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My Size Inc. (MYSZ+1.59%) 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.
Research and development expenses decreased to $429,000 from $974,000, mainly due to reduced headcount and subcontractor expenses.
Sales and marketing expenses decreased to $3,114,000 from $3,856,000, with reductions in salaries, consultant expenses, and marketing costs.
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.
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.
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.
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.