My Size Inc. (MYSZ) reports earnings

The report was filed on March 27, 2025

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My Size Inc. (MYSZ-10.55%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.

The filing reports revenues of $8,257,000 for the year, an increase from $6,996,000 in the previous year, primarily due to sales from Orgad.

Cost of revenues increased to $4,934,000 from $4,265,000, attributed to an increase in revenues and an inventory mark-down due to a warehouse fire.

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Research and development expenses decreased to $429,000 from $974,000, mainly due to reduced headcount and subcontractor expenses.

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Sales and marketing expenses decreased to $3,114,000 from $3,856,000, with reductions in salaries, consultant expenses, and marketing costs.

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General and administrative expenses decreased to $3,368,000 from $3,971,000, primarily due to lower professional services and insurance costs.

The company recorded an impairment charge of $631,000 for goodwill related to its SaaS Solutions segment.

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Net loss for the year was $3,995,000, compared to a net loss of $6,380,000 in the previous year.

The company ended the year with cash, cash equivalents, and restricted cash of $4,880,000, up from $2,264,000 the previous year.

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My Size anticipates continued losses and negative cash flows from operations, indicating substantial doubt about its ability to continue as a going concern.

The company plans to continue commercializing its products and seek additional financing to support its operations.

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This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the My Size Inc. annual 10-K report dated March 27, 2025. To report an error, please email earnings@qz.com.