Executive Summary

Q3 2025 delivered sequential acceleration: revenue rose to $2.6M (+26% q/q), gross profit reached ~$1.0M (+27% y/y), and net loss narrowed to $2.8M y/y, aided by Percentil’s scale-up and Naiz Fit’s SaaS momentum .
Operating loss improved y/y (to ~$3.0M), but worsened q/q versus Q2’s ~$0.6M operating loss as the company invested in integration and AI; management emphasized continued discipline while reinvesting for platform growth .
Guidance tone: management expects “ongoing sequential growth in Q4” supported by Percentil in Europe, Naiz Fit SaaS expansion, and ShoeSize.Me integration; no numeric guidance provided .
Near-term catalysts: operational scale at Percentil across Spain/Italy/Germany/France, Naiz Fit >25% YTD SaaS growth, and unified fit-tech stack (Naiz Fit + ShoeSize.Me + MySizeID) creating cross-sell and margin opportunities .

What Went Well and What Went Wrong

What Went Well
- Sequential revenue and margin momentum: $2.6M revenue (+26% q/q) and ~$1.0M gross profit (+27% y/y) underscored improving mix and execution .
- SaaS traction: Naiz Fit posted >25% YTD SaaS revenue growth, driven by new deployments and renewals, validating recurring revenue expansion .
- Ecosystem integration: unifying ShoeSize.Me with Naiz Fit and MySizeID advances a “sizing intelligence” engine to support apparel and footwear clients globally .
What Went Wrong
- Operating loss higher q/q: Q3 operating loss of ~$3.0M versus Q2’s ~$0.586M, reflecting reinvestment and integration costs despite y/y improvement .
- Limited disclosure depth: lack of detailed segment revenue/margin breakouts and no numeric guidance limits precision on trajectory by business unit .
- Coverage/estimates sparse: S&P Global showed no consensus for Q3; this hampers beat/miss framing versus The Street and can increase volatility [GetEstimates].

Financial Results

Metric	Q3 2024	Q1 2025	Q2 2025	Q3 2025
Revenue ($USD Millions)	$1.839*	$1.479*	$2.0	$2.6
Gross Profit ($USD Millions)	$0.791*	$0.420*	$1.1	$1.0
Gross Profit Margin (%)	43.0%*	28.4%*	56.0%*	39.2%*
Operating Income ($USD Millions)	-$0.675*	-$1.060*	-$0.586	-$3.0
Net Income ($USD Millions)	-$3.4	-$1.060*	-$0.450*	-$2.8
Diluted EPS ($)	-$1.249*	-$0.506*	-$0.146*	-$0.403*
Cash & Equivalents ($USD Millions)	$2.371*	$3.695*	$4.28	$4.5

Notes:

Q3 2025 revenue and gross profit per company release/8-K; prior quarter/year values mix of company releases and S&P Global where company did not disclose exact figures.
Values marked with * retrieved from S&P Global.

Segment/KPIs (available disclosures)

KPI	Q2 2025	Q3 2025	Comment
Percentil revenue contribution ($USD)	~$0.18M (since May acquisition)	N/A	Integration milestones ahead of schedule
Naiz Fit SaaS growth (YTD)	N/A	>25% YTD growth	Driven by deployments and renewals
Percentil geographies	Spain/Italy/Germany/France	Spain/Italy/Germany/France	Scale and wholesale partners expanding
Orgad operating model	FBA transition improved logistics	Continued FBA benefits	Margin and delivery efficiency support

Guidance Changes

Metric	Period	Previous Guidance	Current Guidance	Change
Total Revenue (company)	Q4 2025	None provided	“Ongoing sequential growth in Q4”	Qualitative (positive)
SaaS (Naiz Fit)	FY 2025 trajectory	None provided	Continued global expansion; >25% YTD growth referenced	Qualitative (positive)
Percentil	H2 2025 trajectory	Expect acceleration in H2 (from Q2 release)	Continued scale across four markets	Qualitative (positive)

No numeric ranges were issued for revenue, margins, OpEx, OI&E, or tax in Q3 materials .

Earnings Call Themes & Trends

Note: A Q3 2025 earnings call transcript was not available as of Nov 20, 2025.

Topic	Previous Mentions (Q1–Q2 2025)	Current Period (Q3 2025)	Trend
AI/technology initiatives	Introduced NaizGPT pilot (conversational LLM for retail analytics) in late July	Continued integration of ShoeSize.Me with Naiz Fit/MySizeID to form unified sizing intelligence	Positive integration momentum
Circular fashion/Percentil	Acquisition and re‑positioning; H2 acceleration expected; ~$0.18M revenue since May	Ongoing scale in Spain/Italy/Germany/France; wholesale + DTC expansion	Scaling up
Regulatory/macro tailwinds	EU Circular Economy/EPR a structural driver for recommerce	Continued emphasis on EU-led circularity tailwinds supporting Percentil	Intact/positive
Operational efficiency	Orgad FBA pivot improved costs/delivery	FBA model continues to support logistics, inventory and margins	Sustained benefits
Capital allocation/tone	“Reinvesting deeply in AI/integration with runway through 2027” (CEO letter)	“Sequential growth, stronger margins, narrowing losses” (CEO)	Confident execution

Management Commentary

“Q3 was a solid execution quarter. We delivered sequential revenue growth, stronger margins, and continued narrowing losses. Our global technology platforms and Percentil’s scaling in Europe are working together as one ecosystem.” – Ronen Luzon, CEO .
“Yes—we are investing. Heavily. In AI. In integration. In automation. But we're doing it with discipline… financial runway through 2027… We’re not just building revenue. We are building a platform.” – CEO letter (mid‑year) .
“Naiz Fit continued its global expansion, with over 25% year‑to‑date SaaS revenue growth, driven by new client deployments and renewals across multiple regions.” .

Q&A Highlights

A public Q3 2025 earnings call transcript was not available across our document corpus and open web checks as of Nov 20, 2025; therefore, no Q&A themes/clarifications to report [ListDocuments earnings-call-transcript: none] .

Estimates Context

S&P Global consensus for Q3 2025 was unavailable for EPS and revenue; SPGI populated actual revenue only (2.572M) and no consensus fields, indicating sparse Street coverage at the time of publication [GetEstimates].
Reported EPS of approximately -$0.40 aligns with S&P Global’s “Diluted EPS - Continuing Operations” (-$0.403*) and third‑party tracking pages, but official EPS was not included in the company’s Q3 press release .
Implication: With limited analyst coverage, estimate revisions are unlikely to be a near‑term stock driver; narrative and execution updates (Percentil scale, Naiz Fit SaaS growth, integration milestones) are more likely to move the shares .

Key Takeaways for Investors

Momentum re-accelerated: Sequential revenue growth (+26% q/q) with y/y gross profit expansion suggests mix and monetization improving into Q4 .
Investment year dynamics: Q3 operating loss widened q/q versus Q2 as the company leaned into integration and AI—consistent with the CEO’s platform-building thesis and disciplined reinvestment stance .
Circular tailwinds: EU policy shifts are a structural driver for Percentil; continued scaling across four markets offers multi‑year growth optionality .
SaaS durability: Naiz Fit >25% YTD SaaS growth underscores the recurring revenue engine; cross‑selling across a unified fit‑tech stack is a medium‑term margin lever .
Liquidity watch: Cash stood at ~$4.5M at quarter‑end; execution toward operating leverage and careful capital deployment remain key to the equity case .
Near‑term stock drivers: Evidence of continued Q4 sequential growth, new SaaS wins/renewals, and concrete revenue contributions from Percentil/Orgad optimizations could catalyze sentiment in a low‑coverage setup .
Risk checks: Absence of numeric guidance and limited Street estimates may increase volatility; monitor operating expense discipline and integration milestones to gauge path toward improved operating losses .

Sources and citations:

Q3 2025 results and commentary: press release and 8‑K (Item 2.02/Ex. 99.1) .
Q2 2025 results press release 8‑K (Ex. 99.1) .
CEO Letter (mid‑year 2025) .
NaizGPT launch (Jul 30, 2025) .
Additional distribution of Q3 results press release: Yahoo/ Nasdaq/others .
Coverage/Transcripts check: No transcript in corpus; CapEdge listing indicates filings but transcript access gated .

S&P Global disclaimer: Values marked with * were retrieved from S&P Global.

My Size, Inc. (MYSZ)·Q3 2025 Earnings Summary