My Size Provides Business Update for the Fourth Quarter of 2020

Rhea-AI Summary

My Size, Inc. (NASDAQ: MYSZ) announced a business update for Q4 2020, highlighting growth in key metrics. The company completed two direct offerings totaling $5.3 million and reported 12 million size recommendations delivered via MySizeID. Their expansion into the uniform and workwear sector includes a partnership with UniformMarket, tapping into a market projected to reach $42.1 billion by 2025. Additionally, they launched a footwear measurement solution aimed at a $20.9 billion market, focusing on sustainability by reducing shipping needs.

Positive

• Completed two direct offerings in January and March 2021, raising $5.3 million.
• Delivered over 12 million size recommendations in 2020.
• Expanded into the uniform and workwear sector with UniformMarket partnership.
• Launched a footwear measurement solution targeting a $20.9 billion market.

Negative

• None.

Airport City, Israel, March 29, 2021 (GLOBE NEWSWIRE) --  My Size, Inc. (the "Company" or "MySize") (NASDAQ: MYSZ) (TASE: MYSZ), the developer and creator of innovative measurement solutions, today provided a business update for the fourth quarter ended December 31, 2020. A copy of the Company’s Annual Report on Form 10-K for the year ended December 31, 2020, has been filed with the Securities and Exchange Commission and posted on the Company’s website at https://ir.mysizeid.com.

Recent Highlights

• Completed two registered direct offerings in January and March 2021, resulting in $2M and $3.3M in gross proceeds, respectively, and received $0.8 million from warrant exercises in January and February 2021.
• MySizeID delivered over 12 million size recommendations in 2020.
• Significant expansion of MySizeID into the uniform and workwear sector in North American and Europe.
• Launched footwear measurement solution with MySizeID.

Ronen Luzon, CEO of My Size, Inc., stated, “We are pleased to see continued if moderate, growth in Q4 2020 in all key metrics, including in the number of recommendations our customer’s shoppers are using to purchase apparel, as well as revenue, compared to the same period last year. “This year, our goal is to transform MySizeID from a solution that provides brands and their customers with accurate size recommendations to a more robust, end-to-end solution that inspires customer confidence and drives omnichannel revenue growth by providing a superior consumer journey.”

“During Q4, the company partnered with UniformMarket which has 3,000 online stores that are part of the UniformMarket network. The UniformMarket, joins our growing constellation of brands, in a sector expected to reach $42.1 billion by 2025, which includes Tricorp, Victory Cheer Uniforms, Rumina `Nursingwear, and others.

“The MySize footwear sizing solution, which aims to address the $20.9 billion footwear market (2020, US), was also introduced in Q4.  MySizeID provides highly accurate size recommendations for footwear shoppers with the goal of significantly reducing the need for “free two-way-shipping” and advancing sustainability goals for the breadth of the retail apparel sector.

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About My Size, Inc.

My Size, Inc. (TASE: MYSZ, NASDAQ: MYSZ) has developed a unique measurement technology based on sophisticated algorithms and cutting-edge technology with broad applications, including the apparel, e-commerce, DIY, shipping, and parcel delivery industries. This proprietary measurement technology is driven by several algorithms that are able to calculate and record measurements in a variety of novel ways. To learn more about My Size, please visit our website: www.mysizeid.com. 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 Twitter.

Please click here for a demonstration of how MySizeID provides a full sizing solution for the retail industry.

Register here for a free plan of MySizeID solution for your online store.

Please click here to download MySizeID for iOS.

Please click hereto download MySizeID for Android.

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. 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 to 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.

U.S. Press Contact:

Strauss Communications
joel@strausscomms.com
www.strausscomms.com

IR Contact:

Or Kles, CFO

ir@mysizeid.com

FAQ

What were My Size's gross proceeds from recent offerings?

My Size completed two direct offerings in January and March 2021, raising a total of $5.3 million.

How many size recommendations did MySizeID deliver in 2020?

MySizeID delivered over 12 million size recommendations in 2020.

What sectors is My Size expanding into?

My Size is expanding into the uniform and workwear sector in North America and Europe.

What market does My Size's new footwear measurement solution target?

The footwear measurement solution targets a $20.9 billion market as of 2020 in the U.S.