---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-23-042363"
form_type: "8-K"
ticker: "RIME"
cik: "0000923601"
company_name: "Algorhythm Holdings, Inc."
filed_at: "2023-11-21T23:59:59+00:00"
generated_at: "2026-06-07T23:08:18.285839+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.55
calibrated_materiality_score: 0.55
confidence: "high"
source: SEC EDGAR
---

# Singing Machine reports Q2 FY2024 revenue $15.9M, net income $0.1M vs $0.6M YoY

## Summary
- Revenue decreased 7% to $15.9M from $17.1M year-over-year due to backlog and co-op accrual.
- Gross margin improved to 23.2% from 22.5% on product mix and lower freight costs.
- Net income fell to $0.1M from $0.6M on lower sales and higher operating expenses.
- Ended quarter with $3.2M cash, positive working capital $8.7M, no material debt.
- Transitioned to outsourced logistics model expected to reduce future warehousing and staffing costs.

## SEC filing metadata
- accession: 0001493152-23-042363
- form_type: 8-K
- ticker: RIME
- cik: 0000923601
- company_name: Algorhythm Holdings, Inc.
- filed_at: 2023-11-21T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.55
- calibrated_materiality_score: 0.55
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/923601/000149315223042363/0001493152-23-042363-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/923601/000149315223042363/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-23-042363
- JSON: https://secwatch.observer/filing/0001493152-23-042363.json
- Plain text: https://secwatch.observer/filing/0001493152-23-042363.txt

## Key facts
- Earnings Releases
  Algorhythm Holdings, Inc. reported the three months ended September 30, 2023 results: revenue $15.9 million, net income $0.1 million.
  - Period: the three months ended September 30, 2023
  - Revenue: $15.9 million
  - Net income: $0.1 million
  - Result: reported results
  source text: Revenues for the 3 months ended September 30, 2023 were $15.9 million, as compared to $17.1 million for the same period in the prior year.
  evidence_url: https://www.sec.gov/Archives/edgar/data/923601/000149315223042363/0001493152-23-042363-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.