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MySize Reports 2024 Full-Year Financial Results: Revenue Grows 18% to $8.26 Million and Cash Reserves More Than Double

1. MySize's revenue increased 18% to $8.26 million year-over-year. 2. Net loss decreased by 37%, showcasing improved financial health. 3. Cash reserves more than doubled, indicating stronger liquidity. 4. Over 100 brands adopted MySize's AI sizing solutions, enhancing market reach. 5. Significant tech integrations support e-commerce expansions and client retention.

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$1.2603/28 08:35 AM EDTEvent Start
$1.7903/31 08:55 AM EDTLatest Updated
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FAQ

Why Bullish?

The reported revenue growth and improved financial metrics can attract investor interest, similar to how companies with significant quarterly growth have seen stock price increases in the past. For instance, firms like Shopify have experienced upward price movements post-announcement of similar growth metrics.

How important is it?

Financial health improvements such as increased revenue and reduced loss are critical for investor confidence, making this news relevant for MYSZ's stock performance.

Why Short Term?

Immediate financial results are likely to influence stock performance and investor sentiment in the near future, similar to how quarterly earnings reports typically affect stock volatility.

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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 , /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 Highlights for the Year Ended December 31, 2024 Compared to 2023 Total revenue increased 18% to $8.26 million, compared to $7.00 million in 2023 Net loss decreased 37% to $3.99 million, compared to $6.38 million in 2023 Cash and cash equivalents more than doubled to $4.88 million, up from $2.19 million Shareholders' equity increased 46% to $6.91 million, compared to $4.74 million in 2023 Total assets reached $10.06 million, up from $8.99 million Total liabilities decreased to $3.15 million, compared to $4.26 million in 2023 Business & Operational Highlights for 2024: Naiz Fit Growth: Over 100 fashion brands adopted MySize's AI-driven sizing platform, deploying modules like Smart Catalog, True Feedback, and First Look Smart Mirror to optimize fit, reduce returns, and boost conversions. Orgad E-Commerce Strength: Continued contribution to top-line results with AI-driven merchandising across Amazon and other digital marketplaces. Technology Ecosystem Expansion: Deeper integrations with Shopify, Magento, Salesforce, Global-e, Scalapay, Returnly, and Aiuta supported rapid deployment, seamless omnichannel experiences, and stronger client retention across global markets. Management Commentary "In 2024, we advanced our mission of transforming how fashion is sold and experienced," stated Ronen Luzon, CEO and Founder of MySize. "We delivered 18% revenue growth and more than doubled our cash reserves, demonstrating both scale and discipline. Our technology is driving value for retailers, and we believe we're positioned for continued growth through SaaS expansion and e-commerce excellence." About My Size, Inc. MySize, Inc. (NASDAQ: MYSZ) is a global leader in omnichannel e-commerce platforms and AI-driven sizing solutions, including MySizeID and Naiz Fit. The Company's solutions are designed to drive revenue growth, reduce operational costs, and enhance customer experiences for business clients worldwide. We routinely post information that may be important to investors in the Investor Relations section of our website. Follow us on Facebook, LinkedIn, Instagram, and X (formerly known as Twitter). For more information, visit www.mysizeid.com. Cautionary Statement Regarding Forward-Looking Statements This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to the acquisition, expected revenues, and the expected closing of the acquisition. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events. Investor Contacts:Or Kles, CFO[email protected] Logo - https://mma.prnewswire.com/media/689689/5239853/MySize_Logo.jpg SOURCE My Size Inc. WANT YOUR COMPANY'S NEWS FEATURED ON PRNEWSWIRE.COM? 440k+ Newsrooms & Influencers 9k+ Digital Media Outlets 270k+ Journalists Opted In

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