Algorhythm Holdings Inc Stock Price, News & Analysis

Algorhythm Holdings (NASDAQ: RIME) has appointed Ajesh Kapoor to its board of directors, effective May 19, 2025. Kapoor brings over 30 years of logistics and supply chain technology expertise to the board. He is the Founder and CEO of SemiCab, an AI logistics company recognized as a Gartner Cool Vendor. Previously, he served as VP of Product Management at GT Nexus (acquired by Infor for $675M), Global Head of Supply Chain Advisory Services at Wipro Technologies, and Founder/CTO of GEOCOMtms (acquired by RedPrairie/Blue Yonder). Notably, Algorhythm acquired SemiCab's US business component in July 2024.

Algorhythm Holdings (NASDAQ: RIME) reported its Q1 2025 financial results, showing a decline in revenue to $2.0 million from $2.4 million in Q1 2024. The company's net loss widened to $9.2 million, largely due to $6.4 million in non-cash warrant-related expenses. Despite lower revenue, gross profit margin improved by 4.4% to 25.1%.

The company highlighted its recent acquisition of SMCB Solutions Private Ltd. (SemiCab India), which operates at a $4.6 million annualized revenue run rate and is expected to double by year-end. SemiCab India has expanded its fleet to 140 trucks with access to 450 more, potentially enabling revenue growth to $23 million in H2 2025. Algorhythm aims to grow its fleet to over 1,000 vehicles by end-2025.

While karaoke product sales decreased due to tariff impacts, management expects SemiCab's logistics business to offset these losses. The company ended Q1 with $3.3 million in cash and reduced inventory by 14% to $1.9 million.

Algorhythm Holdings (NASDAQ: RIME), an AI technology and consumer electronics holding company, has scheduled its Q1 2025 earnings release for Thursday, May 15, 2025. The company will follow up with a conference call on Friday, May 16, 2025, at 10:00 a.m. EDT to discuss financial results and provide a business update.

Investors can join the call using the dial-in number 888-999-3182 with Conference ID: RIME. An audio replay will be made available later that day on the company's investor relations website at https://ir.algoholdings.com.

Algorhythm Holdings (NASDAQ: RIME) announced a significant expansion of its SemiCab India subsidiary's fleet capacity through new freight services agreements with FTL carriers in Q1 2025. The company has increased its active fleet to 140 trucks, with rights to add 450 more trucks through current contracts. SemiCab India expects to expand further to over 1,000 trucks by end-2025 through new carrier relationships.

The expansion aims to meet growing demand from FMCG customers, with each long-haul FTL truck generating approximately $40,000 in annual freight revenue. With current supplier contracts enabling a fleet of 590 trucks, SemiCab India has the potential to increase its annualized revenue from $4.6 million to over $23 million in H2 2025, depending on demand.

Algorhythm Holdings (NASDAQ: RIME) has acquired SMCB Solutions Private Ltd. (SemiCab India) for $1.75 million in promissory notes and 119,742 shares of common stock (5% of outstanding shares). SemiCab India has shown impressive growth, more than doubling its annualized revenue run rate from $1.8M to $4.5M since January 2025, with expectations to double again by year-end.

The acquisition provides access to India's $1.3T logistics sector and establishes partnerships with leading FMCG companies. SemiCab's AI platform, selected by the National Digital Freight Exchange (NDFE), delivers significant improvements: increasing freight utilization from 65% to 90%, reducing shipping costs by 10%, boosting trucking capacity by 30%, and cutting carbon emissions by 25%.

Algorhythm Holdings (NASDAQ: RIME) reported its 2024 financial results, showing revenue of $23.5 million compared to $29.2 million in the nine-month period of 2023. The company experienced increased losses, with net loss rising to $24.4 million in 2024 from $6.1 million in 2023.

The company is transforming from a consumer electronics company to an AI-driven logistics company following the acquisition of SemiCab's US business. Key developments include raising over $10 million in capital, reducing inventory by 68%, and maintaining $7.6 million cash on hand. The decrease in revenue was primarily due to reduced karaoke product sales.

Of the 2024 net loss, $16.7 million was attributed to non-cash expenses, including a $3.6 million goodwill impairment charge and an $8.9 million warrant-related charge. The company plans to complete the acquisition of SemiCab India and is evaluating strategic alternatives for its Singing Machine business, including a potential sale.

Algorhythm Holdings (NASDAQ: RIME), an AI-driven technology and consumer electronics holding company, has announced its participation in the 15th Annual LD Micro Invitational Conference. The event will take place at the Westin Grand Central in New York on April 9th and 10th, 2025.

CEO Gary Atkinson will deliver a presentation on April 10, 2025, at 1:30 PM ET in Track 3, followed by one-on-one investor meetings. The LD Micro Invitational is recognized as a premier investor conference that showcases innovative micro- and small-cap companies, providing a platform for networking and strategic discussions.

Algorhythm Holdings (NASDAQ: RIME), an AI-driven technology and consumer electronics holding company, has announced its participation in the upcoming iAccess Alpha Virtual Best Ideas Spring Investment Conference 2025.

The conference will take place on March 25-26, 2025, featuring CEO Gary Atkinson delivering a company presentation on March 25 at 3:00 PM ET, followed by one-on-one meetings with pre-qualified investors on March 26.

Investors can access the live webcast presentation through the dedicated conference link, with a replay available afterward. The presentation materials will also be accessible on Algorhythm's website under the Events and Presentations section.