Executive Summary

Q3 2024 revenue declined 14.7% year over year to $1.839M, driven by low inventory and seasonality at Orgad; gross profit fell to $0.791M and EPS was $(3.52) .
Operating loss widened to $(1.306)M in Q3; management recorded a $0.631M goodwill impairment in the SaaS Solutions segment due to lower growth assumptions and sustained share price declines, a negative near-term catalyst .
Sequentially, revenue fell versus Q2 ($1.979M) and Q1 ($2.984M), while gross margin compressed versus Q2; cost pressure included higher shipping and cost of goods .
Liquidity remained limited (cash and equivalents $2.371M at 9/30/24) and the company flagged substantial doubt about going concern absent additional capital, a key risk for investors .
Management later issued preliminary FY24 revenue of ~$8.5M and targeted ~$15M for FY25; if realized, this would be a narrative-positive setup, contingent on execution and financing availability .

What Went Well and What Went Wrong

What Went Well

SaaS Solutions continued to be strategically emphasized; across 2024, Naiz Fit delivered 42M size recommendations, 1.5M virtual try-ons, increased conversion 5.7x, cut returns 14%, and lifted AOV 27%—demonstrating product-market impact even as financials remained pressured .
Management focus on cost discipline: R&D and G&A were lower year over year in Q3, aiding nine-month operating loss reduction versus 2023 .
CEO commentary reiterated strategic direction: “Our 53% revenue growth and 61% increase in gross profit [in Q2] are clear indicators that our efforts…are paying off,” highlighting execution in Orgad and SaaS ahead of Q3’s seasonal/inventory headwinds .

What Went Wrong

Q3 revenue decreased to $1.839M (vs $2.156M YoY) on Orgad inventory constraints and seasonality; gross profit dropped to $0.791M; operating loss increased YoY .
A $0.631M goodwill impairment was recorded in Q3 for SaaS Solutions, reflecting lowered revenue growth assumptions (e.g., narrowed ranges to 4–32%) and sustained share price weakness .
Cost pressure: shipping and cost of goods increased in Q3; liquidity headwinds persisted with management stating substantial doubt about going concern beyond 12 months without new capital .

Financial Results

Consolidated results and EPS

Metric	Q3 2023	Q1 2024	Q2 2024	Q3 2024
Revenue ($USD Millions)	$2.156	$2.984	$1.979	$1.839
Gross Profit ($USD Millions)	$1.376	$1.196	$0.984	$0.791
Gross Margin %	63.8%	40.1%	49.7%	43.0%
Operating Loss ($USD Millions)	$(1.105)	$(1.071)	$(0.877)	$(1.306)
Net Loss ($USD Millions)	$(1.132)	$(1.016)	$(0.964)	$(1.300)
Basic & Diluted EPS ($USD)	$(1.25)	$(1.88)	$(4.24)	$(3.52)
Goodwill Impairment ($USD Millions)	$0.000	$0.000	$0.000	$0.631

Notes:

Margins computed from reported revenues and gross profit (citations reference underlying values).

Segment breakdown (revenue and operating loss)

Metric	Q3 2023	Q3 2024
Fashion & Equipment e-commerce platform Revenue ($USD Millions)	$1.994	$1.667
SaaS Solutions Revenue ($USD Millions)	$0.162	$0.172
Fashion & Equipment e-commerce platform Operating Loss ($USD Millions)	$(0.440)	$(1.113)
SaaS Solutions Operating Loss ($USD Millions)	$(0.665)	$(0.193)

KPIs (platform and product)

KPI	Value / Change	Source
Personalized size recommendations	42M
Virtual try-ons	1.5M
Conversion	+5.7x
Return rate	−14%
Average order value (AOV)	+27%
Consumer engagement	+15%

Guidance Changes

Metric	Period	Previous Guidance	Current Guidance	Change
Revenue	FY 2024	N/A	~$8.50M	New
Revenue	FY 2025	N/A	~$15.00M	New

Earnings Call Themes & Trends

Note: We searched for a Q3 2024 earnings call transcript but found none in the document catalog for MYSZ during the relevant period; thus themes draw from Q1/Q2 press releases and Q3 10-Q MD&A –.

Topic	Previous Mentions (Q-2 and Q-1)	Current Period (Q3 2024)	Trend
AI/technology initiatives	Q2: CEO emphasized AI-driven retail solutions and gross profit improvement . Q1: Launch of FirstLook Smart Mirror; focus on personalization and engagement .	SaaS Solutions goodwill impairment reflects reassessed growth rates; continued product relevance via Naiz Fit KPIs (annual) .	Mixed: strategic traction, near-term financial reset.
Supply chain/inventory	Q1: Shift to Fulfillment by Amazon (FBA) to improve ops . Q2: Amazon fees up with sales .	Q3 revenue down due to low inventory and seasonality; shipping and COGS increased .	Headwinds in Q3.
Tariffs/macro/geopolitics	Q1/Q2: Israel war impact immaterial due to Spain hub, FBA usage .	Q3: Continued immaterial impact; overall risk disclosures maintained –.	Stable but elevated risk.
Product performance	Q1/Q2: Orgad drove growth; SaaS steady .	Q3: Orgad revenue decline on inventory/seasonality; SaaS revenue slightly up YoY .	Mixed.
Regional trends	Q1: ~80% revenue from US .	Announced expansion toward Europe, supplier certification with a major European retailer (late December PR) .	Diversifying.
Regulatory/legal	Ongoing North Empire litigation; movement toward settlement .	Settlement terms agreed in Oct 2024; ~$40K loss recognized .	Resolving.
R&D execution	Q1/Q2: R&D down with reduced headcount/subcontractors .	Q3: R&D continued lower YoY; cost savings maintained .	Improving cost discipline.

Management Commentary

“Our 53% revenue growth and 61% increase in gross profit are clear indicators that our efforts to enhance Orgad's revenue… and to optimize our SaaS offerings through Naiz Fit are paying off.” – Ronen Luzon, CEO, Q2 press release .
“We remain steadfast…focus on ways to integrate innovative technologies…to offer unique personalization and engagement to both our brand partners and consumers.” – Ronen Luzon, CEO, Q1 press release .
“Our preliminary financial results highlight Orgad’s pivotal role in driving our revenue growth… the certification as a supplier to a leading European retailer underscores our commitment to delivering excellence.” – Ronen Luzon, CEO, FY update press release .

Q&A Highlights

No Q3 2024 earnings call transcript was located in the available document set; therefore, no Q&A highlights or guidance clarifications could be extracted for the quarter (we searched for earnings-call-transcript for MYSZ within Nov 1, 2024 to Jan 31, 2025 and found none).

Estimates Context

We attempted to pull Wall Street consensus (S&P Global) for Q3 2024 EPS and Revenue, but estimates were unavailable at the time due to SPGI request limits; we cannot determine beat/miss versus consensus for Q3 [GetEstimates errors].
Given the absence of published consensus in our tools, investors should treat estimate comparison as indeterminate for Q3 2024 at this time.

Key Takeaways for Investors

Narrative reset in Q3: inventory/seasonality and shipping/COGS drove a softer quarter; the $0.631M goodwill impairment in SaaS signals recalibrated growth assumptions and is a near-term negative catalyst .
Liquidity/going concern remains the core risk; capital raising or strategic financing is likely necessary to sustain operations over the next 12 months .
Strategic product KPIs (Naiz Fit) demonstrate strong customer impact; monetization and scaling these solutions remain the medium-term value driver .
Geographic diversification into Europe via supplier certification supports Orgad’s longer-term growth vector, reducing US concentration risk .
Operating efficiency initiatives (lower R&D and G&A) helped nine-month losses versus 2023; sustaining discipline is critical to approaching cash flow positivity .
With preliminary FY24 revenue ~$8.5M and FY25 target ~$15M, near-term execution on inventory normalization, cost controls, and financing will determine whether this growth trajectory is achievable .
Absent consensus data, traders should watch for subsequent disclosures (8-Ks/press releases) for updated guidance and financing milestones as catalysts.

Appendix: Source Documents Read

Q3 2024 Form 10-Q (full document) –.
Q2 2024 press release (full) –.
Q1 2024 press release (full) –.
Q2 2024 Form 10-Q (key sections) –.
Q1 2024 Form 10-Q (key sections) –.
December 27, 2024 FY update press release and related 8-K including Item 2.02 (full) – –.

My Size, Inc. (MYSZ)·Q3 2024 Earnings Summary