Rythm, Inc.

Tobacco • Consumer Defensive • Troy, MI, United States • RYM (NCM)

855 420 0020 2468 Industrial Row Dr., Troy, MI 48084, United States

Quarter: Q4 2025 Reported: October 8, 2025 Sentiment: Neutral

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 changed its name to Agrify Corporation RYTHM, Inc. in August 2025. RYTHM, Inc. was incorporated in 2016 and is headquartered in Troy, Michigan.

Analysis Summary

RYTHM, Inc. (RYM), previously Agrify Corporation, filed a Form 8-K on October 8, 2025, to formally disclose the retrospective reclassification of its legacy Extraction Business as discontinued operations. This action, approved by the Board of Directors on March 30, 2025, is deemed a strategic shift with a major effect on the company's operations and financial results, meeting the criteria under Accounting Standard Codification (ASC) Topic 205-20. Consequently, the Extraction Business's assets, liabilities, and results of operations are now presented as discontinued operations in the company's consolidated financial statements for the fiscal years ended December 31, 2024, and 2023. This reclassification was initially reflected in the company's Quarterly Report on Form 10-Q for the period ended March 31, 2025. The 8-K includes updated sections of the FY 2024 Form 10-K (specifically Part II, Item 7 and Item 8) as Exhibit 99.1 to reflect these changes, emphasizing that this does not otherwise amend or restate the audited consolidated financial statements but rather re-presents them. It's crucial to note that this Form 8-K is a disclosure regarding accounting reclassification and a strategic business shift, and does not contain any new financial performance data, revenue figures, earnings per share, or forward-looking guidance specific to Q4 2025. Therefore, a comprehensive financial analysis of Q4 2025 performance, competitive positioning, or market trends cannot be derived from this document.

Key Highlights

• RYTHM, Inc. (formerly Agrify Corporation) reclassified its legacy Extraction Business as discontinued operations.
• The reclassification is a strategic shift with a major effect on the company's operations and financial results.
• Financial statements for FY 2024 and 2023 have been retrospectively re-presented to reflect this change.
• The Board of Directors approved the discontinuation on March 30, 2025.
• The company began presenting the Extraction Business as discontinued operations in its Q1 2025 Form 10-Q.
• Updated sections of the FY 2024 Form 10-K are provided as exhibits to reflect the reclassification.
• This Form 8-K does not contain Q4 2025 earnings results or forward guidance.

Financial Metrics

eps

N/A

YoY: Not applicable to this filing

revenue

N/A N/A

YoY: Not applicable to this filing

guidance

net income

N/A N/A

YoY: Not applicable to this filing

Stock Performance (90 Days)

Data through May 15, 2026

Positive Signals

• Decisive strategic shift to discontinue a non-core business segment.
• Proactive compliance with accounting standards (ASC 205-20) for financial reporting.
• Commitment to transparently update historical financial statements.
• Implied focus on remaining core operations post-discontinuation.

Risks & Concerns

— Potential for investor confusion or misinterpretation due to retrospective financial restatements.
— Uncertainty regarding the performance and profitability of the remaining core business segments.
— Costs and operational challenges associated with winding down or divesting the Extraction Business.
— Impact on future revenue streams and market position from the discontinued segment.