Algorhythm Holdings, Inc.

Listed Company

RIMECIK 0000923601NasdaqNon-AcceleratedSmaller ReportingServices-Computer Integrated Systems DesignDelawareFY ends Dec 31

Period

FY 2025

Revenue

$4.39M

Net Income

$-15.87M

Total Assets

$12.72M

Equity

$-1.86M

Shares Out

14.65M

Op. Cash Flow

$-7.31M

Business

Algorhythm Holdings, Inc. is an AI technology and consumer electronics holding company operating two primary business units. It develops and sells consumer karaoke audio equipment, accessories and music subscriptions under the Singing Machine brand and provides AI-enabled logistics, transportation services and SaaS platform subscriptions through SemiCab. Its key business segments are Singing Machine (product design, manufacturing sourcing and retail/ecommerce distribution) and SemiCab (collaborative transportation platform, load orchestration and transportation execution). Products and services are sold globally to retailers, distributors and direct consumers, while SemiCab targets U.S. shippers, brokers and resellers for SaaS and transportation contracts.

Summary from filing dated 2025-04-15

Financials

Consolidated Statement of Income

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Net Sales	4	297,000	39	48	46
Cost of Sales	6	491,000	30	37	34
Gross Loss	−1	−194,000	9	11	12
Selling expenses	4,000	—	3	4	4
General and administrative expenses	7	5	9	7	7
Impairment of goodwill	—	4	—	—	—
Total Operating Expenses	7	8	13	11	11
Loss From Operations	−8	−8	−4	69,235	1
Change in fair value of warrant liability	−6	334,000	—	—	—
Loss on issuance of warrants	—	−9	—	—	—
Interest expense, net	−747,000	−2	—	—	—
Total Other Expenses	−7	−10	—	—	—
Loss From Continuing Operations Before Income Tax	−15	−19	−4	287,775	3
Income tax loss attributable to continuing operations	−47,000	—	−1	−57,304	−500,000
Net Loss From Continuing Operations	−15	−19	—	—	—
Net loss from discontinued operations	−1	−5	—	—	—
Net Loss	−17	−24	—	—	—
Net loss attributable to non-controlling interest	701,000	1	—	—	—
Net Loss Available to Common Shareholders	−16	−23	−5	230,471	2
Loss per Common Share, Basic from continuing operations	−5.86	−270.44	—	—	—
Loss per Common Share, Diluted from continuing operations	−5.86	−270.44	—	—	—
Loss per Common Share, Basic from discontinued operations	−0.55	−83.43	—	—	—
Loss per Common Share, Diluted from discontinued operations	−0.55	−83.43	—	—	—
Loss per Common Share Basic	−6.41	−353.87	−1.65	0.14	1.68
Loss per Common Share Diluted	−6.41	−353.87	−1.65	0.14	1.67
Weighted Average Common and Common Equivalent Shares: Basic	2	65,722	3	2	1
Weighted Average Common and Common Equivalent Shares: Diluted	2	65,722	3	2	1

Consolidated Balance Sheet

As of · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-12-31	FY 2023 2023-03-31	FY 2022 2022-03-31
Cash	2	7	7	—	—
Restricted cash	5	—	—	—	—
Prepaid expenses and other current assets	729,000	59,000	136,000	266,068	344,409
Current assets of discontinued operations	—	9	—	—	—
Total Current Assets	8	17	23	15	20
Property and equipment, net	22,000	2,000	404,000	633,207	565,094
Other non-current assets	79,000	—	179,000	124,212	86,441
Intangible assets, net	2	345,000	—	—	—
Goodwill	3	786,000	0	—	—
Non-current assets of discontinued operations	0	406,000	—	—	—
Total Assets	13	18	28	17	23
Accounts payable	1	387,000	8	2	5
Accrued expenses	2	2	3	2	2
Other current liabilities	69,000	—	159,000	—	—
Warrant liability	—	17	—	—	—
Promissory notes payable, net	9	50,000	—	—	—
Current liabilities of discontinued operations	—	9	—	—	—
Total Current Liabilities	14	28	16	6	12
Long-term provision for employee benefits	144,000	—	—	—	—
Total Liabilities	15	29	20	6	13
Commitments and Contingencies	—	—	—	—	—
Preferred stock, $1.00 par value; 1,000,000 shares authorized; no shares issued and outstanding at December 31, 2025 and December 31, 2024	—	—	—	—	—
Common stock, $0.01 par value; 800,000,000 and 100,000,000 shares authorized; 3,414,542 and 470,825 shares issued and outstanding at December 31, 2025 and December 31, 2024	35,000	5,000	—	31,675	12,212
Additional paid-in capital	66	40	33	30	25
Accumulated other comprehensive loss	−25,000	—	—	—	—
Accumulated deficit	−65	−49	−26	−20	−15
Non-controlling interest	−2	−1	—	—	—
Treasury stock, 10,990 and -0- shares reserved at December 31, 2025 and December 31, 2024	−758,000	—	—	—	—
Total Shareholders Deficit	−2	−11	8	10	—
Total Liabilities and Shareholders Deficit	13	18	28	17	23

Consolidated Statement of Cash Flows

Year Ended · In millions, except per-share amounts

Concept	FY 2025 2025-12-31	FY 2024 2024-12-31	FY 2023 2023-03-31	FY 2022 2022-03-31	FY 2021 2021-03-31
Net foreign currency translation adjustment	−31,000	—	—	—	—
Depreciation and amortization of property and equipment and intangible assets	249,000	30,000	—	—	—
Amortization of debt discount and issuance cost	212,000	2	—	—	—
Reduction in SMCB loan in exchange for services	304,000	637,000	—	—	—
Loss on allowance for credit loss	—	439,000	—	—	—
Stock-based compensation	434,000	630,000	381,826	44,287	22,710
Accounts receivable	−621,000	72,000	666,516	−558,127	−151,500
Prepaid expenses and other current assets	−293,000	−46,000	78,341	−123,338	31,402
Other non-current assets	49,000	14,000	−37,771	60,732	3,336
Accounts payable	654,000	−345,000	−4	3	−3
Accrued expenses	263,000	−199,000	533,069	77,198	130,331
Other current liabilities	69,000	—	—	—	—
Provision for employee benefits	144,000	—	—	—	—
Net cash used in operating activities attributable to continuing operations	−7	−4	—	—	—
Purchase of property and equipment	−14,000	—	−243,729	−117,573	−201,161
Capitalization of internal use software costs	−419,000	—	—	—	—
Repurchase of shares of common stock	−758,000	—	—	—	—
Pre-acquistion advances to SemiCab, Inc.	—	−415,000	—	—	—
Cash received from acquisition of SemiCab, Inc. assets	—	17,000	—	—	—
Cash received from acquisition of SMCB	593,000	—	—	—	—
Advances to SMCB	−1	−2	—	—	—
Net cash used in investing activities attributable to continuing operations	−2	−2	—	—	—
Proceeds from sale of common stock and warrants, net of offering costs	—	13	3	9	—
Proceeds from issuance of senior secured notes, net of discounts	—	2	—	—	—
Proceeds from issuance of promissory notes, net of offering costs and discounts	10	—	—	—	443,900
Payment of senior secured notes and debt issuance costs	—	−3	—	—	—
Payment of promissory notes	−427,000	—	—	—	—
Payment of promissory notes, related parties	−100,000	—	—	—	—
Payments on merchant cash advances payable	—	−631,000	—	—	−65,010
Other	—	−75,000	—	—	—
Net cash provided by financing activities attributable to continuing operations	10	12	—	—	—
Net cash used in operating activities attributable to discontinued operations	−3	−5	—	—	—
Net cash provided by investing activities attributable to discontinued operations	845,000	122,000	—	—	—
Net cash provided by financing activities attributable to discontinued operations	—	—	—	—	—
Total cash used in discontinued operations	−2	−5	—	—	—
Net change in cash	−1	530,000	604,091	2	51,379
Cash paid for interest	246,000	591,000	481,425	546,545	461,080
Reclassification of Series A warrants to equity	8	—	—	—	—
Common stock issued for exercise of Series B warrants	15	—	243,901	547,838	—
Issuance of common stock with debt	—	943,000	—	—	—
Repurchase of common shares- related parties	—	758,000	—	—	—
Effect of extinguishment of advances to SemiCab, Inc.	—	415,000	—	—	—
Common stock issued for acquisition of SemiCab, Inc assets	—	568,000	—	—	—
Common stock issued for acquisition of SMCB	316,000	—	—	—	—
Promissory note issued for acquisition of SMCB	2	—	—	—	—
Common stock issued as commitment fee	191,000	—	—	—	—
Common stock issued upon settlement of prepaid purchases	675,000	—	—	—	—
Conversion of promissory note payable into common stock	138,000	—	—	—	—

Filings

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