AIRPORT CITY, Israel, April 21, 2025 /PRNewswire/ -- MySize, Inc. (NASDAQ: MYSZ) ("MySize" or the "Company"), an omnichannel e-commerce platform and provider of AI-driven measurement solutions to drive revenue growth and reduce costs for its business clients, today issued a shareholder update from its Founder and CEO, Ronen Luzon.
Dear Shareholders,
As we move forward into 2025 with confidence and determination, I want to take a moment to share some exciting developments and reaffirm our strategic direction for MySize Inc.
I'm pleased to announce that we have recently signed two Letters of Intent (LOIs) as part of our active exploration of mergers and acquisitions to enhance growth opportunities and scale operations. The LOIs - which involve potential acquisitions in the second-hand apparel and AI shoe technology sectors - reflect our strategic intent to expand into high-potential verticals that complement and strengthen our existing capabilities. With each step forward, we are establishing our leadership position in the sector and laying the groundwork for a larger, more powerful organization.
Our roll-up strategy is progressing strongly. We integrated both Orgad and Naiz Fit into the MySize Group, and these efforts are already showing encouraging results in both revenue generation and operational efficiency. But we are not just getting bigger - we are getting closer to cash-flow breakeven and progressing toward profitability. We are selectively targeting companies that are lean, profitable, or near profitability, ensuring that we scale with financial discipline and maintain a strong, cash-efficient posture across the group.
To support this evolution, we have been reinforcing our leadership team with highly experienced executives who we believe will bring added depth and global market knowledge to our management. This strengthening at the top is critical to scaling our operations while maintaining strategic discipline.
Financially, we continue to demonstrate strong momentum. In 2024, we achieved 18% year-over-year revenue growth, more than doubled our cash reserves, and reduced our net loss by 37%. As we look ahead, we believe we are firmly on the path to profitability. Our strategy combines geographic expansion-especially with Orgad's entry into major European markets-with strategic M&A that is designed to accelerate our growth while improving cost structures and synergies across the group.
Perhaps most excitingly, we are leveraging the rich data ecosystem within our group companies, particularly from Naiz Fit, to deliver transformative solutions powered by our proprietary AI technologies. This data is not just helping us optimize current offerings - it's becoming the foundation for future possibilities. We see a horizon where our deep understanding of consumer behavior, fit, and retail performance will allow us to imagine entirely new ways of interacting with, analyzing, and optimizing retail at scale. The full potential of this data-driven vision is still unfolding, and we believe it positions us to lead the industry toward a smarter, more adaptive future.
We believe that the combination of AI, big data, and strategic acquisitions places MySize at the forefront of the retail technology revolution. Our commitment is not only to growth, but to building a sustainable, profitable, and innovation-led business that creates long-term value for you, our shareholders.
Thank you for your continued support and belief in MySize.
Sincerely,
Ronen Luzon
Chief Executive Officer
MySize Inc. (NASDAQ: MYSZ)
About MySize Inc.
MySize, Inc. (NASDAQ: MYSZ) is a global leader in omnichannel e-commerce platforms and AI-driven sizing solutions, including MySizeID and Naiz Fit. The Company's solutions are designed to drive revenue growth, reduce operational costs, and enhance customer experiences for business clients worldwide.
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For more information, visit www.mysizeid.com.
Cautionary Statement Regarding Forward-Looking Statements
This press release contains certain forward-looking statements within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995, including statements related to potential acquisitions and potential profitability. These statements are identified by the use of the words "could," "believe," "anticipate," "intend," "estimate," "expect," "may," "continue," "predict," "potential," "project" and similar expressions that are intended to identify forward-looking statements. All forward-looking statements speak only as of the date of this press release. You should not place undue reliance on these forward-looking statements. Although we believe that our plans, objectives, expectations and intentions reflected in or suggested by the forward-looking statements are reasonable, we can give no assurance that these plans, objectives, expectations or intentions will be achieved. Forward-looking statements involve significant risks and uncertainties (some of which are beyond our control) and assumptions that could cause actual results to differ materially from historical experience and present expectations or projections. Actual results may differ materially from those in the forward-looking statements and the trading price for our common stock may fluctuate significantly. Forward-looking statements also are affected by the risk factors described in the Company's filings with the U.S. Securities and Exchange Commission. Except as required by law, we undertake no obligation to update or revise publicly any forward-looking statements, whether as a result of new information, future events or otherwise, after the date on which the statements are made or to reflect the occurrence of unanticipated events.
Investor Contacts:
Oren Elmaliah, CFO
[email protected]
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SOURCE My Size Inc.
