RYMHIGH SIGNALFINANCIAL10-K

RYM underwent a significant transformation through what appears to be a major acquisition or merger, with assets roughly doubling while equity was cut in half and the company name changing from Agrify Corporation.

The company completed a substantial restructuring that dramatically expanded its asset base and revenue profile while taking on considerable additional liabilities, suggesting either a major acquisition or business combination. The halving of stockholders' equity alongside the doubling of assets indicates this growth was debt-financed, creating a more leveraged capital structure that investors should monitor closely.

Comparing 2026-03-03 vs 2025-03-21View on EDGAR →
FINANCIAL ANALYSIS

RYM's financial profile transformed substantially, with assets roughly doubling to $107M and revenue growing meaningfully, while current liabilities increased significantly to $43M. Stockholders' equity declined by over half to just $13M, indicating the expansion was primarily debt-funded rather than equity-financed. Despite higher revenues, the company reduced R&D spending substantially and maintained significant operating losses, though net losses improved modestly to -$33M.

FINANCIAL STATEMENT CHANGES
Total Assets
Balance Sheet
+97.5%
$54.0M$106.7M

Asset base grew 97.5% — expansion through organic growth, acquisitions, or capital deployment.

Capital Expenditure
Cash Flow
-93.2%
$59K$4K

Capex reduced 93.2% — investment cycle winding down or capital discipline; may improve near-term free cash flow.

Dividends Paid
Cash Flow
-89.5%
$583K$61K

Dividends cut 89.5% — significant signal of cash flow stress or capital reallocation priorities.

Revenue
P&L
+78.5%
$9.7M$17.3M

Strong top-line growth of 78.5% — accelerating demand or successful expansion into new markets.

Current Liabilities
Balance Sheet
+74.1%
$24.7M$43.0M

Current liabilities surged 74.1% — significant near-term obligations; verify ability to meet short-term debt.

R&D Expense
P&L
-67.6%
$2.3M$743K

R&D spending cut 67.6% — could signal cost discipline or concerning reduction in innovation investment.

Stockholders Equity
Balance Sheet
-53.3%
$27.9M$13.0M

Equity declined sharply — large losses, buybacks, or write-downs reducing book value significantly.

Current Assets
Balance Sheet
+37.1%
$34.7M$47.5M

Current assets grew 37.1% — improving short-term liquidity or inventory/receivables build.

Net Income
P&L
+20.3%
-$41.7M-$33.3M

Net income grew 20.3% — bottom-line growth signals improving overall business health.

LANGUAGE CHANGES
NEW — 2026-03-03
PRIOR — 2025-03-21
ADDED
(Exact name of registrant as specified in its charter) Nevada 30-0943453 (State or other jurisdiction of incorporation or organization) (I.R.S.
There were a total of 2,149,148 shares of the registrant s common stock, par value $0.001 per share, outstanding as of March 3, 2026.
In addition, we own or have the rights to copyrights, trade secrets and other proprietary rights that protect the content of our products and that we license to others for use in their products.
Unless otherwise stated or the context otherwise requires, references in this report to RYTHM , the Company, we, us, our, or similar references mean RYTHM, Inc.
(formerly Agrify Corporation) (together with its subsidiaries, the Company or RYTHM ) delivers well-being to consumers through its portfolio of hemp-derived tetrahydrocannabinol ( hemp-derived THC ) products and iconic licensed brands.
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REMOVED
There were a total of 1,952,032 shares of the registrant s common stock, par value $0.001 per share, outstanding as of March 17, 2025.
Market for Registrant s Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 26 Item 6.
Management s Discussion and Analysis of Financial Condition and Results of Operations 27 Item 7A.
Changes In and Disagreements With Accountants on Accounting and Financial Disclosure 43 Item 9A.
Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 45 Item 13.
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