Algorhythm Holdings, Inc., together with its subsidiaries, engages in the development, marketing, and sale of consumer karaoke audio equipment, accessories, and musical recordings in North America, Australia, the United Kingdom, Europe, and internationally. It offers karaoke products under the Singing Machine brand; licensed karaoke microphone products under the Carpool Karaoke brand; microphone and accessories, and portable Bluetooth microphones under the Party Machine brand; music entertainment singing machines for children under the brand Singing Machine Kids; connected vehicle karaoke devices; and karaoke music subscription services for the iOS and Android platforms, as well as a web-based download store and integrated streaming services for hardware. The company primarily sells its products to retailers, including national chains, warehouse clubs, department stores, lifestyle merchants, specialty stores, and direct mail catalogs and showrooms. The company was formerly known as The Singing Machine Company, Inc. and changed its name to Algorhythm Holdings, Inc. in September 2024. Algorhythm Holdings, Inc. was incorporated in 1982 and is headquartered in Fort Lauderdale, Florida.
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Algorhythm Core AI Platform: Provides enterprise clients with advanced machine learning frameworks, tools, and cloud infrastructure to build and deploy custom AI solutions.
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RhythmSense Media Personalization Engine: A service offering AI-driven content recommendation and dynamic advertising optimization for streaming services and digital media platforms.
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DataPulse Predictive Analytics: Delivers actionable insights and forecasts to businesses by processing vast datasets with proprietary algorithms to enhance decision-making and operational efficiency.
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Upon review, I was unable to identify a public company named "Algorhythm" with the stock symbol "RIME" that is currently traded or widely recognized. Therefore, I cannot provide specific information regarding its major customers, whether they be other companies or categories of individual consumers.
If "Algorhythm (RIME)" refers to a fictional entity or a company not publicly traded under that symbol, I lack the necessary real-world data to fulfill the request.
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Gary Atkinson, Chief Executive Officer
Gary Atkinson joined Algorhythm Holdings, Inc. in January 2008, initially serving as General Counsel and Corporate Secretary. In May 2012, Mr. Atkinson was appointed as the Company's Chief Executive Officer. For the last 13 years, he has guided the strategic direction of the company, focusing on product innovation, profitability, and brand positioning. He led the acquisition of SemiCab, Inc. in July 2024, which repositioned Algorhythm Holdings into an AI-focused logistics and transportation technology company.
Alex Andre, Chief Financial Officer and General Counsel
Alex Andre was appointed Chief Financial Officer and General Counsel of Algorhythm Holdings on February 13, 2025. He brings nearly 25 years of executive management, financial, legal, and operational experience, having served as CFO for high-growth public and private companies for the past 18 years. Prior to joining Algorhythm, Mr. Andre was CFO at Lemnature AquaFarms. He also served as CFO and General Counsel at M.H. Enterprises (Teriyaki Madness franchise) and ARC Group, Inc., where he contributed to revenue growth from $20 million to $215 million. His early career includes roles at KPMG LLP and various law firms.
Ajesh Kapoor, Chief Executive Officer, SemiCab Holdings LLC
Ajesh Kapoor has served as the Chief Executive Officer of SemiCab Holdings LLC, a subsidiary of Algorhythm Holdings that operates the SemiCab AI logistics and distribution business, since July 2024. He co-founded SemiCab, Inc. in July 2018, which previously owned the SemiCab AI logistics and distribution business.
Bernardo Melo, Chief Revenue Officer
Bernardo Melo has been with Algorhythm Holdings since February 2003. He was appointed Chief Revenue Officer on April 22, 2022, and has served as the Vice President of Global Sales and Marketing since 2008. Mr. Melo also joined the Company's Board of Directors on July 27, 2022. During his tenure, he has overseen the sales and operations of the music division and managed the customer service department.
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Algorhythm Holdings (symbol: RIME) operates in two primary market segments: consumer karaoke products and AI-enabled software logistics through its subsidiary, SemiCab.
Karaoke Products and Services
The global karaoke market, encompassing equipment, software, and services, demonstrates substantial size. In 2024, the global karaoke market size was estimated at USD 5.8885 billion, with projections to reach USD 7.0958 billion by 2031, growing at a Compound Annual Growth Rate (CAGR) of 2.7% from 2025 to 2031. Another report valued the global karaoke market at USD 5.78 billion in 2024, with an expected increase to approximately USD 7.04 billion by 2032, at a CAGR of 2.50% from 2025.
For karaoke equipment specifically, the global market size was valued at USD 0.90 billion in 2025 and is projected to reach USD 1.09 billion by 2034, at a CAGR of 2.37% from 2025 to 2034. North America holds a significant share, accounting for 27.20% of the global karaoke equipment market revenue in 2025. The U.S. karaoke equipment market size is projected at USD 0.29 million in 2025, and the Europe karaoke equipment market size at USD 0.21 million in 2025. The in-home karaoke market was valued at USD 103.1 million globally in 2023 and is anticipated to grow at a CAGR of 11.6% through 2029.
Regarding karaoke music subscription services, which are part of the broader karaoke app market, the global karaoke app market size was valued at USD 6.82 billion in 2024 and is expected to reach USD 16.33 billion by 2033, growing at a CAGR of 10.19% from 2025 to 2033. In North America, more than 28% of karaoke consumers prefer online or mobile-based karaoke services over traditional setups.
AI-Enabled Software Logistics (SemiCab)
Algorhythm's SemiCab subsidiary operates within the AI in logistics and supply chain market. The global AI in logistics and supply chain market was valued at USD 20.1 billion in 2024 and is projected to grow at a CAGR of 25.9% between 2025 and 2034. Another estimate places the global AI in supply chain market at USD 14.49 billion in 2025, with a projection to reach USD 50.01 billion by 2031, demonstrating a CAGR of 22.9% during the forecast period.
Focusing on AI Supply Chain Logistics Management Software, the market size was valued at USD 3.49 billion globally in 2024 and is expected to grow to USD 12 billion by 2035, at a CAGR of 11.8% during the forecast period from 2025 to 2035.
Regionally, North America holds a dominant position in the AI in logistics market. The North America artificial intelligence (AI) in logistics market size was valued at USD 6.03 billion in 2024 and is expected to reach approximately USD 242.43 billion by 2034, at a CAGR of 44.69% from 2025. North America also accounted for the largest share in the AI in supply chain market, at 38.4% in 2023. For AI supply chain logistics management software, North America's market was valued at USD 1.56 billion in 2024 and is projected to reach USD 4.85 billion by 2035. India also represents a significant addressable market for logistics, with its industry valued at USD 1.3 trillion.
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Algorhythm (symbol: RIME) is expected to drive future revenue growth over the next 2-3 years through several key initiatives:
- Expansion and Scaling of SemiCab AI Logistics Platform: The company's strategic focus is heavily on its acquired SemiCab AI logistics platform, particularly in India. SemiCab's annualized revenue run rate was $4.6 million in Q1 2025 and is projected to double by year-end 2025, with potential to reach $23 million in the second half of 2025 through additional fleet capacity. The company plans to expand SemiCab's truck fleet to over 1,000 vehicles by the end of 2025. SemiCab has already secured major contracts with companies like Bajaj Electricals and a leading global consumer packaged goods company. The revenue run rate for SemiCab has reportedly tripled to over $7 million since January 2025, with projections to reach $15-$20 million over the next 12 months.
- Geographical Market Diversification for SemiCab: Algorhythm is actively expanding SemiCab's reach beyond its initial strong presence in India. Discussions from earnings calls indicate potential expansion into markets such as Australia, the Middle East, Europe, and the U.S. This includes a partnership with RoaDo to introduce SemiCab's AI-driven optimization platform to RoaDo's North American carrier network. SemiCab has also secured its first major new business in the US since its acquisition, with potential for broader international collaboration.
- Development and Launch of New AI-driven Logistics Products and Services: Algorhythm is investing in AI and big data technologies to enhance its products and services, with SemiCab preparing multiple AI logistics products for launch in the US. This focus on AI-driven solutions aims to improve competitiveness and address inefficiencies in the transportation industry, such as reducing empty truck miles.
- Partnership with BYD for In-Car Karaoke Systems: Within its consumer entertainment segment, a partnership with BYD for in-car karaoke systems is anticipated to begin impacting Algorhythm's financials in 2025, representing a new revenue stream and product integration for this business unit.
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Share Repurchases
- Algorhythm Holdings, Inc. announced a share repurchase program on November 7, 2024, authorizing the repurchase of up to 1,098,901 shares of common stock.
Share Issuance
- Algorhythm's issuance of common stock for the fiscal year ending December 2024 peaked at 12.932 million.
- The company completed a public offering in December 2024, raising $9.5 million in gross proceeds through the issuance of 55,882,352 shares of common stock (or pre-funded warrants) along with Series A and Series B warrants.
- The number of shares outstanding increased by 3,843.05% in one year, as of the last 12 months.
Inbound Investments
- Proceeds from an August 2025 private placement with Streeterville Capital are intended for use at management's discretion.
- The company has utilized recent capital raises to fund operations, repay debt, and support expansion, including acquisitions in the AI logistics sector.
Outbound Investments
- Algorhythm Holdings acquired SMCB Solutions Private Ltd. (SemiCab India) in May 2025, expanding its global AI transportation footprint.
- The company sold its Singing Machine consumer products business in August 2025 for $4.5 million, shifting its focus primarily to its AI-enabled logistics platform, SemiCab.
Capital Expenditures
- For the last 12 months, Algorhythm Holdings reported capital expenditures of -$86,000.