My Size, Inc. Reports 18.1% Revenue Growth to $8.26 Million, Despite Net Loss Reduction

My Size, Inc. reported a revenue increase of 18.1% for the fiscal year ending December 31, 2024, generating $8.26 million compared to $7.00 million in 2023. The company attributed this growth primarily to sales from its subsidiary Orgad, which operates as a third-party seller on Amazon. Despite the revenue growth, My Size recorded a net loss of approximately $4.00 million, a decrease from the $6.38 million loss reported in the previous year. This reduction in losses was largely due to decreased operating expenses, including a significant reduction in research and development costs, which fell by 55.6% to $429,000.

The company underwent significant operational changes during the fiscal year, including the completion of its acquisitions of Orgad and Naiz Fit, which were aimed at expanding its e-commerce capabilities and enhancing its AI-driven measurement solutions. The integration of these subsidiaries is expected to bolster My Size's market position in the fashion e-commerce sector. The company also launched new products, including the Naiz Fit Widget, which helps consumers find accurate clothing sizes, thereby reducing return rates and improving conversion rates for retailers.

In terms of operational metrics, My Size reported a decrease in total operating expenses to $7.27 million from $9.47 million in 2023. The company’s gross profit increased to $3.32 million, reflecting improved efficiency in its operations. As of December 31, 2024, My Size had cash and cash equivalents totaling $4.88 million, a significant increase from $2.26 million in the previous year, primarily due to capital raised from warrant exercises and other financing activities.

Looking ahead, My Size expressed concerns regarding its ability to continue as a going concern, citing the need for additional capital to fund operations and growth initiatives. The company plans to pursue further commercialization of its products and explore additional financing options, including an At The Market Offering Agreement that allows for the sale of up to $4.1 million in common stock. The management remains cautious about market conditions and the potential impact of geopolitical events, particularly the ongoing conflict in Israel and the economic situation in Russia, which could affect its operations and financial performance.

Overall, while My Size, Inc. has shown improvement in revenue and reduced losses, the company faces ongoing challenges related to capital requirements and market conditions as it seeks to solidify its position in the competitive e-commerce landscape.