Untapped Opportunity: Emerging AI-driven Measurement Solutions Company Poised to Disrupt $38 Billion Market, Receives Bullish Target From Wall Street Analyst…(1)(2)
See why now could be the best time to start your research on My Size, Inc. (Nasdaq: MYSZ).
NASDAQ: MYSZ • NASDAQ: MYSZ • NASDAQ: MYSZ• NASDAQ: MYSZ • NASDAQ: MYSZ • NASDAQ: MYSZ• NASDAQ: MYSZ • NASDAQ: MYSZ • NASDAQ: MYSZ• NASDAQ: MYSZ • NASDAQ: MYSZ • NASDAQ: MYSZ•
7 Reasons Why My Size, Inc. (Nasdaq: MYSZ) Could Be Poised For Significant Upside Potential in 2023.
1
Active Chart:
Shares of My Size, Inc. (Nasdaq: MYSZ) recently bounced off their 52-week low of $1.02 on 6/27/23 before surging over 168% in less than 2 months when they reached $2.74 on 8/22/23. (3) Their 52-week high of $8.46 set back on 12/8/22 could suggest an upside potential of over 729% from their 52-week low. (3) A move back to previous levels is not certain, but the potential should be noted. (3)
2
Ultra Low Float: According to Finviz.com, My Size, Inc. (Nasdaq: MYSZ) has less than 1.42 million shares available in its public float with insiders owning approximately 18.38% as of 9/7/23.(4)
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AI-Driven Technology: My Size, Inc. (Nasdaq: MYSZ) boasts a portfolio of cutting-edge, AI-driven measurement solutions that have the potential to revolutionize multiple industries. (5)
4
Disruptive Market Potential with Sustainability Focus: My Size, Inc. (Nasdaq: MYSZ) is an emerging AI-driven measurement solutions company set to disrupt the $38 billion apparel returns market. With a strong focus on sustainability, their solutions aim to reduce size-related returns, aligning with the growing emphasis on eco-conscious practices. (1)(2)
5
Untapped Opportunity:
The recent announcement of My Size, Inc. (Nasdaq: MYSZ) entering the $7 billion pet apparel market positions the company to tap into a rapidly growing segment with limited competition. (6)
6
Consolidated Revenue Soars: My Size, Inc. (Nasdaq: MYSZ) reported a staggering 61% increase in consolidated revenue, reaching a total of $1,290,000 for the three months ended June 30, 2023. This surge in revenue is chiefly attributed to the growth witnessed at Orgad and the strategic acquisition of Naiz Fit. (25)
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High-Profile Partnerships: My Size has already established partnerships with renowned fashion brands, demonstrating its ability to attract and collaborate with industry leaders. MySizeID and Naiz Fit’s AI-driven sizing solutions were adopted by the following brands: Diesel, Celio, Superdry, Marithe François Girbaud, Replay, Canali, Harper & Neyer, Rotholz, and Natura.. (7)
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My Size, Inc. (Nasdaq: MYSZ)
Artificial Intelligence (AI) Market Poised for Explosive Growth, Expected to Reach Over $2.5 Trillion by 2032 (8)
The global artificial intelligence market has surged to unprecedented levels and shows no signs of slowing down. With a valuation of around $454 billionin 2022 and a projected compound annual growth rate (CAGR) of approximately 19%from 2023 to 2032, the market is experiencing a seismic shift driven by continuous research and innovation led by tech giants.(8)
Industries spanning automotive, healthcare, retail, finance, and manufacturing are embracing artificial intelligence as a central element of their operations. Tech giants are driving this transformation through substantial investments in research and development. For instance, Intel Corporation’s acquisition of Cnvrg.io, an Israeli company specializing in machine learning models, underscores the company’s commitment to advancing its artificial intelligence business.
Artificial intelligence has elevated technology to the forefront of organizations, revolutionizing various sectors. From self-driving vehicles reshaping transportation to life-saving medical equipment, AI has become an integral part of almost every device and software program. Its ability to analyze massive amounts of data, make complex decisions, and learn from patterns has made AI indispensable.(8)
As the global artificial intelligence market expands, it brings forth opportunities for innovation, efficiency, and growth. Industries are leveraging AI to optimize processes, enhance customer experiences, and achieve unparalleled levels of productivity.
Within this rapidly evolving landscape, one company to keep an eye on is My Size, Inc. (Nasdaq: MYSZ)
My Size, Inc. (Nasdaq: MYSZ) is an emerging player in the AI-driven measurement solutions market, offering innovative technologies to drive revenue growth and reduce costs for businesses. As industries increasingly adopt AI solutions, My Size’s offerings, such as MySizeID and Naiz Fit, hold great potential to disrupt traditional measurement processes in sectors like apparel, e-commerce, and logistics.
With a focus on delivering accurate and efficient measurement solutions, My Size, Inc. (Nasdaq: MYSZ) could be well-positioned to capitalize on the growth of the global artificial intelligence market.
Industries spanning automotive, healthcare, retail, finance, and manufacturing are embracing artificial intelligence as a central element of their operations. Tech giants are driving this transformation through substantial investments in research and development. For instance, Intel Corporation’s acquisition of Cnvrg.io, an Israeli company specializing in machine learning models, underscores the company’s commitment to advancing its artificial intelligence business.
Artificial intelligence has elevated technology to the forefront of organizations, revolutionizing various sectors. From self-driving vehicles reshaping transportation to life-saving medical equipment, AI has become an integral part of almost every device and software program. Its ability to analyze massive amounts of data, make complex decisions, and learn from patterns has made AI indispensable.(8)
As the global artificial intelligence market expands, it brings forth opportunities for innovation, efficiency, and growth. Industries are leveraging AI to optimize processes, enhance customer experiences, and achieve unparalleled levels of productivity.
Within this rapidly evolving landscape, one company to keep an eye on is My Size, Inc. (Nasdaq: MYSZ)
My Size, Inc. (Nasdaq: MYSZ) is an emerging player in the AI-driven measurement solutions market, offering innovative technologies to drive revenue growth and reduce costs for businesses. As industries increasingly adopt AI solutions, My Size’s offerings, such as MySizeID and Naiz Fit, hold great potential to disrupt traditional measurement processes in sectors like apparel, e-commerce, and logistics.
With a focus on delivering accurate and efficient measurement solutions, My Size, Inc. (Nasdaq: MYSZ) could be well-positioned to capitalize on the growth of the global artificial intelligence market.
My Size, Inc. (Nasdaq: MYSZ)
Could My Size, Inc. (Nasdaq: MYSZ)’s 52-Week High of $8.46 Suggest Over 729% in Upside Potential After Recently Bouncing Off Its 52-Week Low? (3)
Look at My Size, Inc. (Nasdaq: MYSZ) daily chart above and do a little technical analysis using StockCharts.com and Barchart.com (as of 39/7/23) you can see the following moving averages: (9)(3)
- Daily Average Price: $1.30
- 50 Day Moving Average $1.33
- 100 Day Moving Average $1.26
- 200 Day Moving Average $1.84
- 52-Week Low $1.02
- 52-Week High $8.46
Since bouncing off their 52-week low of $1.02 on 6/27/2023, shares of My Size, Inc. (Nasdaq: MYSZ) moved as much as 168% in less than 2 months when they reached $2.74 on 8/22/2023. (3)
My Size, Inc. (Nasdaq: MYSZ) has demonstrated the potential for significant upside potential with a 52-week range of $1.02 – $8.46. (3) Not that any returns to previous highs are certain, but the potential for a 729% upside, after bouncing off their 52-week low on 6/27/2023, suggests a strong reason to begin your research on this company.
In fact, Benzinga is reporting that one of the oldest financial institutions in the country, H.C. Wainwright, has a $3.00 target on shares of My Size, Inc. (Nasdaq: MYSZ), which would indicate over 129% in upside potential from their opening price of $1.31 on 9/7/23 according to Barchart.com’s pricing history. (21)(3)
My Size, Inc. (Nasdaq: MYSZ) just announced that the Company’s Founder and CEO, will participate in the H.C. Wainwright 25th Annual Global Investment Conference to be held September 11-13, 2023 at the Lotte New York Palace Hotel in New York City.
Additionally, GuruFocus.com, one of the leading financial portals online today, is reporting that the fair value for My Size, Inc. (Nasdaq: MYSZ) shares are $86.97, as of 8/23/23 according to a recent article found on Yahoo Finance. (22)
This would suggest a potential upside over 6,538% from the (MYSZ) opening price of $1.31 on 9/7/23. (3) A move of this size is not certain, but the GuruFocus fair value potential should be noted.
My Size, Inc. (Nasdaq: MYSZ) has demonstrated the potential for significant upside potential with a 52-week range of $1.02 – $8.46. (3) Not that any returns to previous highs are certain, but the potential for a 729% upside, after bouncing off their 52-week low on 6/27/2023, suggests a strong reason to begin your research on this company.
In fact, Benzinga is reporting that one of the oldest financial institutions in the country, H.C. Wainwright, has a $3.00 target on shares of My Size, Inc. (Nasdaq: MYSZ), which would indicate over 129% in upside potential from their opening price of $1.31 on 9/7/23 according to Barchart.com’s pricing history. (21)(3)
My Size, Inc. (Nasdaq: MYSZ) just announced that the Company’s Founder and CEO, will participate in the H.C. Wainwright 25th Annual Global Investment Conference to be held September 11-13, 2023 at the Lotte New York Palace Hotel in New York City.
Additionally, GuruFocus.com, one of the leading financial portals online today, is reporting that the fair value for My Size, Inc. (Nasdaq: MYSZ) shares are $86.97, as of 8/23/23 according to a recent article found on Yahoo Finance. (22)
This would suggest a potential upside over 6,538% from the (MYSZ) opening price of $1.31 on 9/7/23. (3) A move of this size is not certain, but the GuruFocus fair value potential should be noted.
My Size, Inc. (Nasdaq: MYSZ)
My Size, Inc. (Nasdaq: MYSZ)’s Ultra-Low Float Demands Your Immediate Attention! (23)(4)
Low float stocks refer to the securities that remain after a company’s stock has been issued to its controlling investors — meaning there are relatively few shares for the public to buy.(23)
Market participants typically consider a float of 10-to-20 million shares as a low float. Some larger corporations have very high floats in the billions.(23)
Companies with a low float frequently have a large portion of their equity held by controlling investors such as directors and employees, which leaves only a tiny percentage of the stock available for public trading. (23)
That limited supply can cause dramatic price swings if demand changes quickly. (23)
Because low-float stocks have fewer shares available, market participants may have difficulty finding shares available. (23)
My Size, Inc. (Nasdaq: MYSZ) has less than 1.5 million shares available in its float (as of 9/7/23) according to FinViz.com.(4) A low-float stock can make significant moves due to volatility from so few shares being available(23), so this could be one interesting situation to watch closely.
My Size, Inc. (Nasdaq: MYSZ) is also considered a nano-cap. In general, nano-cap companies have market capitalizations of less than $50 million.(26) Because nano-cap stocks are significantly smaller than mid cap or large cap companies, they have a higher potential to change valuation quickly.(27)
As of 9/7/23, My Size, Inc. (Nasdaq: MYSZ) has a market cap of less than $2.2 million according to Finviz.com. (4)
Which is why things could get very interesting and also why you need to start your research on My Size, Inc. (Nasdaq: MYSZ).
My Size, Inc. (Nasdaq: MYSZ): An Emerging AI-driven Measurement Solutions Company Poised To Disrupt The $38 Billion Apparel Returns Market.
The global artificial intelligence (AI) market is poised for exponential growth, and My Size, Inc. (Nasdaq: MYSZ) is making significant strides in this dynamic landscape. (11)
My Size, Inc. (Nasdaq: MYSZ) is an emerging AI-driven measurement solutions company set to disrupt the $38 billion apparel returns market. With a strong focus on sustainability, their solutions aim to reduce size-related returns, aligning with the growing emphasis on eco-conscious practices. (1)(2)
Founded in 2014 by Ronen Luzon, My Size was born out of a frustration with the challenges of online shopping, particularly the uncertainty around sizing and the hassle of returning ill-fitting items. Recognizing the impact of these issues on both consumers and retailers, Luzon set out to create a solution that would standardize sizing and enhance the online shopping experience. (11)
My Size developed a range of measurement apps, including MySizeID, BoxSize, SizeUP, First Look Smart Mirror, and Smart Catalogue, all based on the company’s patented algorithms and software development kits (SDK). These innovative measurement solutions have revolutionized the way consumers find the right fit across various size charts, driving buyer satisfaction and reducing costs for online retailers. (11)
Let’s take a closer look at My Size, Inc. (Nasdaq: MYSZ)’s AI-driven measurement solutions:
MySizeID
By leveraging My Size, Inc. (Nasdaq: MYSZ)’s MySize ID, retailers can match shoppers’ personal measurements with their brand’s size chart, resulting in significantly fewer returns and increased customer satisfaction. The platform comprises three essential elements: the widget, app, and My Dash. (16)
The widget is seamlessly integrated into the retailer’s e-commerce platform, displaying size recommendations for individual shoppers on a per-item basis. These recommendations are based on data input into My Dash, the user-friendly size chart editor. Retailers can create a unique size profile for their customers using the MySize ID app or the online sizing wizard available on the My Size ID website. (16)
My Dash plays a pivotal role by generating a comprehensive size chart for each apparel item and integrating it directly with the retailer’s product lifecycle management (PLM) and inventory database. Furthermore, MySize ID offers analytics with aggregated customer data, providing in-depth insights into consumer behavior. These insights enable retailers to further enhance personalization and tailor their offerings to meet customer preferences. (16)
The MySize ID app or software development kit (SDK) empowers shoppers to create personalized size profiles by recording their body measurements with their smartphones. This convenience extends beyond online shopping and can be implemented in brick-and-mortar stores. Shoppers can easily scan barcodes, receive size recommendations, and make purchases directly through the app, bypassing fitting rooms and registers. (16)
BoxSize
BoxSize: The Perfect Measuring Tool for Logistic Companies (17)
Logistic companies often face the challenge of accurately measuring packages to ensure efficient shipping and storage. With Box Size, an innovative measuring tool, logistics professionals can streamline their operations and optimize package measurements. (17)
To get started with Box Size, simply log into the Box Size app using your email address and organization code. Once logged in, you can easily scan the package’s barcode or add it manually. If the barcode is unavailable, you can leave the field blank and take all three measurements in one click.
Using the app, place your device on the surface next to the package, towards the bottom right corner, and tap “start.” Wait for the beep, then move the device to the top of the package. After another beep, move the device to the left side of the package. Finally, move the device to the upper left end of the package and wait for the last beep. Tap “save” to store all three measurements.
Box Size allows you to measure each dimension separately as well. To measure the package’s height, tap on the “height” option and place your device near the package’s surface. Tap “start” and wait for the beep, then gently lift your device and place it on top of the package. Remember to tap “save measurement” before continuing.
If needed, you can redo measurements by tapping “measure again.” Box Size also offers flexibility in measurement methods. You can change the height measurement method in the app’s settings, allowing you to move the device from a top corner to the same side’s bottom corner. (17)
Box Size provides additional features to enhance measurement accuracy. You can customize measurement units and add the package’s weight, comments, pictures, and select the package type. Once you have finalized the measurements, tap “confirm and send file” to save the package’s information and transmit it to the Box Size dashboard or your server.
By using Box Size, logistic companies can ensure precise package measurements, leading to improved efficiency, reduced errors, and enhanced logistics operations. With its user-friendly interface and comprehensive functionality, Box Size is the perfect solution for accurate package measuring in the logistics industry. (17)
SizeUP
The SizeUp App is based on technology developed by MySize Inc. These revolutionary patent-pending algorithms that utilize Smartphone sensors to accurately measure anything from everyday objects to body measurements. (18)
First Look Smart Mirror
Introducing First Look Smart Mirror, an interactive point-of-sale (POS) display that revolutionizes the in-store fashion shopping experience. With My Size ID integration, customers can preview items on a virtual avatar, ensuring accurate personalized sizing and fit. Real-time stock availability and upselling recommendations enhance the shopping journey, while NFC technology enables seamless checkout. This innovative solution reduces returns, boosts sales, and increases customer satisfaction. (19)
Benefits of First Look Smart Mirror (19)
- Personalized Sizing: Customers input their measurements, and the mirror provides accurate size and fit checks.
- Stock Checking and Assistance: Real-time stock availability information and sales concierge service streamline the shopping process.
- Upselling and Complete Looks: Complementary items and accessories are showcased to enhance the styling experience.
- Effortless Checkout: NFC technology enables simple and contactless payments.
Advantages for Retailers (19)
- Reduced Returns: Accurate sizing information and virtual try-on capabilities minimize returns and exchanges.
- Increased Sales: Upselling recommendations and complete looks drive additional purchases.
- Enhanced Customer Experience: Convenience, personalized assistance, and seamless checkout foster brand loyalty and satisfaction.
First Look Smart Mirror by My Size transforms the in-store fashion shopping experience, delivering personalized sizing, real-time stock availability, upselling, and effortless checkout. Retailers can enjoy reduced returns, increased sales, and improved customer satisfaction. Elevate your brick-and-mortar store with this innovative solution and stay ahead in the ever-evolving retail landscape. (19)
As a testament to its growth and potential, My Size experienced significant investments and went public on NASDAQ in 2016. The company’s commitment to continuous innovation and expansion led to partnerships with renowned fashion brands, including Diesel, Natura, and Rotholz, among others, which adopted My Size’s AI-driven sizing solutions in 2022. (11)
Beyond its achievements, My Size is gaining recognition for its positive impact on sustainability. By reducing size-related returns, the company’s solutions align with the growing emphasis on environmentally conscious practices, making it an appealing choice for socially responsible stakeholders. (11)
Looking ahead, the global AI market is set to witness remarkable growth across industry verticals such as automotive, healthcare, retail, finance, and manufacturing. Tech giants like Google, Microsoft, IBM, Amazon, and Apple are investing heavily in AI research and development, further fueling technological advancements in these sectors. With a projected CAGR of 37.3% from 2023 to 2030, the global AI market is on track to reach a value of $1,591.03 billion by 2030. (8)
Favorable government initiatives are also shaping the industry landscape, as countries recognize the transformative potential of AI. For example, the Government of India has increased spending for its Digital India initiative to boost AI, IoT, big data, cybersecurity, machine learning, and robotics. Similarly, the establishment of subcommittees on machine learning and AI within the federal government in the United States underscores the growing traction and support for AI-related advancements. (8)
As the AI market continues to evolve, My Size, Inc. stands out as a company to watch. Its AI-driven measurement solutions have the potential to redefine the online shopping experience, enhance customer satisfaction, and drive revenue growth for businesses. With its innovative approach and commitment to technological advancement, My Size is poised to make a lasting impact in the ever-expanding AI landscape. (11)
Untapped Opportunity: My Size, Inc. (Nasdaq: MYSZ) Entering the $7 Billion Pet Apparel Market
MySize, Inc. (Nasdaq: MYSZ) is set to make a groundbreaking move into the pet apparel market with the launch of MySizeID, an AI-driven sizing solution designed specifically for dogs and cats. This innovative solution aims to address the challenges faced by pet owners in finding the right fit and maximizing apparel comfort for their furry companions. (6)
The pet apparel market is experiencing remarkable growth and is projected to reach an estimated value of $7 billion by 2028. Factors such as the increasing number of pet owners worldwide, the trend of pet humanization, the demand for sustainable pet clothing, and the entry of high-profile human fashion brands into the pet apparel sector are driving this expansion.
Notable fashion brands like Urban Outfitters, H&M, Moschino, Moncler, and Ralph Lauren have started offering pet apparel as an extension of their brand offerings. (6)
MySize, Inc. (Nasdaq: MYSZ), known for its digital sizing solutions like MySizeID and Naiz Fit, is capitalizing on its position as a leading provider of accurate sizing recommendations for consumers. By extending its technology to the pet apparel market, MySize aims to revolutionize the way pet owners choose the right size for their furry friends. With a mobile phone-based sizing solution, MySizeID aims to simplify the process for pet parents and reduce the likelihood of size-related returns when purchasing pet apparel online. (6)
In addition to providing convenience and accuracy in size recommendations, MySize, Inc. (Nasdaq: MYSZ) also aligns with the growing emphasis on sustainability in the fashion industry. By reducing size-related returns, the solution helps mitigate the environmental impact associated with the pet apparel market. (6)
Ronen Luzon, CEO and Founder of MySize, Inc. (Nasdaq: MYSZ), expressed excitement about the company’s foray into the pet apparel market. He highlighted the need for an easy-to-use sizing solution given the wide variety of dog breeds, sizes, and proportions. Luzon believes that MySizeID will be the first pet apparel sizing solution on the market, making it a pioneering offering in the industry. (6)
MySize’s expansion into the pet apparel market aligns with its overarching mission to drive revenue growth and reduce costs for its business clients. The company’s portfolio includes an omnichannel e-commerce platform, AI-driven measurement solutions, and the recently launched FirstLook Smart Mirror, which enhances the in-store shopping experience. (6)
With its sophisticated measurement technology and commitment to innovation, MySize continues to make strides in various industries, including apparel, e-commerce, DIY, shipping, and parcel delivery. The company’s unique algorithms enable accurate and efficient measurements, contributing to improved customer experiences and operational efficiencies across diverse sectors. (6)
My Size, Inc. (Nasdaq: MYSZ)
My Size, Inc. (Nasdaq: MYSZ) Revolutionizes Inventory Management and Boosts Revenues for La Garrocha…(26)
In a remarkable success story, My Size, Inc. (Nasdaq: MYSZ) has announced the transformative impact of their AI-powered apparel sizing tool, Naiz Fit, on La Garrocha, a prestigious Spanish fashion brand renowned for its equestrian-themed creations. La Garrocha’s strategic implementation of Naiz Fit has not only streamlined inventory management but has also led to increased customer conversions and a substantial uptick in sales. (26)
A Powerful Partnership
La Garrocha has long been celebrated for its unique fashion offerings, but like many businesses in the modern era, they faced the challenge of optimizing inventory and enhancing the online shopping experience for their customers. This is where My Size, Inc. (Nasdaq: MYSZ) and their innovative Naiz Fit solution entered the picture.
Over the past two years, La Garrocha has witnessed a significant transformation in its operations. Customers who utilized Naiz Fit during their shopping experience contributed nearly €600,000 (approximately $654,000.00) in purchases. This is a testament to the substantial value that My Size’s technology brought to La Garrocha’s bottom line.
Impressive Conversion Rates
The impact of Naiz Fit on La Garrocha’s conversion rates is nothing short of remarkable. Since the beginning of 2023, an impressive 14.28% of first-time visitors to La Garrocha’s e-commerce platform who used Naiz Fit proceeded to make purchases. What’s even more astounding is that customers who engaged with Naiz Fit exhibited a staggering 127% higher likelihood of completing a purchase compared to those who did not use the sizing tool.
These numbers are particularly significant for La Garrocha, as a substantial portion of their sales occur online. The utilization of Naiz Fit has not only improved their conversion rates but also streamlined the shopping process for their customers, ultimately enhancing the brand’s competitiveness in the digital market.
Streamlined Inventory Management
Miguel Ángel García Rodríguez, CEO, and Co-Founder at La Garrocha, highlights the complexity of managing inventory, especially when dealing with multiple sizes per garment. He expressed his trust in Naiz Fit, stating,
"We rely on experience and place significant trust in Naiz Fit. We continuously monitor the Naiz Fit dashboard to see which size recommendations have been requested per item. Based on this analysis, we optimize inventory purchases to ensure customers have the sizes and styles they want while also increasing our turnover and minimizing unsold inventory." (26)
This demonstrates how Naiz Fit has not only improved customer experiences but also revolutionized the backend processes, making inventory management more efficient and cost-effective.
A Vision for the Future
Ronen Luzon, Founder and CEO of My Size, Inc. (Nasdaq: MYSZ), emphasizes the broader impact of this partnership, saying,
The triumph of La Garrocha serves as a dynamic testament to the remarkable advantages unlocked by My Size's apparel sizing solutions for apparel retailers, customers, and environmental sustainability. Through this collaboration, we hope to redefine industry standards while amplifying My Size's role in fueling business growth for our customers." (26)
The success story of La Garrocha and My Size, Inc. illustrates the power of technology in transforming traditional businesses. Naiz Fit not only improves customer satisfaction and conversion rates but also brings tangible benefits to inventory management. As businesses continue to adapt to the digital age, partnerships like these are poised to reshape the retail landscape and drive innovation across industries. (26)
My Size, Inc. (Nasdaq: MYSZ) recently unveiled its impressive financial results for the second quarter of 2023. The company’s remarkable performance is primarily attributed to the robust growth seen at Orgad, alongside the successful acquisition of Naiz Fit. Let’s delve into the key financial and operational highlights of this thriving company. (25)
A Look at the Financials
Consolidated Revenue Soars: My Size, Inc. (Nasdaq: MYSZ) reported a staggering 61% increase in consolidated revenue, reaching a total of $1,290,000 for the three months ended June 30, 2023. This surge in revenue is chiefly attributed to the growth witnessed at Orgad and the strategic acquisition of Naiz Fit. (25)
Gross Profit Follows Suit: Mirroring the impressive revenue growth, gross profit also witnessed a significant 61% increase, reaching $519,000 during the same period.
Stable Gross Profit Margin: Despite the substantial growth in revenue and gross profit, the company managed to maintain a stable gross profit margin, which stood firm at 40%.
Cost of Revenues: As expected with growing operations, the cost of revenues also increased by 61%, totaling $771,000 for the second quarter of 2023.
Operational Improvements: My Size, Inc. (Nasdaq: MYSZ) demonstrated effective cost management, as reflected in a 6% reduction in operating loss, which amounted to $1,554,000 for the quarter.
Net Loss Narrows: The company experienced a significant 25% reduction in net loss, with figures narrowing down to $1,291,000 for the three months ended June 30, 2023.
Healthy Inventory Balance: As of June 30, 2023, the company maintained an inventory balance of $1,043,000, indicating prudent inventory management practices. (25)
Operational Highlights
Expanding User Base: My Size, Inc. (Nasdaq: MYSZ) and Naiz Fit SaaS apparel sizing solutions achieved remarkable milestones during the second quarter. The platform served 5 million end users worldwide, made 35.6 million size recommendations, and facilitated the purchase of 17.9 million items through 7 million orders.
Reducing Returns: My Size, Inc. (Nasdaq: MYSZ)’s solutions led to an impressive reduction of up to 65% in size-related returns compared to shoppers who did not utilize these sizing solutions at the same online stores.
Lucrative Revenues: The company generated €790 million worth of sales to Naiz Fit and MySizeID users, highlighting the substantial revenue potential of its solutions.
SaaS Revenue Growth: SaaS revenues from My Size, Inc. (Nasdaq: MYSZ), Naiz Fit, and Smart Catalog more than doubled compared to the first quarter of 2022, indicating the increasing adoption and effectiveness of these solutions.
Orgad’s Success: Orgad, a key subsidiary, achieved substantial sales growth in the first half of 2023, particularly on Amazon, with sales reaching $1.74 million. Orgad strategically shifted to utilizing Fulfillment by Amazon (FBA), reducing inventory risk and enhancing operating efficiencies.
Global Expansion: Luxury Italian menswear fashion brand Canali adopted the Naiz Fit sizing solution across all 32 of its e-commerce sites in Europe and the U.S., demonstrating the wide applicability and appeal of My Size’s offerings. (25)
Management Perspective
Ronen Luzon, the Founder and CEO of My Size, Inc. (Nasdaq: MYSZ), expressed confidence in the company’s strength and growth trajectory, emphasizing the following points:
- Robust revenue growth coupled with decreasing operational costs during the second quarter.
- Enhanced profitability at Orgad through advanced AI tools and strategic sales outreach in North America.
- Impressive results from SaaS-based apparel sizing solutions, including reduced returns, higher conversions, and increased sales.
- Continued reduction in R&D spending while recurring revenues continue to rise.
- Capitalizing on synergies across business segments by reallocating resources to Naiz Fit's operations hub in Spain.
- Expectation of continued robust revenue growth and improved operating efficiencies, moving towards cash flow positivity in the remainder of 2023.
My Size, Inc. (Nasdaq: MYSZ) has demonstrated remarkable growth and resilience in the second quarter of 2023. With substantial increases in revenue, gross profit, and a narrowing of losses, the company is on a path of sustained success. Their innovative sizing solutions, impressive partnerships, and strategic acquisitions have positioned them as a prominent player in the e-commerce industry. As they continue to expand their user base and drive efficiency across their operations, My Size, Inc. (Nasdaq: MYSZ) is poised for a promising future in the world of AI-driven measurement solutions. (25)
Untapped Opportunity: Emerging AI-driven Measurement Solutions Company Poised to Disrupt $38 Billion Market, Receives Bullish Target From Wall Street Analyst…(1)(2)
See why now could be the best time to start your research on My Size, Inc. (Nasdaq: MYSZ).
7 Reasons Why My Size, Inc. (Nasdaq: MYSZ) Could Be Poised For Significant Upside Potential in 2023.
1
Active Chart:
Shares of My Size, Inc. (Nasdaq: MYSZ) recently bounced off their 52-week low of $1.02 on 6/27/23 before surging over 168% in less than 2 months when they reached $2.74 on 8/22/23. (3) Their 52-week high of $8.46 set back on 12/8/22 could suggest an upside potential of over 729% from their 52-week low. (3) A move back to previous levels is not certain, but the potential should be noted. (3)
2
Ultra Low Float: According to Finviz.com, My Size, Inc. (Nasdaq: MYSZ) has less than 1.42 million shares available in its public float with insiders owning approximately 18.38% as of 9/7/23.(4)
3
AI-Driven Technology: My Size, Inc. (Nasdaq: MYSZ) boasts a portfolio of cutting-edge, AI-driven measurement solutions that have the potential to revolutionize multiple industries. (5)
4
Disruptive Market Potential with Sustainability Focus: My Size, Inc. (Nasdaq: MYSZ) is an emerging AI-driven measurement solutions company set to disrupt the $38 billion apparel returns market. With a strong focus on sustainability, their solutions aim to reduce size-related returns, aligning with the growing emphasis on eco-conscious practices. (1)(2)
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Untapped Opportunity:
The recent announcement of My Size, Inc. (Nasdaq: MYSZ) entering the $7 billion pet apparel market positions the company to tap into a rapidly growing segment with limited competition. (6)
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Consolidated Revenue Soars: My Size, Inc. (Nasdaq: MYSZ) reported a staggering 61% increase in consolidated revenue, reaching a total of $1,290,000 for the three months ended June 30, 2023. This surge in revenue is chiefly attributed to the growth witnessed at Orgad and the strategic acquisition of Naiz Fit. (25)
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High-Profile Partnerships: My Size has already established partnerships with renowned fashion brands, demonstrating its ability to attract and collaborate with industry leaders. MySizeID and Naiz Fit’s AI-driven sizing solutions were adopted by the following brands: Diesel, Celio, Superdry, Marithe François Girbaud, Replay, Canali, Harper & Neyer, Rotholz, and Natura.. (7)
Source 1: https://mysizeid.com/mysizeid-app/
Source 2: https://coresight.com/research/the-true-cost-of-apparel-returns-alarming-return-rates-require-loss-minimization-solutions/
Source 3: https://www.barchart.com/stocks/quotes/MYSZ/price-history/historical?orderBy=highPrice&orderDir=desc
Source 4: https://finviz.com/quote.ashx?t=MYSZ&p=d
Source 5: https://mysizeid.com/reports/mysize-to-exhibit-at-the-retail-technology-show-2023-in-london/
Source 6: https://mysizeid.com/reports/mysizeid-for-pets-mysize-to-launch-ai-driven-sizing-solution-for-5-billion-pet-clothing-market/
Source 7: https://mysizeid.com/reports/mysize-reports-first-quarter-2023-financial-results/
Source 8: https://www.precedenceresearch.com/artificial-intelligence-market
Source 9: https://schrts.co/xBVZFHbB
Source 10: https://www.state.gov/wp-content/uploads/2021/06/AI-Motherboard-scaled.jpg
Source 11: https://mysizeid.com/mysize-tech/
Source 12: https://miro.medium.com/v2/resize:fit:1000/1*mp6XQVziN3SnFoR94aEPzg.jpeg
Source 13: https://fashionweekonline.com/wp-content/uploads/2021/02/karsten-winegeart-featured-1.jpg
Source 14: https://www.rlmedia.io/is/image/PoloGSI/s7-1370663_lifestyle?$plpDeskRF$
Source 15: https://mysizeid.com/reports/mysize-reports-2022-full-year-financial-results-meets-revenue-guidance-of-4-5-million/
Source 16: https://www.youtube.com/watch?v=RzD7btn76cs
Source 17: https://www.youtube.com/watch?v=4K9rOTsgo8A
Source 18: https://mysizeid.com/sizeup/
Source 19: https://www.youtube.com/watch?v=AamDzCDOeOA
Source 20: https://mma.prnewswire.com/media/700474/MySize_Logo.jpg?p=twitter
Source 21: https://www.benzinga.com/quote/MYSZ/analyst-ratings
Source 22: https://finance.yahoo.com/news/unpacking-value-trap-deep-dive-154122134.html
Source 23: https://www.sofi.com/learn/content/understanding-low-float-stocks/
Source 24: https://investmentu.com/low-float-stocks/
Source 25: https://finance.yahoo.com/news/mysize-reports-second-quarter-2023-130000788.html
Source 26: https://finance.yahoo.com/news/spanish-fashion-brand-la-garrocha-130000841.html
Source 2: https://coresight.com/research/the-true-cost-of-apparel-returns-alarming-return-rates-require-loss-minimization-solutions/
Source 3: https://www.barchart.com/stocks/quotes/MYSZ/price-history/historical?orderBy=highPrice&orderDir=desc
Source 4: https://finviz.com/quote.ashx?t=MYSZ&p=d
Source 5: https://mysizeid.com/reports/mysize-to-exhibit-at-the-retail-technology-show-2023-in-london/
Source 6: https://mysizeid.com/reports/mysizeid-for-pets-mysize-to-launch-ai-driven-sizing-solution-for-5-billion-pet-clothing-market/
Source 7: https://mysizeid.com/reports/mysize-reports-first-quarter-2023-financial-results/
Source 8: https://www.precedenceresearch.com/artificial-intelligence-market
Source 9: https://schrts.co/xBVZFHbB
Source 10: https://www.state.gov/wp-content/uploads/2021/06/AI-Motherboard-scaled.jpg
Source 11: https://mysizeid.com/mysize-tech/
Source 12: https://miro.medium.com/v2/resize:fit:1000/1*mp6XQVziN3SnFoR94aEPzg.jpeg
Source 13: https://fashionweekonline.com/wp-content/uploads/2021/02/karsten-winegeart-featured-1.jpg
Source 14: https://www.rlmedia.io/is/image/PoloGSI/s7-1370663_lifestyle?$plpDeskRF$
Source 15: https://mysizeid.com/reports/mysize-reports-2022-full-year-financial-results-meets-revenue-guidance-of-4-5-million/
Source 16: https://www.youtube.com/watch?v=RzD7btn76cs
Source 17: https://www.youtube.com/watch?v=4K9rOTsgo8A
Source 18: https://mysizeid.com/sizeup/
Source 19: https://www.youtube.com/watch?v=AamDzCDOeOA
Source 20: https://mma.prnewswire.com/media/700474/MySize_Logo.jpg?p=twitter
Source 21: https://www.benzinga.com/quote/MYSZ/analyst-ratings
Source 22: https://finance.yahoo.com/news/unpacking-value-trap-deep-dive-154122134.html
Source 23: https://www.sofi.com/learn/content/understanding-low-float-stocks/
Source 24: https://investmentu.com/low-float-stocks/
Source 25: https://finance.yahoo.com/news/mysize-reports-second-quarter-2023-130000788.html
Source 26: https://finance.yahoo.com/news/spanish-fashion-brand-la-garrocha-130000841.html