Algorhythm Holdings Provides Mid-Year Business Recap and Goals for Remainder of Year

About this update from Algorhythm Holdings, Inc.

Fort Lauderdale, FL, July 07, 2026 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. ("Algorhythm") (NASDAQ: RIME ), a leading provider of AI-powered logistics solutions, today provided a summary of the milestones it achieved during the first half of 2026, and an overview of what it will be focused on accomplishing during the remainder of the year. Algorhythm's flagship platform, SemiCab continued to experience market adoption from new brands including Coca Cola India and Onida Electronics and expanded contracts with existing customers including Apollo Tyres, Unilever India and Proctor & Gamble India. These companies are using SemiCab's AI-enabled global freight optimization platform to efficiently and effectively complete shipments across key domestic transportation lanes in India. While SemiCab continued to thrive in India, the company made significant progress with market penetration efforts for its SemiCab Apex SaaS offering in the U.S. In March, the Company hired Jonthan Miller as VP of Sales to spearhead its business development efforts. Mr. Miller brings almost 30 years of logistics and freight technology leadership experience including senior roles at DAT Freight & Analytics, FourKites, GT Nexus, E2open, One Network, and i2 Technologies. In an effort to bolster its public profile within the logistics and freight communities, SemiCab launched the Freight Network Forum, a new online series for senior freight, logistics, and supply chain leaders that examines the structural forces reshaping freight networks, and recently attended Reuters Events: Supply Chain USA 2026 in Chicago as a Gold Sponsor. SemiCab also contributed to key trade publications including Total Retail , Procurement Magazine and Food Digital Magazine. Additionally, Algorhythm CEO Gary Atkinson spoke to the broader adoption of and market potential for AI technology in logistics with appearances on Fox Business and Bloomberg TV , while SemiCab CEO Ajesh Kapoor did the same on Nasdaq TV ( TradeTalks). On the financial front, Algorhythm significantly strengthened its cash position during the first half of 2026, completing a $9.5 million capital infusion in February. Additionally, the company continued to generate strong revenue growth, reflecting both increased customer demand and network scale. Algorhythm achieved a $12 million annualized revenue run rate (ARR) during March 2026, representing a more than 20% increase over the $10 million ARR that it attained during December 2025, and generated first quarter revenue growth of more than 71% sequentially and more than 1,800% year-over-year.

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