Algorhythm Holdings Sees 25% Sequential Revenue Growth in Q2 2026
Algorhythm Holdings, Inc., a leading AI technology company and provider of AI-powered logistics solutions, released its financial results for the second quarter ended June 30, 2026. The company reported revenue of $3.0 million, representing a 25% sequential increase from the previous quarter and a 161% year-over-year growth.
According to Gary Atkinson, Chief Executive Officer of Algorhythm Holdings, 'We are pleased with our second-quarter financial results, highlighted by continued strong sequential and year-over-year revenue growth.' The company's gross margin percentage improved by approximately 30% sequentially, and its cash and restricted cash totaled around $8.0 million as of June 30, 2026.
Algorhythm Holdings also announced several business highlights for the quarter, including expanding its relationship with Procter & Gamble India through an additional contract expansion, signing a new Master Services Agreement with Onida Electronics, and participating in Reuters Events: Supply Chain USA 2026 as a Gold Sponsor. The company's SemiCab Apex SaaS platform saw continued commercial expansion in North America.
Atkinson added that the company's focus will be on financial discipline, controlling costs, and reducing expenses where possible. Algorhythm Holdings is evaluating business and acquisition opportunities to enhance long-term shareholder value.