Algorhythm Holdings Announces Major Fleet Expansion for SemiCab India
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) ha annunciato una significativa espansione della capacità della flotta della sua controllata SemiCab India grazie a nuovi accordi di servizi di trasporto con vettori FTL nel primo trimestre del 2025. L'azienda ha portato la flotta attiva a 140 camion, con la possibilità di aggiungerne altri 450 tramite contratti in essere. SemiCab India prevede di espandersi ulteriormente fino a oltre 1.000 camion entro la fine del 2025 grazie a nuove collaborazioni con vettori.
L'espansione mira a soddisfare la crescente domanda da parte dei clienti FMCG, con ogni camion FTL a lunga percorrenza che genera circa 40.000 dollari di ricavi annui dal trasporto. Grazie ai contratti attuali con i fornitori che consentono una flotta di 590 camion, SemiCab India ha il potenziale di aumentare il suo fatturato annualizzato da 4,6 milioni a oltre 23 milioni di dollari nella seconda metà del 2025, a seconda della domanda.
Algorhythm Holdings (NASDAQ: RIME) anunció una importante expansión de la capacidad de la flota de su subsidiaria SemiCab India mediante nuevos acuerdos de servicios de transporte con operadores FTL en el primer trimestre de 2025. La compañía ha incrementado su flota activa a 140 camiones, con derechos para añadir 450 camiones más a través de contratos vigentes. SemiCab India espera expandirse aún más a más de 1,000 camiones para finales de 2025 mediante nuevas relaciones con transportistas.
La expansión tiene como objetivo satisfacer la creciente demanda de clientes FMCG, con cada camión FTL de larga distancia generando aproximadamente 40,000 dólares en ingresos anuales por flete. Con los contratos actuales con proveedores que permiten una flota de 590 camiones, SemiCab India tiene el potencial de aumentar sus ingresos anualizados de 4.6 millones a más de 23 millones de dólares en la segunda mitad de 2025, dependiendo de la demanda.
Algorhythm Holdings (NASDAQ: RIME)는 2025년 1분기에 FTL 운송업체와의 새로운 화물 서비스 계약을 통해 자회사 SemiCab India의 차량 운용 능력을 크게 확장했다고 발표했습니다. 회사는 현재 140대의 트럭을 운영 중이며, 기존 계약을 통해 최대 450대의 트럭을 추가할 권리를 보유하고 있습니다. SemiCab India는 2025년 말까지 새로운 운송업체와의 협력을 통해 1,000대 이상의 트럭으로 확장할 계획입니다.
이번 확장은 FMCG 고객의 증가하는 수요를 충족하기 위한 것으로, 장거리 FTL 트럭 한 대당 연간 약 40,000달러의 화물 수익을 창출합니다. 현재 공급업체 계약으로 590대의 트럭 운용이 가능하며, SemiCab India는 수요에 따라 2025년 하반기에 연간 수익을 460만 달러에서 2,300만 달러 이상으로 늘릴 잠재력을 가지고 있습니다.
Algorhythm Holdings (NASDAQ : RIME) a annoncé une expansion significative de la capacité de sa filiale SemiCab India grâce à de nouveaux accords de services de fret avec des transporteurs FTL au premier trimestre 2025. La société a porté sa flotte active à 140 camions, avec la possibilité d'ajouter 450 camions supplémentaires grâce aux contrats en cours. SemiCab India prévoit de s'étendre davantage à plus de 1 000 camions d'ici la fin 2025 grâce à de nouvelles relations avec des transporteurs.
Cette expansion vise à répondre à la demande croissante des clients FMCG, chaque camion FTL longue distance générant environ 40 000 dollars de revenus annuels de fret. Avec les contrats actuels permettant une flotte de 590 camions, SemiCab India a le potentiel d'augmenter son chiffre d'affaires annualisé de 4,6 millions à plus de 23 millions de dollars au second semestre 2025, selon la demande.
Algorhythm Holdings (NASDAQ: RIME) gab eine bedeutende Erweiterung der Flottenkapazität seiner Tochtergesellschaft SemiCab India durch neue Frachtservicevereinbarungen mit FTL-Spediteuren im ersten Quartal 2025 bekannt. Das Unternehmen hat seine aktive Flotte auf 140 Lastwagen erhöht und besitzt durch bestehende Verträge das Recht, weitere 450 Lastwagen hinzuzufügen. SemiCab India plant, bis Ende 2025 durch neue Partnerschaften mit Spediteuren auf über 1.000 Lastwagen zu wachsen.
Die Expansion zielt darauf ab, die wachsende Nachfrage von FMCG-Kunden zu bedienen, wobei jeder Langstrecken-FTL-Lastwagen etwa 40.000 US-Dollar Jahresfrachtumsatz generiert. Mit den aktuellen Lieferantenverträgen, die eine Flotte von 590 Lastwagen ermöglichen, hat SemiCab India das Potenzial, den Jahresumsatz im zweiten Halbjahr 2025 von 4,6 Millionen auf über 23 Millionen US-Dollar zu steigern, abhängig von der Nachfrage.
- Fleet expansion potential from 140 to 590 trucks through existing contracts
- Revenue potential increase from $4.6M to $23M annually in H2 2025
- Additional pipeline of 1,000 trucks expected by end of 2025
- Successful transition of pilot customers to full-scale commercial contracts
- Revenue growth dependent on demand materialization
- Significant fleet expansion execution risk
Insights
SemiCab India's fleet expansion to 590 trucks could quadruple revenue to $23M, indicating promising growth in India's logistics market.
SemiCab India's strategic fleet expansion represents a significant scaling milestone in the competitive Indian logistics market. The company has increased its active fleet to 140 trucks with contractual rights to add an additional 450 vehicles, positioning them to potentially quadruple revenue from $4.6M to $23M annually. What's particularly noteworthy is the timing of this expansion, which aligns with SemiCab's transition from pilot programs to full commercial contracts with multinational FMCG shippers.
The economics here are compelling. At $40,000 annual revenue per truck, SemiCab's model leverages asset-light network expansion through freight service agreements rather than capital-intensive fleet ownership. This approach optimizes capital efficiency while creating flexibility to scale with demand. The additional 1,000 trucks in the pipeline for H2 2025 indicates strong customer demand and suggests the initial expansion is performing well.
The India logistics market presents unique challenges including fragmentation, infrastructure limitations, and complex distribution networks. SemiCab's cloud-based Collaborative Transportation Platform addresses these issues by optimizing capacity utilization across multiple carriers. This network effect becomes more valuable as the fleet expands, potentially creating a competitive moat if executed properly. The focus on FMCG customers is strategic, as these clients typically have consistent, predictable shipping needs that can provide baseline utilization while the network scales.
SemiCab India Adds Additional Truck Capacity with Expansion to Generate Up to
Fort Lauderdale, FL, May 13, 2025 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (“Algorhythm”) (NASDAQ: RIME) – an AI technology and consumer electronics holding company, today provided an operational update for its SemiCab AI logistics and distribution business (“SemiCab”).
SMCB Solutions Private Limited (“SemiCab India”), Algorhythm’s subsidiary that operates SemiCab’s cloud-based Collaborative Transportation Platform in the Indian market, entered into a series of freight services agreements with several full truckload (FTL) carriers during Q1 2025. These transactions expanded SemiCab India’s active fleet to over 140 trucks, with rights to expand its fleet by an additional 450 trucks through current contracts. An additional 1,000 trucks are in the pipeline from contractual relationships with new FTL carriers that are expected to close during the second half of 2025 as demand continues to rise.
This expansion is aimed at securing reliable truck access to meet growing demand from fast-moving consumer packaged goods (FMCG) customers. The dedicated fleet is expected to significantly enhance the Company’s ability to service future volume from its large, scaling contracts with multinational shippers across India.
“We’re seeing meaningful traction in India as pilot customers transition to full-scale commercial contracts,” said Ajesh Kapoor, CEO of SemiCab. “Expanding the active fleet to 140 trucks with immediate access to an additional 450 trucks provides SemiCab India with the ability to quadruple its annualized revenue run rate from approximately
Each long-haul FTL truck in India generates approximately
About Algorhythm Holdings
Algorhythm Holdings, Inc. is an AI technology and consumer electronics holding company with two primary business units – SemiCab and Singing Machine.
SemiCab is 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
Singing Machine is the worldwide leader in consumer karaoke products. Based in Fort Lauderdale, Florida, and founded over forty years ago, it designs and distributes the industry's widest assortment of at-home and in-car karaoke entertainment products. Its product portfolio is marketed under both proprietary brands and popular licenses, including Carpool Karaoke and Sesame Street. Singing Machine products incorporate the latest technology and provide access to over 100,000 songs for streaming through its mobile app and select WiFi-capable products and is also developing the world’s first globally available, fully integrated in-car karaoke system. Its products are sold in over 25,000 locations worldwide, including Amazon, Costco, Sam’s Club, Target, and Walmart.
For additional information, please go to www.singingmachine.com.
Investor Relations Contact:
investors@algoholdings.com
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.
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