Algorhythm Holdings Reports Second Quarter 2026 Financial Results

About this update from Algorhythm Holdings, Inc.

Revenue Increases 25% Sequentially and 161% YOY to $3.0 Million  Fort Lauderdale, FL, Aug. 14, 2026 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (the "Company") (NASDAQ: RIME) – a leading provider of AI-powered logistics solutions, today announced its financial results for the second quarter ended June 30, 2026. Q2 2026 Financial Highlights Q2 2026 Business Highlights During the quarter, the Company's business continued to execute on numerous fronts as follows: CEO Commentary "We are pleased with our second quarter financial results, highlighted by continued strong sequential and year-over-year revenue growth," said Gary Atkinson, Chief Executive Officer of Algorhythm Holdings. "Revenue was $3.0 million for the quarter, representing an increase of 25% sequentially and 161% year over year. We continue to maintain a strong balance sheet with more than $6 million in cash on the books and almost $3.3 million of stockholders' equity." "During the quarter, we signed a new master services agreement with Onida Electronics and expanded our relationship with Procter & Gamble India, providing us with additional validation for our SemiCab technology platform," continued Mr. Atkinson. "We also engaged in a variety of public networking events, showcasing our Apex SaaS product offering as a Gold Sponsor at Reuters Events: Supply Chain USA 2026 and hosting our inaugural SemiCab Freight Network Forum." "Looking ahead, our focus will be on financial discipline," added Mr. Atkinson. "We will be focused on controlling our costs and reducing our expenses where we can as we continue to evaluate business and acquisition opportunities that we believe will enhance long-term shareholder value. We are excited about what the future holds for Algorhythm Holdings." About Algorhythm Holdings Algorhythm Holdings, Inc. is a leading AI technology company that owns and operates SemiCab. Since 2020, SemiCab has enabled major retailers, brands and transportation providers to address 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, distributo...

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