Algorhythm Holdings, Inc. Files 10-Q for Q2 2025
Ticker: RIME · Form: 10-Q · Filed: Aug 19, 2025 · CIK: 923601
| Field | Detail |
|---|---|
| Company | Algorhythm Holdings, Inc. (RIME) |
| Form Type | 10-Q |
| Filed Date | Aug 19, 2025 |
| Risk Level | low |
| Pages | 15 |
| Reading Time | 18 min |
| Key Dollar Amounts | $0.01 |
| Sentiment | neutral |
Sentiment: neutral
Topics: 10-Q, financials, reporting
TL;DR
Algorhythm Holdings (formerly Singing Machine) filed its Q2 2025 10-Q. Check financials.
AI Summary
Algorhythm Holdings, Inc. filed its 10-Q for the period ending June 30, 2025. The company, formerly known as Singing Machine Co Inc, is based in Fort Lauderdale, Florida. The filing covers financial information for the second quarter and the first six months of fiscal year 2025.
Why It Matters
This filing provides investors with the latest financial performance and position of Algorhythm Holdings, Inc., crucial for understanding its current operational health and future prospects.
Risk Assessment
Risk Level: low — This is a standard quarterly financial filing with no immediate red flags or significant new disclosures.
Key Numbers
- 20250630 — Reporting Period End Date (Indicates the end of the fiscal quarter and year-to-date period covered by the report.)
- 20250819 — Filing Date (The date the 10-Q was officially submitted to the SEC.)
Key Players & Entities
- Algorhythm Holdings, Inc. (company) — Filer of the 10-Q
- Singing Machine Co Inc (company) — Former name of Algorhythm Holdings, Inc.
- Fort Lauderdale, Florida (location) — Business address of Algorhythm Holdings, Inc.
- June 30, 2025 (date) — End of the reporting period for the 10-Q
FAQ
What is the primary business of Algorhythm Holdings, Inc.?
Algorhythm Holdings, Inc. is classified under the SIC code 3652 for 'PHONOGRAPH RECORDS & PRERECORDED AUDIO TAPES & DISKS'.
When did Algorhythm Holdings, Inc. change its name from Singing Machine Co Inc?
The company changed its name from Singing Machine Co Inc on May 23, 1994.
What is the fiscal year end for Algorhythm Holdings, Inc.?
The fiscal year end for Algorhythm Holdings, Inc. is December 31.
What is the SEC file number for Algorhythm Holdings, Inc.?
The SEC file number for Algorhythm Holdings, Inc. is 001-41405.
What periods does this 10-Q filing cover?
This 10-Q filing covers the period ending June 30, 2025, including financial data for the second quarter and the first six months of fiscal year 2025.
Filing Stats: 4,564 words · 18 min read · ~15 pages · Grade level 17.2 · Accepted 2025-08-19 16:06:26
Key Financial Figures
- $0.01 — e on which registered Common Stock, $0.01 par value per share RIME NASDAQ Ca
Filing Documents
- form10-q.htm (10-Q) — 1122KB
- ex31-1.htm (EX-31.1) — 11KB
- ex31-2.htm (EX-31.2) — 11KB
- ex32-1.htm (EX-32.1) — 9KB
- form10-q_001.jpg (GRAPHIC) — 6KB
- 0001641172-25-024828.txt ( ) — 6919KB
- rime-20250630.xsd (EX-101.SCH) — 52KB
- rime-20250630_cal.xml (EX-101.CAL) — 69KB
- rime-20250630_def.xml (EX-101.DEF) — 300KB
- rime-20250630_lab.xml (EX-101.LAB) — 436KB
- rime-20250630_pre.xml (EX-101.PRE) — 386KB
- form10-q_htm.xml (XML) — 1087KB
Financial Statements
Financial Statements 2 Condensed Consolidated Balance Sheets as of June 30, 2025 (Unaudited) and December 31, 2024 2 Condensed Consolidated Statements of Operations for the three and six months ended June 30, 2025 and 2024 (Unaudited) 3 Condensed Consolidated Statements of Stockholders' Equity for the three and six months ended June 30, 2025 and 2024 (Unaudited) 4 Condensed Consolidated Statements of Cash Flows for the six months ended June 30, 2025 and 2024 (Unaudited) 5 Notes to Condensed Consolidated Financial Statements (Unaudited) 6 Item 2.
Management's Discussion and Analysis of Financial Condition and Results of Operations
Management's Discussion and Analysis of Financial Condition and Results of Operations 27 Item 3.
Quantitative and Qualitative Disclosures About Market Risk
Quantitative and Qualitative Disclosures About Market Risk 35 Item 4.
Controls and Procedures
Controls and Procedures 35
– OTHER INFORMATION
PART II – OTHER INFORMATION 37 Item 1.
Legal Proceedings
Legal Proceedings 37 Item 1A.
Risk Factors
Risk Factors 37 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 37 Item 3. Defaults Upon Senior Securities 37 Item 4. Mine Safety Disclosures 37 Item 5. Other Information 37 Item 6. Exhibits 38 PART I. FINANCIAL INFORMATION Item 1. Financial Statements. Algorhythm Holdings, Inc. and Subsidiaries CONDENSED CONSOLIDATED BALANCE SHEETS June 30, 2025 December 31, 2024 (unaudited) Assets Current Assets Cash $ 1,134,000 $ 7,550,000 Accounts receivable, net of allowances of $ 101,000 and $ 274,000 , respectively 2,317,000 4,373,000 Accounts receivable, related party 124,000 212,000 Accounts receivable 124,000 212,000 Note receivable - related party - 701,000 Inventory 2,733,000 2,186,000 Returns asset 93,000 1,621,000 Prepaid expenses and other current assets 1,219,000 120,000 Total Current Assets 7,620,000 16,763,000 Property and equipment, net 252,000 284,000 Other non-current assets 90,000 124,000 Intangible assets, net 315,000 345,000 Goodwill 4,418,000 786,000 Total Assets $ 12,695,000 $ 18,302,000 Liabilities and Shareholders' Equity Current Liabilities Accounts payable $ 1,996,000 $ 3,808,000 Accrued expenses 3,295,000 4,224,000 Refund due to customer 1,232,000 38,000 Reserve for sales returns 521,000 3,355,000 Warrant liability - 16,603,000 Promissory notes payable,net 379,000 - Current portion of promissory note payable - SemiCab, Inc. 1,500,000 - Promissory note payable 1,500,000 - Current portion of notes payable to related parties 265,000 265,000 Other current liabilities 62,000 145,000 Total Current Liabilities 9,250,000 28,438,000 Notes payable to related parties, net of current portion 385,000 385,000 Promoissory note payable - SemiCab, Inc., net of current portion 250,000 - Total Liabilities 9,885,000 28,823,000 Commitments and Contingencies - - Shareholders' Equity (Deficit) Pr