Revenue Growth - Revenue increased to $1.7 million for Q3 2025, up from $0.1 million in Q3 2024, representing a 1,273% year-over-year growth[4] - SemiCab's revenue grew over 1,200% year-over-year, achieving an annualized run rate of $7 million during Q2 2025[6] - Net sales for the three months ended September 30, 2025, were $1,744,000, compared to $127,000 for the same period in 2024, indicating a significant increase[15] - Algorhythm anticipates continued revenue growth over the next 12 months driven by SemiCab's expansion in India and the U.S.[7] - SemiCab's India segment is expected to generate over $23 million in annual revenue following fleet expansion to 450 trucks[6] Operating Expenses - Operating expenses decreased to $1.2 million in Q3 2025 from $1.8 million in Q3 2024, reflecting a cost reduction strategy[4] - Total operating expenses for the three months ended September 30, 2025, were $1,214,000, compared to $1,791,000 for the same period in 2024, showing a decrease in expenses[15] Profitability and Loss - Net loss from continuing operations decreased to $1.9 million in Q3 2025 compared to $2.1 million in Q3 2024[4] - Loss from operations for the three months ended September 30, 2025, was $(1,565,000), compared to $(1,823,000) for the same period in 2024, indicating an improvement[15] - Net loss from continuing operations for the three months ended September 30, 2025, was $(1,882,000), compared to $(2,106,000) for the same period in 2024, showing a reduction in losses[15] - Net income (loss) for the three months ended September 30, 2025, was $(2,982,000), compared to $974,000 for the same period in 2024, reflecting a significant decline[15] Cash and Liabilities - Cash on hand was $2.8 million as of September 30, 2025, down from $7.2 million at the end of 2024[13] - Total current liabilities decreased to $10.5 million in Q3 2025 from $28.4 million in Q4 2024[13] Strategic Initiatives - Algorhythm completed the sale of its Singing Machine business for $4.5 million, significantly reducing expenses and focusing on AI technology[5] - The new "Apex" SaaS platform aims to penetrate the $450 billion U.S. full-truckload market, providing asset-light recurring revenue[6] Shareholder Information - Basic and diluted loss per common share from continuing operations for the three months ended September 30, 2025, was $(0.72), compared to $(0.21) for the same period in 2024[15] - Basic and diluted loss per common share from discontinued operations for the three months ended September 30, 2025, was $(0.43), compared to $0.34 for the same period in 2024[15] - The weighted average common shares for the three months ended September 30, 2025, were 2,568,508, compared to 9,095,504 for the same period in 2024[15] Fair Value Changes - The company reported a change in fair value of warrant liability of $(6,468,000) for the nine months ended September 30, 2025[15]
The Singing Machine pany(MICS) - 2026 Q2 - Quarterly Results