Company Announces Geographic Expansion of Lanes and Pilot of Drop & Hook Program in Indian FMCG Sector for the First Time Fort Lauderdale, FL, June 04, 2025 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. ("Algorhythm") (NASDAQ: RIME) – an AI technology and consumer electronics holding company, today announced that its subsidiary, SMCB Solutions Private Limited ("SemiCab India"), has been awarded a large expansion to its Master Services Agreement with the Indian subsidiary of the world's third largest consume ...

Fort Lauderdale, FL, June 03, 2025 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (“Algorhythm”) (NASDAQ: RIME), an AI-driven technology and consumer electronics holding company, today announced that its subsidiary, SMCB Solutions Private Limited (“SemiCab India”), has recently signed four new pilot agreements and four contract expansions with eight enterprise-scale customers in India. Under the new and expanded contracts, SemiCab India will provide enterprise-level shipping services through its AI-powered, ...

Algorhythm Holdings (RIME) Q1 2025 Earnings Call May 16, 2025 10:00 AM ET Company Participants Gary Atkinson - CEOAlex Andre - CFO & General Counsel Conference Call Participants Edward Woo - Director of Research & Senior AnalystNone - Analyst Operator Good day, everyone, and welcome to Algorithm Holdings First Quarter twenty twenty five Financial Results Earnings Call. My name is Paul, and I will be your operator. As a reminder, today's call is being recorded. We have a brief safe harbor, and then we'll get ...

Fort Lauderdale, FL, May 16, 2025 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (“Algorhythm”) (NASDAQ: RIME) – an AI technology and consumer electronics holding company, announced today its results of operations for the three-month period ended March 31, 2025. Q1 2025 Financial Highlights Algorhythm reported revenue of $2.0 million for the three months ended March 31, 2025 compared to $2.4 million for the three months ended March 31, 2024. Gross profit margin increased by 4.4% to 25.1% from 20.7% compared ...

Core Viewpoint - Algorhythm Holdings, Inc. is transitioning from a consumer electronics company focused on karaoke products to an AI technology company specializing in freight technology services for the transportation industry [5][10]. Financial Highlights - The company reported revenue of $23.5 million for the year ended December 31, 2024, down from $29.2 million for the nine-month period ended December 31, 2023 [8]. - Gross profit was $4.8 million for the year ended December 31, 2024, compared to $6.2 million for the nine-month period ended December 31, 2023, with gross margins of 20.4% and 21.2% respectively [8]. - Loss from operations increased to $13.9 million for the year ended December 31, 2024, compared to $6.1 million for the nine-month period ended December 31, 2023 [8]. - Net loss rose to $24.4 million for the year ended December 31, 2024, compared to $6.1 million for the nine-month period ended December 31, 2023 [8]. - Adjusted net loss was $7.6 million for the year ended December 31, 2024, compared to $2.6 million for the nine-month period ended December 31, 2023 [8]. - Inventory was reduced by 68%, from $6.9 million as of December 31, 2023, to $2.2 million as of December 31, 2024 [8]. - Cash on hand increased to $7.6 million as of December 31, 2024 [8]. Strategic Developments - The company acquired the United States business of SemiCab, Inc., an AI-driven logistics company, to enter the AI space [9]. - Significant corporate actions were taken, including a name change to Algorhythm Holdings and raising over $10 million in capital to pay off liabilities and support growth [9]. - The company plans to complete the acquisition of SemiCab India, which has secured notable pilot contracts, contributing to revenue growth [6][9]. Future Outlook - The company anticipates growth in its SemiCab business, expecting increased revenue from its customer base in the U.S. and the integration of SemiCab India [10][11]. - There is an evaluation of strategic alternatives for the Singing Machine business, including a potential sale, as the focus shifts to AI logistics and distribution [11].