RYM

MKT CAP:$61M

RYTHM, Inc.

Market Cap

$61M

Industrials·Agricultural - Machinery·🇺🇸 United States·NASDAQ

Industrials·Agricultural·🇺🇸·NASDAQ

Stock Price

$26.35+$4.26 (+19.28%)

Apr 15, 2026

Company Details

RYTHM, Inc. provides solutions for the cannabis and hemp industry in the United States. It offers consumers hemp-derived tetrahydrocannabinol beverages under the Señorita brand name. The company was formerly known as Agrify Corporation and ...

CEO

Benjamin Kovler

IPO Date

Jan 28, 2021

Website

agrify.com

Key Metrics TTM

Revenue

$17M

+119.3% YoY

Net Income

-$50M

EPS (Diluted)

-$19.17

Free Cash Flow

-$26M

Revenue / Share

$8.47

Gross Margin

14.4%

Operating Margin

-146.0%

Net Margin

-288.9%

FCF Margin

-146.8%

P/S

3.5x

P/E

—

Earnings Reports

FY 2025

Mar 3, 2026

$17M+78.5%EPS -$16.68

Q4 2025

Mar 3, 2026

$11M+394.9%EPS -$6.62

Q3 2025

Nov 7, 2025

$4M+109.0%EPS -$5.33

Q1 2025

May 9, 2025

$538.0KEPS -$0.83

FY 2024

Mar 21, 2025

$10M-36.1%EPS -$40.92

Revenue & Profitability

Quarter	Revenue	Gross Profit	Operating Income
Q2 21	$12M	$527.0K	-$5M
Q3 21	$16M	-$380.0K	-$10M
Q4 21	$25M	$6M	-$13M
Q2 22	$19M	$2M	-$92M
Q3 22	$7M	-$4M	-$32M
Q4 22	$6M	-$33M	-$60M
Q1 23	$6M	$988.0K	-$8M
Q2 23	$5M	$600.0K	-$5M
Q3 23	$3M	$974.0K	-$5M
Q4 23	$3M	$3M	-$1M
Q1 24	$0	$0	$353.0K
Q3 24	$2M	$225.0K	-$4M
Q4 24	$2M	-$852.0K	-$8M
Q1 25	$538.0K	$90.0K	-$4M
Q3 25	$4M	-$420.0K	-$9M
Q4 25	$11M	$4M	-$4M

Valuation

Quarter	P/S	P/E
Q2 21	2.4x	—
Q3 21	1.6x	—
Q4 21	1.0x	—
Q2 22	0.8x	—
Q3 22	0.9x	—
Q4 22	1.1x	—
Q1 23	1.6x	—
Q2 23	2.6x	—
Q3 23	3.1x	—
Q4 23	3.6x	—
Q1 24	5.5x	—
Q3 24	7.7x	—
Q4 24	8.8x	—
Q1 25	13.2x	—
Q3 25	7.1x	—
Q4 25	3.5x	—

Operating Cash Flow

Quarter	Operating CF	Free CF
Q2 21	-$7M	-$8M
Q3 21	-$4M	-$6M
Q4 21	-$13M	-$11M
Q2 22	-$20M	-$25M
Q3 22	-$8M	-$6M
Q4 22	-$6M	-$6M
Q1 23	-$9M	-$10M
Q2 23	-$2M	-$2M
Q3 23	-$14M	-$14M
Q4 23	-$5M	-$5M
Q1 24	-$3M	-$3M
Q3 24	-$1M	-$1M
Q4 24	-$5M	-$5M
Q1 25	-$7M	-$7M
Q3 25	-$5M	-$5M
Q4 25	-$3M	-$8M

Capital Expenditures

Quarter	CapEx
Q2 21	$960.0K
Q3 21	$2M
Q4 21	$1M
Q2 22	$5M
Q3 22	$1M
Q4 22	$132.0K
Q1 23	$59.0K
Q2 23	$1.0K
Q3 23	$1.0K
Q4 23	$0
Q1 24	$2.0K
Q3 24	$4.0K
Q4 24	$4.0K
Q1 25	$0
Q3 25	$0
Q4 25	$5M

CapEx

OpEx vs Revenue Growth (YoY)

Quarter	Revenue Growth	OpEx Growth
Q2 21	+202.6%	+171.9%
Q3 21	+459.9%	+373.4%
Q4 21	+480.6%	+354.5%
Q2 22	+175.8%	+721.0%
Q3 22	-40.6%	+123.5%
Q4 22	-62.6%	+159.7%
Q1 23	-77.0%	-65.3%
Q2 23	-73.8%	-90.6%
Q3 23	-55.3%	-80.0%
Q4 23	-51.5%	-93.5%
Q1 24	-100.0%	-102.6%
Q3 24	-61.8%	-46.2%
Q4 24	-31.4%	+35.8%
Q1 25	-81.2%	-2.1%
Q3 25	—	+3763.2%
Q4 25	+451.2%	+170.4%

Stock-Based Compensation

Quarter	SBC ($)	% of Revenue
Q2 21	$931.0K	7.9%
Q3 21	$0	0.0%
Q4 21	$0	0.0%
Q2 22	$940.0K	4.9%
Q3 22	$0	0.0%
Q4 22	$781.0K	13.3%
Q1 23	$859.0K	14.8%
Q2 23	$752.0K	14.8%
Q3 23	$0	0.0%
Q4 23	$527.0K	18.4%
Q1 24	$490.0K	—
Q3 24	$283.0K	14.6%
Q4 24	$311.0K	14.4%
Q1 25	$589.0K	109.5%
Q3 25	$0	0.0%
Q4 25	$545.0K	5.1%

OpEx Breakdown

Quarter	R&D	G&A	S&M	SG&A
Q2 21	$774.0K	$4M	$782.0K	—
Q3 21	$827.0K	$8M	$890.0K	—
Q4 21	$1M	—	—	$16M
Q2 22	$2M	$19M	$2M	—
Q3 22	$2M	$24M	$2M	—
Q4 22	$2M	$20M	$3M	—
Q1 23	$735.0K	$7M	$2M	—
Q2 23	$643.0K	$5M	$1M	—
Q3 23	$486.0K	$4M	$812.0K	—
Q4 23	$431.0K	$3M	$612.0K	—
Q1 24	$275.0K	—	—	$2M
Q3 24	$168.0K	$3M	$348.0K	—
Q4 24	$115.0K	—	—	$1M
Q1 25	—	—	—	$4M
Q3 25	—	—	—	$8M

War Chest

Quarter	Cash	Short-term Investments	Total
Q1 22	$25M	$38M	$63M
Q2 22	$49M	$11M	$60M
Q3 22	$12M	$381.0K	$13M
Q4 22	$10M	$460.0K	$11M
Q1 23	$1M	$4.0K	$1M
Q2 23	$308.0K	$4.0K	$312.0K
Q3 23	$154.0K	$4.0K	$158.0K
Q4 23	$434.0K	$0	$434.0K
Q1 24	$95.0K	$4.0K	$99.0K
Q2 24	$53.0K	$4.0K	$57.0K
Q3 24	$263.0K	$4.0K	$267.0K
Q4 24	$31M	$0	$31M
Q1 25	$24M	$0	$24M
Q2 25	$41M	$0	$41M
Q3 25	$36M	$0	$36M
Q4 25	$32M	$0	$32M

Shares Outstanding

Quarter	Shares (Diluted)	QoQ Change	YoY Change
Q2 21	7K	+0.4%	+0.4%
Q3 21	7K	+4.4%	+4.8%
Q4 21	7K	+4.4%	+9.4%
Q2 22	9K	+19.7%	+31.0%
Q3 22	9K	+0.5%	+31.1%
Q4 22	69K	+677.7%	+876.7%
Q1 23	71K	+3.3%	+865.8%
Q2 23	103K	+44.5%	+1066.0%
Q3 23	110K	+6.5%	+1135.6%
Q4 23	110K	0.0%	+58.9%
Q1 24	1M	+1109.9%	+1761.5%
Q3 24	1M	-19.0%	+943.2%
Q4 24	2M	+81.1%	+1674.9%
Q1 25	2M	-0.0%	+1674.9%
Q3 25	2M	+2.6%	+50.5%
Q4 25	2M	+2.6%	+90.6%

Shares Outstanding

Revenue Per Employee

Period	Revenue/Employee	Employees
Q2 21	$159.8K	74
Q3 21	$212.9K	74
Q4 21	$179.3K	141
Q2 22	$137.1K	141
Q3 22	$49.8K	141
Q4 22	$81.8K	72
Q1 23	$80.6K	72
Q2 23	$70.4K	72
Q3 23	$43.6K	72
Q4 23	$73.3K	39
Q1 24	$0	39
Q3 24	$49.6K	39
Q4 24	$195.8K	11
Q1 25	$48.9K	11
Q3 25	$367.5K	11
Q4 25	$1M	9

Revenue / Employee