Revenue Grows by 1,367% as Total Liabilities Decrease Nearly 50%
2025 Financial Highlights
- Revenue increased
$4.1 million , or 1,367%, to$4.4 million for the year endedDecember 31, 2025 compared to$0.3 million for the year endedDecember 31, 2024 . - Operating expenses decreased
$1.6 million , or 19.5%, to$6.6 million for the year endedDecember 31, 2025 from$8.2 million for the year endedDecember 31, 2024 . - Net loss decreased
$7.8 million , or 32.0%, to$16.6 million for the year endedDecember 31, 2025 compared to$24.4 million for the year endedDecember 31, 2024 , of which$6.8 million and$8.9 million , respectively, was for non-cash warrant-related charges. - Total liabilities decreased
$14.2 million , or 49.3%, to$14.6 million as ofDecember 31, 2025 from$28.8 million as ofDecember 31, 2024 . - Cash on hand was
$6.1 million as ofDecember 31, 2025 compared to$7.2 million as ofDecember 31, 2024 .
“We are very pleased with the progress we made this past year boosting revenue while cutting expenses,” stated
“We also strengthened our balance sheet during 2025,” added
2025 Business Highlights
During 2025, SemiCab achieved five new contract wins with some of the largest multinational fast moving consumer goods companies (FMCGs) in
- In June, the company announced that SemiCab was awarded a multi-million-dollar expansion by Procter &
Gamble India covering new geographic regions across the country. - In July, the company announced that
Kellanova awarded SemiCab a significant expansion into new freight lanes following a successful pilot program.
- In August, the company announced that SemiCab signed a new master service agreement with Bajaj Electricals, one of the largest electronics manufacturers in
India , with over$560 million in annual sales. - In November, the company announced that SemiCab was awarded a contract expansion by Marico of up to
$3 million for freight coverage across key India distribution lanes. - In December, the company announced that Asian Paints, one of the 10 largest global shippers in the paints industry, awarded SemiCab a
$6 million contract expansion, the largest in its history, increasing Asian Paints’ active lanes from 25 to 183.
- The company acquired SMCB Solutions, which owns the India segment of our SemiCab business.
- SemiCab launched “Apex”, its new software-as-a-service (SaaS) platform that brings SemiCab’s proven AI-driven collaborative logistics technology to 3PLs and multi-enterprise shippers in
the United States andEurope . - SemiCab secured a supply chain finance receivables facility with
Bank of America to provide its India business with access to millions of dollars of low-cost, non-dilutive working capital. - SemiCab won “Best Value” Award from its largest customer at LogiMeet 2025.
Outlook for 2026
“SemiCab has evolved into a leading high-growth AI logistics company that is delivering real savings, real efficiency gains, and real environmental benefits to some of the world’s largest shippers,” stated
“We recently marked our entry into the
Management will host a conference call on
Conference Call Details:
Date:
Time:
Dial-in number: 888-999-3182
Conference ID: RIME
About
Investor Relations Contact
407-645-5295
investors@algoholdings.com
www.algoholdings.com
Media Contact
FischTank PR
Algorhythm@fischtankpr.com
Forward Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Any statement that is not historical in nature is a forward-looking statement and may be identified by the use of words and phrases such as "expects," "anticipates," "believes," "will," "will likely result," "will continue," "plans to," "potential," "promising," and similar expressions. These statements are based on management's current expectations and beliefs and are subject to a number of risks, uncertainties and assumptions that could cause actual results to differ materially from those described in the forward-looking statements, including the risk factors described from time to time in Algorhythm’s reports to the
CONSOLIDATED BALANCE SHEETS
| Assets | ||||||||
| Current Assets | ||||||||
| Cash | $ | 1,632,000 | $ | 7,233,000 | ||||
| Restricted cash | 4,514,000 | - | ||||||
| Accounts receivable, net of allowances of | 1,061,000 | 121,000 | ||||||
| Accounts receivable, related party | - | 701,000 | ||||||
| Prepaid expenses and other current assets | 729,000 | 59,000 | ||||||
| Current assets of discontinued operations | - | 8,649,000 | ||||||
| Total Current Assets | 7,936,000 | 16,763,000 | ||||||
| Property and equipment, net | 22,000 | 2,000 | ||||||
| Other non-current assets | 79,000 | - | ||||||
| Intangible assets, net | 2,005,000 | 345,000 | ||||||
| 2,682,000 | 786,000 | |||||||
| Non-current assets of discontinued operations | - | 406,000 | ||||||
| Total Assets | $ | 12,724,000 | $ | 18,302,000 | ||||
| Liabilities and Shareholders’ Equity | ||||||||
| Current Liabilities | ||||||||
| Accounts payable | $ | 1,413,000 | $ | 387,000 | ||||
| Accrued expenses | 1,556,000 | 1,746,000 | ||||||
| Other current liabilities | 69,000 | - | ||||||
| Warrant liability | - | 16,603,000 | ||||||
| Promissory notes payable, net | 9,102,000 | 50,000 | ||||||
| Current portion of notes payable to related parties | 2,300,000 | 265,000 | ||||||
| Current liabilities of discontinued operations | - | 9,387,000 | ||||||
| Total Current Liabilities | 14,440,000 | 28,438,000 | ||||||
| Long-term provision for employee benefits | 144,000 | - | ||||||
| Notes payable to related parties, net of current portion | - | 385,000 | ||||||
| Total Liabilities | 14,584,000 | 28,823,000 | ||||||
| Commitments and Contingencies | ||||||||
| Shareholders’ Equity (Deficit) | ||||||||
| Preferred stock, | - | - | ||||||
| Common stock, | 35,000 | 5,000 | ||||||
| Additional paid-in capital | 65,674,000 | 39,682,000 | ||||||
| Accumulated other comprehensive loss | (25,000 | ) | - | |||||
| Accumulated deficit | (65,043,000 | ) | (49,172,000 | ) | ||||
| Non-controlling interest | (1,743,000 | ) | (1,036,000 | ) | ||||
| (758,000 | ) | - | ||||||
| Total Shareholders’ Deficit | (1,860,000 | ) | (10,521,000 | ) | ||||
| Total Liabilities and Shareholders’ Deficit | $ | 12,724,000 | $ | 18,302,000 | ||||
See notes to the consolidated financial statements
CONSOLIDATED STATEMENTS OF OPERATIONS
| Year Ended | ||||||||
| $ | 4,391,000 | $ | 297,000 | |||||
| Cost of Sales | 5,706,000 | 491,000 | ||||||
| Gross Loss | (1,315,000 | ) | (194,000 | ) | ||||
| Operating Expenses | ||||||||
| Selling expenses | 4,000 | - | ||||||
| General and administrative expenses | 6,629,000 | 4,656,000 | ||||||
| Impairment of goodwill | - | 3,592,000 | ||||||
| Total Operating Expenses | 6,633,000 | 8,248,000 | ||||||
| Loss From Operations | (7,948,000 | ) | (8,442,000 | ) | ||||
| Other Expenses | ||||||||
| Change in fair value of warrant liability | (6,468,000 | ) | 334,000 | |||||
| Loss on issuance of warrants | - | (8,889,000 | ) | |||||
| Interest expense, net | (747,000 | ) | (1,887,000 | ) | ||||
| Total Other Expenses | (7,215,000 | ) | (10,442,000 | ) | ||||
| Loss From Continuing Operations Before Income Tax | (15,163,000 | ) | (18,884,000 | ) | ||||
| Income tax loss attributable to continuing operations | (47,000 | ) | - | |||||
| Net Loss From Continuing Operations | (15,210,000 | ) | (18,884,000 | ) | ||||
| Net loss from discontinued operations | (1,362,000 | ) | (5,483,000 | ) | ||||
| Net Loss | (16,572,000 | ) | (24,367,000 | ) | ||||
| Net loss attributable to non-controlling interest | 701,000 | 1,110,000 | ||||||
| Net Loss Available to Common Shareholders | $ | (15,871,000 | ) | $ | (23,257,000 | ) | ||
| Loss Per Common Share | ||||||||
| Basic and diluted from continuing operations | $ | (5.86 | ) | $ | (270.44 | ) | ||
| Basic and diluted from discontinued operations | (0.55 | ) | (83.43 | ) | ||||
| Basic and diluted | $ | (6.41 | ) | $ | (353.87 | ) | ||
| Weighted Average Common and Common | ||||||||
| Equivalent Shares: | ||||||||
| Basic and diluted | 2,475,293 | 65,722 | ||||||
See notes to the consolidated financial statements
