Algorhythm Holdings, Inc. SEC 10-Q Report

Algorhythm Holdings, Inc., a company specializing in AI-enabled software logistics and home karaoke consumer products, has released its Form 10-Q report for the second quarter of 2025. The report highlights significant improvements in financial performance and operational focus, particularly driven by the growth of its SemiCab business.

Financial Highlights

Net Sales: $2.716 million for the three-month period ended June 30, 2025, compared to $2.440 million for the same period in 2024, primarily due to net sales generated by the SemiCab business.

Gross Profit: $0.954 million for the three-month period ended June 30, 2025, compared to $0.324 million for the same period in 2024, reflecting an increase in gross profit margin from 13.3% to 35.1%.

Loss from Operations: $(0.782) million for the three-month period ended June 30, 2025, compared to $(6.154) million for the same period in 2024, primarily due to a decrease in operating lease impairment expenses.

Net Loss Available to Common Shareholders: $(0.585) million, or $(0.24) per share, for the three-month period ended June 30, 2025, compared to $(6.119) million, or $(190.68) per share, for the same period in 2024.

Net Loss: $(0.809) million for the three-month period ended June 30, 2025, compared to $(6.119) million for the same period in 2024, reflecting improved financial performance.

Business Highlights

Revenue Segments: The company operates two reportable segments: SemiCab, an AI-enabled software logistics business, and Singing Machine, a home karaoke consumer products business. Revenue from the SemiCab segment contributed significantly to the overall revenue, with logistics services generating $1,152,000 for the three months ended June 30, 2025.

Geographical Performance: The company reported revenue from various geographical regions, with North America contributing $1,410,000 and India generating $1,137,000 for the three months ended June 30, 2025. This indicates a strong performance in these regions, particularly with the expansion of the SemiCab business in India.

Future Outlook: The company expects net sales from the SemiCab business to increase substantially over the next 12 months, driven by a growing customer base in the United States and India. The sale of the Singing Machine business is anticipated to result in a decrease in operating expenses and a focus on the SemiCab segment's growth and development.

SEC Filing: Algorhythm Holdings, Inc. [ RIME ] - 10-Q - Aug. 19, 2025