Singing Machine Co Inc

The Singing Machine Co., Inc. engages in the development, marketing, and sale of consumer karaoke audio equipment, accessories and musical recordings. Its portfolio of owned and licensed brands and products are organized into the following categories: Karaoke, Licensed Products, Microphones and Accessories, Singing Machine Kids Youth Electronics and Music Subscriptions. The company was founded by Eddie Steele in 1982 and is headquartered in Fort Lauderdale, FL.

Earnings data Q1 2023

Earnings data Q2 2023

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Algorhythm Holdings, Inc. engages in the development, marketing, and sale of consumer karaoke audio equipment, accessories and musical recordings. Its portfolio of owned and licensed brands and products are organized into the following categories: Karaoke, Licensed Products, Microphones and Accessories, Singing Machine Kids Youth Electronics and Music Subscriptions. The company was founded by Eddie Steele in 1982 and is headquartered in Fort Lauderdale, FL.

The Singing Machine Company, Inc. (NASDAQ:MICS ) Q2 2024 Earnings Conference Call August 19, 2024 4:00 PM ET Company Participants Gary Atkinson - Chief Executive Officer Richard Perez - Chief Financial Officer Bernardo Melo - Chief Revenue Officer Vivek Sehgal - Chief Product Officer, SemiCab Operator Good afternoon, everyone, and welcome to Singing Machine Second Quarter 2024 Financial Results Earnings Call. My name is Savannah, and I will be your operator.

The Singing Machine Company, Inc. (MICS) Q2 2024 Earnings Call Transcript

Fort Lauderdale, FL, Aug. 14, 2024 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (NASDAQ: MICS) -- the worldwide leader in consumer karaoke products -- today announced that its earnings for its second quarter of 2024 will be released Monday, August 19, 2024. The same day Management will host a conference call at 4:00 PM Eastern time to discuss the financial results and provide a business update. Management will also provide an update on the acquisition integration of SemiCab, an emerging AI-powered technology provider serving the global logistics space.

Singing Machine to Announce its Financial Results for the Second Quarter of 2024

Company Significantly Expands Socia Media-Based Marketing Capabilities Through New TikTok Shop Seller Storefront

Singing Machine Launches Official TikTok Shop

SemiCab India Expected to Add Over $9 Million in Revenue in 2024 Fort Lauderdale, FL, July 16, 2024 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine”) (NASDAQ: MICS) – the worldwide leader in consumer karaoke products, recently announced it has successfully completed the acquisition of SemiCab, Inc. (“SemiCab”), a leading artificial intelligence technology company in the global logistics space. Today, the Company provided an update on the integration process for the newly created operations under SemiCab Holdings, LLC.

Singing Machine's Subsidiary, SemiCab, Announces Over $9 Million Contracted Revenue Backlog

Company Now Well Positioned for Accelerated Revenue Growth Fort Lauderdale, FL, July 05, 2024 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine”) (NASDAQ: MICS) – the worldwide leader in consumer karaoke products, today announced it has successfully completed the acquisition of SemiCab, Inc. (“SemiCab”), a leading artificial intelligence technology company in the global logistics space. “We are very pleased to complete the acquisition of SemiCab,” commented Gary Atkinson, CEO of Singing Machine.

Singing Machine Completes Acquisition of Leading AI Logistics Company

SemiCab Generated $6 Million Revenue in 2023 Fort Lauderdale, FL, June 12, 2024 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine”) (NASDAQ: MICS) – the worldwide leader in consumer karaoke products, today announced it has executed a definitive agreement to acquire SemiCab, Inc. (“SemiCab”), a leading artificial intelligence technology company that optimizes freight for Fortune 1000 clients in the US and Indian markets. SemiCab's AI technology was developed specifically to build a hyper-efficient trucking network that operates at a 90%+ utilization level, well above the industry standard of 65%.

Singing Machine to Acquire SemiCab, a Leading AI Logistics Technology Company

Fort Lauderdale, FL, May 23, 2024 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine”) (NASDAQ: MICS) – the worldwide leader in consumer karaoke products, today announced its Executive Committee of the Board of Directors has authorized management to explore a range of potentially transformational corporate transactions. The primary purpose for this initiative is to explore transactions that can potentially create immediate, sustained shareholder value.

Company Announces Strategic Alternatives

Company Expands Non-Dilutive Working Capital Funding to Support Growth Fort Lauderdale, FL, April 03, 2024 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine”) (NASDAQ: MICS) – the worldwide leader in consumer karaoke products, today announced the closing of a $2 million senior credit facility with Oxford Commercial Finance, a subsidiary of Oxford Bank. The credit facility has a 2-year term and is intended to support the funding of accounts receivable generated from ongoing sales.

Singing Machine Secures $2 Million Senior Credit Facility

Karaoke Subscription Service Generated $3.28 Million in Sales, 35% Increase Year-Over-Year Fort Lauderdale, FL, Feb. 27, 2024 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or “the Company”) (NASDAQ: MICS) – the worldwide leader in consumer karaoke products, today announced a significant new milestone in its partnership with leading music, media and technology company, Stingray Group, Inc. (“Stingray”), for their shared karaoke subscription service. For 2023, the Stingray-Singing Machine subscription service generated a record $3.28 million in gross sales, representing a 34.8% increase over the prior calendar year subscription sales.

Company Generates Record Subscriptions Sales for 2023 Holiday Season

Stingray and Singing Machine partner to debut major new automotive capabilities at CES 2024 Fort Lauderdale, FL, Jan. 08, 2024 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine”) (NASDAQ: MICS) – the worldwide leader in consumer karaoke products, today announced a major new milestone in its partnership with leading music, media and technology company Stingray (TSX: RAY.A, RAY.B), to launch the next-generation karaoke experience for use in the automotive space. Singing Machine will be debuting the automotive karaoke experience at the Consumer Electronics Show in Las Vegas from January 9-12, 2024 by appointment only.

Singing Machine and Stingray Unveil New Karaoke Gaming & Scoring Capabilities Targeting the Automotive Market

Two Strategic Partners Invest In an Above-Market Transaction,Becoming the Second and Third Largest Shareholders. Fort Lauderdale, FL, Nov. 27, 2023 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (NASDAQ: MICS) -- the North American leader in consumer karaoke products -- today announced the closing of a $2.0 million private placement of shares of common stock of the Company.

Singing Machine Completes $2.0 Million Private Placement

Fort Lauderdale, FL, Nov. 21, 2023 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (NASDAQ: MICS) -- the North American leader in consumer karaoke products -- today released its results of operations for the three months ended September 30, 2023. Financial highlights are as follows:

Singing Machine Announces Results of Operations For Second Quarter Fiscal 2024

Fort Lauderdale, FL, Nov. 20, 2023 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (NASDAQ: MICS) -- the worldwide leader in consumer karaoke products -- today announced that its earnings for its second quarter fiscal 2024 will be released tomorrow, Tuesday November 21, 2023. The same day Management will host a conference call at 10:00 AM Eastern time to discuss the financial results and provide a business update.

Singing Machine to Announce its Financial Results for the Second Quarter Fiscal 2024

Fully Redesigned WiFi Streaming Karaoke Product DeliversBest in Class Upgrades and Capabilities for In Home Use Fort Lauderdale, FL, Sept. 11, 2023 (GLOBE NEWSWIRE) -- Th e Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (NASDAQ: MICS) -- the worldwide leader in consumer karaoke products – today launched its fully redesigned flagship karaoke machine in partnership with Costco North America in time for the upcoming holiday season.

Singing Machine Unveils New Flagship Karaoke Product for Holiday Distribution Nationwide with Costco

Fort Lauderdale, FL, Aug. 18, 2023 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (NASDAQ: MICS) -- the worldwide leader in consumer karaoke products -- today released its results of operations for the three months ended June 30, 2023. Financial highlights are as follows:

Singing Machine Announces Results of Operations for First Quarter of Fiscal 2024

Fort Lauderdale, FL, Aug. 17, 2023 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (NASDAQ: MICS) -- the worldwide leader in consumer karaoke products -- today announced that its earnings for its first quarter fiscal 2024 will be released tomorrow, Friday August 18, 2023. The same day Management will host a conference call at 5:00 PM Eastern time to discuss the financial results and provide a business update.

Singing Machine to Announce its Financial Results for the First Quarter Fiscal 2024

The stock of Singing Machine Co. Inc. MICS, -3.06%, a maker of Karaoke machines, soared 47% in premarket trade Tuesday, after the company said it has launched a new party accessory product line that's available at about 866 Walmart WMT, +0.12% stores across the U.S. The line features the latest party accessory from Fort Lauderdale, Fla.-based Singing Machine, the Celebration Mic which is aimed at children's parties.

Karaoke equipment maker Singing Machine's stock soars 47% as new party line available at 866 Walmart stores

Walmart Celebrations Party & Occasions Department to T est N ew Singing Machine Party Accessory in 866 S tores N ationwide

Singing Machine Announces Expanded Retail Presence with Walmart

The Singing Machine Company, Inc. (NASDAQ:MICS ) Q4 2023 Earnings Conference Call July 14, 2023 5:30 PM ET Company Participants Gary Atkinson - CEO & Chairman Lionel Marquis - CFO Bernardo Melo - VP of Global Sales and Marketing Conference Call Participants Operator Good afternoon, everyone, and welcome to the Singing Machine Fiscal 2023 Financial Results Earnings Call. My name is Travis and I'll be your operator.

The Singing Machine Company, Inc. (MICS) Q4 2023 Earnings Call Transcript

Fort Lauderdale, FL, July 14, 2023 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. ( the “Singing Machine” or the “Company”) (NASDAQ: MICS) -- the worldwide leader in consumer karaoke products -- today released its results of operations for the fiscal year ended March 31, 2023. Financial highlights were as follows:

Singing Machine Announces Financial Results for Full Fiscal Year Ended 2023

Fort Lauderdale, FL, July 13, 2023 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (NASDAQ: MICS) -- the worldwide leader in consumer karaoke products -- today announced that its earnings for its full fiscal year ended March 31, 2023 will be released at the close of market on Friday July 14, 2023. The same day Management will host a conference call at 5:30 PM Eastern time to discuss the financial results and provide a business update.

Singing Machine Announces Updated Time for Earnings Call

Fort Lauderdale, FL, June 29, 2023 (GLOBE NEWSWIRE) -- The Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (NASDAQ: MICS) -- the North American leader in consumer karaoke products -- today announced it has engaged Vendo Commerce (“Vendo”) to help maximize sales opportunities through Amazon's leading online platform. Vendo is a full-service digital growth company specializing in e-commerce strategies for Amazon and Walmart.com and is part of the PLTFRM group of companies.

Singing Machine Announces New Partnership with Vendo Commerce to Grow Amazon Sales

Fort Lauderdale, FL, June 08, 2023 (GLOBE NEWSWIRE) -- Singing Machine Company, Inc. (“Singing Machine” or the “Company”) (NASDAQ: MICS), the worldwide leader in karaoke products, announces a partnership between their new CARE-eoke by Singing Machine initiative and the Ryan Seacrest Foundation, with a joint mission to bring joy through music to children's hospitals nationwide. The Ryan Seacrest Foundation has built state-of-the-art broadcast media centers, named Seacrest Studios, in 12 children's hospitals, with two more slated to open later this year, and now they will feature official Singing Machine CARE-eoke programming for patients and their families to enjoy, as well.

CARE-EOKE BY SINGING MACHINE AND RYAN SEACREST FOUNDATION PARTNER TO BRING KARAOKE AND JOY THROUGH MUSIC TO CHILDREN'S HOSPITALS NATIONWIDE

Adjusted EBITDA for the Broadcasting and Commercial Music Division up by 40.6% in the fourth quarter. Adjusted EBITDA for the Broadcasting and Commercial Music Division up by 40.6% in the fourth quarter.

Stingray Reports Fourth Quarter and Full Year Results for Fiscal 2023

New Social Impact Initiative and Strategic Partnerships Aimed to Improve Mental and Physical Health, and Bring Joy Through Music to Seniors, Neurodiverse Populations, Workplace Wellness Programs and Local Communities Nationwide

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