My Size(MYSZ)

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My Size(MYSZ) - 2024 Q4 - Annual Results
2025-03-28 20:15
UNITED STATES SECURITIES AND EXCHANGE COMMISSION Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 Date of Report (Date of earliest event reported): March 28 2025 MY SIZE, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation) (Commission File Number) Washington, D.C. 20549 FORM 8-K CURRENT REPORT Delaware 001-37370 51-0394637 (IRS Employer Identification No.) 4 HaNegev, POB 1026 Airport City, Israel 7010000 (Address of principal execu ...
MySize Reports 2024 Full-Year Financial Results: Revenue Grows 18% to $8.26 Million and Cash Reserves More Than Double
Prnewswire· 2025-03-28 12:30
Revenue increased to $8.26 million, up 18% year-over-year Cash and cash equivalents increased 123% to $4.88 million Shareholders' equity rose 46% to $6.91 million AIRPORT CITY, Israel, March 28, 2025 /PRNewswire/ -- MySize, Inc. (NASDAQ: MYSZ) (TASE: MYSZ.TA) ("MySize" or the "Company"), an omnichannel e-commerce platform and provider of AI-driven sizing solutions for the retail industry, today reported financial and operational results for the twelve months ended December 31, 2024. Key Financial Highl ...
My Size(MYSZ) - 2024 Q4 - Annual Report
2025-03-27 21:30
Revenue and Financial Performance - Revenues for the year ended December 31, 2024, amounted to $8,257,000, an increase of 18.1% compared to $6,996,000 for the year ended December 31, 2023, primarily driven by Orgad sales[241] - Operating loss for the year ended December 31, 2024, was $3,944,000, a decrease of 41.5% from the operating loss of $6,741,000 in 2023[248] - Net loss for the year ended December 31, 2024, was $3,995,000, down from $6,380,000 in 2023, reflecting improved operational performance[251] Expenses - Cost of revenues for the year ended December 31, 2024, was $4,934,000, up from $4,265,000 in 2023, with an inventory markdown of $643,000 due to a fire in Orgad's warehouse[242] - Research and development expenses decreased by approximately 55.96% to $429,000 in 2024 from $974,000 in 2023, mainly due to reduced headcount and subcontractor expenses[243] - Sales and marketing expenses decreased by 19.2% to $3,114,000 in 2024 from $3,856,000 in 2023, attributed to lower salaries and consultant expenses[244] - General and administrative expenses decreased by 15.2% to $3,368,000 in 2024 from $3,971,000 in 2023, primarily due to reduced professional services and insurance costs[245] - An impairment charge of $631,000 was recorded for the SaaS Solutions reporting unit, as its carrying value exceeded its fair value[268] Cash Flow and Financing - As of December 31, 2024, the company had cash, cash equivalents, and restricted cash of $4,880,000, an increase from $2,264,000 as of December 31, 2023, primarily due to a warrant repricing transaction and proceeds from exercised warrants[253] - Net cash used in operating activities decreased to $3,092,000 for the year ended December 31, 2024, compared to $6,106,000 for the previous year, mainly due to a reduction in net loss and changes in inventory[255] - Net cash provided by financing activities was $5,594,000 for the year ended December 31, 2024, down from $6,134,000 in 2023, primarily due to warrant repricing and proceeds from exercised warrants, offset by loan repayments of $735,000[257] - The net cash flow from investing activities was $53,000 for the year ended December 31, 2024, compared to $7,000 in 2023, primarily from proceeds from short-term deposits and investments in a joint venture[256] Future Outlook and Concerns - The company expects to continue generating losses and negative cash flows from operations for the foreseeable future, indicating substantial doubt about its ability to continue as a going concern without raising additional capital[258] - Current capital market conditions may limit the company's ability to raise additional capital on favorable terms, which could adversely affect its business and financial condition[259] - The company may face substantial dilution for existing stockholders if additional equity or convertible debt securities are issued in future capital transactions[260] Other Income and Adjustments - Other income for the year ended December 31, 2024, was $275,000, resulting from post-closing adjustments related to the Orgad acquisition[246] - Impairment of goodwill recorded was $631,000 for the year ended December 31, 2024, compared to $671,000 in 2023[247] Strategic Focus - The company is focused on commercializing Naiz Fit technology to enhance online shopping experiences and reduce return rates[221] - The company has entered into an At The Market Offering Agreement to sell up to $4.1 million in common stock, with 60,589 shares sold for approximately $142,000 as of the report date[254] - The company has not entered into any transactions with unconsolidated entities that expose it to material continuing risks or contingent liabilities[261]
MySize Inc. Appoints Roy Golan to Board of Directors
Prnewswire· 2025-03-10 12:30
AIRPORT CITY, Israel, March 10, 2025 /PRNewswire/ -- MySize, Inc. (NASDAQ: MYSZ) ("MySize" or the "Company"), an omnichannel e-commerce platform and provider of AI-driven measurement solutions, today announced the appointment of Roy Golan to its Board of Directors. Mr. Golan will serve as a Director on the Board, leveraging his extensive experience in initial public offerings (IPOs), fundraising, and mergers and acquisitions (M&As) to support MySize's strategic growth objectives.Roy Golan brings over two de ...
MySize Inc. Announces Innovative Integrated Virtual Try-On and Sizing Technology Following Successful Participation at CES and NRF 2025
Prnewswire· 2025-01-23 13:30
AIRPORT CITY, Israel, Jan. 23, 2025 /PRNewswire/ -- MySize Inc. (Nasdaq: MYSZ), a global leader in AI and big data-driven solutions for the retail market, is proud to announce the launch of its Integrated Virtual Try-On Solution, featuring seamless integration with MySize's proprietary sizing technology. Following its successful participation at CES and NRF 2025 in early January, the Company is seeking to transform how fashion brands enhance customer experiences, improve operational efficiency, and achieve ...
My Size(MYSZ) - 2024 Q3 - Quarterly Results
2024-12-27 13:10
Delaware 001-37370 51-0394637 (State or other jurisdiction of incorporation) (Commission File Number) (IRS Employer Identification No.) FORM 8-K Pursuant to Section 13 OR 15(d) of the Securities Exchange Act of 1934 MY SIZE, INC. (Exact name of registrant as specified in its charter) Registrant's telephone number, including area code +972-3-600-9030 Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following ...
MySize present year over year growth, 2025 targets $15M Revenue, Anticipates Strong 2024 Finish close to 100% Growth from 2022
Prnewswire· 2024-12-27 13:00
Core Insights - MySize, Inc. reported strong revenue growth, anticipating $8.5 million in revenue for 2024, which represents a 23% year-over-year increase, with a projection of reaching $15 million by 2025 [3][4] - The company is strategically expanding its geographic reach, moving from a North America focus to entering the European market, following certification as a supplier for a major European retailer [5][6] - MySize is exploring mergers and acquisitions (M&A) to enhance growth opportunities, aiming to expand product offerings, accelerate market reach, and optimize operational synergies [10][11] Revenue Growth and Financial Performance - MySize expects to close 2024 with $8.5 million in revenue, reflecting a 23% year-over-year growth [3] - The company believes it can achieve $15 million in revenue by 2025 based on current market conditions [3] - Operational cost savings are anticipated to enhance cash flow management and support strategic investments [3] Geographic Expansion - The company is shifting its e-commerce platform, Orgad, to expand operations across Europe [5] - Certification as a supplier for a major European retailer is seen as a significant milestone that unlocks new opportunities in the European retail market [6] Technological Advancements - MySize's AI-driven sizing solution, Naiz Fit, has delivered over 42 million personalized size recommendations and supported 1.5 million virtual try-ons [7] - The technology has increased conversion rates by 5.7 times and reduced return rates by 14%, driving cost savings for retail partners [7] - Naiz Fit has boosted average order value by 27% and improved consumer engagement by 15% [7] M&A Strategy - The company is actively exploring M&A opportunities to enhance growth and scale operations [10] - Targeting companies aligned with its expertise in AI-driven sizing solutions and e-commerce platforms is a key focus [10] - The M&A approach is grounded in strategic alignment and long-term value creation [11]
My Size, Inc. (MYSZ) Reports Q3 Loss, Misses Revenue Estimates
ZACKS· 2024-11-15 02:40
My Size, Inc. (MYSZ) came out with a quarterly loss of $0.64 per share versus the Zacks Consensus Estimate of a loss of $1.14. This compares to loss of $3.52 per share a year ago. These figures are adjusted for non-recurring items.This quarterly report represents an earnings surprise of 43.86%. A quarter ago, it was expected that this company would post a loss of $2.43 per share when it actually produced a loss of $1.28, delivering a surprise of 47.33%.Over the last four quarters, the company has surpassed ...
My Size(MYSZ) - 2024 Q3 - Quarterly Report
2024-11-14 21:30
U. S. SECURITIES AND EXCHANGE COMMISSION Washington, D. C. 20549 FORM 10-Q ☒ QUARTERLY REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2024 ☐ TRANSITION REPORT UNDER SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from _________ to _________ Commission File No. 001-37370 MY SIZE, INC. (Exact name of registrant as specified in its charter) | --- | --- | --- | |-------|----------|-------| | | | | | | | | ...
All You Need to Know About My Size (MYSZ) Rating Upgrade to Buy
ZACKS· 2024-08-23 17:01
My Size, Inc. (MYSZ) could be a solid choice for investors given its recent upgrade to a Zacks Rank #2 (Buy). This rating change essentially reflects an upward trend in earnings estimates -- one of the most powerful forces impacting stock prices. The Zacks rating relies solely on a company's changing earnings picture. It tracks EPS estimates for the current and following years from the sell-side analysts covering the stock through a consensus measure -- the Zacks Consensus Estimate. The power of a changing ...