RYTHM, Inc.
For the period ended Mar 31, 2026. Filed May 5, 2026.
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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.
Mar 31, 2026 · Filed May 5, 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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Condensed Consolidated Balance Sheets
CONDENSED CONSOLIDATED BALANCE SHEETS (UNAUDITED)
(In thousands, except share and per share data)
| March 31, | December 31, | |
|---|---|---|
| 2026 | 2025 | |
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $33,261 | $32,218 |
| Accounts receivable, net(1) | 8,357 | 9,317 |
| Inventory, net(2) | 3,061 | 4,045 |
| Prepaid expenses and other current assets | 1,582 | 1,970 |
| Total current assets | 46,261 | 47,550 |
| Goodwill | 9,713 | 9,713 |
| Related party prepaid license rights | 45,957 | 49,400 |
| Deferred tax assets | 25,593 | — |
| Non-current assets associated with discontinued operations | — | 14 |
| Total assets | $127,524 | $106,677 |
| Liabilities and Stockholders’ Equity | ||
| Current liabilities: | ||
| Accounts payable(3) | $1,969 | $2,340 |
| Accrued expenses and other current liabilities(4) | 5,724 | 7,917 |
| Long-term debt, current | 8,621 | 3,621 |
| Related party debt, current | 72,000 | 27,000 |
| Current liabilities associated with discontinued operations | 2,043 | 2,082 |
| Total current liabilities | 90,357 | 42,960 |
| Warrant liabilities(5) | 592 | 697 |
| Long-term debt, net of current | — | 5,000 |
| Related party debt, net of current | — | 45,000 |
| Total liabilities | 90,949 | 93,657 |
| Commitments and contingencies (Note 15) | ||
| Stockholders’ equity: | ||
| Common Stock, $0.001 par value per share, 35,000,000 shares authorized; 2,149,128 shares issued and outstanding at March 31, 2026 and December 31, 2025 | 2 | 2 |
| Preferred Stock, $0.001 par value per share, 2,895,000 shares authorized, no shares issued or outstanding | — | — |
| Preferred A Stock, $0.001 par value per share, 105,000 shares authorized, no shares issued or outstanding | — | — |
| Additional paid-in capital | 357,451 | 353,818 |
| Accumulated deficit | (320,878) | (340,800) |
| Total stockholders’ equity | 36,575 | 13,020 |
| Total liabilities and stockholders’ equity | $127,524 | $106,677 |
| (1) | Includes $6.6 million and $7.0 million from related parties as of March 31, 2026 and December 31, 2025, respectively. |
| (2) | Includes $202 thousand and $392 thousand from a related party as of March 31, 2026 and December 31, 2025, respectively. |
| (3) | Includes $522 thousand and $152 thousand due to related parties as of March 31, 2026 and December 31, 2025, respectively. |
| (4) | Includes $3.6 million and $4.7 million due to related parties as of March 31, 2026 and December 31, 2025, respectively. |
| (5) | As of March 31, 2026 and December 31, 2025, the number of outstanding warrants subject to liability classification was 40,017, of which 15,394 were held by RSLGH, LLC (“RSLGH”) a related party. |
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