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Third Quarter Financial Summary
"Revenue increased over 1,200%, from $0.1M to $1.7 million, year-over-year, driven by the acquisition of SemiCab India this past May and its continued growth thereafter," stated Alex Andre, Chief Financial Officer of Algorhythm. "We also experienced a substantial drop in operating expenses, driven largely by a steep decrease in general and administrative expenses that resulted from a variety of cost-reduction measures we implemented during the past couple of quarters. We expect revenue to continue to increase over the next 12 months as our SemiCab business continues to grow in India and as we benefit from the broader rollout of our SaaS business in the U.S. during 2026. Cash outflows will continue trending lower compared to historical levels due to the sale of Singing Machine, however increases in our strategic investments in SemiCab's business will offset some of these reductions."
Posted In: RIME
