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RYM

RYTHM, Inc.

RYM

RYTHM, Inc. • NASDAQ
$20.00 ▲ 2.09% (+0.41)
Market Cap $40.05 M
52w High $58.68
52w Low $13.22
Dividend Yield 0%
P/E -1.14
Volume 898
Outstanding Shares 2.00M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $4.043M ▲ $8.468M ▲ $-10.665M ▼ -263.789% ▲ $-5.33 ▼ $-7.704M ▼
Q2-2025 $2.042M ▲ $7.48M ▲ $-7.36M ▼ -360.431% ▼ $-3.73 ▼ $-6.515M ▼
Q1-2025 $538K ▼ $3.791M ▼ $-1.626M ▲ -302.23% ▲ $-0.83 ▲ $-2.938M ▲
Q4-2024 $2.154M ▲ $7.475M ▲ $-24.359M ▼ -1.131K% ▼ $-6.39 ▲ $-10.57M ▲
Q3-2024 $1.934M $3.89M $-18.651M -964.374% $-17.31 $-18.281M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $35.573M ▼ $115.154M ▲ $103.432M ▲ $11.722M ▼
Q2-2025 $40.956M ▲ $69.474M ▲ $48.511M ▲ $20.963M ▼
Q1-2025 $24.449M ▼ $45.624M ▼ $18.802M ▼ $26.822M ▼
Q4-2024 $31.17M ▲ $54.022M ▲ $25.933M ▼ $27.859M ▲
Q3-2024 $267K $38.952M $33.495M $5.227M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-10.633M ▼ $-5.381M ▲ $-50M ▼ $49.998M ▲ $-5.383M ▼ $-5.381M ▲
Q2-2025 $-7.205M ▼ $-8.418M ▼ $-5.075M ▼ $30M ▲ $16.507M ▲ $-8.418M ▼
Q1-2025 $-1.626M ▲ $-6.72M ▼ $0 ▲ $-1K ▼ $-6.721M ▼ $-6.72M ▼
Q4-2024 $-24.359M ▼ $-5.333M ▼ $-394K ▼ $36.63M ▲ $30.907M ▲ $-5.337M ▼
Q3-2024 $-18.651M $-1.434M $4K $1.64M $210K $-1.43M

Five-Year Company Overview

Income Statement

Income Statement RYTHM is still very much an early-stage, sub‑scale business. Revenue is tiny and has actually drifted down in recent years rather than building steadily. The company has posted operating and net losses every single year shown, with one especially heavy loss period followed by somewhat smaller, but still meaningful, losses more recently. Profitability has improved from its worst point, but the business is far from break‑even and remains heavily dependent on future growth and cost discipline. The extremely large swings in reported earnings per share appear to be driven more by reverse stock splits and capital changes than by shifts in the underlying business size.

Balance Sheet

Balance Sheet The balance sheet is small and fragile. Total assets are modest and have shrunk from earlier levels, which limits financial flexibility. Cash on hand is thin, at times dipping close to empty, although it has ticked up recently. There is some debt, and historically the company has spent time with negative shareholder equity, which signals past accumulated losses and balance sheet stress. Equity has moved back into positive territory in the latest period, suggesting some cleanup or recapitalization, but the overall financial foundation still looks light and needs careful monitoring.

Cash Flow

Cash Flow Cash flow from the core business has been negative every year, which means the company is consistently burning cash to fund operations. The worst cash burn appears to have been a few years ago, with outflows moderating since then but remaining clearly negative. Capital spending is minimal, so the gap between operating cash flow and free cash flow is small; the issue is not big investments, it is that the existing business does not yet pay for itself. This pattern implies ongoing reliance on external funding, asset sales, or restructuring moves to keep the company financed until, and unless, the new strategy delivers sustainable positive cash flow.

Competitive Edge

Competitive Edge RYTHM has pivoted from being a cultivation technology provider to owning and commercializing a portfolio of cannabis and hemp‑derived consumer brands. Its main strengths now lie in brand equity and partnerships: it controls several recognizable names across edibles, pre‑rolls, luxury products, beverages, and medical‑oriented offerings, and it relies on a large industry player to manufacture and distribute many of these products under licensing agreements. This creates a capital‑light model and gives it access to an established footprint without building everything in‑house. On the other hand, the company operates in a highly competitive, heavily regulated, and fast‑changing market, and it is tiny relative to major multistate operators. Its dependence on partners for production and distribution also reduces its direct control over quality, margins, and market presence, especially given its constrained financial position.

Innovation and R&D

Innovation and R&D From its legacy as Agrify, RYTHM carries a base of cultivation and extraction technology, including controlled‑environment growing hardware and data‑driven software. While no longer the strategic center, this intellectual property could still provide optionality for future licensing or differentiation. The current focus is on product and brand innovation in high‑growth categories: edibles, convenient pre‑roll formats, premium‑branded goods, and hemp‑derived THC beverages that can reach beyond traditional dispensary channels. Several of its brands emphasize unique positioning—such as luxury design, social impact missions, medical‑style formulations, or award‑winning beverages—which can help them stand out in a crowded field. Given the company’s financial constraints, the emphasis is likely on applied, market‑driven innovation and brand extensions rather than large, long‑horizon R&D projects, so execution and smart prioritization will matter more than sheer research spending.

Summary

RYTHM today is a very small, loss‑making company in the middle of a major strategic shift. Financially, it has a history of persistent losses, ongoing cash burn, and a balance sheet that has only recently been repaired to a modestly positive equity position, leaving little margin for error. Strategically, the move away from capital‑intensive equipment toward an asset‑light, brand‑centric model in cannabis and hemp‑derived products offers clearer paths to growth and scalability, especially through licensing and partnerships. Its portfolio includes several well‑known and differentiated brands in some of the fastest‑growing niches of the cannabis ecosystem, which is a real strength. The key uncertainties are whether those brands can grow quickly and profitably enough, within a volatile regulatory and competitive environment, to overcome the company’s financial fragility and turn the business into a sustainable, cash‑generating operation. Progress on revenue traction, gross margins, cash burn, and the stability of key licensing relationships will be critical indicators of how this story develops.

NEWS

November 7, 2025 · 7:00 AM UTC

RYTHM, Inc. Reports Third Quarter 2025 Results

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