Algorhythm Holdings Reports Second Quarter 2025 Financial Results

About this update from Algorhythm Holdings, Inc.

Fort Lauderdale, FL, Aug. 20, 2025 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (“Algorhythm”) (NASDAQ: RIME ) – an AI technology holding company, announced today its results of operations for the second quarter ended June 30, 2025. Second Quarter Financial Highlights: Second Quarter Business Highlights: Algorhythm had a breakthrough quarter, marked by several major accomplishments since the beginning of the quarter. Most notable were the following: “Our second quarter was marked by the achievement of several milestones that built upon the momentum that we gathered during our first quarter,” stated Gary Atkinson, Chief Executive Officer of Algorhythm. “With the acquisition of SemiCab India and the sale of our Singing Machine business, we transformed Algorhythm Holdings into a high-growth, technology-focused AI distribution and logistics company while significantly reducing our cash burn and strengthening our balance sheet.” Mr. Atkinson continued, “We are now a people-light, asset-light, nimble and a cutting-edge technology company serving some of the largest consumer packaged goods companies in the world. Our SemiCab business has grown almost 300% from an annualized revenue run rate (ARR) of approximately $2 million in January to more than $7 million today, and is still quickly growing. We plan to develop our pipeline of pending contracts with new transporters to grow our fleet to over 1,000 vehicles by the end of 2025 to keep pace with demand. As more shippers and carriers join our platform, the flywheel begins to spin—network effects grow, and opportunities to optimize truck utilization multiply, unlocking significant value.” Q2 2025 Financial Summary “Revenue for Q2 increased to $2.7 million, up from $2.4 million in the same period last year, driven primarily by the contribution from our SemiCab India acquisition, even for a partial quarter,” said Alex Andre, Chief Financial Officer of Algorhythm. “Net loss improved dramatically to $0.8 million, compared to a net loss of $6.1 million last year, reflecting a $3.9 million reduction in operating lease impairment and lower general and administrative expenses,” Mr. Andre continued. “We expect net loss to continue trending lower over the next 12 months, primarily due to the sale of Singing Machine and the corresponding reduction in operating expenses which will be partially offset by strategic investments to accelerate growth in our SemiCab business.” Conference Call Details: Date: Wednesday, August 20, 2025 Time: 10:00 a.m. EDT Dial-in number: 888-999-3182 Conference ID: RIME An audio rebroadcast of the call will be available later in the day at: https://ir.algoholdings.com About Algorhythm Holdings Algorhythm Holdings, Inc. is an AI technology company focused on the growth and development of SemiCab, an emerging leader in the global logistics and distribution industry. Since 2020, SemiCab has enabled major retailers, brands and transportation providers to address these common supply-chain problems globally. Its AI-enabled, cloud-based Collaborative Transportation Platform achieves the scalability required to predict and optimize millions of loads and hundreds of thousands of trucks. SemiCab uses real-time data from API-based load tendering and pre-built integrations with TMS and ELD partners to orchestrate collaboration across manufacturers, retailers, distributors, and their carriers. SemiCab uses AI/ML predictions and advanced predictive optimization models to enable fully loaded round trips. With SemiCab’s AI platform, shippers pay less and carriers make more without having to change a thing. For additional information, please go to: http://www.semicab.com Investor Relations Contact: Brendan Hopkins 407-645-5295 [email protected]   www.algoholdings.com Forward Looking Statements This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in Algorhythm’s reports to the SEC, including, without limitation Algorhythm’s Annual Report on Form 10-K for the year ended December 31, 2024. You should not place undue reliance on any forward-looking statement, each of which applies only as of the date of this press release. Except as required by law, we undertake no obligation to update or revise publicly any of the forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations, or as a result of new information, future events or otherwise. Algorhythm Holdings, Inc. and Subsidiaries CONDENSED CONSOLIDATED BALANCE SHEETS Algorhythm Holdings, Inc. and Subsidiaries CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (Unaudited) Algorhythm Holdings, Inc. and Subsidiaries CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited)

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