RYTHM, Inc.
For the period ended Dec 31, 2025. Filed Mar 3, 2026.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2025 · Filed Mar 3, 2026
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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Item 8. Consolidated Statements of Cash Flows
CONSOLIDATED STATEMENTS OF CASH FLOWS
| Year Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Cash flows from operating activities: | ||
| Net loss | $(33,257) | $(41,746) |
| Adjustments to reconcile net loss to net cash and cash equivalents used in operating activities: | ||
| Depreciation and amortization | 6,156 | 1,421 |
| Amortization of debt discount | — | (47) |
| Non-cash interest expense | 2,829 | — |
| Lease expense | 156 | — |
| Impairment of right-of-use assets | 24 | — |
| Impairment of long-lived assets | 8,471 | — |
| Stock-based compensation expense | 2,157 | 1,165 |
| Change in fair value of warrant liabilities | (299) | 17,902 |
| Change in provision for credit losses, net | 268 | (336) |
| Change in inventory reserve | 552 | (747) |
| Loss on abandonment of CIP projects | — | 31 |
| Loss on inventory write-down | — | — |
| Gain on disposal of property and equipment | (2) | 14 |
| Gain on exit of Extraction business | (3,534) | — |
| Gain on early termination of lease | — | (50) |
| Gain on settlement of contingent liability | — | (5,935) |
| Loss on disposal of Cultivation business | — | 11,893 |
| Change in contingent consideration | — | (2,180) |
| Changes in operating assets and liabilities, net of acquisitions: | — | — |
| Accounts receivable | (1,788) | 646 |
| Accounts receivable - related party | (6,978) | — |
| Inventory | (2,886) | 8,341 |
| Prepaid expenses and other current assets | (1,245) | 1,872 |
| Operating lease right-of-use assets | — | 528 |
| Other non-current assets | 12 | 46 |
| Accounts payable | 151 | (4,562) |
| Accounts payable - related party | 152 | — |
| Accrued expenses and other current liabilities | (3,825) | 1,258 |
| Accrued expenses and other current liabilities - related party | 10,677 | — |
| Operating lease liabilities | (161) | (519) |
| Contract liabilities | (1,167) | (578) |
| Net cash and cash equivalents used in operating activities | (23,537) | (11,583) |
| Cash flows from investing activities: | ||
| Related party transaction with MC Brands | (5,075) | — |
| Related party transaction with VCP | (50,000) | — |
| Purchases of property and equipment | — | (4) |
| Proceeds from disposal of property and equipment | — | 20 |
| Issuance of loans receivable | — | (400) |
| Proceeds from repayment of loan receivable | — | 330 |
| Net cash and cash equivalents used in investing activities | (55,075) | (54) |
| Cash flows from financing activities: | ||
| Proceeds from related party notes payable | 72,000 | 14,453 |
| Proceeds from third-party notes payable | 8,000 | — |
| Repayments of third-party notes payable | (3) | — |
| Payments for taxes related to net share settlement of equity awards | (337) | — |
| Proceeds from issuance of Common Stock through an S-1 and Pre-Funded Warrants offering | — | 2,123 |
| Proceeds from issuance of Common Stock through IONIC Stock Subscription | — | 345 |
| Proceeds from issuance of Common Stock in connection with private placement, net | — | 25,793 |
| Proceeds from exercise of Pre-Funded Warrants | — | 36 |
| Payments on insurance financing loans | — | (377) |
| Net cash and cash equivalents provided by financing activities continuing operations | 79,660 | 42,373 |
| Net increase in cash and cash equivalents | 1,048 | 30,736 |
| Cash and cash equivalents at the beginning of period | $31,170 | $434 |
| 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 | $32,218 | $31,170 |
| Year Ended December 31, | ||
|---|---|---|
| 2025 | 2024 | |
| Supplemental disclosures | ||
| Cash paid for interest | $9 | $— |
| Supplemental disclosure of non-cash investing and financing activities | ||
| Conversion of related party debt to common stock | $10,000 | $10,044 |
| Issuance of pre-funded warrants in lieu of related party shared services agreement | $3,771 | $— |
| Issuance of pre-funded warrants in lieu of related party cash interest | $2,644 | $— |
| Issuance of pre-funded warrants in lieu of cash interest | $183 | $— |
| Reclassification of accounts payable and accrued interests to notes payable | $99 | $— |
| Conversion of liability classified pre-funded warrants to equity | $— | $20,771 |
| Stock and warrants issued in connection with business combination | $— | $18,836 |
| Fair value of warrants in connection with reclassification and issuance | $— | $6,791 |
| Conversion of convertible notes into equity | $— | $1,731 |
| Cashless exercise of liability classified warrants | $— | $1,680 |
| Deemed contribution from troubled debt restructuring with related party | $— | $676 |
| Financing of prepaid insurance | $— | $14 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.