Fundamental drivers
TEN Holdingsâ Q2âŻ2025 performance was anchored by a sharp rebound in liveâevent activity as corporate and consumerâdriven gatherings returned to preâpandemic levels. Through its TENâŻEvents subsidiary, the company booked a 28âŻ% YoY lift in total event volume, with marquee conferences and entertainment productions driving a $215âŻmillion boost in topâline revenue versus Q2âŻ2024. Higherâmargin broadcast contractsâparticularly multiâyear streaming deals for sports and music festivalsâadded another 12âŻ% to earnings before interest, taxes, depreciation and amortisation (EBITDA). The quarter also benefited from operational efficiencies: a 4âŻ% reduction in costâofâservices (mainly through better vendor negotiations and a shift toward inâhouse production) translated into a 15âŻ% expansion in EBITDA margin to 18.3âŻ%.
Market and technical context
The earnings beat sparked a 3.2âŻ% rally in the Nasdaqâlisted stock, breaking above the $12.80 resistance level that has held since early June. Relative strength index (RSI) now sits at 62, indicating continued upside momentum, while the 20âday moving average has turned bullish, crossing above the 50âday line. Volume on the breakout day was roughly 1.8Ă the 30âday average, confirming broadâbased buying interest. However, the price still faces a $13.30â$13.45 upsideâresistance zone where a pullâback could test the Q2 support at $12.30 before resuming the uptrend.
Trading implication
Given the robust demand tailwinds, expanding margins, and a technically clean chart, the stock is positioned for further upside if TEN sustains event volume growth and continues to lock in highâmargin broadcast deals. A long position on pullâbacks to the $12.30â$12.50 support area offers a favorable riskâreward profile, with a target near $13.40â$13.50. Conversely, any sign of a slowdown in corporate event budgets or a downgrade in guidance could trigger a test of the $12.80 support, so a stop just below $12.25 would protect against a downside reversal.