RYTHM reports Q4 revenue $10.7M (+164% QoQ); operating loss $12.9M with $8.5M impairment

RYTHM, Inc.

Q4 revenue from continuing ops $10.7M, up 164% from $4.0M in prior quarter.
Gross profit $8.0M (75% margin), vs $1.4M (34%) in prior quarter.
Operating loss $12.9M, driven by $8.5M non-cash impairment charge.
Cash balance $32.2M; year-end shares: 2.1M common, warrants for 10.9M shares.
Full year licensing fees $7.8M from brand IP licensed to Green Thumb Industries.

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