Welcome to our dedicated page for My Size news (Ticker: MYSZ), a resource for investors and traders seeking the latest updates and insights on My Size stock.
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, Inc. (NASDAQ: MYSZ) announced a partnership with Forint S.p.a., an Italian uniform manufacturer, to implement MySizeID sizing solutions for its business-to-business clients. This collaboration aims to enhance customer experience and service accuracy, benefiting clients across various sectors, including airlines and military. MySize CEO Ronen Luzon emphasized the potential for economic improvement and reduced environmental waste through their technology. The integration of MySizeID is expected to strengthen Forint's customer service capabilities.
MySize, Inc. (NASDAQ: MYSZ) has approved a one-for-25 reverse stock split effective after trading on December 8, 2022. The split aims to increase the stock price to comply with Nasdaq requirements and attract institutional investors. Post-split, outstanding shares will reduce from 36 million to 1.5 million, with fractional shares rounded up. This change does not impact ownership percentages, and stockholders holding physical certificates will receive new ones. The company’s strategic actions include enhancing its e-commerce capabilities through AI-driven measurement solutions.
MySize, Inc. (NASDAQ: MYSZ) announced its participation in the Ladenburg Thalmann Virtual Technology Expo on December 7th, 2022, at 1:00 PM ET. CEO Ronen Luzon will present the company's growth strategy after acquiring Naiz Fit and Orgad, enhancing its position in the fashion-tech sector. MySize provides AI-driven measurement solutions aimed at driving revenue and cutting costs for business clients. The Expo will feature presentations from about 50 technology firms and include opportunities for one-on-one meetings with investor teams.
MySize, Inc. (NASDAQ: MYSZ) reported significant financial results for Q3 2022, with revenues soaring 2242% to $726,000, mainly due to the acquisition of Orgad. MySizeID SaaS revenue rose 32% to $41,000. The operating loss decreased to $1,975,000, while the net loss remained stable at $2,026,000. Cash reserves stood at $4.6 million. Recent acquisitions, including NaizFit, are expected to enhance growth in the fashion-tech sector. The company anticipates total revenues for 2022 between $4 million and $5 million and projects strong SaaS revenue streams in 2023.
On November 9, 2022, MySize (NASDAQ: MYSZ) announced that its CEO, Ronen Luzon, will speak at Brand Week 2022 in Istanbul on November 11. His speech, titled "Measure Perfect: The Power of Innovation Against Waste," will highlight the importance of sustainability in retail. Luzon emphasized that retailers adopting MySize's AI-driven measurement solutions not only improve ROI but also minimize waste, addressing the issue of 5 billion pounds of returns that end up in landfills. MySize continues to innovate in the e-commerce space with solutions aimed at driving revenue growth.
MySize, a provider of AI-driven measurement solutions, announces the acquisition of Naiz Fit, a Spain-based fashion-tech firm. The acquisition positions MySize to capitalize on the $120 billion fashion market in Spain and Italy, with plans for European market expansion. MySize expects high-margin recurring SaaS revenues from its enhanced portfolio of sizing solutions, including the upcoming Smart Catalogue and FirstLook Smart Mirror. This strategic move strengthens MySize's foothold in Europe, bolstering its growth potential.
MySize (NASDAQ: MYSZ) has acquired Spain-based Naiz Fit for $500,000 cash plus 6 million shares, with potential future payments of up to $1.55 million. This acquisition aims to enhance MySize's position in the fashion measurement solutions sector, expecting to generate an additional $1 million revenue in 2023. Naiz Fit brings a strong customer base, including top European brands like Desigual and Moschino. The integration is projected to yield economies of scale and broaden MySize's tech offerings.
MySize, Inc. (NASDAQ: MYSZ) announced participation in two key retail industry conferences in New York and Cologne, showcasing its FirstLook Smart Mirror and AI-driven MySizeID solutions. From September 13-16, MySize will present at the SAP Fashion Experience during New York Fashion Week, collaborating with GK Software. The company aims to leverage its growing retail customer base in North and South America, highlighted by a joint venture in Brazil. MySize will also feature at the DMEXCO conference in Cologne on September 21-22, targeting industry leaders and potential partners.
MySize, Inc. (NASDAQ: MYSZ) reported remarkable financial results for Q2 2022, achieving record revenues of $801,000, a staggering increase of 2570% year-over-year, primarily due to the acquisition of Orgad. Gross profit surged 973% to $322,000, while operating and net losses significantly narrowed by 62% and 60%, respectively. The company reiterates its 2022 revenue guidance of at least $5 million. Cash reserves at the end of June stood at $6.5 million, positioning MySize well for the upcoming holiday season.
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