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

Rhea-AI Summary

MySize (NASDAQ: MYSZ) reported strong financial results for FY2024, with total revenue increasing 18% to $8.26 million compared to $7.00 million in 2023. The company significantly improved its financial position, with cash and cash equivalents more than doubling to $4.88 million, up from $2.19 million.

Key financial metrics show substantial improvement, including a 37% reduction in net loss to $3.99 million and a 46% increase in shareholders' equity to $6.91 million. Total assets reached $10.06 million while liabilities decreased to $3.15 million.

Operational highlights include the adoption of MySize's AI-driven sizing platform by over 100 fashion brands and continued growth of the Orgad e-commerce division. The company expanded its technology ecosystem through integrations with major platforms like Shopify, Magento, and Salesforce.

Positive

• Revenue grew 18% to $8.26 million
• Net loss reduced by 37% to $3.99 million
• Cash reserves increased 123% to $4.88 million
• Shareholders' equity rose 46% to $6.91 million
• Total liabilities decreased to $3.15 million from $4.26 million
• Over 100 fashion brands adopted the AI-driven sizing platform

Negative

• Company still operating at a loss of $3.99 million

Insights

Financial Analyst

MySize's 2024 results demonstrate substantial financial improvement across all key metrics. Revenue growth of 18% to $8.26 million shows continued market traction, but the 37% reduction in net loss to $3.99 million is even more significant as it indicates improved operational efficiency.

The balance sheet strengthening is particularly noteworthy. Cash reserves more than doubled to $4.88 million, providing extended operational runway and reducing near-term financing pressure. Meanwhile, shareholders' equity increased 46% to $6.91 million while total liabilities decreased from $4.26 million to $3.15 million.

Despite these improvements, investors should recognize MySize remains unprofitable. The company still spends approximately $1.48 for every dollar of revenue generated – though this has improved from roughly $1.91 in 2023. This steady progress toward profitability, combined with their strengthened balance sheet, suggests a company increasingly positioning itself for sustainable operations.

Interestingly, with a reported market cap of approximately $2.51 million and shareholders' equity of $6.91 million, the stock appears to be trading below book value, potentially indicating investor skepticism about future growth prospects despite the improving financial fundamentals.

Technology Sector Analyst

MySize's operational highlights reveal meaningful traction in the competitive retail technology space. Their Naiz Fit platform's adoption by over 100 fashion brands demonstrates growing market acceptance for their AI-driven sizing solutions that address the critical industry challenge of fit-related returns.

The expanded integration ecosystem – now including Shopify, Magento, Salesforce, Global-e, Scalapay, and Returnly – creates multiple deployment channels that can accelerate customer acquisition and strengthen retention. These technical integrations significantly reduce implementation barriers for retailers, potentially shortening sales cycles while improving platform stickiness.

The company's diversified approach with both SaaS (Naiz Fit) and e-commerce (Orgad) revenue streams provides multiple growth vectors. Their technology directly addresses the multi-billion dollar problem of returns due to poor fit in online fashion retail through modules like Smart Catalog, True Feedback, and First Look Smart Mirror.

The advancement beyond basic sizing functionality to a more comprehensive solution suite indicates product evolution that could expand their addressable market within existing customers. This product development, combined with improved financial metrics, suggests the company's AI-driven retail solutions are gaining validation through practical market application rather than just conceptual appeal.

• 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 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
ir@mysizeid.com

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SOURCE My Size Inc.

FAQ

What was MySize (MYSZ) revenue growth in 2024?

MySize achieved 18% revenue growth in 2024, reaching $8.26 million compared to $7.00 million in 2023.

How much did MySize (MYSZ) reduce its net loss in 2024?

MySize reduced its net loss by 37% to $3.99 million in 2024, down from $6.38 million in 2023.

What was MySize's (MYSZ) cash position at the end of 2024?

Cash and cash equivalents more than doubled to $4.88 million, representing a 123% increase from $2.19 million in 2023.

How many fashion brands adopted MySize's AI sizing platform in 2024?

Over 100 fashion brands adopted MySize's AI-driven sizing platform in 2024.

What was MySize's (MYSZ) shareholders' equity in 2024?

Shareholders' equity increased 46% to $6.91 million in 2024, compared to $4.74 million in 2023.