Value |
|---|---|
| Revenue | $3M |
| Revenue growth, 1 year | -11.4% |
| Revenue growth per year | -8.6% |
| Operating margin | -432.5% (prior year -77.9%) |
| Net margin | -628.5% |
| Operating cash flow | −$10M |
| Capital spending | — |
| Free cash flow | — |
| Cash | $2M |
| Long-term debt | — |
| Total assets | $12M |
| Total equity | $4M |
| Equity ÷ assets | 35.8% |
| Return on equity | -455.9% |
| Dividend per share | — |
| Dividend years rising | — |

## Readings, computed from those figures

- Altman Z: -11.06 (distress zone)
- Piotroski F: 3 of 9 (middling)
- Health Harbor boat: Old boat · three warning signs · operating cash flow was negative; operating loss: a margin of -432.5% in FY2025; revenue is hard to predict: its 80% range is ±28%
- Cash Compass: In between · no clear cash pattern yet

## Edgarette's reading

Exposure: revenue $3.1M (FY2025). Experience: revenue down 11.4% on the year, down 8.6% a year over 2 years; operating margin -432.5%, down from -77.9%. Soundness: equity 35.8% of assets, return on equity -455.9%. Credibility: 3 audited years, moderate weight. Range: 80% of past cases like this landed between $2.0M and $3.7M next year (method v3, set from 749 SEC company-years; on a year the method never saw, 83% landed inside). A statistical range, not company guidance. Against peers (70 filers, $50M+ revenue, services-business services, nec): operating margin -432.5% against a 7.9% median; growth -11.4% against 10.2%.

Range logged 2026-09-20, receipt 8cdfa90e1d9181b0, status open. A statistical range, not company guidance.

## Health Watch, last 12 months

- Item 3.01 Exchange listing notice or transfer: 3, latest 2026-09-02 ([filing](https://www.sec.gov/Archives/edgar/data/2030954/000149315226041263/0001493152-26-041263-index.htm))
- Item 5.02 Director or officer change: 8, latest 2026-10-05 ([filing](https://www.sec.gov/Archives/edgar/data/2030954/000149315226045754/0001493152-26-045754-index.htm))

## Recent filings

- 8-K · filed 2026-10-29 · 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/2030954/000149315226049277/0001493152-26-049277-index.htm)
- 8-K · filed 2026-10-05 · 1.01 Entry into a Material Definitive Agreement; 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/2030954/000149315226045754/0001493152-26-045754-index.htm)
- 8-K · filed 2026-09-16 · 5.02 Departure or Election of Directors; Appointment of Officers; 8.01 Other Events; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/2030954/000149315226042930/0001493152-26-042930-index.htm)
- DEF 14A · filed 2026-09-10 · [filing](https://www.sec.gov/Archives/edgar/data/2030954/000149315226042047/0001493152-26-042047-index.htm)
- 8-K · filed 2026-09-04 · 5.02 Departure or Election of Directors; Appointment of Officers; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/2030954/000149315226041535/0001493152-26-041535-index.htm)
- 8-K · filed 2026-09-02 · 3.01 Notice of Delisting or Failure to Satisfy a Listing Rule; 9.01 Financial Statements and Exhibits · [filing](https://www.sec.gov/Archives/edgar/data/2030954/000149315226041263/0001493152-26-041263-index.htm)

## Sources

- facts: https://data.sec.gov/api/xbrl/companyfacts/CIK0002030954.json
- filings: https://www.sec.gov/cgi-bin/browse-edgar?action=getcompany&CIK=2030954

## Cite

POPS4, Edgar & Edgarette: TEN Holdings, Inc. (XHLD) company card, from the company's own SEC filings, accessed 2026-11-04, https://www.pops4.com/boards/company/XHLD. CC BY 4.0. For a figure, add the filing URL under filings or sources.

DOI https://doi.org/10.5281/zenodo.23672509 · catalog https://www.pops4.com/boards/catalog.json · Figures as filed with the SEC. Card text CC BY 4.0, POPS4.

Reporting, not investment advice. No price targets and no trading recommendations.

Figures are as filed in audited 10-K reports and can move with restatements, acquisitions, disposals or a change in fiscal year. A range set from how past company-years turned out is not a promise about the next one, and says nothing about the share price.