My SizeNASDAQ: MYSZ

My Size (MYSZ) has been upgraded to a Zacks Rank #2 (Buy), reflecting growing optimism about the company's earnings prospects. This might drive the stock higher in the near term.

Highlighting 53% Revenue Growth and Path to Profitability   Revenues and gross profits up 53% and 61%, respectively, driven by growth at Orgad and Naiz Fit  AIRPORT CITY, Israel , Aug. 14, 2024 /PRNewswire/ -- MySize, Inc. (NASDAQ: MYSZ), a leader in AI-driven measurement solutions for the e-commerce industry, today announced its financial results for the second quarter ended June 30, 2024. The company reported robust financial performance, marked by a 53% increase in revenues and a 61% rise in gross profit, reflecting the strong performances of Orgad and the successful markets penetration from Naiz Fit.

My Size (MYSZ) appears to have found support after losing some value lately, as indicated by the formation of a hammer chart. In addition to this technical chart pattern, strong agreement among Wall Street analysts in revising earnings estimates higher enhances the stock's potential for a turnaround in the near term.

In the first quarter of 2024, MySize reported revenues of $2.98 million, a 314% increase from the same period in the prior year. The increase in revenue was mainly due to the acquisition of Orgad Software-as-a-Service. Additionally, SaaS revenues increased by 25% to $177,000, and gross profit improved to $1.196 million from a loss of $1.147 million in the previous year.

MySize Inc (NASDAQ:MYSZ) has announced that its third quarter 2023 revenue rose 197% year over year to $2.156 million, driven primarily by growth at Orgad and software as a service (SaaS) solution including Naiz Fit.  The omnichannel e-commerce platform and provider of AI-driven measurement solutions also said its gross profit margin for the period increased to 64%.

MySize Inc (NASDAQ:MYSZ) announced that its Spain-based Naiz Fit has launched a new sizing solution product—Naiz Fit Workforce—specifically addressing the needs of the $33 billion global workwear and uniforms market.    The omnichannel e-commerce platform and provider of AI-driven measurement solutions said Naiz Fit Workforce is the latest addition to MySize's growing portfolio of software as a service (SaaS) recurring revenue products.

MySize Inc (NASDAQ:MYSZ) said it now expects to report revenue for 2023 of $8 million, nearly doubling revenue of $4.46 million in the previous financial year driven by growth at Orgad and the Naiz Fit and MySizeID artificial intelligence (AI)-driven sizing solutions. MySize acquired the omnichannel e-commerce platform Orgad and its sizing technology competitor Naiz Fit in 2022.

MySize Inc (NASDAQ:MYSZ) announced that its Spain-based apparel sizing solution Naiz Fit won the “Agile Customer Journey” innovation award at Paris Retail Week 2023. The company noted that Naiz Fit was recognized at Paris Retail Week for its suite of Software-as-a-Service (SaaS) solutions that help the fashion industry reduce size-related returns, which has resulted in a 65% reduction in size-related returns compared to brands that did not use the solution at the same stores for the same items.

MySize Inc (NASDAQ:MYSZ) has reported positive results from a pilot program of its Software-as-a-Service solution Smart Catalogue with Portugal-based brand Salsa Jeans. Shares of the company rose on the news, up 15% at US$1.35 in early trade on Wednesday.