Algorhythm Holdings Reports Second Quarter 2025 Financial Results
Algorhythm Holdings (NASDAQ: RIME) reported its Q2 2025 financial results, marking significant improvements in performance. Revenue increased to $2.7 million from $2.4 million year-over-year, while gross profit margin expanded to 35.1% from 13.3%. The company substantially reduced its net loss to $0.8 million from $6.1 million in Q2 2024.
Key strategic moves included the acquisition of SMCB Solutions Private Ltd. (SemiCab India) and the sale of its Singing Machine subsidiary for $4.5 million. SemiCab secured five new contracts with major FMCG companies in India and expanded four existing contracts, growing its fleet from 140 to 450 trucks. The company projects its annualized revenue run rate to reach $23 million and aims to expand its fleet to over 1,000 vehicles by end-2025.
[ "Revenue increased to $2.7 million, up from $2.4 million year-over-year", "Gross profit margin significantly improved to 35.1% from 13.3%", "Net loss substantially decreased by $5.3 million to $0.8 million", "Sale of Singing Machine subsidiary for $4.5 million eliminated $4.0 million in liabilities", "SemiCab won five new FMCG contracts and expanded four existing ones by 100-200%", "Fleet size more than tripled from 140 to 450 trucks", "SemiCab's annualized revenue run rate grew from $2M to $7M since January" ]Algorhythm Holdings (NASDAQ: RIME) ha pubblicato i risultati del secondo trimestre 2025, mostrando miglioramenti significativi. I ricavi sono saliti a $2,7 milioni rispetto a $2,4 milioni dell'anno precedente, mentre il margine lordo 猫 aumentato al 35,1% rispetto al 13,3%. La perdita netta si 猫 ridotta drasticamente a $0,8 milioni rispetto a $6,1 milioni nel Q2 2024.
Tra le mosse strategiche rilevanti si annoverano l'acquisizione di SMCB Solutions Private Ltd. (SemiCab India) e la cessione della controllata Singing Machine per $4,5 milioni. SemiCab ha ottenuto cinque nuovi contratti con importanti aziende FMCG in India e ha ampliato quattro contratti esistenti, portando la flotta da 140 a 450 camion. La societ脿 stima un run rate di ricavi annualizzato di $23 milioni e punta a superare i 1.000 veicoli entro la fine del 2025.
- I ricavi sono saliti a $2,7 milioni dai $2,4 milioni anno su anno
- Il margine lordo 猫 migliorato significativamente al 35,1% dal 13,3%
- La perdita netta si 猫 ridotta di $5,3 milioni, portandosi a $0,8 milioni
- La vendita di Singing Machine per $4,5 milioni ha permesso di eliminare passivit脿 per $4,0 milioni
- SemiCab ha aggiunto cinque nuovi contratti FMCG e ampliato quattro contratti esistenti del 100鈥�200%
- La flotta 猫 pi霉 che triplicata, passando da 140 a 450 camion
- Il run rate annualizzato di SemiCab 猫 cresciuto da $2M a $7M da gennaio
Algorhythm Holdings (NASDAQ: RIME) present贸 sus resultados del segundo trimestre de 2025, mostrando mejoras notables. Los ingresos aumentaron a $2,7 millones desde $2,4 millones interanuales, y el margen bruto se ampli贸 al 35,1% desde el 13,3%. La p茅rdida neta se redujo sustancialmente a $0,8 millones frente a $6,1 millones en el Q2 de 2024.
Las decisiones estrat茅gicas clave incluyeron la adquisici贸n de SMCB Solutions Private Ltd. (SemiCab India) y la venta de su filial Singing Machine por $4,5 millones. SemiCab consigui贸 cinco nuevos contratos con importantes compa帽铆as FMCG en India y ampli贸 cuatro contratos existentes, incrementando su flota de 140 a 450 camiones. La empresa proyecta un run rate de ingresos anualizado de $23 millones y busca ampliar la flota a m谩s de 1.000 veh铆culos para finales de 2025.
- Los ingresos aumentaron a $2,7M desde $2,4M interanual
- El margen bruto mejor贸 significativamente al 35,1% desde 13,3%
- La p茅rdida neta se redujo en $5,3M, hasta $0,8M
- La venta de Singing Machine por $4,5M elimin贸 $4,0M en pasivos
- SemiCab obtuvo cinco nuevos contratos FMCG y ampli贸 cuatro contratos existentes entre un 100% y 200%
- La flota se triplic贸, pasando de 140 a 450 camiones
- El run rate anualizado de SemiCab creci贸 de $2M a $7M desde enero
Algorhythm Holdings (NASDAQ: RIME)電� 2025雲� 2攵勱赴 鞁れ爜鞚� 氚滍憸頃橂┌ 鞁れ爜鞚� 韥矊 臧滌劆霅橃棃鞚岇潉 氤搓碃頄堨姷雼堧嫟. 毵れ稖鞚� 鞝勲厔 霃欔赴 雽�牍� $2.4M鞐愳劀 $2.7M搿� 歃濌皜頄堦碃, 毵れ稖齑濎澊鞚惦鞚� 13.3%鞐愳劀 35.1%搿� 頇曤寑霅橃棃鞀惦媹雼�. 靾滌啇鞁れ潃 2024雲� 2攵勱赴鞚� $6.1M鞐愳劀 $0.8M鞙茧 韥矊 於曥唽霅橃棃鞀惦媹雼�.
欤检殧 鞝勲灥鞝� 臁办箻搿滊姅 SMCB Solutions Private Ltd. (SemiCab India) 鞚胳垬鞕� 鞛愴殞靷� Singing Machine鞚� $4.5M 毵り皝鞚� 韽暔霅╇媹雼�. SemiCab電� 鞚鸽弰鞚� 欤检殧 FMCG 旮办梾霌り臣 雼れ劘 瓯挫潣 鞁犼窚 瓿勳暯鞚� 觳搓舶頃橁碃 旮办〈 瓿勳暯 雱� 瓯挫潉 頇曤寑頃� 彀焿 靾橂ゼ 140雽�鞐愳劀 450雽�搿� 電橂牳鞀惦媹雼�. 須岇偓電� 鞐瓣皠 頇橃偘 毵れ稖鞚� $23M鞐� 霃勲嫭頃� 瓴冹溂搿� 鞝勲頃橂┌ 2025雲� 毵愱箤歆� 彀焿鞚� 1,000雽� 鞚挫儊鞙茧 頇曤寑頃橂姅 瓴冹潉 氇╉憸搿� 靷缄碃 鞛堨姷雼堧嫟.
- 毵れ稖鞚� 鞝勲厔 霃欔赴 $2.4M鞐愳劀 $2.7M搿� 歃濌皜
- 毵れ稖齑濎澊鞚惦鞚� 13.3%鞐愳劀 35.1%搿� 韥矊 臧滌劆
- 靾滌啇鞁れ潃 $5.3M 臧愳唽頃� $0.8M鞙茧 於曥唽
- Singing Machine 毵り皝($4.5M)鞙茧 $4.0M鞚� 攵�毂� 鞝滉卑
- SemiCab電� FMCG 鞁犼窚 瓿勳暯 5瓯挫潉 靾橃＜頃橁碃 旮办〈 4瓯挫潉 100鈥�200% 頇曤寑
- 彀焿 靾橂姅 140雽�鞐愳劀 450雽�搿� 靹� 氚� 鞚挫儊 歃濌皜
- SemiCab鞚� 鞐绊櫂靷� 毵れ稖鞚� 1鞗� 鞚错泟 $2M鞐愳劀 $7M鞙茧 歃濌皜
Algorhythm Holdings (NASDAQ: RIME) a publi茅 ses r茅sultats du deuxi猫me trimestre 2025, montrant des am茅liorations marquantes. Le chiffre d'affaires est pass茅 脿 $2,7 millions contre $2,4 millions d'une ann茅e sur l'autre, et la marge brute s'est accrue 脿 35,1% contre 13,3%. La perte nette a 茅t茅 fortement r茅duite 脿 $0,8 million contre $6,1 millions au T2 2024.
Parmi les d茅cisions strat茅giques importantes figurent l'acquisition de SMCB Solutions Private Ltd. (SemiCab India) et la cession de la filiale Singing Machine pour $4,5 millions. SemiCab a d茅croch茅 cinq nouveaux contrats avec de grands groupes FMCG en Inde et a 茅tendu quatre contrats existants, faisant passer sa flotte de 140 脿 450 camions. La soci茅t茅 pr茅voit un taux de revenus annualis茅 de $23 millions et vise 脿 porter sa flotte 脿 plus de 1 000 v茅hicules d'ici fin 2025.
- Le chiffre d'affaires est pass茅 脿 $2,7M contre $2,4M en glissement annuel
- La marge brute s'est nettement am茅lior茅e 脿 35,1% contre 13,3%
- La perte nette a diminu茅 de $5,3M, pour atteindre $0,8M
- La vente de Singing Machine pour $4,5M a permis d'茅liminer $4,0M de passifs
- SemiCab a remport茅 cinq nouveaux contrats FMCG et 茅tendu quatre contrats existants de 100鈥�200%
- La flotte a plus que tripl茅, passant de 140 脿 450 camions
- Le taux de revenus annualis茅 de SemiCab est pass茅 de $2M 脿 $7M depuis janvier
Algorhythm Holdings (NASDAQ: RIME) meldete seine Finanzzahlen f眉r das zweite Quartal 2025 und verzeichnete deutliche Verbesserungen. Der Umsatz stieg auf $2,7 Mio. gegen眉ber $2,4 Mio. im Vorjahr, w盲hrend die Bruttomarge auf 35,1% gegen眉ber 13,3% anstieg. Der Nettoverlust wurde deutlich auf $0,8 Mio. reduziert gegen眉ber $6,1 Mio. im Q2 2024.
Zu den wichtigen strategischen Schritten z盲hlen der Erwerb von SMCB Solutions Private Ltd. (SemiCab India) und der Verkauf der Tochtergesellschaft Singing Machine f眉r $4,5 Mio. SemiCab sicherte sich f眉nf neue Vertr盲ge mit gro脽en FMCG-Unternehmen in Indien und erweiterte vier bestehende Vertr盲ge, wodurch der Fuhrpark von 140 auf 450 Lkw wuchs. Das Unternehmen rechnet mit einer annualisierten Umsatzrate von $23 Mio. und strebt an, die Flotte bis Ende 2025 auf 眉ber 1.000 Fahrzeuge zu erweitern.
- Umsatz stieg auf $2,7 Mio. von $2,4 Mio. Jahr 眉ber Jahr
- Bruttomarge verbesserte sich deutlich auf 35,1% von 13,3%
- Nettoverlust sank um $5,3 Mio. auf $0,8 Mio.
- Verkauf von Singing Machine f眉r $4,5 Mio. beseitigte $4,0 Mio. an Verbindlichkeiten
- SemiCab gewann f眉nf neue FMCG-Vertr盲ge und erweiterte vier bestehende um 100鈥�200%
- Fuhrpark mehr als verdreifacht von 140 auf 450 Lkw
- SemiCabs annualisierte Umsatzrate stieg seit Januar von $2M auf $7M
- None.
- Operating expenses remain high at $1.7 million despite reduction
- Cash position relatively low at $1.1 million
- Company continues to operate at a net loss
Insights
Algorhythm's transformation shows improved financials but remains unprofitable despite strategic pivot to AI logistics.
Algorhythm Holdings has executed a strategic pivot that's starting to bear fruit in Q2 2025. Revenue increased modestly by
The significant reduction in operating expenses (
The cash position of
The SemiCab business shows promising growth metrics鈥攊ncreasing from a
This transformation has repositioned Algorhythm as an asset-light, technology-focused AI logistics company with improving economics, but investors should note it remains unprofitable with limited cash reserves despite the positive trajectory.
Fort Lauderdale, FL, Aug. 20, 2025 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (鈥淎lgorhythm鈥�) (NASDAQ: RIME) 鈥� an AI technology holding company, announced today its results of operations for the second quarter ended June 30, 2025.
Second Quarter Financial Highlights:
- Revenues increased to
$2.7 million in the second quarter of 2025 compared to$2.4 million in the same period last year. - Gross profit margin increased to
35.1% in the second quarter of 2025 from13.3% in the same period of the prior year. Gross profit was approximately$1.0 million for the second quarter 2025. - Total operating expenses decreased by
$4.8 million to$1.7 million in the second quarter of 2025, compared to$6.5 million in the same period last year. - Net loss decreased by
$5.3 million to$0.8 million for the second quarter of 2025 compared to$6.1 million in the same period last year. - Cash on hand was
$1.1 million as of June 30, 2025.
Second Quarter Business Highlights:
Algorhythm had a breakthrough quarter, marked by several major accomplishments since the beginning of the quarter. Most notable were the following:
- Algorhythm completed the acquisition of SMCB Solutions Private Ltd. (鈥淪emiCab India鈥�), the Indian managed services provider of SemiCab鈥檚 AI logistics platform.
- Algorhythm completed the sale of its consumer karaoke subsidiary, Singing Machine, for
$4.5 million , trimming approximately$4.0 million in liabilities and strengthening its balance sheet. - SemiCab won five new contracts with leading multinational fast moving consumer goods (鈥淔MCG鈥�) companies in India, expanding its footprint in the country鈥檚 high-growth logistics market.
- Four existing contracts were expanded, with lanes and volumes increasing by
100% 鈥�200% , driving significant revenue growth potential. - Fleet size increased from 140 to 450 trucks, positioning SemiCab to raise its annualized revenue run rate to
$23 million .
鈥淥ur second quarter was marked by the achievement of several milestones that built upon the momentum that we gathered during our first quarter,鈥� stated Gary Atkinson, Chief Executive Officer of Algorhythm. 鈥淲ith the acquisition of SemiCab India and the sale of our Singing Machine business, we transformed Algorhythm Holdings into a high-growth, technology-focused AI distribution and logistics company while significantly reducing our cash burn and strengthening our balance sheet.鈥�
Mr. Atkinson continued, 鈥淲e are now a people-light, asset-light, nimble and a cutting-edge technology company serving some of the largest consumer packaged goods companies in the world. Our SemiCab business has grown almost
Q2 2025 Financial Summary
鈥淩evenue for Q2 increased to
鈥淣et loss improved dramatically to
Conference Call Details:
Date: Wednesday, August 20, 2025
Time: 10:00 a.m. EDT
Dial-in number: 888-999-3182
Conference ID: RIME
An audio rebroadcast of the call will be available later in the day at:
About Algorhythm Holdings
Algorhythm Holdings, Inc. is an AI technology company focused on the growth and development of SemiCab, an emerging leader in the global logistics and distribution industry. Since 2020, SemiCab has enabled major retailers, brands and transportation providers to address these common supply-chain problems globally. Its AI-enabled, cloud-based Collaborative Transportation Platform achieves the scalability required to predict and optimize millions of loads and hundreds of thousands of trucks. SemiCab uses real-time data from API-based load tendering and pre-built integrations with TMS and ELD partners to orchestrate collaboration across manufacturers, retailers, distributors, and their carriers. SemiCab uses AI/ML predictions and advanced predictive optimization models to enable fully loaded round trips. With SemiCab鈥檚 AI platform, shippers pay less and carriers make more without having to change a thing.
For additional information, please go to:
Investor Relations Contact:
Brendan Hopkins
407-645-5295
听
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in Algorhythm鈥檚 reports to the SEC, including, without limitation Algorhythm鈥檚 Annual Report on Form 10-K for the year ended December 31, 2024. You should not place undue reliance on any forward-looking statement, each of which applies only as of the date of this press release. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations, or as a result of new information, future events or otherwise.
Algorhythm Holdings, Inc. and Subsidiaries
CONDENSED CONSOLIDATED BALANCE SHEETS
| 听 | 听 | June 30, 2025 | 听 | 听 | December 31, 2024 | 听 | ||
| 听 | 听 | (unaudited) | 听 | 听 | 听 | 听 | ||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Assets | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Current Assets | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Cash | 听 | $ | 1,134,000 | 听 | 听 | $ | 7,550,000 | 听 |
| Accounts receivable, net of allowances of | 听 | 听 | 2,317,000 | 听 | 听 | 听 | 4,373,000 | 听 |
| Accounts receivable, related party | 听 | 听 | 124,000 | 听 | 听 | 听 | 212,000 | 听 |
| Note receivable - related party | 听 | 听 | - | 听 | 听 | 听 | 701,000 | 听 |
| Inventory | 听 | 听 | 2,733,000 | 听 | 听 | 听 | 2,186,000 | 听 |
| Returns asset | 听 | 听 | 93,000 | 听 | 听 | 听 | 1,621,000 | 听 |
| Prepaid expenses and other current assets | 听 | 听 | 1,219,000 | 听 | 听 | 听 | 120,000 | 听 |
| Total Current Assets | 听 | 听 | 7,620,000 | 听 | 听 | 听 | 16,763,000 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Property and equipment, net | 听 | 听 | 252,000 | 听 | 听 | 听 | 284,000 | 听 |
| Other non-current assets | 听 | 听 | 90,000 | 听 | 听 | 听 | 124,000 | 听 |
| Intangible assets, net | 听 | 听 | 315,000 | 听 | 听 | 听 | 345,000 | 听 |
| Goodwill | 听 | 听 | 4,418,000 | 听 | 听 | 听 | 786,000 | 听 |
| Total Assets | 听 | $ | 12,695,000 | 听 | 听 | $ | 18,302,000 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Liabilities and Shareholders鈥� Equity | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Current Liabilities | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Accounts payable | 听 | $ | 1,996,000 | 听 | 听 | $ | 3,808,000 | 听 |
| Accrued expenses | 听 | 听 | 3,295,000 | 听 | 听 | 听 | 4,224,000 | 听 |
| Refund due to customer | 听 | 听 | 1,232,000 | 听 | 听 | 听 | 38,000 | 听 |
| Reserve for sales returns | 听 | 听 | 521,000 | 听 | 听 | 听 | 3,355,000 | 听 |
| Warrant liability | 听 | 听 | - | 听 | 听 | 听 | 16,603,000 | 听 |
| Promissory notes payable,net | 听 | 听 | 379,000 | 听 | 听 | 听 | - | 听 |
| Current portion of promissory note payable - SemiCab, Inc. | 听 | 听 | 1,500,000 | 听 | 听 | 听 | - | 听 |
| Current portion of notes payable to related parties | 听 | 听 | 265,000 | 听 | 听 | 听 | 265,000 | 听 |
| Other current liabilities | 听 | 听 | 62,000 | 听 | 听 | 听 | 145,000 | 听 |
| Total Current Liabilities | 听 | 听 | 9,250,000 | 听 | 听 | 听 | 28,438,000 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Notes payable to related parties, net of current portion | 听 | 听 | 385,000 | 听 | 听 | 听 | 385,000 | 听 |
| Promoissory note payable - SemiCab, Inc., net of current portion | 听 | 听 | 250,000 | 听 | 听 | 听 | - | 听 |
| Total Liabilities | 听 | 听 | 9,885,000 | 听 | 听 | 听 | 28,823,000 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Commitments and Contingencies | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Shareholders鈥� Equity (Deficit) | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Preferred stock, | 听 | 听 | - | 听 | 听 | 听 | - | 听 |
| Common stock, | 听 | 听 | 25,000 | 听 | 听 | 听 | 5,000 | 听 |
| Additional paid-in capital | 听 | 听 | 63,854,000 | 听 | 听 | 听 | 39,682,000 | 听 |
| Accumulated deficit | 听 | 听 | (58,948,000 | ) | 听 | 听 | (49,172,000 | ) |
| Non-controlling interest | 听 | 听 | (1,363,000 | ) | 听 | 听 | (1,036,000 | ) |
| Treasury stock, 10,990 and 0 shares reserved at June 30, 2025 and December 31, 2024 | 听 | 听 | (758,000 | ) | 听 | 听 | - | 听 |
| Total Algorhythm Holdings Shareholders鈥� Equity (Deficit) | 听 | 听 | 2,810,000 | 听 | 听 | 听 | (10,521,000 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Total Liabilities and Shareholders鈥� Equity (Deficit) | 听 | $ | 12,695,000 | 听 | 听 | $ | 18,302,000 | 听 |
Algorhythm Holdings, Inc. and Subsidiaries
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
(Unaudited)
| 听 | 听 | For the Three Months Ended | 听 | 听 | For the Six Months Ended | 听 | ||||||||||
| 听 | 听 | June 30, 2025 | 听 | 听 | June 30, 2024 | 听 | 听 | June 30, 2025 | 听 | 听 | June 30, 2024 | 听 | ||||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||||
| Net Sales | 听 | $ | 2,716,000 | 听 | 听 | $ | 2,440,000 | 听 | 听 | $ | 4,709,000 | 听 | 听 | $ | 4,866,000 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Cost of Goods Sold | 听 | 听 | 1,762,000 | 听 | 听 | 听 | 2,116,000 | 听 | 听 | 听 | 3,255,000 | 听 | 听 | 听 | 4,040,000 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Gross Profit | 听 | 听 | 954,000 | 听 | 听 | 听 | 324,000 | 听 | 听 | 听 | 1,454,000 | 听 | 听 | 听 | 826,000 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Operating Expenses | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Selling expenses | 听 | 听 | 234,000 | 听 | 听 | 听 | 547,000 | 听 | 听 | 听 | 998,000 | 听 | 听 | 听 | 1,177,000 | 听 |
| General and administrative expenses | 听 | 听 | 1,502,000 | 听 | 听 | 听 | 2,053,000 | 听 | 听 | 听 | 4,048,000 | 听 | 听 | 听 | 4,212,000 | 听 |
| Operating lease impairment expense | 听 | 听 | - | 听 | 听 | 听 | 3,878,000 | 听 | 听 | 听 | - | 听 | 听 | 听 | 3,878,000 | 听 |
| Total Operating Expenses | 听 | 听 | 1,736,000 | 听 | 听 | 听 | 6,478,000 | 听 | 听 | 听 | 5,046,000 | 听 | 听 | 听 | 9,267,000 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Loss from Operations | 听 | 听 | (782,000 | ) | 听 | 听 | (6,154,000 | ) | 听 | 听 | (3,592,000 | ) | 听 | 听 | (8,441,000 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Other Expenses | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Change in fair value of warrant liability | 听 | 听 | - | 听 | 听 | 听 | - | 听 | 听 | 听 | (6,468,000 | ) | 听 | 听 | - | 听 |
| Interest expense | 听 | 听 | (27,000 | ) | 听 | 听 | (17,000 | ) | 听 | 听 | (43,000 | ) | 听 | 听 | (45,000 | ) |
| Total Other Expenses | 听 | 听 | (27,000 | ) | 听 | 听 | (17,000 | ) | 听 | 听 | (6,511,000 | ) | 听 | 听 | (45,000 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Loss Before Income Tax Benefit | 听 | 听 | (809,000 | ) | 听 | 听 | (6,171,000 | ) | 听 | 听 | (10,103,000 | ) | 听 | 听 | (8,486,000 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Income Tax Benefit | 听 | 听 | - | 听 | 听 | 听 | 52,000 | 听 | 听 | 听 | - | 听 | 听 | 听 | - | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Net Loss | 听 | 听 | (809,000 | ) | 听 | 听 | (6,119,000 | ) | 听 | 听 | (10,103,000 | ) | 听 | 听 | (8,486,000 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Net loss attributable to non-controlling interest | 听 | 听 | 224,000 | 听 | 听 | 听 | - | 听 | 听 | 听 | 327,000 | 听 | 听 | 听 | - | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Net Loss Available to Common Shareholders | 听 | $ | (585,000 | ) | 听 | $ | (6,119,000 | ) | 听 | $ | (9,776,000 | ) | 听 | $ | (8,486,000 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Income (Loss) Per Common Share | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Basic and diluted | 听 | $ | (0.24 | ) | 听 | $ | (190.68 | ) | 听 | $ | (4.40 | ) | 听 | $ | (264.44 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Weighted Average Common and Common | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Equivalent Shares: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Basic and diluted | 听 | 听 | 2,472,464 | 听 | 听 | 听 | 32,090 | 听 | 听 | 听 | 2,224,047 | 听 | 听 | 听 | 32,090 | 听 |
Algorhythm Holdings, Inc. and Subsidiaries
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS
(Unaudited)
| 听 | 听 | For the Six Months Ended | 听 | |||||
| 听 | 听 | June 30, 2025 | 听 | 听 | June 30, 2024 | 听 | ||
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | ||
| Cash flows from operating activities | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Net loss | 听 | $ | (10,103,000 | ) | 听 | $ | (8,486,000 | ) |
| Adjustments to reconcile net loss to net cash used in operating activities: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Depreciation and amortization | 听 | 听 | 96,000 | 听 | 听 | 听 | 125,000 | 听 |
| Reduction in SMCB loan in exchange for services | 听 | 听 | 304,000 | 听 | 听 | 听 | - | 听 |
| Gain on allowance for credit loss | 听 | 听 | (439,000 | ) | 听 | 听 | - | 听 |
| Change in fair value of warrant liability | 听 | 听 | 6,468,000 | 听 | 听 | 听 | - | 听 |
| Provision for estimated cost of returns | 听 | 听 | 1,528,000 | 听 | 听 | 听 | 1,301,000 | 听 |
| Provision for inventory obsolescence | 听 | 听 | 4,000 | 听 | 听 | 听 | - | 听 |
| Credit losses | 听 | 听 | 3,000 | 听 | 听 | 听 | 14,000 | 听 |
| Impairment expense | 听 | 听 | - | 听 | 听 | 听 | 3,878,000 | 听 |
| Reserve for sales returns | 听 | 听 | (2,834,000 | ) | 听 | 听 | (1,217,000 | ) |
| Stock-based compensation | 听 | 听 | 47,000 | 听 | 听 | 听 | 36,000 | 听 |
| Changes in operating assets and liabilities: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Accounts receivable | 听 | 听 | 2,372,000 | 听 | 听 | 听 | 4,945,000 | 听 |
| Due from banks | 听 | 听 | - | 听 | 听 | 听 | (187,000 | ) |
| Accounts receivable - related parties | 听 | 听 | 88,000 | 听 | 听 | 听 | (145,000 | ) |
| Inventories | 听 | 听 | (551,000 | ) | 听 | 听 | (38,000 | ) |
| Prepaid expenses and other current assets | 听 | 听 | (722,000 | ) | 听 | 听 | 69,000 | 听 |
| Other non-current assets | 听 | 听 | 523,000 | 听 | 听 | 听 | (64,000 | ) |
| Accounts payable | 听 | 听 | (2,184,000 | ) | 听 | 听 | (3,940,000 | ) |
| Accrued expenses | 听 | 听 | (1,147,000 | ) | 听 | 听 | (771,000 | ) |
| Refunds due to customers | 听 | 听 | 1,194,000 | 听 | 听 | 听 | (649,000 | ) |
| Other liabilities | 听 | 听 | (83,000 | ) | 听 | 听 | (281,000 | ) |
| Net cash used in operating activities | 听 | 听 | (5,436,000 | ) | 听 | 听 | (5,410,000 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Cash flows from investing activities | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Purchase of property and equipment | 听 | 听 | (22,000 | ) | 听 | 听 | (6,000 | ) |
| Repurchase of shares of common stock | 听 | 听 | (758,000 | ) | 听 | 听 | - | 听 |
| Cash received from acquisition of SMCB | 听 | 听 | 593,000 | 听 | 听 | 听 | - | 听 |
| Advances to SMCB | 听 | 听 | (1,172,000 | ) | 听 | 听 | - | 听 |
| Net cash used in investing activities | 听 | 听 | (1,359,000 | ) | 听 | 听 | (6,000 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Cash flows from financing activities | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Proceeds from issuance of promissory notes, net | 听 | 听 | 379,000 | 听 | 听 | 听 | - | 听 |
| Other | 听 | 听 | - | 听 | 听 | 听 | (42,000 | ) |
| Net cash provided by (used in) financing activities | 听 | 听 | 379,000 | 听 | 听 | 听 | (42,000 | ) |
| Net change in cash | 听 | 听 | (6,416,000 | ) | 听 | 听 | (5,458,000 | ) |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Cash at beginning of year | 听 | 听 | 7,550,000 | 听 | 听 | 听 | 6,703,000 | 听 |
| Cash at end of period | 听 | $ | 1,134,000 | 听 | 听 | $ | 1,245,000 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Supplemental disclosures of cash flow information: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Cash paid for interest | 听 | $ | 43,000 | 听 | 听 | $ | 40,000 | 听 |
| 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Non-Cash investing and financing cash flow information: | 听 | 听 | 听 | 听 | 听 | 听 | 听 | 听 |
| Reclassification of Series A warrants to equity | 听 | $ | 7,857,000 | 听 | 听 | $ | - | 听 |
| Common stock issued for exercise of Series B warrants | 听 | $ | 15,214,000 | 听 | 听 | $ | - | 听 |
| Common stock issued for acquisition of SMCB | 听 | $ | 316,000 | 听 | 听 | $ | - | 听 |
| Promissory note issued for acquisition of SMCB | 听 | $ | 1,750,000 | 听 | 听 | $ | - | 听 |
FAQ
What were RIME's Q2 2025 earnings results?
How much did Algorhythm Holdings sell its Singing Machine subsidiary for?
What is RIME's projected fleet size and revenue run rate for 2025?
How many new contracts did SemiCab India secure in Q2 2025?
What was RIME's cash position as of June 30, 2025?
