Income statement, balance sheet and cash flow statement for the last 6 fiscal years, taken from the XBRL data RYTHM, Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Revenue
12.1
59.9
58.3
15.1
0.02
17.3
Cost of revenue
11.5
54.6
90.1
11.1
0.09
7.09
Gross profit
0.57
5.23
-31.8
4.02
-0.07
10.2
Research and development
3.35
3.93
8.18
2.3
0.74
Selling, general and administrative
9.83
30.8
73.4
16.1
7.18
34.1
Selling and marketing
4.16
9.34
4.13
General and administrative
73.4
19
Operating expenses
13.2
40.3
162
17
5
42.5
Operating income
-12.6
-35.1
-193
-13
-5.07
-32.3
Interest expense
1.2
3.4
0.16
4.1
Interest income
0.23
Other non-operating income
-9.02
2.77
5.04
-0.4
-18.2
-2.4
Pre-tax income
-21.6
-32.3
-188
-13.4
-23.2
-34.7
Income tax
0.03
0.02
0
-0
Net income to minority interests
-0.02
0.14
-0.13
-0
Net income
-21.6
-32.5
-188
-18.6
-41.7
-33.3
EBITDA
-12.2
-33.8
-190
-11.1
-3.65
-26.2
EPS, basic
-79.80
-25.35
-13,532.00
-187.64
-40.92
-16.68
EPS, diluted
-79.80
-25.35
-13,532.00
-187.64
-40.92
-16.68
Shares, basic (weighted)
0.28
0.01
0.01
0.1
1.02
1.99
Shares, diluted (weighted)
0.28
0.01
0.01
0.1
1.02
1.99
Balance sheet
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Cash and equivalents
8.11
12
10.5
0.43
31.2
32.2
Short-term investments
44.6
0.46
0
Receivables
4.01
3.5
1.07
0.86
0.03
9.32
Inventory
5.17
20.5
21.4
4.98
0.5
4.05
Other current assets
0.36
2.45
1.51
1.89
0.4
1.97
Total current assets
18.6
86.7
44.9
24
34.7
47.6
Property, plant and equipment
0.87
6.23
10
0.6
0.19
Lease right-of-use assets
1.48
2.21
0.52
0.5
Goodwill
0.63
50.1
9.71
9.71
Intangible assets
1.69
14.1
2.21
8.9
Other non-current assets
0.09
1.18
0.33
0.03
0.03
Total assets
21.8
182
69.7
45.3
54
107
Accounts payable
0.69
9.15
20.5
4.39
0.83
2.34
Accrued liabilities
6.55
9.2
0.24
2.18
Deferred revenue
0.15
3.77
4.11
3.01
2.53
Short-term debt
1.1
32.7
21.3
0.52
3.62
Total current liabilities
27
43.6
70.6
41.2
24.7
43
Long-term debt
0.83
0.01
0.41
16
0
5
Lease liabilities
0.7
1.59
0.33
0.26
Other non-current liabilities
0.44
0.32
0.15
Total liabilities
28.3
44.6
78.7
60
25.9
93.7
Total debt
0.83
0.01
0.41
16
10.5
80.6
Paid-in capital
19.8
196
238
251
335
354
Retained earnings
-26.5
-59
-247
-266
-307
-341
Shareholders' equity
-6.68
137
-9.27
-14.7
28.1
13
Minority interests
0.23
0.37
0.23
0.23
0.23
Total equity
-6.45
137
-9.04
-14.7
28.1
13
Total liabilities and equity
21.8
182
69.7
45.3
54
107
Shares outstanding
0.28
0.01
0.07
0.11
1.95
2.15
Cash flow statement
FY2021
FY2021
FY2022
FY2023
FY2024
FY2025
Net income
21.6
-32.3
-188
-18.7
-41.7
-33.3
Depreciation and amortization
0.41
1.31
3.05
1.9
1.42
6.16
Stock-based compensation
0
4.32
2.66
1.17
2.16
Deferred income tax
0.03
0.02
Change in receivables
-3.71
-3.39
1.54
1.35
0.65
-1.79
Change in inventory
-2.94
-6.57
-30.2
17.2
8.34
-2.89
Change in payables
-0.53
1.13
11.2
-4.47
1.26
-3.83
Cash from operations
-14.8
-30.1
-72
-31
-11.6
-23.5
Capital expenditures
-0.14
-2.22
-8.13
-0.06
-0
Acquisitions
-1.09
-35.9
-3.52
Purchases of investments
-295
Sales and maturities of investments
17.7
329
10.5
Cash from investing
-1.23
-105
-2.32
25.2
-0.05
-55.1
Debt issued
0.16
3
Debt repaid
-35.5
-10.3
Stock issued
0.04
2.13
25.8
1.55
0.35
Dividends paid
-0.58
-0.06
Cash from financing
23.9
139
72.8
-4.23
42.4
79.7
Net change in cash
7.91
3.9
-1.56
-10
30.7
1.05
Free cash flow
-14.9
-32.4
-80.2
-31
-11.6
Interest paid
0.03
4.97
0.08
0.01
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to June 30, 2026; growth uses fiscal years. Valuation uses the share price of $21.76 on September 25, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
75.2%
Gross profit / revenue.
Operating margin
-46.9%
Operating income / revenue.
EBITDA margin
-22.7%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-58.7%
Pre-tax income / revenue.
Net margin
-6.2%
Net income / revenue.
Operating cash flow margin
2.5%
Cash from operations / revenue.
Return on equity (ROE)
-8.1%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-2.3%
Net income / average total assets.
Return on invested capital (ROIC)
-24.3%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
SG&A / revenue
105.5%
Selling, general and administrative expense / revenue.
Stock-based pay / revenue
4.3%
Stock-based compensation (from the cash flow statement) / revenue.
D&A / revenue
24.2%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
95,917.0%
Revenue vs the same period a year earlier. Only from a positive base.
Revenue CAGR, 3y
-33.3%
Compound annual growth of revenue over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Revenue CAGR, 5y
7.4%
Compound annual growth of revenue over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Gross profit CAGR, 5y
78.0%
Compound annual growth of gross profit over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Book value growth, 1y
-53.6%
Book value vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
97.5%
Total assets vs the same period a year earlier. Only from a positive base.
Total assets CAGR, 3y
15.2%
Compound annual growth of total assets over 3 fiscal years: (end / start)^(1/3) - 1. Only when both values are positive.
Total assets CAGR, 5y
37.3%
Compound annual growth of total assets over 5 fiscal years: (end / start)^(1/5) - 1. Only when both values are positive.
Share count change, 1y
95.4%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 3y
423.4%
Change in diluted weighted shares, per year over 3 years. Negative means buybacks shrank the share count; positive means dilution.
Share count change per year, 5y
48.3%
Change in diluted weighted shares, per year over 5 years. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
0.59x
Current assets / current liabilities.
Quick ratio
0.52x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.44x
(Cash + short-term investments) / current liabilities.
Debt / equity
2.06x
Total debt / shareholders' equity. Not shown when equity is negative.
Debt / assets
59.6%
Total debt / total assets.
Liabilities / assets
71.1%
Total liabilities / total assets.
Net debt
$38.7M
Total debt - cash - short-term investments. Negative means more cash than debt.
Days inventory + days sales outstanding - days payables.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$1.39
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$22.33
Revenue / diluted weighted shares.
Operating cash flow per share
$0.57
Cash from operations / diluted weighted shares.
Book value per share
$18.19
Shareholders' equity / shares outstanding (diluted weighted shares when not reported).
Market cap + total debt - cash - short-term investments.
P/S
0.94x
Market cap / revenue.
P/B
1.22x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
1.63x
Market cap / tangible book value, when positive.
P/OCF
36.9x
Market cap / cash from operations, when positive.
EV/Sales
1.70x
Enterprise value / revenue.
Earnings yield
-6.6%
Net income / market cap (the inverse of P/E).
What was RYTHM, Inc.'s revenue in fiscal 2025?
RYTHM, Inc. reported revenue of $17.3M for fiscal 2025, 95,916.7% higher than the year before.
Was RYTHM, Inc. profitable in fiscal 2025?
No. It reported a net loss of $33.3M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.