Algorhythm Holdings (RIME) Company Report

Algorhythm Holdings stockholders approved granting discretionary authority to the Board of Directors to implement a reverse stock split at a ratio between 1-for-2 and 1-for-10 within one year.
The company's reincorporation from Delaware to Nevada by conversion was approved by stockholders.
Stockholders approved increasing the shares authorized for the 2022 equity incentive plan to 5 million and the issuance of common stock to Streeterville Capital, LLC, which may collectively equal or exceed 20% of issued and outstanding shares.
Seven directors were elected, and M&K CPAs was ratified as the independent registered public accounting firm for fiscal year ending December 31, 2025.

Nov 20, 2025, 2:00 PM

Transcript

Algorhythm Holdings Stockholders Approve Reverse Stock Split Authority, Share Issuance, and Reincorporation

RIME

Proxy Vote Outcomes

Share Issuance

Delisting/Listing Issues

Algorhythm Holdings' stockholders approved all seven proposals at the 2025 Annual Meeting, including the election of seven directors.
The Board of Directors was granted discretionary authority to effect a reverse stock split at a ratio between 1-for-2 and 1-for-10 within one year.
Stockholders approved an amendment to the 2022 equity incentive plan, increasing authorized shares for issuance to 5 million, and the issuance of common stock to Streeterville Capital, LLC, which may collectively equal or exceed 20% of issued and outstanding shares.
The reincorporation of the company from the State of Delaware to the State of Nevada by conversion was also approved.

Nov 20, 2025, 2:00 PM

Transcript

Algorhythm Holdings Stockholders Approve Reverse Split, Reincorporation, and Share Issuance

RIME

Proxy Vote Outcomes

Algorhythm Holdings' stockholders approved a reverse stock split with a ratio between 1-for-2 and 1-for-10, to be determined by the Board of Directors and implemented within one year.
Stockholders also approved the reincorporation of the company from the State of Delaware to the State of Nevada by conversion.
The company received approval to increase the number of shares authorized for its 2022 equity incentive plan to 5 million and to issue common stock to Streeterville Capital, LLC, for prepaid financing transactions that may collectively equal or exceed 20% of issued and outstanding shares.

Nov 20, 2025, 2:00 PM

Transcript

Algorhythm Holdings Reports Q3 2025 Financial Results and Strategic Transformation

RIME

Earnings

Revenue Acceleration/Inflection

M&A

Algorhythm Holdings, Inc. reported record 1,273% year-over-year revenue growth for the third quarter ended September 30, 2025, with revenue increasing to $1.7 million compared to $0.1 million in the prior year period.
The company's net loss from continuing operations decreased to $1.9 million in Q3 2025, down from $2.1 million in Q3 2024, and it held $2.8 million in cash as of September 30, 2025.
Algorhythm completed the sale of its legacy Singing Machine business, transforming into an AI distribution and logistics company.
Its subsidiary, SemiCab, launched "Apex," a new software-as-a-service (SaaS) platform, aimed at the U.S. full-truckload market.
Jay B. Foreman resigned from the Board of Directors and its committees, effective November 14, 2025.

Nov 19, 2025, 9:30 PM

8-K

Algorhythm Holdings Reports Q3 2025 Results and Launches SemiCab APEX

RIME

Earnings

Product Launch

Revenue Acceleration/Inflection

Algorhythm Holdings has completed the sale of its legacy Singing Machine business, transitioning to a Technology-first Organization focused on AI-driven logistics through SemiCab.
For Q3 2025, revenue increased to $1.7 million, representing a 1,300% year-over-year increase and an annualized run rate of approximately $7 million. The company expects Q4 2025 revenue to be around $2 million and projects an annualized run rate of $15 million to $20 million by the end of next year.
The company launched SemiCab APEX, a new high-margin SaaS platform for the U.S. and global markets, which is expected to significantly improve blended company margins and profitability due to its rapid scalability and lack of physical freight operations.
Net loss for Q3 2025 decreased to $1.8 million from $2.1 million last year, primarily due to cost reduction measures, and is expected to remain at similar levels over the next 12 months.

Nov 19, 2025, 3:00 PM

Transcript

Algorhythm Holdings Reports Q3 2025 Results, Highlights Semicab Growth and SaaS Product Launch

RIME

Earnings

Guidance Update

Product Launch

Algorhythm Holdings completed the sale of its legacy Singing Machine business, officially transitioning to focus solely on its AI-driven logistics technology company, Semicab.
For the third quarter of 2025, revenue increased to $1.7 million from $100,000 in the prior year, primarily due to the acquisition of Semicab India. The company expects Q4 revenue of around $2 million and projects Semicab's annualized revenue run rate to increase to between $15 million and $20 million by the end of next year.
Gross loss for Q3 2025 increased to $351,000, resulting in a gross margin of -20%, while net loss decreased to $1.8 million. The company anticipates gross loss to decrease and net loss to remain at similar levels over the next 12 months.
The company launched Semicab APEX, a new high-margin SaaS platform for the U.S. and global markets, which is expected to significantly improve blended company margins and strengthen overall profitability due to its 90%-95% gross margins and rapid scalability.

Nov 19, 2025, 3:00 PM

Transcript

Algorhythm Holdings Reports Q3 2025 Financial Results and Launches Semicab APEX SaaS Platform

RIME

Earnings

Product Launch

Revenue Acceleration/Inflection

Algorhythm Holdings reported a 1,300% year-over-year revenue increase to $1.7 million for the three months ended September 30, 2025, primarily driven by the acquisition of Semicab India. The company's current annualized revenue run rate is approximately $7 million, with expectations to grow to between $15 million and $20 million by the end of next year.
The company's net loss for Q3 2025 decreased to $1.8 million from $2.1 million last year, while the gross margin percentage was -20%.
Algorhythm Holdings launched Semicab APEX, a new high-margin SaaS platform for the U.S. and global markets, which is expected to significantly improve blended company margins and strengthen overall profitability due to its 90%-95% gross margins and rapid scalability.

Nov 19, 2025, 3:00 PM

Transcript

Algorhythm Holdings, Inc. enters into $20M pre-paid purchase agreement

RIME

Debt Issuance

New Projects/Investments

Algorhythm Holdings, Inc. entered into a Securities Purchase Agreement with Streeterville Capital, LLC on August 21, 2025, establishing a pre-paid purchase facility for up to $20,000,000.
An initial pre-paid purchase with a principal amount of $4,390,000 was made, providing $4,000,000 in proceeds to the company after an original issue discount of $360,000 and $30,000 in transaction expenses. This initial purchase accrues interest at 9% per annum and has a three-year maturity.
As a commitment fee for the facility, 95,694 common shares were issued to the Investor. The company also agreed to file a registration statement within 30 days of closing to register the resale of these shares and those issuable under the pre-paid purchases.
The agreement includes a two-year commitment period during which the company may request additional pre-paid purchases, each accruing interest at 9% per annum and carrying a 9% original issue discount.
The company must obtain stockholder approval within 75 days of closing to issue shares exceeding the Nasdaq Listing Rule 5635(d) threshold, and will continue seeking approval every 90 days thereafter until obtained.