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 Operations
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (UNAUDITED)
(In thousands, except share and per share data)
| Three months ended September 30 | Nine months ended September 30 | |||
|---|---|---|---|---|
| 2025 | 2024 | 2025 | 2024 | |
| Revenue(1) | $4,043 | $— | $6,623 | $— |
| Cost of goods sold | 2,668 | — | 4,476 | — |
| Gross profit | 1,375 | — | 2,147 | — |
| Selling, general and administrative(2) | 10,263 | 1,220 | 21,534 | 3,795 |
| Change in contingent consideration | — | — | — | (2,180) |
| Total operating expenses | 10,263 | 1,220 | 21,534 | 1,615 |
| Operating loss from continuing operations | (8,888) | (1,220) | (19,387) | (1,615) |
| Interest expense, net(3) | (1,134) | (38) | (1,424) | (166) |
| Change in fair value of warrant liabilities | (664) | (15,098) | (372) | (15,502) |
| Other income, net | 53 | — | 71 | — |
| Total other expense, net | (1,745) | (15,136) | (1,725) | (15,668) |
| Loss from continuing operations before income taxes | (10,633) | (16,356) | (21,112) | (17,283) |
| Income tax provision | — | — | — | — |
| Loss from continuing operations, net of income taxes | (10,633) | (16,356) | (21,112) | (17,283) |
| Loss from discontinued operations | (32) | (2,295) | (2,073) | (104) |
| Gain on disposal of Extraction business | — | — | 3,534 | — |
| (Loss) income from discontinued operations, net of income taxes | (32) | (2,295) | 1,461 | (104) |
| Net loss | (10,665) | (18,651) | (19,651) | (17,387) |
| Net loss per share: | ||||
| Basic and diluted (loss) income per share | ||||
| Continuing operations | $(5.31) | $(15.15) | $(10.69) | $(20.86) |
| Discontinued operations | (0.02) | (2.13) | 0.73 | (0.13) |
| Net loss per share attributable to Common Stockholders – basic and diluted (4) | $(5.33) | $(17.28) | $(9.96) | $(20.99) |
| Weighted average common shares outstanding - basic and diluted (4) | 2,002,568 | 1,079,198 | 1,973,553 | 828,344 |
| (1) | Include $696 thousand and $961 thousand for the three and nine months ended September 30, 2025, respectively, and none for the three and nine months ended September 30, 2024, in each case from related parties. |
| (2) | Include $3.1 million and $7.3 million for the three and nine months ended September 30, 2025, respectively, and none for the three and nine months ended September 30, 2024, in each case from related parties. |
| (3) | Include $1.4 million and $2.2 million of interest expense for the three and nine months ended September 30, 2025, respectively, and none for the three and nine months ended September 30, 2024, in each case from a related party. |
| (4) | Periods presented have been adjusted to retroactively reflect the 1-for-15 reverse stock split on October 8, 2024. Additional information regarding reverse stock splits may be found in Note 1 – Overview, Basis of Presentation, and Significant Accounting Policies, included in the notes to the condensed consolidated financial statements. |
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