Algorhythm reports Q1 EPS ($4.66) vs ($73.76) last year

Reports Q1 revenue $2M vs $2.4M last year. “2025 is off to an incredible start, highlighted by our recent acquisition of SMCB Solutions Private, which operates SemiCab’s AI enabled, cloud-based Collaborative Transportation Platform in the Indian market,” stated Gary Atkinson, Chief Executive Officer of Algorhythm (RIME). “SemiCab India is currently operating at an annualized revenue run rate of $4.6 million with projected volume from its national and multinational customers expected to double that run rate by the end of the year. In addition, SemiCab India recently expanded its active fleet to 140 trucks and has access to an additional 450 trucks which, in the event actual growth exceeds projected growth, provides it with the capacity to quadruple its annualized revenue run rate from $4.6 million to over $23 million during the second half of 2025. Algorhythm plans to develop its pipeline of pending contracts with new full truckload (FTL) carriers to grow its fleet to over 1,000 vehicles by the end of 2025 to keep pace with demand.”