MySize Reports 2024 Full-Year Financial Results: Revenue Grows 18% to $8.26 Million and Cash Reserves More Than Double

Core Insights - MySize, Inc. reported an 18% increase in revenue for the year ended December 31, 2024, reaching $8.26 million compared to$7.00 million in 2023 [9][10] - The company significantly improved its financial position, with cash and cash equivalents increasing by 123% to $4.88 million and shareholders' equity rising by 46$6.91 million [9][10] Financial Highlights - Total revenue increased to $8.26 million, up 18$3.99 million from $6.38 million in 2023 [10] - Cash and cash equivalents more than doubled to$4.88 million, up from $2.19 million [10] - Shareholders' equity rose 46$6.91 million compared to $4.74 million in 2023 [10] - Total assets reached$10.06 million, an increase from $8.99 million [10] - Total liabilities decreased to$3.15 million from $4.26 million in 2023 [10] Business & Operational Highlights - Over 100 fashion brands adopted MySize's AI-driven sizing platform, enhancing fit optimization and reducing returns [3] - Continued growth in e-commerce through AI-driven merchandising across platforms like Amazon [3] - Expanded technology ecosystem with deeper integrations with major platforms such as Shopify, Magento, and Salesforce, enhancing client retention and omnichannel experiences [4] Management Commentary - The CEO emphasized the company's mission to transform fashion retail, highlighting the 18% revenue growth and the doubling of cash reserves as indicators of scale and discipline [5]