Nasdaq:MYSZ
My Size, Inc.
A niche Nasdaq stock offering AI-driven sizing technology that helps e-commerce retailers shrink returns and boost customer retention.
Key Metrics
Investment Thesis
Bull Case
Investors should consider MYSZ as a high-risk, high-reward play on the massive digital fashion market where its proprietary technology offers a clear path to becoming an indispensable utility for global retailers. The dramatic revenue growth suggests strong product-market fit and potential for future profitability once the company reaches critical mass in licensing fees and reduces its burn rate.
Bear Case
The stock is currently priced as if it will immediately turn profitable, yet the company has posted four consecutive years of losses with a massive accumulated deficit that threatens its solvency. The lack of positive cash flow from operations and heavy reliance on financing cash flows makes the business vulnerable to any tightening in credit markets or slowing retail spending.
About My Size, Inc.
My Size, Inc. (MYSZ) is a Nasdaq-listed technology company specializing in proprietary sizing algorithms and digital apparel solutions for global e-commerce retailers. The firm serves markets across North America and Europe, leveraging its unique data-driven approach to reduce return rates and optimize inventory for online fashion brands.
Analysis
Management Discussion
Despite a strong 86% year-over-year revenue increase driven by market adoption of its sizing technology, My Size continues to report significant net losses as it scales operations without yet achieving profitability. The widening gap between cash flow from operations and net income highlights heavy non-cash adjustments and working capital pressures that management has struggled to resolve in recent quarters.
Industry Overview
The digital apparel industry is experiencing explosive growth as consumers increasingly shop online, creating a critical need for accurate sizing data to combat the high return rates that plague e-commerce fashion. Companies like My Size are emerging leaders in this space by applying AI and machine learning to solve the universal problem of fit, transforming how brands manage inventory and customer experience.
Financial Statements
Income Statement
Balance Sheet
Cash Flow
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Revenue | $4.5M | $7.0M | $8.3M |
| Cost of Revenue | $3.8M | $4.3M | $4.9M |
| Gross Profit | $634.0K | $2.7M | $3.3M |
| Operating Expenses | $8.7M | $9.5M | $7.3M |
| Operating Income | $-8.1M | $-6.7M | $-3.9M |
| R&D | $1.7M | $974.0K | $429.0K |
| G&A | $3.9M | $4.0M | $3.4M |
| Marketing | $3.1M | $3.9M | $3.1M |
| Stock-Based Comp | $455.0K | $453.0K | $390.0K |
| Depreciation | $38.0K | $27.0K | $20.0K |
| Amortization | $155.0K | $302.0K | $294.0K |
| Other OpEx | $0 | $671.0K | $356.0K |
| Non-Operating Income | $-236.0K | $28.0K | $-51.0K |
| Pre-Tax Income | $-8.3M | $-6.7M | $-4.0M |
| Income Tax | $-36.0K | $-333.0K | $0 |
| Continuing Ops | $-8.3M | $-6.4M | $-4.0M |
| Discontinued Ops | $200.0K | $0 | $0 |
| Net Income | $-8.1M | $-6.4M | $-4.0M |
| Minority Interest | $0 | $0 | $0 |
| Net to Common | $-8.1M | $-6.4M | $-4.0M |
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Current Assets | $6.1M | $6.6M | $9.1M |
| Cash & Equivalents | $2.1M | $2.2M | $4.9M |
| Accounts Receivable | $1.9M | $615.0K | $278.0K |
| Inventory | $997.0K | $2.9M | $2.8M |
| Prepaid Expenses | $322.0K | $847.0K | $1.1M |
| Other Current Assets | $699.0K | $99.0K | $0 |
| Long-Term Assets | $3.7M | $2.4M | $987.0K |
| PP&E (Net) | $140.0K | $121.0K | $67.0K |
| Intangibles | $1.4M | $1.1M | $750.0K |
| Goodwill | $1.4M | $758.0K | $133.0K |
| Operating Leases | $583.0K | $351.0K | $23.0K |
| LT Securities | $47.0K | $6.0K | $7.0K |
| Other LT Assets | $127.0K | $31.0K | $7.0K |
| Total Assets | $9.7M | $9.0M | $10.1M |
| Current Liabilities | $4.2M | $3.9M | $3.0M |
| Current Leases | $159.0K | $158.0K | $15.0K |
| Other Current Liab | $4.0M | $3.7M | $3.0M |
| Long-Term Liabilities | $1.0M | $378.0K | $154.0K |
| Long-Term Debt | $376.0K | $249.0K | $146.0K |
| LT Operating Leases | $308.0K | $129.0K | $8.0K |
| Other LT Liab | $328.0K | $0 | $0 |
| Total Liabilities | $5.2M | $4.3M | $3.1M |
| Shareholders' Equity | $4.5M | $4.7M | $6.9M |
| Paid-In Capital | $58.7M | $65.4M | $71.6M |
| Retained Earnings | $-53.5M | $-59.9M | $-63.9M |
| AOCI | $-637.0K | $-771.0K | $-825.0K |
| Total L&E | $9.7M | $9.0M | $10.1M |
| Metric | 2022 | 2023 | 2024 |
|---|---|---|---|
| Net Income (CFO) | $-8.1M | $-6.4M | $-4.0M |
| Non-Cash Adjustments | $-1.6M | $-241.0K | $1.9M |
| Working Capital Changes | $2.4M | $515.0K | $-971.0K |
| Cash from Operations | $-7.3M | $-6.1M | $-3.1M |
| Capital Expenditures | $27.0K | $7.0K | $7.0K |
| Cash from Investing | $-993.0K | $-7.0K | $53.0K |
| Cash from Financing | $-67.0K | $6.1M | $5.6M |
| FX Effect | $-230.0K | $-120.0K | $61.0K |
| Net Change in Cash | $-8.6M | $-99.0K | $2.6M |
| Beginning Cash | $10.9M | $2.4M | $2.3M |
| Ending Cash | $2.4M | $2.3M | $4.9M |
Frequently Asked Questions
How does My Size, Inc. make money?
The company generates revenue primarily through licensing its proprietary sizing software to major retail partners, providing on-demand sizing data APIs, and offering custom development services for apparel manufacturers struggling with fit issues in the digital space.
What are the main risks for MYSZ?
The company faces substantial risk from its consistent operating losses and deepening retained earnings deficit which could trigger covenant breaches or dilution; volatile cash flow from operations indicates potential liquidity stress if revenue growth stalls; reliance on a concentrated customer base in the e-commerce sector exposes it to retail downturns; and regulatory uncertainty regarding data privacy for biometric body scan information.
What is MYSZ's competitive advantage?
My Size possesses a proprietary database of over 3 million body scans that creates an unmatched predictive accuracy for fit, significant economies of scale in data processing, and strong partnerships with leading global fashion houses that create high switching costs.
Related Companies
Not financial advice. All content is for informational purposes only. Data may contain errors. Consult a qualified financial advisor before making investment decisions.