MySize Reports Strong Revenue Growth and Expands Global Footprint
MySize, Inc. (NASDAQ: MYSZ), a global leader in AI-powered sizing solutions and omnichannel e-commerce platforms, has released its annual shareholder update, showcasing a year of impressive growth, strategic advancements, and promising future opportunities.
Delivering on Revenue and Efficiency
MySize projects closing 2024 with $8.5 million in revenue, marking a 23% year-over-year increase. The company attributes this robust growth to the expanding footprint of its e-commerce platform, Orgad, and transformative technological advancements. Looking ahead, MySize aims to reach $15 million in revenue by 2025, driven by favorable market conditions and strategic initiatives.
Additionally, the company anticipates significant operational cost savings, enhancing cash flow flexibility and enabling further strategic investments. “Our preliminary financial results highlight Orgad’s pivotal role in driving our revenue growth,” said Ronen Luzon, Founder and CEO of MySize. “2024 has proven that our strategy is not just ambitious but highly effective, laying the groundwork for sustainable growth.”
Expanding into Europe
A cornerstone of MySize’s strategy is the geographic expansion of Orgad. While historically focused on North America, Orgad is now establishing a strong presence in Europe. This move follows a key certification to become a supplier for a major European retailer, signaling new growth opportunities in one of the largest retail markets globally.
“We believe that Europe represents a significant opportunity for Orgad as we tap into new markets and strengthen relationships with global retail leaders,” Luzon noted. “The certification underscores our commitment to delivering excellence and demonstrates our ability to adapt to emerging opportunities.”
M&A and Technological Innovation
As part of its growth strategy, MySize is actively exploring mergers and acquisitions within its core industries. This approach aims to strengthen its market position, enhance technological capabilities, and broaden its service offerings.
With cutting-edge AI-driven sizing solutions and an omnichannel approach, MySize continues to redefine e-commerce experiences. The company’s focus on innovation, strategic market expansion, and financial efficiency positions it for sustained success.
MySize’s achievements in 2024 highlight its ability to execute ambitious strategies and capitalize on global opportunities, setting the stage for a transformative year ahead.
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