MySize Reports 2024 Full-Year Financial Results: Revenue Grows 18% to $8.26 Million and Cash Reserves More Than Double
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.
MySize (NASDAQ: MYSZ) ha riportato risultati finanziari solidi per l'anno fiscale 2024, con un aumento del fatturato totale del 18% a $8,26 milioni rispetto ai $7,00 milioni del 2023. L'azienda ha notevolmente migliorato la sua posizione finanziaria, con contante e equivalenti di contante che sono più che raddoppiati a $4,88 milioni, rispetto ai $2,19 milioni.
I principali indicatori finanziari mostrano un miglioramento sostanziale, inclusa una riduzione del 37% della perdita netta a $3,99 milioni e un aumento del 46% del patrimonio netto degli azionisti a $6,91 milioni. Il totale delle attività ha raggiunto $10,06 milioni mentre le passività sono diminuite a $3,15 milioni.
I punti salienti operativi includono l'adozione della piattaforma di dimensionamento basata sull'IA di MySize da oltre 100 marchi di moda e la continua crescita della divisione e-commerce di Orgad. L'azienda ha ampliato il suo ecosistema tecnologico attraverso integrazioni con importanti piattaforme come Shopify, Magento e Salesforce.
MySize (NASDAQ: MYSZ) reportó resultados financieros sólidos para el año fiscal 2024, con un aumento del ingreso total del 18% a $8.26 millones en comparación con $7.00 millones en 2023. La compañía mejoró significativamente su posición financiera, con efectivo y equivalentes de efectivo que más que se duplicaron a $4.88 millones, subiendo desde $2.19 millones.
Los principales indicadores financieros muestran una mejora sustancial, incluyendo una reducción del 37% en la pérdida neta a $3.99 millones y un aumento del 46% en el patrimonio de los accionistas a $6.91 millones. Los activos totales alcanzaron los $10.06 millones mientras que las obligaciones disminuyeron a $3.15 millones.
Los aspectos operativos destacados incluyen la adopción de la plataforma de dimensionamiento impulsada por IA de MySize por más de 100 marcas de moda y el crecimiento continuo de la división de comercio electrónico de Orgad. La compañía amplió su ecosistema tecnológico a través de integraciones con plataformas importantes como Shopify, Magento y Salesforce.
MySize (NASDAQ: MYSZ)는 2024 회계연도에 강력한 재무 결과를 보고했으며, 총 수익이 2023년의 700만 달러에서 826만 달러로 18% 증가했습니다. 회사는 재무 상태를 크게 개선하였으며, 현금 및 현금성 자산이 219만 달러에서 488만 달러로 두 배 이상 증가했습니다.
주요 재무 지표는 상당한 개선을 보여주며, 여기에는 순손실이 37% 감소하여 399만 달러에 이르고, 주주 지분이 46% 증가하여 691만 달러에 이릅니다. 총 자산은 1006만 달러에 도달했으며, 부채는 315만 달러로 감소했습니다.
운영 하이라이트에는 MySize의 AI 기반 사이징 플랫폼을 100개 이상의 패션 브랜드가 채택한 것과 Orgad 전자상거래 부문의 지속적인 성장 등이 포함됩니다. 회사는 Shopify, Magento 및 Salesforce와 같은 주요 플랫폼과의 통합을 통해 기술 생태계를 확장했습니다.
MySize (NASDAQ: MYSZ) a annoncé des résultats financiers solides pour l'exercice 2024, avec un chiffre d'affaires total augmentant de 18% pour atteindre 8,26 millions de dollars par rapport à 7,00 millions de dollars en 2023. L'entreprise a considérablement amélioré sa position financière, avec des liquidités et équivalents de liquidités plus que doublés à 4,88 millions de dollars, contre 2,19 millions de dollars.
Les principaux indicateurs financiers montrent une amélioration substantielle, y compris une réduction de 37% de la perte nette à 3,99 millions de dollars et une augmentation de 46% des capitaux propres des actionnaires à 6,91 millions de dollars. Les actifs totaux ont atteint 10,06 millions de dollars tandis que les passifs ont diminué à 3,15 millions de dollars.
Les points forts opérationnels incluent l'adoption de la plateforme de dimensionnement alimentée par IA de MySize par plus de 100 marques de mode et la croissance continue de la division e-commerce d'Orgad. L'entreprise a élargi son écosystème technologique grâce à des intégrations avec des plateformes majeures telles que Shopify, Magento et Salesforce.
MySize (NASDAQ: MYSZ) hat für das Geschäftsjahr 2024 starke finanzielle Ergebnisse berichtet, mit einem Anstieg des Gesamtumsatzes um 18% auf 8,26 Millionen Dollar im Vergleich zu 7,00 Millionen Dollar im Jahr 2023. Das Unternehmen hat seine finanzielle Position erheblich verbessert, wobei Bargeld und Zahlungsmitteläquivalente sich mehr als verdoppelt haben auf 4,88 Millionen Dollar, im Vergleich zu 2,19 Millionen Dollar.
Wichtige Finanzkennzahlen zeigen eine erhebliche Verbesserung, einschließlich einer 37%igen Reduzierung des Nettoverlusts auf 3,99 Millionen Dollar und einem 46%igen Anstieg des Eigenkapitals der Aktionäre auf 6,91 Millionen Dollar. Die Gesamtaktiva erreichten 10,06 Millionen Dollar, während die Verbindlichkeiten auf 3,15 Millionen Dollar sanken.
Zu den betrieblichen Höhepunkten gehört die Übernahme der KI-gestützten Größenplattform von MySize durch über 100 Modemarken und das kontinuierliche Wachstum der Orgad-E-Commerce-Sparte. Das Unternehmen hat sein Technologie-Ökosystem durch Integrationen mit großen Plattformen wie Shopify, Magento und Salesforce erweitert.
- 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
- Company still operating at a loss of $3.99 million
Insights
MySize's 2024 results demonstrate substantial financial improvement across all key metrics. Revenue growth of 18% to
The balance sheet strengthening is particularly noteworthy. Cash reserves more than doubled to
Despite these improvements, investors should recognize MySize remains unprofitable. The company still spends approximately
Interestingly, with a reported market cap of approximately
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 18% year-over-year - Cash and cash equivalents increased
123% to$4.88 million - Shareholders' equity rose
46% to$6.91 million
AIRPORT CITY,
Key Financial Highlights for the Year Ended December 31, 2024 Compared to 2023
- Total revenue increased
18% to$8.26 million $7.00 million - Net loss decreased
37% to$3.99 million $6.38 million - Cash and cash equivalents more than doubled to
$4.88 million $2.19 million - Shareholders' equity increased
46% to$6.91 million $4.74 million - Total assets reached
$10.06 million $8.99 million - Total liabilities decreased to
$3.15 million $4.26 million
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
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
Investor Contacts:
Or Kles, CFO
ir@mysizeid.com
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SOURCE My Size Inc.
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