Expanded Relationship Provides SemiCab With Capacity to Generate up to $2.5M of Revenue Annually From Apollo Tyres Fort Lauderdale, FL, Jan. 06, 2026 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (“Algorhythm”) (NASDAQ: RIME) – a leading AI technology company, today announced that SemiCab was recently awarded a large expansion to its Master Services Agreement with Apollo Tyres, Ltd. (“Apollo Tyres”), the second largest tire manufacturer in India with over $5 billion in annual sales and a top ten global comp ...

New Fortune 500 customer contracts, 10x increase in contracted freight volume, and successful launch of Apex SaaS platform are expected to drive accelerating long-term revenue growth Fort Lauderdale, FL, Dec. 22, 2025 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (“Algorhythm”) (NASDAQ: RIME) – a leading AI technology company, today issued a year-end business recap of the corporate transformation that it underwent during 2025 and the strong revenue growth achieved by its SemiCab business. Algorhythm entere ...

Largest Contract Expansion in Company’s History, 10X Increase Over Initial Pilot Program Fort Lauderdale, FL, Dec. 11, 2025 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (“Algorhythm”) (NASDAQ: RIME) – a leading AI technology company, announced today that SemiCab has secured a major expansion of its Master Services Agreement with one of India’s largest paint manufacturers and retailers. The customer, one of the 10 largest global shippers in the paints industry with over $4 billion in annual sales, operates ...

Core Insights - Algorhythm Holdings, Inc. has announced a joint sales and marketing agreement between SemiCab and Provisi.ai to enhance the launch of SemiCab's new Apex SaaS platform targeting U.S.-based 3PLs and enterprise shippers [1][3] Company Overview - Algorhythm Holdings, Inc. is a leading AI technology company focused on the growth of SemiCab, which addresses supply-chain problems globally through its AI-enabled, cloud-based Collaborative Transportation Platform [7] - SemiCab's technology aims to optimize logistics by using real-time data and advanced predictive optimization models to enable fully loaded round trips [7] Partnership Details - Provisi.ai, led by Shane Engle, has a strong track record in executing complex SaaS product launches within the Fortune 500 market, including significant contracts worth up to $100 million annually [2][3] - The partnership is expected to leverage Provisi.ai's access to Fortune 500 clients to promote SemiCab's value proposition, particularly in reducing empty miles and increasing profitability [3][5] Market Potential - The U.S. full-truckload (FTL) total addressable market is approximately $450 billion, presenting a significant opportunity for SemiCab's Apex platform [3] - It is estimated that around $150 billion, or 30-35%, of U.S. annual shipping spend is wasted on empty miles, which SemiCab aims to reduce by 70% through its technology [5] Apex Platform Features - SemiCab Apex extends the company's AI-driven orchestration engine to the U.S. market, enabling enterprise-level supply chains to predict, plan, and profit with precision [4] - The platform allows 3PLs and enterprise shippers to create branded logistics operating systems, integrate with existing systems, and leverage predictive analytics for cost savings and efficiency improvements [6]

Core Insights - SemiCab has significantly expanded its transportation services engagement with Marico, a leading consumer goods company in India, following a successful pilot program [3][5] - The expansion is expected to generate an annualized revenue opportunity of approximately $3 million for SemiCab, marking its fifth multi-million dollar contract in 2025 [2][4] - The partnership aims to enhance Marico's nationwide operations by providing greater service consistency, improved planning accuracy, and reduced transportation costs [3][4] Company Developments - SemiCab's managed transportation services are powered by an AI technology platform that optimizes logistics by reducing empty miles and improving asset utilization [4][6] - The CEO of SemiCab emphasized the growing momentum in their India business, highlighting that each new contract increases network density and drives greater efficiencies [5] - The company has positioned itself as a key managed transportation partner for large enterprises in India, reinforcing its market presence through multiple significant contract wins in 2025 [4][5] Industry Context - Algorhythm Holdings, the parent company of SemiCab, focuses on AI technology to address supply chain challenges globally, enabling collaboration among manufacturers, retailers, distributors, and carriers [6] - SemiCab's AI-enabled platform allows for the optimization of millions of loads and hundreds of thousands of trucks, enhancing the logistics and distribution industry [6]

Core Points - The meeting is the 2025 Annual Meeting of Stockholders for Algorhythm Holdings, Inc. [1] - The agenda includes several proposals for stockholder voting [1] Proposal Summaries - Proposal 1 involves the election of 7 directors [2] - Proposal 2 grants the Board of Directors the authority to amend the Certificate of Incorporation for a reverse stock split within a specified range of 1 for 2 to a maximum of 1 for 10 [2][3] - Proposal 3 seeks approval for the reincorporation of the Company from Delaware to Nevada [3] - Proposal 4 proposes an amendment to the 2022 Equity Incentive Plan to increase the number of shares authorized for issuance to 5 million [3] - Proposal 5 involves the approval of share issuance to Streeterville Capital, LLC, in pre-paid financing transactions that may exceed 20% of the outstanding shares [4] - Proposal 6 is to ratify the selection of M&K CPAs as the independent registered public accounting firm [4]

Financial Data and Key Metrics Changes - The company held its 2025 Annual General Meeting, where various proposals were presented for stockholder approval, including a reverse stock split and amendments to the equity incentive plan [1][2][3] - The preliminary report indicated that all proposals, including the election of directors and the amendment to the equity incentive plan, received majority approval from stockholders [12][13][14][15] Business Line Data and Key Metrics Changes - Specific financial data and performance metrics for individual business lines were not disclosed during the meeting [1][2][3] Market Data and Key Metrics Changes - No specific market data or key metrics were discussed in the meeting [1][2][3] Company Strategy and Development Direction - The company proposed a reverse stock split to potentially enhance its stock price and market perception, with a range of 1-for-2 to a maximum of 1-for-10 [9][13] - The reincorporation from Delaware to Nevada was also approved, which may reflect strategic considerations for regulatory or tax advantages [10][13] Management Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during the meeting [1][2][3] Other Important Information - The meeting included the election of seven directors, with all nominated candidates receiving affirmative votes [12][13] - The company ratified the selection of M&K CPAs as its independent registered public accounting firm for the fiscal year ending December 31, 2025 [15] Summary of Q&A Session - There were no specific questions or answers documented in the meeting [1][2][3]

Financial Data and Key Metrics Changes - The company held its 2025 Annual General Meeting, where various proposals were presented for stockholder voting, including a reverse stock split and reincorporation [1][2][3] - The preliminary report indicated that all proposals, including the amendment to the equity incentive plan and the issuance of shares to Streeterville Capital, were approved by a majority of votes [12][13][14][15] Business Line Data and Key Metrics Changes - Specific financial data and performance metrics for individual business lines were not disclosed in the meeting [1][2][3] Market Data and Key Metrics Changes - No specific market data or key metrics were provided during the meeting [1][2][3] Company Strategy and Development Direction - The company proposed a reverse stock split to potentially enhance its stock price and market perception, with a range of 1-for-2 to a maximum of 1-for-10 [9][13] - The reincorporation from Delaware to Nevada was aimed at potentially benefiting from a more favorable regulatory environment [10][13] Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during the meeting [1][2][3] Other Important Information - The meeting included the election of seven directors, with all nominated candidates successfully elected [12] - The company plans to increase the number of shares authorized for issuance under its equity incentive plan to 5 million [14] Summary of Q&A Session - No Q&A session was documented in the provided meeting records [1][2][3]

Financial Data and Key Metrics Changes - The stockholders approved the proposal to grant discretionary authority to the Board of Directors for a reverse stock split within a range of 1-for-2 to a maximum of 1-for-10, indicating a strategic move to potentially enhance share value [12][13][14] - The company successfully ratified the selection of M&K CPAs as the independent registered public accounting firm for the fiscal year ending December 31, 2025, ensuring compliance and transparency in financial reporting [15] Business Line Data and Key Metrics Changes - The amendment to the 2022 equity incentive plan to increase the number of shares authorized for issuance to 5 million was approved, which may impact employee compensation and retention strategies [14] Market Data and Key Metrics Changes - The approval of the issuance of shares to Streeterville Capital, LLC, in prepaid financing transactions that may collectively equal or exceed 20% of the issued and outstanding shares indicates a significant capital raise strategy [14] Company Strategy and Development Direction - The company is pursuing a reincorporation from Delaware to Nevada, which may provide more favorable business regulations and tax benefits [13] Management's Comments on Operating Environment and Future Outlook - Management did not provide specific comments on the operating environment or future outlook during this meeting, focusing instead on the proposals and voting results Other Important Information - The meeting concluded with the election of seven directors, ensuring continuity in governance and strategic direction [12][13] Summary of Q&A Session - There were no recorded questions or answers during the meeting, as the focus was primarily on the proposals and voting outcomes

Revenue and Sales Performance - Revenue for the three-month period ended September 30, 2025, was $1,744,000, a significant increase from $127,000 for the same period in 2024, primarily due to the acquisition of SMCB[156] - Net sales increased by $1,617,000 to $1,744,000 for the three-month period ended September 30, 2025, compared to $127,000 for the same period in 2024, primarily due to the acquisition of SMCB[161] - Net sales increased by $2,891,000 to $3,018,000 for the nine-month period ended September 30, 2025, compared to $127,000 for the same period in 2024, driven by SMCB's contribution[169] Costs and Expenses - Gross loss for the three-month period ended September 30, 2025, was $351,000, or 20% of net sales, compared to a gross loss of $32,000, or 25% of net sales in the same period of 2024[156] - Cost of sales rose by $1,936,000 to $2,095,000 for the three-month period ended September 30, 2025, compared to $159,000 for the same period in 2024, mainly due to costs associated with SMCB[162] - Cost of sales increased by $3,557,000 to $3,716,000 for the nine-month period ended September 30, 2025, compared to $159,000 for the same period in 2024, primarily due to SMCB[170] - Operating expenses decreased to $1,214,000 for the three-month period ended September 30, 2025, down from $1,791,000 in the same period of 2024[157] - General and administrative expenses decreased by $580,000 to $1,211,000 for the three-month period ended September 30, 2025, compared to $1,791,000 for the same period in 2024[166] - General and administrative expenses increased by $354,000 to $3,184,000 for the nine-month period ended September 30, 2025, compared to $2,830,000 for the same period in 2024[173] - Selling expenses were $3,000 for the three-month period ended September 30, 2025, with no selling expenses incurred in the same period in 2024[164] Net Loss and Financial Position - Net loss from continuing operations for the three-month period ended September 30, 2025, was $1,882,000, compared to $2,106,000 for the same period in 2024[157] - Net loss available to common shareholders for the three-month period ended September 30, 2025, was $2,962,000, or $1.15 per share, compared to a net gain of $1,195,000, or $0.13 per share, for the same period in 2024[158] - Net loss attributable to non-controlling interest was $20,000 for the three-month period ended September 30, 2025, down from $221,000 for the same period in 2024[168] Cash Flow and Financing - Net cash used by operating activities was $4,343,000 during the nine-month period ended September 30, 2025, compared to $3,770,000 for the same period in 2024[177] - Net cash provided by financing activities was $4,115,000 during the nine-month period ended September 30, 2025, compared to $1,103,000 for the same period in 2024, reflecting increased proceeds from promissory notes[180] Future Outlook - The company expects substantial increases in net sales from the SemiCab business over the next 12 months, particularly from the growing customer base in India[159] - Anticipated gross loss is expected to decrease as net sales from the SemiCab business increase, outpacing the rise in cost of sales[159] - The company plans to invest in the growth and development of the SemiCab business, which may lead to increased operating expenses due to legal and accounting costs[159] - Future acquisitions of complementary businesses may significantly impact the company's financial results, either positively or negatively[160] Assets - Total assets decreased from $18,302,000 at December 31, 2024, to $10,845,000 at September 30, 2025[158]