Algorhythm reports Q3 EPS ($1.15) vs 13c last year

Reports Q3 revenue $1.7M vs $127k last year. “Our third quarter was a transformational period for the company,” stated Gary Atkinson, Chief Executive Officer of Algorhythm (RIME). “With the sale of Singing Machine, we transformed Algorhythm Holdings into a high-growth, AI technology company while significantly reducing our cash burn and strengthening our balance sheet. We also unveiled our new “Apex” SaaS platform, marking our move into the $450 billion U.S. full-truckload market. Apex will provide us with asset-light recurring revenue and high gross profit margins from platform licensing, accelerated market penetration through white-label partnerships, and a growing data ecosystem that strengthens AI accuracy and customer value.”