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My Size, Inc. (Nasdaq: MYSZ, TASE: MYSZ) is a cutting-edge technology company headquartered in the USA that has revolutionized measurement technology through sophisticated algorithms. This innovation finds applications across various industries, including apparel e-commerce and DIY projects on smartphones and tablets. Founded to simplify online clothing shopping by reducing the rate of returns due to incorrect sizing, My Size's patented algorithms accurately calculate and record measurements, enabling consumers to find the perfect fit without trying on clothes.
My Size's flagship products, MySizeID and Naiz Fit, offer AI-driven solutions that cater to both online and in-store shoppers. The company has also expanded its portfolio with the FirstLook Smart Mirror, an interactive touch display designed to enhance the in-store shopping experience and facilitate contactless checkouts.
With successful partnerships and collaborations, My Size supports well-known brands like Levi's, Speedo, Dockers, and Perry Ellis, contributing to over 5 million users and 18 million purchases globally. The company boasts a significant reduction in size-related returns, up to 65%, a testament to the efficacy of their solutions.
My Size's recent achievements include the acquisition of Naiz Fit, leading to multiple revenue streams and significant growth. The company reported impressive financial results, with revenues nearly doubling in 2022 to $4.46 million and anticipated to reach approximately $8 million for 2023. Their SaaS solutions for the fashion industry recently won the 'Agile Customer Journey' innovation award at the Paris Retail Week 2023, further cementing their influence in the retail sector.
My Size continues to innovate with new products like Naiz Fit Workforce, targeting the $33 billion workwear market, and integrating Generative AI for enhanced personalization and virtual try-ons. Their commitment to innovation and efficiency positions them as a leader in the fashion-tech industry.
For more information, visit their official website: www.mysizeid.com. Follow them on Facebook, LinkedIn, Instagram, and Twitter.
MySize (NASDAQ: MYSZ), a provider of AI-driven sizing solutions, announces its participation in CES 2025 and NRF 2025 to showcase new retail technology innovations. The company will present several key innovations:
- An AI-powered virtual try-on solution integrated with Size Recommendations engine
- True Feedback community app providing real-time customer insights and brand perception data
- Kids AI solution offering size recommendations based on growth pattern algorithms
- Smart Catalogue for real-time size chart updates
- Naiz Fit Connector platform enabling collaboration with advanced technology providers
These innovations aim to enhance online shopping experiences, reduce return rates, and optimize garment design through AI and machine learning capabilities.
MySize Inc. (NASDAQ: MYSZ) has announced raising $3 million through the exercise of outstanding warrants, as disclosed in an SEC filing on December 30, 2024. The company plans to utilize these funds to support strategic growth initiatives, including expanding Orgad's capabilities, pursuing M&A opportunities, advancing technology development, and scaling sales efforts.
The funding will specifically focus on enhancing Orgad's operational efficiencies, growing inventory, and expanding its presence across e-commerce platforms. Additionally, MySize aims to accelerate R&D efforts in AI and big data solutions for retailers, while supporting the company's 2025 milestones.
MySize (NASDAQ: MYSZ) anticipates closing 2024 with $8.5 million in revenue, marking a 23% year-over-year growth, and projects $15 million in revenue by 2025. The company's e-commerce platform, Orgad, is expanding from North America to Europe after receiving certification as a supplier for a major European retailer.
Their AI-driven sizing solution, Naiz Fit, has delivered over 42 million size recommendations across 18+ countries, achieving a 5.7x increase in conversion rates, 14% reduction in return rates, and 27% boost in average order value. MySize is actively exploring M&A opportunities to enhance growth and scale operations, focusing on companies aligned with their AI-driven sizing solutions and e-commerce platforms.
MySize, Inc. (NASDAQ: MYSZ) reported strong financial results for Q2 2024, with 53% revenue growth to $1.97 million and 61% increase in gross profit to $984,000. The growth was driven by improved performance at Orgad and successful market penetration of Naiz Fit. Key highlights include:
- Operating loss narrowed by 44% to $877,000
- Net loss improved by 25% to $964,000
- Cash position of $3.2 million as of June 30, 2024
CEO Ronen Luzon emphasized the company's strategic focus on enhancing Orgad's revenue in North America and optimizing Naiz Fit's SaaS offerings. MySize aims to leverage its AI-driven retail solutions to drive continued growth, reduce product returns, and improve customer satisfaction, with a clear path towards profitability and cash flow positivity.
MySize (Nasdaq: MYSZ), an AI-driven e-commerce platform, reported record Q1 2024 financial results. Revenues surged by 314% to $2.98M, driven by the acquisition of Orgad and a 25% increase in SaaS revenues.
Gross profit reached $1.2M, up from a loss of $1.15M. Operating loss narrowed by 57% to $1.07M, and net loss decreased by 61% to $1.02M. Inventory stood at $2.14M. A warrant repricing transaction is expected to bring in $3.26M.
CEO Ronen Luzon emphasized the strong revenue growth from Orgad and SaaS solutions, highlighting ongoing collaborations with top fashion brands to enhance personalization and reduce returns.
My Size, Inc. (NASDAQ: MYSZ) has regained compliance with Nasdaq's minimum bid price rule, with its stock price at or above $1.00 per share for 10 consecutive business days. Nasdaq considers the prior bid price deficiency matter closed.
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