Fort Lauderdale, FL, Sept. 03, 2025 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (“Algorhythm Holdings” or the “Company”) (NASDAQ: RIME), an AI technology holding company, today announced that Gary Atkinson, Chief Executive Officer, will participate in the H.C. Wainwright 27th Annual Global Investment Conference, taking place September 8–10, 2025, in New York City. Mr. Atkinson’s presentation will be made available to conference attendees via webcast and will provide an overview of the Company’s business. ...

Core Insights - Algorhythm Holdings, Inc. has signed a master service agreement with Bajaj Electricals, a leading electronics manufacturer in India, with annual sales exceeding $560 million [1] - The agreement involves Algorhythm's subsidiary, SemiCab Holdings, providing AI-powered shipping services aimed at reducing costs and improving delivery accuracy across multiple metropolitan markets in India [2][3] - This partnership marks a significant milestone for SemiCab, as it is one of the first client mandates that bypasses the pilot phase, allowing for a quicker ramp-up and larger market share acquisition [3] Company Overview - Bajaj Electricals, founded in 1938 and based in Mumbai, is a diversified manufacturer of consumer electrical appliances, employing over 2,500 people and operating 19 offices in India [4] - The company has a wide distribution network, selling products through over 400,000 retail locations and is publicly traded on the Bombay Stock Exchange and National Stock Exchange of India [4] - Algorhythm Holdings focuses on AI technology and the development of SemiCab, which addresses supply chain challenges through its AI-enabled Collaborative Transportation Platform [5] Technology and Services - SemiCab's platform utilizes real-time data and advanced predictive optimization models to enhance logistics efficiency, enabling fully loaded round trips for shippers and carriers [5] - The AI-powered software aims to reduce service costs, improve delivery accuracy, and eliminate empty miles in transportation [2][5] - The partnership with Bajaj Electricals is expected to enhance SemiCab's ability to attract more clients in the rapidly growing Indian market [3]

Core Insights - Algorhythm Holdings, Inc. reported significant operational and financial improvements in Q2 2025, transitioning into a high-growth AI technology company focused on logistics and distribution [3][4]. Financial Highlights - Revenue for Q2 2025 increased to $2.7 million, up from $2.4 million in Q2 2024, primarily due to the acquisition of SemiCab India [4][5]. - Gross profit margin improved to 35.1% in Q2 2025 from 13.3% in the same period last year, with gross profit reaching approximately $1.0 million [5]. - Total operating expenses decreased by $4.8 million to $1.7 million in Q2 2025 compared to $6.5 million in Q2 2024 [5]. - Net loss decreased to $0.8 million in Q2 2025 from $6.1 million in the same period last year, reflecting a $3.9 million reduction in operating lease impairment and lower general and administrative expenses [5][6]. Business Developments - The acquisition of SemiCab India and the sale of the Singing Machine business have transformed Algorhythm into a technology-focused company, significantly reducing cash burn and strengthening the balance sheet [3]. - SemiCab's business has seen a nearly 300% growth in annualized revenue run rate, increasing from approximately $2 million in January to over $7 million [3]. - The fleet size of SemiCab increased from 140 to 450 trucks, with plans to expand to over 1,000 vehicles by the end of 2025 to meet growing demand [5]. Strategic Contracts - SemiCab secured five new contracts with leading multinational fast-moving consumer goods (FMCG) companies in India, expanding its presence in the high-growth logistics market [5]. - Existing contracts were expanded, with lanes and volumes increasing by 100% to 200%, indicating significant revenue growth potential [5].

Core Viewpoint - Algorhythm Holdings, Inc. is set to release its second quarter 2025 earnings on August 19, 2025, and will host a conference call on August 20, 2025, to discuss the financial results and provide a business update [1][2]. Company Overview - Algorhythm Holdings, Inc. operates as an AI technology holding company with a primary business unit called SemiCab [2]. - SemiCab is recognized as an emerging leader in the global logistics and distribution industry, addressing common supply-chain problems for major retailers, brands, and transportation providers since 2020 [3]. Technology and Operations - SemiCab's AI-enabled, cloud-based Collaborative Transportation Platform is designed to predict and optimize millions of loads and hundreds of thousands of trucks, achieving necessary scalability [3]. - The platform utilizes real-time data from API-based load tendering and integrates with Transportation Management Systems (TMS) and Electronic Logging Devices (ELD) to facilitate collaboration among manufacturers, retailers, distributors, and carriers [3]. - By employing AI/ML predictions and advanced predictive optimization models, SemiCab enables fully-loaded round trips, allowing shippers to reduce costs while increasing earnings for carriers without requiring operational changes [3].

Core Insights - Algorhythm Holdings, Inc. has announced a strategic partnership with Hicetane Logistics Innovations Pvt. Ltd. to enhance its logistics capabilities in India through the RoaDo platform [1][2] Group 1: Partnership Details - The partnership allows SemiCab to access over 10,000 trucks from more than 360 Indian trucking companies via RoaDo's real-time marketplace, enabling dynamic and cost-effective scaling of truck availability [2][3] - Ajesh Kapoor, CEO of SemiCab, emphasized that RoaDo's technology will help optimize routes and reduce empty miles, marking a significant milestone in operational efficiency [3][4] Group 2: Market Expansion - The collaboration aims to introduce SemiCab's AI-driven optimization platform to RoaDo's carrier network in North America through an integrated SaaS offering [3] - The partnership is expected to accelerate revenue growth by expanding on-demand trucking capacity and enhancing the network effects of SemiCab's Collaborative Optimization™ platform [4] Group 3: Company Background - Algorhythm Holdings focuses on emerging technology and AI-powered supply-chain solutions, with SemiCab as a key subsidiary addressing global supply-chain challenges [5][6] - SemiCab's AI-enabled platform is designed to predict and optimize logistics operations, allowing shippers to reduce costs while increasing carrier earnings [6]

Core Insights - Algorhythm Holdings, Inc. has sold its Singing Machine karaoke business to Stingray for $4.5 million, which includes cash and the assumption of selected liabilities [1][3] - The sale allows Algorhythm to focus on its AI-driven logistics platform, SemiCab, which has seen significant growth [3][7] - The transaction improves Algorhythm's balance sheet by eliminating approximately $4 million in liabilities and reducing annual cash outflows by over 70% [7] Company Overview - Algorhythm Holdings, Inc. operates primarily in AI technology and consumer electronics, with two main business units: SemiCab and Singing Machine [4] - SemiCab is positioned as a leader in global logistics, utilizing AI to optimize transportation and supply chain management [5] Transaction Details - The Singing Machine brand has been a leader in the home karaoke market for over 40 years, and the acquisition by Stingray is expected to ensure its continued success [3][6] - The sale will lead to a reduction in headcount in the U.S. and a shift towards lower-cost markets for future growth [7] Financial Impact - The transaction significantly enhances Algorhythm's financial position by reducing liabilities and cash burn, allowing for more focused capital allocation towards SemiCab [7]

About Algorhythm Holdings Algorhythm Holdings, Inc. (NASDAQ: RIME) is an AI technology and consumer electronics holding company with two primary business units – SemiCab and Singing Machine. New Expansion Makes SemiCab a Top Five Provider of Transportation Services to Kellanova India Fort Lauderdale, FL, July 29, 2025 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. ("Algorhythm") (NASDAQ: RIME) – an AI technology and consumer electronics holding company, today announced that its subsidiary, SMCB Solutions Pri ...

Core Insights - Algorhythm Holdings, Inc. announced a significant expansion of its Master Services Agreement with a major consumer packaged goods (CPG) manufacturer in India, which has annual revenues exceeding $84 billion [1] - The expansion will allow SemiCab India to provide managed transportation services on over 40 lanes, marking a 200% increase in the number of lanes currently serviced [2] - A new pilot program for a "drop & hook" freight model will be implemented, aimed at improving efficiency and reducing downtime for drivers [3][5] Company Developments - SemiCab India is set to go live with the expanded services in June 2025, leveraging its Collaborative Transportation Platform to support the drop and hook model [4] - The drop and hook model is expected to cut turnaround times by up to 80%, increasing monthly miles per truck from an average of 3,200 miles to 5,000 miles with minimal additional costs [4] - The CEO of SemiCab Holdings expressed optimism about the growth opportunities this collaboration presents, highlighting the competitive advantage it will provide in the Indian market [3][5] Industry Context - The drop and hook model, while widely adopted in the United States, has faced challenges in India due to infrastructure and operational constraints, which SemiCab aims to overcome [3] - The expansion of services and the introduction of the drop and hook model are expected to set a precedent for other companies within the National Digital Freight Exchange (NDFE) in India [5] - SemiCab's AI-enabled platform is designed to optimize logistics and distribution, addressing common supply-chain issues faced by major retailers and brands globally [7]

Core Insights - Algorhythm Holdings, Inc. announced that its subsidiary, SemiCab India, has signed four new pilot agreements and four contract expansions with eight enterprise-scale customers in India, enhancing its market position [1][2][3] Group 1: Company Developments - SemiCab India will provide enterprise-level shipping services through its AI-powered, cloud-based Collaborative Transportation Platform, reinforcing its role as a preferred partner for high-volume shippers in India [2][4] - The expanded contracts involve major multinational FMCG, industrial, and automotive companies, with services expected to commence in June 2025 [3][6] - SemiCab India currently operates a fleet of over 140 trucks and plans to expand to more than 1,000 vehicles by the end of 2025 to meet increasing demand [3][6] Group 2: Market Potential - The Indian freight transportation market, valued at $140 billion, is projected to grow to $240 billion by 2029, indicating significant growth opportunities for logistics companies [3][6] - Demand for long-haul truckload transportation in India is increasing, presenting opportunities for technology-led efficiency gains [4][6] - The new contracts are expected to increase SemiCab India's annualized revenue run rate by over 400% compared to Q1 2025 levels, highlighting the financial impact of these agreements [6]

Core Insights - Algorhythm Holdings, Inc. reported a net loss of $9.2 million for Q1 2025, a significant increase from a net loss of $2.4 million in Q1 2024, primarily due to a $6.4 million increase in non-cash expenses related to warrants [6][7][24] - The company generated revenue of $2.0 million in Q1 2025, down from $2.4 million in the same period last year, attributed mainly to lower sales in its karaoke business [5][6] - The acquisition of SemiCab India is expected to positively impact revenue, with an annualized revenue run rate projected to double by year-end [4][5] Financial Performance - Revenue for Q1 2025 was $2.0 million, a decrease of 16.7% from $2.4 million in Q1 2024 [5][6] - Gross profit margin increased to 25.1%, up from 20.7% in the prior year, with gross profit remaining relatively stable at $0.5 million [6][23] - Operating loss increased to $2.8 million in Q1 2025 from $2.3 million in Q1 2024, while adjusted net loss was $3.2 million compared to $2.4 million in the previous year [6][7][24] Business Developments - The acquisition of SemiCab India, which operates an AI-enabled transportation platform, is a strategic pivot for the company into AI logistics services [4][14] - SemiCab India is currently generating an annualized revenue run rate of $4.6 million, with potential to quadruple this figure to over $23 million by the second half of 2025 [4] - The company plans to expand its fleet to over 1,000 vehicles by the end of 2025 to meet increasing demand [4] Balance Sheet Highlights - As of March 31, 2025, the company had cash on hand of $3.3 million, down from $7.6 million at the end of 2024 [6][20] - Total assets decreased to $10.5 million from $18.3 million at the end of 2024, while total liabilities also decreased to $7.1 million from $28.8 million [20][21] - The company reported a significant reduction in inventory by 14%, from $2.2 million at the end of 2024 to $1.9 million [6][21]