Algorhythm Holdings Announces $12 Million Annualized Revenue Run Rate

Rapid Growth Driven by Expanding Freight Network and Strong Enterprise Demand

Fort Lauderdale, FL, April 20, 2026 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. (“Algorhythm”) (NASDAQ: RIME), a leading provider of AI-powered logistics solutions, today announced that SemiCab has surpassed a $12 million annualized revenue run rate (ARR), reflecting continued strong growth in both customer demand and network scale.

This milestone represents a more than 20% increase over the $10 million ARR previously announced in late December 2025. The increase was fueled by new contract wins, contract expansions, expanded lane coverage across existing enterprise customers, and increasing adoption of the platform’s AI-driven orchestration capabilities.

“We are excited with the rapid growth we are experiencing,” said Gary Atkinson, Chief Executive Officer of Algorhythm Holdings. “Surpassing $12 million in ARR just a few months after hitting the $10 million mark is a testament to the power of the SemiCab platform and the clear value it delivers to customers. As more enterprise shippers prioritize network optimization, labor efficiency, and environmental impact, SemiCab is emerging as the right solution at the right time.”

SemiCab has developed a strong reputation for its managed services model in India, with enterprise customers including the India segments of Procter & Gamble, Coca-Cola, Kellanova, and Unilever using its solutions. SemiCab recently launched its Apex SaaS platform for the U.S. and European markets, offering its collaborative freight orchestration model to 3PLs, dedicated fleet operators, and enterprise shippers through a high-margin, asset-light software experience. The platform’s orchestration engine automates freight planning, dispatch, and optimization across hundreds of lanes, enabling scalable operations with minimal overhead.

“Our solutions offer a smarter way to move freight, and our recent customer wins and contract expansions validate the effectiveness of our solutions,” continued Atkinson. “Whether through managed services or software, we’re helping customers reduce empty miles, cut fuel spend, and operate more resilient networks — and our revenue growth reflects the significant impact our solutions are having on our customers.”

About Algorhythm Holdings

Algorhythm Holdings, Inc. is a leading AI technology company focused on the growth and development of SemiCab, an emerging leader in the global logistics and distribution industry. Since 2020, SemiCab has enabled major retailers, brands and transportation providers to address common supply-chain problems globally. Its AI-enabled, cloud-based Collaborative Transportation Platform achieves the scalability required to predict and optimize millions of loads and hundreds of thousands of trucks. SemiCab uses real-time data from API-based load tendering and pre-built integrations with TMS and ELD partners to orchestrate collaboration across manufacturers, retailers, distributors, and their carriers. SemiCab uses AI/ML predictions and advanced predictive optimization models to enable fully loaded round trips. With SemiCab’s AI platform, shippers pay less and carriers make more without having to change a thing. For additional information, please go to: http://www.semicab.com.

Investor Relations Contact

Brendan Hopkins
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 contained in the company’s Annual Report on Form 10-K for the year ended December 31, 2025 and the other reports the company has filed with the SEC. You should not place undue reliance on any forward-looking statement, each of which applies only as of the date of this press release. Except as required by law, we undertake no obligation to update or revise publicly any of these forward-looking statements after the date of this press release to conform our statements to actual results or changed expectations, or as a result of new information, future events or otherwise.