RYTHM, Inc.
For the period ended Sep 30, 2025. Filed Nov 7, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 7, 2025
RYM$16.43-3.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (UNAUDITED)
(In thousands)
| For the nine months ended September 30, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net loss | $(19,651) | $(17,387) |
| Adjustments to reconcile net (loss) income to net cash used in operating activities: | ||
| Depreciation and amortization | 2,530 | 1,114 |
| Amortization of debt discount | — | (47) |
| Non-cash interest expense | 1,904 | — |
| Lease expense | 120 | 442 |
| Impairment of right-of-use assets | 24 | — |
| Stock-based compensation expense | 1,612 | 854 |
| Change in fair value of warrant liabilities | 372 | 15,502 |
| Change in provision for credit losses, net | 146 | 409 |
| Change in inventory reserves | 507 | (1,833) |
| Loss on abandonment of CIP projects | — | 16 |
| (Gain) loss on disposal of property and equipment | (2) | 1 |
| Gain on early termination of lease | — | (39) |
| Gain on settlement of contingent liability | — | (5,935) |
| Change in contingent consideration | — | (2,180) |
| Gain on disposal of Extraction business | (3,534) | — |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (1,460) | 82 |
| Accounts receivable - related party | (454) | — |
| Inventory | (3,414) | 2,842 |
| Prepaid expenses and other current assets | (391) | 2,939 |
| Other non-current assets | 12 | 31 |
| Accounts payable | (320) | (2,796) |
| Accounts payable - related party | 60 | — |
| Accrued expenses and other current liabilities | (1,638) | (559) |
| Accrued expenses and other current liabilities - related party | 4,348 | — |
| Operating lease liabilities | (123) | (411) |
| Contract liabilities | (1,167) | 705 |
| Net cash and cash equivalents used in operating activities | (20,519) | (6,250) |
| Cash flows from investing activities: | ||
| Related party acquisition of MC Brands | (5,075) | — |
| Related party acquisition of VCP | (50,000) | — |
| Proceeds from disposal of property and equipment | — | 10 |
| Proceeds from repayment of loan receivable | — | 330 |
| Net cash and cash equivalents (used in) provided by investing activities | (55,075) | 340 |
| Cash flows from financing activities: | ||
| Proceeds from related party notes | 72,000 | — |
| Proceeds from notes payable | 8,000 | — |
| Proceeds from issuance of Common Stock through an S-1 and prefunded warrants offering | — | 2,123 |
| Proceeds from exercise of S-1 Prefunded Warrants | — | 4 |
| Proceeds from issuance of related party notes | — | 3,988 |
| Proceeds from exercise of CP Warrants | — | 6 |
| Repayments of notes payable | (3) | — |
| Payments on other financing loans | — | (1) |
| Payments on insurance financing loans | — | (377) |
| Net cash and cash equivalents provided by financing activities | 79,997 | 5,743 |
| Net increase (decrease )in cash and cash equivalents | 4,403 | (167) |
| Cash and cash equivalents at the beginning of period | 31,170 | 430 |
| Cash and cash equivalents of discontinued operations, beginning of period | $— | $— |
| Cash and cash equivalents of discontinued operations, end of period | — | — |
| Cash and cash equivalents at the end of period | $35,573 | $263 |
| Supplemental disclosures | ||
| Cash paid for interest | 8 | 95 |
| Supplemental disclosure of non-cash investing and financing activities | ||
| Issuance or accrual of pre-funded warrants in lieu of cash interest payments on related party debt | $1,794 | $— |
| Issuance or accrual of pre-funded warrants in lieu of cash interest | $108 | $— |
| Reclassification of accounts payable and accrued interests to notes payable | $99 | $— |
| Cashless exercise of liability classified warrants | $— | $3 |
| Financing of prepaid insurance | $— | $17 |
| Reclassification of liability classified prefunded warrants to equity | $— | $20,771 |
| Accrued interest consolidated into related party debt | $— | $364 |
| Deemed contribution from troubled debt restructuring with related party | $— | $676 |
| Transfer of loans receivable from noncurrent to current | $— | $1,680 |
| Conversion of convertible notes into equity | $— | $1,731 |
| Conversion of related party debts into warrants | $— | $10,044 |
| Consolidation of related party debt principal | $— | $3,799 |
| Non-cash amounts of lease liabilities arising from obtaining right-of-use assets | $— | $392 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.