Good day, everyone, and welcome to the Algorhythm Holdings Full-Year 2025 Financial Results Earnings Call. My name is Elvis and I'll be your operator today. As a reminder, this call is being recorded. We have a brief safe harbor statement that will begin. This call contains forward-looking statements under U.S. Federal Securities Laws. These statements are subject to risks and uncertainties that could cause actual results to differ materially from historical experience or present expectations. A description of some of these risks and uncertainties can be found in the reports filed with the Securities and Exchange Commission, including the cautionary statement provided in our current and periodic filings. Now, I'll turn the call over to your host, Gary Atkinson, company CEO. Please go ahead, Gary. Thank you. Good morning, ladies and gentlemen, and thank you for joining our 2025 Year-End Earnings Call. My name is Gary Atkinson, CEO of Algorhythm Holdings, and I'm joined this morning by our CFO and General Counsel, Alex Andre. We're excited to share the momentum behind SemiCab, our AI-powered logistics platform, and the significant traction that we've gained this year. Over the past six weeks, we've seen an extraordinary surge in attention, both from the media and from within the logistics industry, all around our technology and its potential to solve one of freight's most persistent and costly problems today, which is empty miles. This wave of exposure has accelerated our commercial sales pipeline, attracted industry veterans to our company, and expanded our reach to key enterprise decision-makers at a scale that we had never anticipated. Before diving into updates, I want to briefly reframe the core problem that we've been setting out to solve and why we believe SemiCab is positioned to lead the next wave in freight technology. Firstly, the global truckload market is the backbone of the world's economy. It is estimated to be a $3 trillion a year industry. However, it's still very deeply inefficient. Today, roughly one in every 3 mi that a truck drives is driven empty, resulting in close to $1 trillion in avoidable waste and inefficiency every year. The SemiCab platform is purpose-built to address this problem. Our collaborative AI platform continuously optimizes freight movement across multiple enterprises using our core planning, predicting, and execution engine to build continuous movements, or as we call round trips, to reduce waste. Finally, we've been seeing the results. In a real-world production environment, we've shown that we can reduce empty miles by more than 70%, and we have the capability to handle 4 x the freight volume without adding any additional headcount when compared to traditional freight brokers. Put simply, we're building a platform that can reshape how $3 trillion of freight flows globally, eliminating up to $700 billion in inefficiency. It's very rare to find a solution that simultaneously helps shippers save money, improves fleet utilization for carriers, and can reduce carbon emission for the environment. This is the kind of systemic change that SemiCab can enable. I believe we're on the verge of a larger shift that is starting to take place. A movement towards freight as an orchestrated network, as opposed to the current environment of freight as a series of independent transactions. I will talk briefly about some of the growth and some of the full-year highlights and then turn the call over to Alex, who will then discuss the financial results. In 2025, we secured four new Fortune 500 clients in India and converted five pilot programs into multi-million dollar contract expansions. That momentum has pushed our annualized revenue run rate to nearly $10 million by year-end, and it is already meaningfully higher in the first quarter of 2026. In addition to that, during the first quarter of 2026, we have already achieved two new customers, MTR Foods and Coca-Cola India, plus an additional contract expansion in India. To date, every single one of our pilot customers that has joined our network has come back to us looking for an expansion. Whether it's a geographic expansion through more lanes or more volume. These expansions are driven by real, recurring demand from globally recognized shippers. The shift from pilot to scale is accelerating, and we expect this trend to continue. With that, I'll now turn the call over to Alex, who will now walk you through some of the results for the 2025 year. Go ahead, Alex. Thank you, Gary. Hello, everyone. The annual report that we filed with the SEC earlier this morning presented our financial results for the years ended December 31st, 2025 and 2024. Our 2025 financial results were heavily impacted by two major transactions that we completed this year. First, on May 2nd, we acquired SMCB Solutions Private Limited, which owns and operates our SemiCab India business segment. The financial results of SMCB are reflected in our financial statements for the period of May 2nd, 2025 through December 31st, 2025. Second, on August 1st, we sold our legacy consumer electronics business. Under applicable GAAP provisions, we reflected all financial results attributed to the consumer electronics business as discontinued operations in our financial statements. As a result, our balance sheet, income statement, and statement of cash flows only reflect the financial results of our continuing operations, including the operations of SemiCab. The financial results of the consumer electronics business for all periods reported in our financial statements are reflected in select line items referencing discontinued operations. Moving on to our 2025 financial results. Sales for the year ended 2025 increased 1,370% to $4.4 million from $300,000 last year, primarily due to the acquisition of SemiCab's Indian subsidiary, SMCB, on May 2nd. During the eight months that we owned it during 2025, SMCB—SemiCab India delivered $4.4 million of revenue. SemiCab's legacy U.S. business was responsible for $300,000 of revenue that we generated during 2024. We've recently announced that SemiCab's annualized revenue run rate had increased to almost $10 million during December 2025. During the next 12 months, we expect our revenue to increase substantially with SemiCab's annualized revenue run rate expected to increase to between $15 million and $20 million by the end of 2026. This will be largely attributable to growth in our SemiCab India managed services business, but will also reflect some revenue that we expect to begin generating from SemiCab's new SaaS business that we announced this past fall. Gary will discuss each of these business segments further later during this call. Gross loss for 2025 was $1.3 million, compared to $194,000 last year. Gross loss is a function of the revenue that SemiCab generates from the managed services that it provides in India, and the freight handling and servicing costs that comprise its cost of sales that it incurs in connection with the provision of those services. Under the managed services model, SemiCab pays for access to trucks and generates revenue by using these trucks to complete shipments for its customers. It enters into contracts for access to trucks when it enters new territories in India, then begins generating revenue in these territories as it acquires customers there and is awarded more routes. It takes time for SemiCab to acquire customers and expand its routes to fully utilize trucks that it has under contract. During this time, SemiCab incurs costs for the trucks that it has under contract, while its revenue scales more gradually as it begins to acquire customers. Consequently, gross margins are negative. As it obtains customers in these territories and is awarded more routes from its customers, SemiCab more fully utilizes the trucks it has under contract. As the truck utilization rate increases, a greater amount of revenue is generated by the trucks, spreading a larger revenue base over the relatively same cost of the trucks it is using in these territories. As the network matures in each region and the truck utilization rate improves, the growth in revenue begins to outpace the increases in trucking costs. This drives a sharp improvement in gross margins. We view this initial ramp-up period as a necessary investment in long-term scale and profitability. We expect gross loss as a percentage of revenue to decrease over the next 12 months as the growth in revenue that SemiCab generates from obtaining new customers and routes exceeds the increase in cost of sales that it incurs as it enters into contracts for access to additional trucks. Operating expenses for 2025 decreased almost 20% to $6.6 million from $8.2 million last year. The decrease was due primarily to a decrease of $3.6 million for impairment of goodwill that we recorded during 2024, partially offset by an increase of $2 million in general and administrative expenses. We expect general and administrative expenses to increase over the next 12 months as we continue to invest in the growth and development of our SemiCab business. Net loss from continuing operations for 2025 decreased $3.7 million to $15.2 million from $18.9 million last year. Of these amounts, $6.5 million of our 2025 net loss and $8.9 million of our 2024 net loss consisted of 1x non-cash charges for warrants that we previously issued in capital-raising transactions. The decrease in net loss from continuing operations was due primarily to an increase of $5.2 million for cost of sales, partially offset by an increase of $4.1 million for revenue and a decrease in other expenses. We expect our net loss from continuing operations to decrease over the next 12 months due to the previously described increase in revenue that we anticipate generating and our expectation that we will not incur any future losses related to warrant issuances. However, we expect this decrease to be partially offset by increases in the expenses we will incur in connection with the growth and development of our SemiCab business. Finally, we are pleased to report that our balance sheet has strengthened significantly over the past 12 months. We had cash on hand of $6.1 million at December 31st, 2025, and had $10.9 million of cash on hand as of March 25th, 2026, putting us in a strong cash position to support the growth and development of our business for the remainder of 2026. Additionally, we reduced our liabilities by almost 50% between December 31st, 2024 and December 31st, 2025 through our reduction of our outstanding warrant liabilities. This reduction in our liabilities substantially improved our ratio of liabilities to total assets on our balance sheet. That concludes my overview of our 2025 financial results. Gary? Thank you, Alex. Before I open it up for questions, I want to draw a distinction between our two complementary business models. First, we have our managed services business in India, and second, we have our recently announced Apex platform, which is our global SaaS offering. Our managed services business in India, as Alex mentioned, is generating all of our revenue today. There, we work with the India business segments of notable enterprise shippers such as Procter & Gamble, Unilever, Kellogg's, and recently announced Coca-Cola. In this managed services model, we don't own any of the trucks or employ any of the drivers. We act as a virtual carrier, sourcing trucks and directing their continuous movements through our platform. Contrast that with the new SemiCab Apex platform. We're bringing the same multi-enterprise network model directly to shippers and to 3PLs worldwide through a scalable technology-first subscription model. Apex differs from managed services in the sense that it is high margin and asset light. It delivers recurring SaaS revenue with strong gross margins. It's also very easily globally deployable. It's relevant wherever empty miles are a problem, which is everywhere. It's also very easy to implement, and this is an extremely important point. We are not a TMS system. The SemiCab platform sits adjacent to existing TMS systems and can be integrated simply without a heavy IT lift. I believe Apex represents our future. It's a platform capable of powering millions of loads while saving shippers' money, keeping carriers' trucks fully utilized, and reducing unnecessary fuel consumption and reducing CO2 emission. We're laying the groundwork to generate recurring platform fees on every optimized truck movement across every geography. We're excited for what lies ahead, and we're grateful for all of your continued support. With that now, I'd like to turn the call over for any questions. If you'd like to ask a question, please press star one on your phone now, and you'll be placed into the queue in the order received. Again, everyone, star one for a question, and we'll pause briefly to form our queue. Our first question today comes from Theodore O'Neill of Litchfield Hills Research. Please go ahead. Okay, thanks very much. Gary, on the SaaS business, can you give us some high-level overview of what the pipeline into that looks like, inquiries, and if you're building a dedicated sales team to support that product? Yeah. Thanks, Theodore. I appreciate that question. You know, clearly, with all of the recent media attention that we've received over the last month and a half or so, it's been really transformative for the business. Not just from a visibility perspective, but we're now talking to some of the largest logistics service providers in the world. I mean, these are some of everyday household brands that are delivering packages to everybody's front door. Speaking with key C-level decision-makers that I think, quite frankly, you know, probably wouldn't have been talking to us months ago. The attention has been profound to what it is able to do for our SemiCab Apex platform, and that's really what makes me the most excited. We have a very strong pipeline now of commercial sales opportunities with some of these largest LSPs. Now, that being said, you know, these guys, they don't move quickly, right? These are not the types of companies that will be turning around and jumping into commercial agreements that quickly. These are sort of medium-term opportunities that are in the pipeline. Those are the types of deals and agreements that I think will be just transformative, particularly as we're talking about the Apex SaaS platform with all of these guys. You know, the margin profile, I think that was part of your question, is definitely materially different from what we see in managed services. You know, with Apex, we're looking at closer to the traditional 90% SaaS margin, and it can scale very quickly. Hopefully that answered your question, Theodore. What about a dedicated sales team for this? Yeah. That's the other advantage that we've seen here over the last few weeks, is we've actually had quite a strong inbound flow of communication from some industry executives that had seen all of the media attention. You know, these are guys that have been inside the industry long enough where they've been. You know, they've seen how inefficient this empty miles problem is. I know a lot of different technology companies over the last 10-15 years, they've been trying to solve this problem. I think for a lot of these guys, it's been sort of a passion project. When they saw what we've been doing and having conversations with Ajesh and Vivek, the founder and co-founder of SemiCab, and had a chance to do a demo of the platform, we've been able to attract some really high-caliber talent to the company to help lead up some of the sales efforts. Again, these things take time, but we're very, very optimistic about where the Apex platform can go here in the near-term future. Okay. My other question, the question I have for you is on the restricted cash, what are the restrictions there, and how do you access that? Yeah. Do you wanna tackle that, Alex? Sure. The restricted cash consists of some of the cash that we received from Streeterville, and it's being held in a reserve account until such time as they are able to purchase securities from us. As that occurs, these funds get released to us. They have been releasing those funds to us over time since we first engaged in that transaction back in November. Okay, thanks very much. Sure. Thanks, Theodore. From Chardan Capital Markets, we have Jim McIlree. Thank you. Good morning. You mentioned that it'll take some time to roll out Apex, and I'm curious about two things. One, if you can put a range around how much time you think it'll take for customers to roll it out. Secondly, maybe more importantly, what are the obstacles or objections that the customers have? Do they require to test it for some short or extended period of time? Can it only work on certain vehicles? Are they concerned about service and support? Are they concerned about your balance sheet? Just general things like that. What are the customers, the pipeline customers worried about before they- Yeah. Yeah, no, that's a great question. I appreciate that, Jim. I think I wanna clarify something because I know that there's been a bit of a misconception too. In terms of the Apex platform, it's already rolled out. It's already developed. It's the product itself is available today for customers to utilize. As I mentioned in my prepared remarks earlier, it's not a TMS system, so we're not talking about a long, multi-month, expensive integration cycle to get the platform up and working. It's a relatively light, TMS-adjacent platform that's cloud-based that customers can basically connect to through some simple APIs. This is not a technology restraint in terms of having customers use it. It's really more of a commercial agreement cycle that has to happen. I will say that we've had strong engagement and strong response. I think, you know, part of what our sales cycle looks like is when we engage with prospective customers, we ask them for real historical shipping data, you know, whether it's six months or a year of data. Then we basically take that data, and we have our SemiCab AI optimizer engine that just ingests all of that load data into it. Then it's able to spit out and say, "Look, if this customer had given us all of their shipping shipping loads over that period of time, we could have, you know, saved X million number of miles. We could have driven down their freight spend by, you know, X millions of dollars, over that period." We basically bundle all of that data back up, and we give it back to the customer. That's really been, I think, a very profound selling tactic that, it's hard. You know, it's hard for a shipper to ignore those types of cost savings that could be, accessible to them without any loss of service. You know, it's not like they would see any, degradation in service in terms of pickups or deliveries. It's the same, quality of service that they would be used to seeing, but just done more efficiently. It's been, I think, I'm not gonna say an easy sell, but it's becoming easier. One thing I will say, though, that has been, I think, probably the best takeaway from all of this media attention is, you know, I remember I went to a conference back in January. It was a large logistics conference, and we were there pitching and doing demos of our SemiCab platform. You know, when we would engage with customers and we'd start talking about multi-network or multi-enterprise collaborative shipping networks, you know, I could just see their eyes glaze over. You know, it was almost dismissed as being too theoretical. I think now what we're seeing after all the recent media attention is people are really now when people within industry are now looking at our platform and saying, "Yes, like, we think that the multi-enterprise network is kind of the next key change. It's the next step up in where freight technology is going." There's kind of been a broader kind of acceptance and adoption around what we're doing, whereas before it was just perceived as maybe being too theoretical. It certainly helped just the industry-wide perception as to what we're doing. Hopefully that answers some of your questions, Jim. Yes, it does. Can I just press you a little bit on timing in terms of what you think the customers might require for their testing before they roll out? Because I'm assuming they're gonna test it first. They would test it for a month, six months, or is that discussion taking place yet? Well, yeah. I mean, I think it's hard to give a broad. Like, it's not a one-size-fits-all response. I think every customer, depending on how large or small they are, will have different appetites. I mean, certainly when you're dealing with, let's say, a top five logistics service provider in the world that's multi-billions of dollar market cap, they're gonna be a little bit more cautious. They're gonna take a little bit more time. They're gonna test. The nice thing about our platform is we can enable sort of this concept of a private cloud network and a public cloud network. If we're dealing with a large enterprise shipper that has their own dedicated fleet, where they own their own assets, we can basically open up a private cloud for them. They can put all of their own assets on that network, and it's completely private. You know, it's not open to what anybody else can see. What we've seen there is that you'd be shocked, or at least I've been shocked, at just how much inefficiency can happen within a large Fortune 500 shipper that's moving consumer goods all over the country. There's a tremendous amount of opportunities to make them more efficient. It's really hard for me to give you kind of an exact timeline just because we don't have anybody that's sitting there with, you know, pen in hand, ready to sign contracts today. There are many conversations that are ongoing. They're all, I think, very optimistic, and I think every customer is going to have a different approach as to how quickly they want to jump in. It's just hard to give a date. Okay. Thank you. Appreciate it. Thanks, Jim. Next, we'll hear from Brian Kinstlinger. Gary, good morning. Hey, morning, Brian. Hey, you've really addressed my initial question. Just I guess sort of a follow-up on a few things you said. Obviously, there's been significant media attention, which is great, and you've also seen the dramatic increase in your cash position. As you think about the next 12-24 months or so, you know, what are maybe one or two key drivers that you believe could have the biggest impact on future revenue growth? Well, yeah, that's a great question, Brian. I appreciate that. I think obviously a lot of the questions that have touched on here is sort of the SaaS model and how quickly we can turn on that high-margin business. I think internally, that's the thing that I know we're all excited about, that the SemiCab team is excited about. That's where we're investing into sales channels and pipelines and hiring people to support those types of SaaS opportunities and partnerships. That's the one thing that I think I would encourage everybody to be looking out for, and that's where we're going to be driving most of our attention is let's start landing some SaaS contracts. You know, that's what we're trying to do here. That's going to be what I believe to be transformative to the financial profile of the business, right? I mean, that's recurring revenue, much higher multiples, and it's sticky. I believe that when a customer starts utilizing this, I mean, when we say to a customer we can reduce their empty miles by upwards of 70%, that's for anybody inside the industry like jaw-dropping type of numbers. I mean, we've seen it now where we've had some lanes where empty miles have been 10% or less. So when you take that type of technology and you get it into an enterprise customer that has huge scale, I mean, the amount of efficiency opportunities and savings is just really mind-blowing. I think the platform has a lot of blue sky to capture all that. I think there's a tremendous amount of value that can get unlocked here. You know, we're still in the early stages. We're probably in the first or second inning. Again, I just think there's just a lot of excitement and enthusiasm around what this technology can unlock. Excellent. That's helpful. Thank you for the question, and congrats. Thanks, Brian. That concludes our question and answer session. Gary, back over to you for any additional or closing comments. Okay. Perfect. Well, again, I want to thank everybody for taking the time today to learn more about Algorhythm Holdings and doing a deeper dive into our 2025 year-end financial results. Also, particularly appreciate all the good questions today. We've just recently concluded our first quarter, ended March 31, and we'll be looking forward to sharing all of those results with you all next month. Take care, everybody. Thank you, and we'll talk again soon. That concludes our meeting today. You may now disconnect.