Fort Lauderdale, FL, July 07, 2026 (GLOBE NEWSWIRE) -- Algorhythm Holdings, Inc. ("Algorhythm") (NASDAQ: RIME), a leading provider of AI-powered logistics solutions, today provided a summary of the milestones it achieved during the first half of 2026, and an overview of what it will be focused on accomplishing during the remainder of the year.

Algorhythm’s flagship platform, SemiCab continued to experience market adoption from new brands including Coca Cola India and Onida Electronics and expanded contracts with existing customers including Apollo Tyres, Unilever India and Proctor & Gamble India. These companies are using SemiCab’s AI-enabled global freight optimization platform to efficiently and effectively complete shipments across key domestic transportation lanes in India.

While SemiCab continued to thrive in India, the company made significant progress with market penetration efforts for its SemiCab Apex SaaS offering in the U.S. In March, the Company hired Jonthan Miller as VP of Sales to spearhead its business development efforts. Mr. Miller brings almost 30 years of logistics and freight technology leadership experience including senior roles at DAT Freight & Analytics, FourKites, GT Nexus, E2open, One Network, and i2 Technologies.

In an effort to bolster its public profile within the logistics and freight communities, SemiCab launched the Freight Network Forum, a new online series for senior freight, logistics, and supply chain leaders that examines the structural forces reshaping freight networks, and recently attended Reuters Events: Supply Chain USA 2026 in Chicago as a Gold Sponsor. SemiCab also contributed to key trade publications including Total Retail, Procurement Magazine and Food Digital Magazine. Additionally, Algorhythm CEO Gary Atkinson spoke to the broader adoption of and market potential for AI technology in logistics with appearances on Fox Business and Bloomberg TV, while SemiCab CEO Ajesh Kapoor did the same on Nasdaq TV (TradeTalks).

On the financial front, Algorhythm significantly strengthened its cash position during the first half of 2026, completing a $9.5 million capital infusion in February. Additionally, the company continued to generate strong revenue growth, reflecting both increased customer demand and network scale. Algorhythm achieved a $12 million annualized revenue run rate (ARR) during March 2026, representing a more than 20% increase over the $10 million ARR that it attained during December 2025, and generated first quarter revenue growth of more than 71% sequentially and more than 1,800% year-over-year.

"Over the past 12 months the Algorhythm and SemiCab teams have worked diligently to put the company in the position to succeed for the long-term," said Algorhythm Holdings CEO Gary Atkinson. "SemiCab continues to generate new customer contracts and existing customer contract expansions in India. Additionally, SemiCab’s Apex SaaS offering is generating interest in the U.S. and Europe from some of the largest and most successful companies in the world."

"We are very excited about the opportunities ahead for the remainder of 2026," said Mr. Atkinson. "Our investments in expanding our U.S. sales organization and business development efforts have resulted in encouraging customer engagement for our Apex SaaS platform. Our team is laser-focused on converting that growing pipeline into commercial relationships. At the same time, we continue to build on the strong momentum of our managed services business in India, as the expanded revenue provides a solid foundation for global business operations. We are also evaluating opportunities that we believe could enhance long-term shareholder value, and are confident that this balanced approach positions us well for executing our long-term growth strategy."

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 an 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.