Algorhythm Holdings Inc 2026年季度报告

FORM 10-Q ☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended March 31, 2026 OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ___________ to ___________ Commission File Number: 001-41405 95-3795478(I.R.S. EmployerIdentification Number) (State or other jurisdictionof incorporation or organization) Securities registered under Section 12(b) of the Act: Indicate by check mark whether the registrant (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Actof 1934 during the preceding 12 months (or for such shorter period that the registrant was required to file such reports), and (2) has beensubject to such filing requirements for the past 90 days. Yes☒No☐ Indicate by check mark whether the registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule405 of Regulation S-T during the preceding 12 months (or for such shorter period that the registrant was required to submit such files). Yes☒No☐ Indicate by check mark whether the registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, a smaller reportingcompany or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company” and“emerging growth company” in Rule 12b-2 of the Exchange Act: Accelerated filer☐Smaller reporting company☒Emerging growth company☐ Large accelerated filer☐Non-accelerated filer☒ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complyingwith any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐ Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ As of May 11, 2026, there were 14,651,665 shares of the issuer’s common stock, $0.01 par value per share, outstanding. ALGORHYTHM HOLDINGS, INC.TABLE OF CONTENTS PagePART I – FINANCIAL INFORMATION3Item 1.Financial Statements3Condensed Consolidated Balance Sheets as of March 31, 2026 (Unaudited) and December 31, 20253Condensed Consolidated Statements of Operations for the three months ended March 31, 2026 and 2025 (Unaudited)4Condensed Consolidated Statements of Comprehensive Loss for the three months ended March 31, 2026 and 2025(Unaudited)5Condensed Consolidated Statements of Stockholders’ Equity (Deficit) for the three months ended March 31, 2026 and2025 (Unaudited)6Condensed Consolidated Statements of Cash Flows for the three months ended March 31, 2026 and 2025 (Unaudited)7Notes to Condensed Consolidated Financial Statements (Unaudited)8Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations35Item 3.Quantitative and Qualitative Disclosures About Market Risk42Item 4.Controls and Procedures43PART II – OTHER INFORMATION44Item 1.Legal Proceedings44Item 1A.Risk Factors44Item 2.Unregistered Sales of Equity Securities and Use of Proceeds44Item 3.Defaults Upon Senior Securities44Item 4.Mine Safety Disclosures44Item 5.Other Information44Item 6.Exhibits452 Algorhythm Holdings, Inc. and SubsidiariesCONDENSED CONSOLIDATED BALANCE SHEETS Algorhythm Holdings, Inc. and SubsidiariesCONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS Algorhythm Holdings, Inc. and SubsidiariesCONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS Algorhythm Holdings, Inc. and SubsidiariesCONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS(Unaudited) Note 1 – Nature of Business Algorhythm Holdings, Inc. (f/k/a The Singing Machine Company, Inc.) (the “Company”) is an artificial intelligence (“AI”) technologycompany focused on the growth and development of SemiCab. SemiCab is an AI-enabled software logistics and distribution business thatutilizes the Company’s SemiCab technology platform to enable retailers, brands and transportation providers to address common supply chainproblems globally. The Company operates its SemiCab business through its subsidiary, SemiCab Holdings, LLC. Prior to August 1, 2025, the Company had a second business, which was Singing Machine. Singing Machine was a home karaokeconsumer products business that designed and distributed karaoke products to retailers and ecommerce partners globally through its subsidiary,The Singing Machine Company, Inc. The Company sold its Singing Machine business on August 1, 2025. Accordingly, the Company no longerowns or operates the Singing Machine business. The results of operations, cash flows, and related assets and liabilities of the Singing Machinebusiness have been classified as discontinued operations in the Company’s condensed consolidated financial statements for all periodspresented. The Company’s operations include its 80%-owned subsidiaries, SemiCab Holdings, LLC, a Nevada limited liabilit