Algorhythm Holdings Posts Record Q1

Algorhythm Holdings said on May 14 that first-quarter revenue rose to a record $2.4 million, as the Fort Lauderdale, Florida-based company posted its latest quarterly results. The Nasdaq-listed company, which trades under the ticker RIME, said revenue increased 71% from the previous quarter’s $1.4 million. Algorhythm described itself as a provider of AI-powered logistics solutions in the earnings release, and its corporate website says its flagship investment is SemiCab. The company’s latest results also showed cash and restricted cash of $10.9 million at March 31. ### How big was the quarter in dollar terms? Revenue of $2.4 million was the headline figure in the company’s first-quarter release. Algorhythm said that was its highest revenue since becoming a pure-play AI technology company, and the release compared the result with $1.4 million in the quarter ended Dec. 31, 2025. MarketBeat’s earnings summary also listed reported revenue of $2.4 million against an expected $2.0 million. (markets.businessinsider.com) Yahoo Finance’s earnings-call summary said first-quarter net sales were up 1,850% from a year earlier. The same summary said management linked the increase to the SemiCab India acquisition and customer growth. Reuters-style caution is warranted here: those drivers came from management’s discussion on the call, not from an independent third party. (markets.businessinsider.com) ### What business is driving the numbers? SemiCab was the operating business named across company materials tied to the quarter. Algorhythm’s website identifies SemiCab as its flagship investment, while Yahoo Finance’s company profile says the business uses data integrations and predictive optimization to coordinate logistics networks and improve truck utilization. The May 14 earnings materials pointed to India as a key operating market. (finance.yahoo.com) Yahoo Finance’s call summary said the quarter included 5,716 loads delivered across 14 customers, and management said growth was tied to the SemiCab India acquisition and expansion in managed services. Those figures came from the earnings call transcript summaries published by finance sites. (algoholdings.com) ### What else did the company report besides revenue? Cash and restricted cash totaled $10.9 million at March 31, according to the earnings release. StockTitan’s summary of the release said net loss narrowed to $5.4 million and total assets reached $18.5 million, while stockholders’ equity turned positive at $3.2 million. Those figures matter because Algorhythm had previously disclosed a Nasdaq compliance issue tied to stockholders’ equity. (finance.yahoo.com) A November 28, 2025 SEC filing said Nasdaq notified Algorhythm that its stockholders’ equity of $100,000 as of Sept. 30, 2025 fell below the $2.5 million minimum under Listing Rule 5550(b)(1). StockTitan’s summary of the May 14 release said first-quarter stockholders’ equity was above that threshold at $3.2 million, though investors would still look to future SEC filings for the company’s formal compliance status. (finviz.com) ### How has Algorhythm financed itself while scaling? A February 17, 2026 SEC filing said Algorhythm entered into a fourth secured pre-paid purchase with Streeterville Capital under an existing securities purchase agreement. The filing said the fourth transaction had a principal amount of $10.355 million before deducting an original issue discount of $855,000, and it sat within an aggregate purchase framework of up to $20 million. (sec.gov) The company’s earnings materials said it had raised $9.5 million under that financing facility. That funding, together with the quarter-end cash balance, gave investors a clearer picture of how Algorhythm was supporting operations while it pursued growth in its logistics software business. (sec.gov) ### What comes next after this quarter? May 14 was also the date of Algorhythm’s first-quarter earnings call, with Chief Executive Officer Gary Atkinson and Chief Financial Officer Alex Andre listed as participants in transcript summaries. Yahoo Finance’s call summary said management projected an annualized revenue run rate of $15 million to $20 million by year-end and referenced continued rollout of the Apex software offering. (stocktitan.net) April 2, 2026 was the filing date of Algorhythm’s annual report for 2025 on the SEC’s company page, and the next formal update for investors is likely to come through subsequent SEC filings and a second-quarter earnings release. The company’s SEC landing page and investor materials identify Fort Lauderdale as its base and Nasdaq as its listing venue. (sec.gov) (seekingalpha.com)