RYTHM Business Summary

RYTHM, Inc. (RYM), formerly Agrify Corporation, operates as a consumer-packaged goods (CPG) and brand licensing company specializing in the hemp-derived THC and cannabis sectors. The company generates revenue through two primary streams: the direct sale of hemp-derived THC products—including its flagship Señorita THC Margaritas, RYTHM Beverages, and incredibles edibles—and high-margin licensing fees from its portfolio of iconic brand intellectual property. Following a strategic pivot in late 2025, the company exited its legacy cultivation and extraction hardware business to focus on the rapidly expanding national hemp-THC beverage market, leveraging a retail footprint of over 6,000 locations including major chains like Circle K and Total Wine. RYTHM, Inc. competes directly with hemp-beverage leaders such as Cann, Mary Jones (Jones Soda Co.), and Tilray Brands, positioning itself as a premium, brand-led alternative that bridges the gap between traditional cannabis equity and mainstream retail distribution. The company is led by Chairman and Interim CEO Benjamin Kovler, a prominent cannabis industry figure who founded Green Thumb Industries (GTI) and holds an MBA from the University of Chicago Booth School of Business. Kovler brings a significant pedigree in the spirits and CPG sectors, descending from the family that revived the Jim Beam brand post-Prohibition. He is supported by CFO Brad Asher, who previously served as the CFO of multi-state operator AYR Wellness. The board of directors features notable industry and finance experts, including Armon Vakili (VP of M&A at Green Thumb), Sanjay Tolia (Founder of Bengal Capital), and independent music entrepreneur Peter Shapiro. Green Thumb Industries remains a key strategic investor and stakeholder, owning approximately 35% of the company and providing critical shared services and brand support as RYTHM, Inc. scales its national presence.