Tearsheet

Investment Highlights Why It Matters Detailed financial logic regarding cash flow yields vs trend-riding momentum.


0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -47%
Weak multi-year price returns
2Y Excs Rtn is -92%, 3Y Excs Rtn is -120%
Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -28 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -172%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 1339%
  Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 12%
2 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -66%
  Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -159%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -159%
3   Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -126%
4   High stock price volatility
Vol 12M is 139%
5   Key risks
RYM key risks include [1] dependence on successful clinical trial outcomes and regulatory approval for its lead product, Show more.
0 Cash is significant % of market cap
Net D/ENet Debt/Equity. Debt net of cash. Negative indicates net cash. Equity is taken as the Market Capitalization is -47%
1 Strong revenue growth
Rev Chg LTMRevenue Change % Last Twelve Months (LTM) is 1339%
2 Valuation becoming less expensive
P/S 6M Chg %Price/Sales change over 6 months. Declining P/S indicates valuation has become less expensive. is -66%
3 Weak multi-year price returns
2Y Excs Rtn is -92%, 3Y Excs Rtn is -120%
4 Not profitable at operating income level
Op Inc LTMOperating Income, Last Twelve Months is -28 Mil, Op Mgn LTMOperating Margin = Operating Income / Revenue Reflects profitability before taxes and before impact of capital structure (interest payments). is -172%
5 Significant share based compensation
SBC/Rev LTMShare Based Compensation / Revenue (Sales), Last Twelve Months (LTM) is 12%
6 Not cash flow generative
CFO/Rev LTMCash Flow from Operations / Revenue (Sales), Last Twelve Months (LTM) is -159%, FCF/Rev LTMFree Cash Flow / Revenue (Sales), Last Twelve Months (LTM) is -159%
7 Yield minus risk free rate is negative
ERPEquity Risk Premium (ERP) = Total Yield - Risk Free Rate, Reflects the premium above risk free assets offered by the investment. is -126%
8 High stock price volatility
Vol 12M is 139%
9 Key risks
RYM key risks include [1] dependence on successful clinical trial outcomes and regulatory approval for its lead product, Show more.

Valuation, Metrics & Events

RYM Stock


Why The Stock Moved


Qualitative Assessment

AI Analysis | Feedback

Rythm (RYM) stock has lost about 55% since 9/30/2025 because of the following key factors:

1. Persistent Financial Losses and Cash Burn: Rythm (RYM) experienced significant financial challenges, reporting a net loss of $19.7 million on only $6.6 million in revenues for the first nine months of 2025. This was coupled with a substantial cash burn of $20.5 million during the same period, indicating an unsustainable financial trajectory.

2. High Debt Burden and Inefficient Cost Structure: The company's financial health was further strained by a debt-heavy capital structure, carrying $90.6 million in debt (primarily related-party convertible notes) against a limited cash reserve of $35.6 million by the end of the third quarter of 2025. Additionally, selling, general, and administrative expenses, which totaled $21.5 million for the first nine months of 2025, were more than triple the revenues, highlighting a highly inefficient cost structure.

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Stock Movement Drivers

Fundamental Drivers

The -60.3% change in RYM stock from 10/31/2025 to 1/20/2026 was primarily driven by a -69.6% change in the company's P/S Multiple.
103120251202026Change
Stock Price ($)45.6418.11-60.32%
Change Contribution ByLTMLTM
Total Revenues ($ Mil)12.2616.3032.98%
P/S Multiple7.322.22-69.60%
Shares Outstanding (Mil)1.972.00-1.89%
Cumulative Contribution-60.33%

LTM = Last Twelve Months as of date shown

Market Drivers

10/31/2025 to 1/20/2026
ReturnCorrelation
RYM-60.3% 
Market (SPY)-0.7%-13.5%
Sector (XLP)8.0%11.1%

Fundamental Drivers

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Market Drivers

7/31/2025 to 1/20/2026
ReturnCorrelation
RYM  
Market (SPY)7.5%1.9%
Sector (XLP)3.9%-3.0%

Fundamental Drivers

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Market Drivers

1/31/2025 to 1/20/2026
ReturnCorrelation
RYM  
Market (SPY)13.6%1.9%
Sector (XLP)6.3%-3.0%

Fundamental Drivers

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Market Drivers

1/31/2023 to 1/20/2026
ReturnCorrelation
RYM  
Market (SPY)72.9%1.9%
Sector (XLP)20.1%-3.0%

Return vs. Risk


Price Returns Compared

 202120222023202420252026Total [1]
Returns
RYM Return-----41%-8%-46%
Peers Return-16%-48%-32%-15%-15%2%-78%
S&P 500 Return27%-19%24%23%16%1%85%

Monthly Win Rates [3]
RYM Win Rate----75%0% 
Peers Win Rate23%23%37%37%35%60% 
S&P 500 Win Rate75%42%67%75%67%100% 

Max Drawdowns [4]
RYM Max Drawdown-----55%-8% 
Peers Max Drawdown-28%-51%-50%-29%-49%-1% 
S&P 500 Max Drawdown-1%-25%-1%-2%-15%0% 


[1] Cumulative total returns since the beginning of 2021
[2] Peers: SMG, TLRY, CGC, CRON, SNDL.
[3] Win Rate = % of calendar months in which monthly returns were positive
[4] Max drawdown represents maximum peak-to-trough decline within a year
[5] 2026 data is for the year up to 1/20/2026 (YTD)

How Low Can It Go

RYM has limited trading history. Below is the Consumer Staples sector ETF (XLP) in its place.

Unique KeyEventXLPS&P 500
2022 Inflation Shock2022 Inflation Shock  
2022 Inflation Shock% Loss% Loss-17.5%-25.4%
2022 Inflation Shock% Gain to Breakeven% Gain to Breakeven21.2%34.1%
2022 Inflation ShockTime to BreakevenTime to Breakeven682 days464 days
2020 Covid Pandemic2020 Covid Pandemic  
2020 Covid Pandemic% Loss% Loss-24.9%-33.9%
2020 Covid Pandemic% Gain to Breakeven% Gain to Breakeven33.2%51.3%
2020 Covid PandemicTime to BreakevenTime to Breakeven154 days148 days
2018 Correction2018 Correction  
2018 Correction% Loss% Loss-16.6%-19.8%
2018 Correction% Gain to Breakeven% Gain to Breakeven19.9%24.7%
2018 CorrectionTime to BreakevenTime to Breakeven404 days120 days
2008 Global Financial Crisis2008 Global Financial Crisis  
2008 Global Financial Crisis% Loss% Loss-33.4%-56.8%
2008 Global Financial Crisis% Gain to Breakeven% Gain to Breakeven50.2%131.3%
2008 Global Financial CrisisTime to BreakevenTime to Breakeven605 days1,480 days

Compare to SMG, TLRY, CGC, CRON, SNDL

In The Past

SPDR Select Sector Fund's stock fell -17.5% during the 2022 Inflation Shock from a high on 4/20/2022. A -17.5% loss requires a 21.2% gain to breakeven.

Preserve Wealth

Limiting losses and compounding gains is essential to preserving wealth over time.

Asset Allocation

Actively managed asset allocation strategies protect wealth. Learn more.

About Rythm (RYM)

Agrify Corporation develops precision hardware and software cultivation and extraction solutions for the cannabis and hemp industry in the United States. The company offers vertical farming units and Agrify Insights Software-as-a-Service software; integrated grow racks and LED grow lights; and non-proprietary products designed, engineered, and manufactured by third parties, such as air cleaning systems and pesticide-free surface protection products. It also provides associated services comprising consulting, engineering, and construction. The company was formerly known as Agrinamics, Inc. and changed its name to Agrify Corporation in September 2019. Agrify Corporation was incorporated in 2016 and is headquartered in Billerica, Massachusetts.

AI Analysis | Feedback

Here are a few analogies for Rythm (RYM):

  • An Oura Ring for brainwave-optimized sleep.
  • A Muse headband engineered for therapeutic sleep enhancement.

AI Analysis | Feedback

I could not find a publicly traded company named "Rythm" with the stock symbol "RYM". However, if you are referring to Rhythm Pharmaceuticals (symbol: RYTM), its major product is:

  • IMCIVREE (setmelanotide): A prescription medicine used for chronic weight management in adults and children 6 years of age and older with obesity due to certain rare genetic conditions, such as POMC, PCSK1, LEPR deficiency, or Bardet-Biedl Syndrome.

AI Analysis | Feedback

Upon reviewing major financial databases and public company listings, there does not appear to be a public company named "Rythm" with the stock symbol "RYM".

While there has been a private French company named Rythm Inc., known for its Dreem sleep tracking headband, this entity is not publicly traded and does not use the symbol RYM. Furthermore, this company faced financial difficulties, and its assets were acquired, meaning its direct-to-consumer product, the Dreem headband, is no longer actively sold by Rythm Inc. in its original form.

As the requested public company "Rythm (symbol: RYM)" does not seem to exist, I am unable to identify its major customers or customer categories.

AI Analysis | Feedback

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AI Analysis | Feedback

Ben Kovler, Chairman of the Board, Interim Chief Executive Officer, President, Secretary and Treasurer

Ben Kovler was appointed Interim CEO of RYTHM, Inc. in November 2024, also serving as Chairman, President, Secretary, and Treasurer. He spearheaded the company's rebranding from Agrify Corporation to RYTHM, Inc. in September 2025, following the acquisition of key brand intellectual property such as RYTHM, Dogwalkers, and Beboe, thereby shifting the company's strategic focus to hemp-derived THC products.

Brad Asher, Chief Financial Officer and Principal Accounting Officer

Brad Asher holds the position of Chief Financial Officer and Principal Accounting Officer at RYTHM, Inc.

AI Analysis | Feedback

The key risks for Rhythm Pharmaceuticals (RYTM) are primarily centered around the inherent challenges of the biopharmaceutical industry, particularly concerning product development and commercialization, as well as the company's current financial standing.

  1. Clinical Trial Outcomes and Regulatory Approvals: A significant risk for Rhythm Pharmaceuticals is the success of its ongoing clinical trials and the ability to obtain and maintain regulatory approvals for its product candidates. The company's lead product, IMCIVREE (setmelanotide), is in advanced stages of clinical trials for various rare genetic disorders, and future revenue generation is highly dependent on favorable outcomes and subsequent regulatory authorizations. The inherent risks associated with biotech investments often involve trial failures and the uncertainties of regulatory pathways.
  2. Lack of Profitability and Need for Future Funding: Rhythm Pharmaceuticals is currently operating at a net loss, reporting negative earnings per share and a negative return on equity. The company's valuation metrics reflect expectations of continued losses in the near term. While the company anticipated having sufficient cash to fund operations into 2027 as of its February 2025 financial results, sustained unprofitability necessitates careful financial management and potentially future capital raises to support ongoing operations and development.
  3. Commercialization Challenges, Competition, Pricing, and Reimbursement: Even with regulatory approval, Rhythm Pharmaceuticals faces risks related to the commercial success of its products. These challenges include the impact of competition from other treatments, the ability to effectively market and commercialize IMCIVREE, and unfavorable pricing regulations or third-party reimbursement practices. These factors can significantly influence the market uptake and profitability of their therapies.

AI Analysis | Feedback

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AI Analysis | Feedback

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AI Analysis | Feedback

Here are 3-5 expected drivers of future revenue growth for Rythm (symbol: RYM) over the next 2-3 years:

  1. Growth in Hemp-Derived Product Segment and THC Beverages: Rythm has demonstrated significant revenue increases driven by its hemp-derived product segment, with a reported 109% year-over-year revenue increase in Q3 2025, primarily from these offerings. The company recently launched RYTHM Beverages and expanded the distribution of its "Señorita THC Margaritas" to over 1,000 Circle K stores nationwide and select Target stores. This expansion into the rapidly growing THC beverage market is a key growth avenue.
  2. Strategic Acquisitions and Brand Portfolio Expansion: Rythm has actively pursued growth through strategic acquisitions, such as acquiring brand intellectual property portfolios including RYTHM, Dogwalkers, and Beboe on August 27, 2025. These acquisitions enhance the company's product offerings and strengthen its licensing agreements for manufacturing and distribution.
  3. Expansion of Market Presence through Increased Distribution: The company is focused on broadening its market reach for its hemp-derived products. The introduction of Señorita THC Margaritas into major retail chains like Target and a significant rollout to over 1,000 Circle K convenience stores highlights a clear strategy to increase product accessibility and capture a larger market share.
  4. Capitalizing on Evolving Consumer Preferences for THC Beverages: Rythm is strategically aligning with the increasing consumer trend, particularly among younger generations, who are choosing THC beverages as an alternative to alcohol. This shift in consumer preference is viewed by the company's leadership as a "promising growth avenue" and a "long tailwind for growth."

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Share Issuance

  • RYTHM (formerly Agrify Corporation) raised approximately $54 million in gross proceeds from its Initial Public Offering (IPO) in 2021.
  • In November 2024, Agrify Corporation raised approximately $25.9 million through a private placement of securities to institutional and accredited investors.
  • As of September 30, 2025, RYTHM had approximately 2.0 million shares outstanding, along with 7.6 million warrants and 6.2 million shares issuable upon the conversion of outstanding convertible notes.

Inbound Investments

  • In August 2025, RYTHM (formerly Agrify Corporation) issued $50 million in secured convertible notes.
  • Agrify Corporation completed a $25.9 million private placement with institutional and accredited investors in November 2024.

Outbound Investments

  • On August 27, 2025, Agrify Corporation acquired a portfolio of brand intellectual properties, including RYTHM, Dogwalkers, and Beboe, from Green Thumb Industries for US$50 million, paid via a convertible note.
  • On May 20, 2025, Agrify Corp acquired MC Brands LLC and Core Growth LLC for $5,075,000, which included intellectual properties.

Capital Expenditures

  • Agrify Corporation's statement of cash flows indicates investing activities of $(54) thousand for the twelve months ended December 31, 2024, and $25,179 thousand for the same period in 2023.
  • In 2024, Agrify noted an increase in capital expenditures, particularly in newly licensed states, to support its vertical farming unit (VFU) technology.

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Peer Comparisons for Rythm

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Financials

RYMSMGTLRYCGCCRONSNDLMedian
NameRythm Scotts M.Tilray B.Canopy G.Cronos SNDL  
Mkt Price18.1162.808.751.152.551.585.65
Mkt Cap0.03.61.00.31.00.40.7
Rev LTM163,413837279132952558
Op Inc LTM-28422-75-56-24-11-26
FCF LTM-26274-68-96-658-16
FCF 3Y Avg-26432-68-261-2527-25
CFO LTM-26371-28-882270-2
CFO 3Y Avg-26523-37-253-1137-19

Growth & Margins

RYMSMGTLRYCGCCRONSNDLMedian
NameRythm Scotts M.Tilray B.Canopy G.Cronos SNDL  
Rev Chg LTM1,338.9%-3.9%1.0%-0.7%19.0%4.4%2.7%
Rev Chg 3Y Avg390.1%-4.5%11.9%-10.8%17.4%29.3%14.6%
Rev Chg Q--6.6%3.1%5.9%6.1%3.1%3.1%
QoQ Delta Rev Chg LTM33.0%-0.8%0.8%1.3%1.6%0.8%1.1%
Op Mgn LTM-171.6%12.4%-9.0%-20.3%-18.5%-1.2%-13.7%
Op Mgn 3Y Avg-167.3%7.7%-15.7%-50.2%-60.7%-6.5%-33.0%
QoQ Delta Op Mgn LTM-6.0%1.0%1.8%2.6%11.2%-0.0%1.4%
CFO/Rev LTM-158.6%10.9%-3.4%-31.7%16.4%7.3%2.0%
CFO/Rev 3Y Avg-451.8%14.9%-4.6%-86.6%-19.0%4.0%-11.8%
FCF/Rev LTM-158.6%8.0%-8.2%-34.5%-4.3%6.1%-6.3%
FCF/Rev 3Y Avg-452.2%12.3%-8.5%-89.3%-30.2%2.8%-19.4%

Valuation

RYMSMGTLRYCGCCRONSNDLMedian
NameRythm Scotts M.Tilray B.Canopy G.Cronos SNDL  
Mkt Cap0.03.61.00.31.00.40.7
P/S2.21.11.21.17.40.41.1
P/EBIT-1.210.4-0.4-0.9-39.9-4.6-1.1
P/E-0.825.0-0.5-0.827.1-4.6-0.6
P/CFO-1.49.8-33.9-3.644.96.02.3
Total Yield-121.4%8.2%-218.3%-122.4%3.7%-21.9%-71.6%
Dividend Yield0.0%4.2%0.0%0.0%0.0%0.0%0.0%
FCF Yield 3Y Avg-11.9%-37.8%-81.0%-3.1%5.8%-3.1%
D/E0.50.70.30.80.00.40.4
Net D/E-0.50.60.0-0.1-0.8-0.2-0.2

Returns

RYMSMGTLRYCGCCRONSNDLMedian
NameRythm Scotts M.Tilray B.Canopy G.Cronos SNDL  
1M Rtn-36.6%7.1%-21.6%-22.3%-13.9%-17.7%-19.7%
3M Rtn-56.4%15.8%-40.9%-16.1%2.0%-29.8%-22.9%
6M Rtn-49.6%-6.4%11.3%-8.0%19.2%-3.7%-5.0%
12M Rtn-49.6%-6.5%-27.1%-47.2%28.1%-11.2%-19.2%
3Y Rtn-49.6%14.4%-91.5%-95.6%2.0%-31.3%-40.5%
1M Excs Rtn-43.1%5.8%-33.2%-41.2%-17.0%-24.8%-29.0%
3M Excs Rtn-59.4%15.0%-45.9%-14.2%0.4%-34.2%-24.2%
6M Excs Rtn-57.4%-11.7%22.1%-5.1%14.2%-7.8%-6.5%
12M Excs Rtn-64.1%-21.8%-40.3%-63.4%15.0%-26.7%-33.5%
3Y Excs Rtn-120.3%-49.3%-162.1%-166.3%-71.0%-101.9%-111.1%

Financials

Segment Financials

Revenue by Segment
$ Mil20242023202220212020
Single Segment15    
Agrify Insights software 000 
Cultivation solutions, including ancillary products and services 11154
Extraction solutions 3412  
Facility build-outs 23367 
Services    0
Total155860124


Short Interest

Short Interest: As Of Date12312025
Short Interest: Shares Quantity70,867
Short Interest: % Change Since 12152025-55.4%
Average Daily Volume74,464
Days-to-Cover Short Interest1
Basic Shares Quantity2,002,568
Short % of Basic Shares3.5%

Earnings Returns History

Expand for More
 Forward Returns
Earnings Date1D Returns5D Returns21D Returns
11/7/2025-3.7%-39.0%-51.8%
SUMMARY STATS   
# Positive000
# Negative111
Median Positive   
Median Negative-3.7%-39.0%-51.8%
Max Positive   
Max Negative-3.7%-39.0%-51.8%

SEC Filings

Expand for More
Report DateFiling DateFiling
09/30/202511/07/202510-Q (09/30/2025)
06/30/202508/08/202510-Q (06/30/2025)
03/31/202505/09/202510-Q (03/31/2025)
12/31/202403/21/202510-K (12/31/2024)
09/30/202411/14/202410-Q (09/30/2024)
06/30/202408/14/202410-Q (06/30/2024)
03/31/202405/21/202410-Q (03/31/2024)
12/31/202304/15/202410-K (12/31/2023)
09/30/202301/03/202410-Q (09/30/2023)
06/30/202312/12/202310-Q (06/30/2023)
03/31/202311/28/202310-Q (03/31/2023)
12/31/202211/28/202310-K (12/31/2022)
09/30/202211/14/202210-Q (09/30/2022)
06/30/202208/15/202210-Q (06/30/2022)
03/31/202205/16/202210-Q (03/31/2022)
12/31/202103/31/202210-K (12/31/2021)

Insider Activity

Expand for More
#OwnerTitleHoldingActionFiling DatePriceSharesTransacted
Value
Value of
Held Shares
Form
1Kovler, BenjaminInterim CEODirectBuy929202537.081,00037,084704,602Form
2Kovler, BenjaminInterim CEODirectBuy922202539.991,00039,990719,820Form
3Vakili, ArmonDirectSell910202538.231,90072,633309,644Form
4Kovler, BenjaminInterim CEODirectBuy903202536.701,00036,700623,900Form
5Kovler, BenjaminInterim CEODirectBuy902202546.701,00046,700747,200Form