The Singing Machine Company
MICS

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MICS changed its ticker symbol to RIME

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About: Singing Machine Co Inc is engaged in the development, production, marketing and distribution of consumer karaoke audio equipment, toy products, accessories, music, and audio consumer electronic products. It contracts for the manufacturing of all its electronic equipment products with factories located in China. The company has also collaborated with a music content service provider that allows the company to offer karaoke downloads and streaming subscription services. This collaboration provides the company with a distribution platform for digital music sales and subscriptions and music sales to customers. Geographically, it derives a majority of revenue from North America and also has a presence in Europe; Asia, and Australia.

Employees: 37

Consumer Discretionary Phonograph Records & Prerecorded Audio Tapes & Disks

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

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

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

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

Singing Machine Launches Official TikTok Shop

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

Singing Machine Launches Official TikTok Shop

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

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

Singing Machine Completes Acquisition of Leading AI Logistics Company

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

Singing Machine to Acquire SemiCab, a Leading AI Logistics Technology 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

Company Announces Strategic Alternatives

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

Singing Machine Secures $2 Million Senior Credit Facility

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

Company Generates Record Subscriptions Sales for 2023 Holiday Season

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

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

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

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