RYTHM, Inc.
For the period ended Sep 30, 2026. Filed Nov 4, 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.
Sep 30, 2026 · Filed Nov 4, 2026
RYM$16.43-3.9%Stored close · as of Nov 10, 2026
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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, | |||
|---|---|---|---|---|
| 2026 | 2025 | 2026 | 2025 | |
| Revenue(1) | $23,857 | $4,043 | $60,163 | $6,623 |
| Cost of goods sold | 5,506 | 2,668 | 12,880 | 4,476 |
| Gross profit | 18,351 | 1,375 | 47,283 | 2,147 |
| Selling, general and administrative(2) | 17,370 | 10,263 | 48,400 | 21,534 |
| Total operating expenses | 17,370 | 10,263 | 48,400 | 21,534 |
| Operating income (loss) from continuing operations | 981 | (8,888) | (1,117) | (19,387) |
| Interest expense, net(3) | (1,663) | (1,134) | (5,132) | (1,424) |
| Gain (loss) in fair value of warrant liabilities | 149 | (664) | 22 | (372) |
| Other income, net | — | 53 | 2 | 71 |
| Total other expenses, net | (1,514) | (1,745) | (5,108) | (1,725) |
| Loss from continuing operations before income taxes | (533) | (10,633) | (6,225) | (21,112) |
| Income tax benefit | — | — | 26,798 | — |
| (Loss) income from continuing operations, net of income taxes | (533) | (10,633) | 20,573 | (21,112) |
| Loss from discontinued operations | — | (32) | — | (2,073) |
| Gain on disposal of Extraction business | — | — | — | 3,534 |
| (Loss) income from discontinued operations, net of income taxes | — | (32) | — | 1,461 |
| Net (loss) income | (533) | (10,665) | 20,573 | (19,651) |
| Net (loss) income per share: | ||||
| Basic income (loss) per share | ||||
| Continuing operations | $(0.07) | $(5.31) | $1.57 | $(10.69) |
| Discontinued operations | — | (0.02) | — | 0.73 |
| Net (loss) income per share attributable to Common Stockholders – basic | $(0.07) | $(5.33) | $1.57 | $(9.96) |
| Diluted income (loss) per share | ||||
| Continuing operations | $(0.07) | $(5.31) | $1.55 | $(10.69) |
| Discontinued operations | — | (0.02) | — | 0.73 |
| Net (loss) income per share attributable to Common Stockholders – diluted | $(0.07) | $(5.33) | $1.55 | $(9.96) |
| Weighted average common shares outstanding - basic | 7,722,524 | 2,002,568 | 4,029,540 | 1,973,553 |
| Weighted average common shares outstanding - diluted | 7,722,524 | 2,002,568 | 7,008,789 | 1,973,553 |
| (1) | Includes $17.8 million and $45.5 million for the three and nine months ended September 30, 2026, and $696 thousand and $961 thousand for the three and nine months ended September 30, 2025, in each case from related parties. |
| (2) | Includes $5.1 million and $15.4 million for the three and nine months ended September 30, 2026, and $3.1 million and $7.3 million for the three and nine months ended September 30, 2025, in each case from related parties. |
| (3) | Includes $1.8 million and $5.4 million of interest expense for the three and nine months ended September 30, 2026, and $1.4 million and $2.2 million for the three and nine months ended September 30, 2025, in each case from a related party. |
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