RYTHM, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $17.3M | $18,000 | $15.1M | $58.3M | $59.9M |
| Cost of revenue | $7.1M | $89,000 | $11.1M | $90.1M | $54.6M |
| Gross profit | $10.2M | -$71,000 | $4.0M | -$31.8M | $5.2M |
| Selling, general & administrative | $34.1M | $7.2M | $16.1M | $73.4M | $30.8M |
| Research and development | — | $743,000 | $2.3M | $8.2M | $3.9M |
| Operating expenses | $42.5M | $5.0M | $17.0M | $161.5M | $40.3M |
| Operating income | -$32.3M | -$5.1M | -$13.0M | -$193.3M | -$35.1M |
| Interest expense | $4.1M | $156,000 | — | — | — |
| Pretax income | -$34.7M | -$23.2M | -$13.4M | -$188.3M | -$32.3M |
| Income tax expense | — | -$2,000 | $2,000 | $23,000 | $25,000 |
| Net income | -$33.3M | -$41.7M | -$18.6M | -$188.2M | -$32.5M |
| Balance Sheet | |||||
| Cash and equivalents | $32.2M | $31.2M | $434,000 | $10.5M | $12.0M |
| Current assets | $47.5M | $34.7M | $24.0M | $44.9M | $86.7M |
| Total assets | $106.7M | $54.0M | $45.3M | $69.7M | $182.0M |
| Current liabilities | $43.0M | $24.7M | $41.2M | $70.6M | $43.6M |
| Total liabilities | $93.7M | $25.9M | $60.0M | $78.7M | $44.6M |
| Total debt | — | — | $21.3M | $32.7M | — |
| Stockholders' equity | $13.0M | $28.1M | -$14.7M | -$9.3M | $137.1M |
| Cash Flow Statement | |||||
| Cash from operations | -$23.5M | -$11.6M | -$31.0M | -$72.0M | -$30.1M |
| Depreciation and amortization | $6.2M | $300,000 | $700,000 | $1.7M | $655,000 |
| Stock-based compensation | $2.2M | $1.2M | $2.7M | $4.3M | $0 |
| Capital expenditure | — | $4,000 | $59,000 | $8.1M | $2.2M |
| Free cash flow | — | -$11.6M | -$31.0M | -$80.2M | -$32.4M |
| Dividends paid | — | — | — | $3.0M | $61,000 |
| Impairments | $600,000 | — | $69.9M | $69.9M | — |
Shares outstanding 2.1M · Free float 23.0%
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.