My Size, Inc. Reports Revenue Decline to $1.48 Million in Q1 2025

My Size, Inc. reported a significant decline in financial performance for the first quarter of 2025, with revenues totaling $1.48 million, down from $2.98 million in the same period of 2024. The decrease in revenue is primarily attributed to reduced sales from Orgad, the company's e-commerce platform acquired in 2022. The cost of revenues also decreased to $1.06 million from $1.79 million year-over-year, leading to a gross profit of $420,000, compared to $1.20 million in the prior year. The company recorded an operating loss of $1.06 million, slightly higher than the $1.07 million loss reported in the first quarter of 2024.

In terms of operational metrics, My Size's total assets decreased to $8.75 million as of March 31, 2025, down from $10.06 million at the end of 2024. The company's cash and cash equivalents also fell to $3.70 million from $4.88 million. The total stockholders' equity decreased to $6.03 million, reflecting an accumulated deficit of $64.94 million. The company’s employee headcount has been reduced, contributing to lower research and development expenses, which fell to $82,000 from $132,000 year-over-year.

Strategically, My Size has continued to expand its operations, recently establishing a new subsidiary, New Percentil, S.L., in Spain, which acquired a production unit from Casi Nuevo Kids, S.L. for approximately $679,000. This acquisition is expected to enhance the company's capabilities in the apparel e-commerce market. Additionally, the company has entered into an At The Market Offering Agreement with H.C. Wainwright & Co., allowing it to raise up to $4.1 million through the sale of common stock, with $142,000 raised as of March 31, 2025.

Looking ahead, My Size management has expressed concerns regarding the company's ability to continue as a going concern, citing the need for additional capital to fund operations and pursue growth opportunities. The company anticipates ongoing losses and negative cash flows for the foreseeable future, which may necessitate further fundraising efforts. The geopolitical situation in Israel and the broader economic environment may also impact the company's operations and financial condition. Management is actively seeking to commercialize its products and secure financing to support its strategic initiatives.