Algorhythm (NASDAQ:RIME) Releases Earnings Results, Beats Estimates By $0.21 EPS

Algorhythm (NASDAQ:RIME) announced its quarterly earnings data on Thursday. The company reported ($0.52) EPS for the quarter, beating the consensus estimate of ($0.73) by $0.21, FiscalAI reports. The firm had revenue of $2.40 million for the quarter, compared to the consensus estimate of $2.00 million.

Here are the key takeaways from Algorhythm’s conference call:

• Revenue surged 71% sequentially to $2.4 million in Q1 2026, and management said SemiCab’s annualized revenue run rate rose above $12 million, with a target of $15 million to $20 million by year-end.
• The company said it is seeing strong customer traction in India, delivering 5,716 loads across 14 customers and expanding its dedicated truck fleet by 30% during the quarter.
• Algorhythm highlighted new and expanded customer relationships, including Coca-Cola India, MTR Foods, Marico, Bajaj Electricals, and an expanded agreement with Apollo Tyres.
• The balance sheet strengthened materially, with cash rising to $10.9 million and stockholders’ equity returning to a positive $3.2 million, which management said exceeds Nasdaq’s continued listing requirement.
• Management acknowledged missing a $1.5 million note payment, but said it was a deliberate capital-allocation choice rather than a liquidity issue and that it is negotiating a revised schedule under a 45-day forbearance.

Algorhythm Trading Down 10.8%

NASDAQ:RIME traded down $0.08 during midday trading on Friday, reaching $0.64. 421,755 shares of the stock traded hands, compared to its average volume of 5,298,223. The stock has a market capitalization of $9.41 million, a P/E ratio of -0.11 and a beta of -0.21. The company has a debt-to-equity ratio of 2.50, a quick ratio of 0.55 and a current ratio of 0.55. The company has a fifty day moving average of $1.15 and a 200 day moving average of $1.39. Algorhythm has a 12 month low of $0.54 and a 12 month high of $4.58.

Analyst Upgrades and Downgrades

RIME has been the topic of a number of recent research reports. Zacks Research upgraded shares of Algorhythm to a “hold” rating in a research report on Tuesday, January 27th. Wall Street Zen raised shares of Algorhythm to a “sell” rating in a report on Saturday, February 14th. One equities research analyst has rated the stock with a Strong Buy rating, one has issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat.com, Algorhythm has a consensus rating of “Hold” and a consensus target price of $5.00.

About Algorhythm

Algorhythm Holdings, Inc, together with its subsidiaries, engages in the development, marketing, and sale of consumer karaoke audio equipment, accessories, and musical recordings in North America, Australia, the United Kingdom, Europe, and internationally. It offers karaoke products under the Singing Machine brand; licensed karaoke microphone products under the Carpool Karaoke brand; microphone and accessories, and portable Bluetooth microphones under the Party Machine brand; music entertainment singing machines for children under the brand Singing Machine Kids; connected vehicle karaoke devices; and karaoke music subscription services for the iOS and Android platforms, as well as a web-based download store and integrated streaming services for hardware.