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My Size, Inc. (MYSZ)·Q4 2024 Earnings Summary

Executive Summary

  • FY 2024 closed with revenue up 18% to $8.26M and net loss reduced 37% to $3.99M; Q4 revenue was approximately $1.46M, reflecting sequential deceleration vs Q3 as Orgad faced inventory constraints and seasonality .* Values retrieved from S&P Global.
  • Results vs consensus: Q4 Primary EPS was a significant beat at ($0.18) vs ($0.65) estimate; revenue missed at $1.46M vs $2.50M estimate. Bold: EPS beat, Revenue miss.* Values retrieved from S&P Global.
  • Liquidity strengthened with $3.0M gross proceeds from warrant exercises in Dec-2024, supporting Orgad expansion and R&D; FY-end cash rose to $4.88M (up 123% YoY) .
  • 2025 outlook: management targeted ~$15M FY 2025 revenue and shifted Orgad expansion toward Europe after certification with a major retailer; FY 2024 preliminary revenue guide ($8.5M) was later reported at $8.26M .
  • Stock narrative catalysts: EPS beat alongside top-line miss, improved cash runway, and Europe expansion should focus investor attention on execution in Orgad and uptake of Naiz Fit SaaS modules .

What Went Well and What Went Wrong

What Went Well

  • Strong year: Revenue +18% YoY to $8.26M; cash more than doubled to $4.88M; equity +46% to $6.91M .
  • SaaS traction: Over 100 fashion brands deployed Naiz Fit modules; management emphasized “positioned for continued growth through SaaS expansion and e-commerce excellence” . “We delivered 18% revenue growth and more than doubled our cash reserves…” – Ronen Luzon, CEO .
  • Q4 EPS beat vs consensus: Primary EPS ($0.18) vs ($0.65) estimate; one covering estimate.* Values retrieved from S&P Global.

What Went Wrong

  • Q4 revenue miss vs consensus: $1.46M vs $2.50M; one covering estimate.* Values retrieved from S&P Global.
  • Q3 context flagged operational headwinds: gross margin pressure and a $631k goodwill impairment in SaaS Solutions; Q3 operating loss widened YoY, and management disclosed going-concern risk without new capital .
  • Network/legal overhangs: ongoing Israel conflict risks disclosed as immaterial so far but potentially escalating; legal proceedings (North Empire settlement loss ~$40k; Shukron fire-related claim) add uncertainty .

Financial Results

Quarterly performance: sequential and YoY comparison

MetricQ2 2024Q3 2024Q4 2024
Revenue ($USD Millions)$1.979 $1.839 $1.455*
Diluted EPS - Continuing Ops ($USD)$(1.28)*$(1.25) $(0.55)*
Gross Margin (%)49.7%*43.0% −20.0%*
EBIT Margin (%)−44.3%*−36.7%*−91.6%*
Net Income Margin (%)−48.7%*−70.7% −49.1%*

Notes: Q2 revenue and Q3 revenue/NI margin from 8-K/10-Q filings; other values and Q4 figures marked * are Values retrieved from S&P Global.

Year-over-year Q4 comparison

MetricQ4 2023Q4 2024
Revenue ($USD Millions)$2.830*$1.455*
Diluted EPS - Continuing Ops ($USD)$(3.20)*$(0.55)*
Gross Margin (%)67.35%*−20.0%*
EBIT Margin (%)−9.75%*−91.6%*
Net Income Margin (%)−46.04%*−49.14%*

Notes: All values marked * are Values retrieved from S&P Global.

Segment breakdown (nearest available quarter – Q3 2024)

SegmentQ3 2023 Revenue ($USD Millions)Q3 2024 Revenue ($USD Millions)
Fashion & equipment e-commerce (Orgad)$1.994 $1.667
SaaS Solutions (MySizeID/Naiz Fit)$0.162 $0.172
Total$2.156 $1.839

KPIs (SaaS/Platform highlights)

KPI2024 Value
Personalized size recommendations42M+ recommendations across 18+ countries
Virtual try-ons1.5M
Conversion rate uplift5.7x
Return-rate reduction14%
Average order value (AOV)+27%
Consumer engagement+15%

Guidance Changes

MetricPeriodPrevious GuidanceCurrent GuidanceChange
RevenueFY 2024~$8.5M preliminary (Dec-2024) Reported $8.26M (Mar-2025) Lowered vs preliminary
RevenueFY 2025—~$15M target (Dec-2024) New/Initiated
Liquidity actionsN/A—$3.0M warrant exercise proceeds (Dec-2024) New capital raised

Earnings Call Themes & Trends

No Q4 2024 earnings call transcript was available for MYSZ; themes reflect Q2/Q3 filings and Q4 press releases.

TopicPrevious Mentions (Q-2 and Q-1)Current Period (Q4 2024)Trend
AI/technology initiativesCEO highlighted AI-driven retail solutions; focus on Naiz Fit SaaS and operational efficiency .Continued emphasis on AI, with KPI improvements across conversion, returns, AOV, engagement .Strengthening AI narrative; KPI validation .
Supply chain/operationsShift to FBA (Amazon) aiding efficiency and risk mitigation; inventory and shipping cost dynamics .Orgad expansion toward Europe; certification with major European retailer .Expansion and diversification .
Macro/geopoliticalIsrael security situation disclosed as immaterial impact so far; risks persist .Continued disclosure of regional risks; no direct Q4 operational impact noted .Risk monitored; immaterial so far .
Product performanceStrong SaaS adoption; Q2 gross profit up 61% YoY on revenue growth .Naiz Fit KPIs: 42M recs, 1.5M try-ons, returns −14%, AOV +27%, engagement +15% .Improving usage and outcomes .
Legal/regulatoryNorth Empire case nearing settlement; new Shukron claim linked to 2023 fire .Settlement loss recognized (~$40k) .Legal overhang easing; new claim pending .
R&D/cost disciplineR&D down due to headcount reduction; operating loss narrowing YTD .Focused investment with $3.0M proceeds to support R&D/product development .Targeted spend; balance growth/liquidity .

Management Commentary

  • “We delivered 18% revenue growth and more than doubled our cash reserves… positioned for continued growth through SaaS expansion and e-commerce excellence.” – Ronen Luzon, CEO .
  • “Our 53% revenue growth and 61% increase in gross profit are clear indicators… reduction in operating and net losses demonstrates commitment to profitability.” – Q2 CEO remarks .
  • “Strong revenue growth… $15M in 2025; certification with a major European retailer expands Orgad’s reach.” – Annual update .
  • “Shift to FBA reduced exposure to inventory risk and contributed to operating efficiencies.” – MD&A .

Q&A Highlights

  • No formal Q4 2024 earnings call transcript available; management disclosures were via 8-K/press releases and the 10-Q .
  • Guidance clarifications: FY 2024 preliminary revenue ($8.5M) updated to reported $8.26M; FY 2025 target ~$15M reiterated in Dec-2024 communications .
  • Liquidity/risk: $3.0M warrants exercised; going concern risk disclosed alongside plans to raise capital and reduce expenses .

Estimates Context

MetricConsensus (Q4 2024)Actual (Q4 2024)Surprise
Primary EPS ($USD)$(0.65)*$(0.18)*Beat
Revenue ($USD Millions)$2.50*$1.455*Miss
# of EPS Estimates1*——
# of Revenue Estimates1*——

Note: Values marked * are Values retrieved from S&P Global.

Commentary: Despite the top-line shortfall vs consensus, EPS materially outperformed, implying cost discipline and/or mix effects. With only one covering estimate, near-term consensus may recalibrate lower on revenue while adjusting EPS upward given execution signals.* Values retrieved from S&P Global.

Key Takeaways for Investors

  • Mixed print: EPS beat and revenue miss versus consensus; expect estimate dispersion to remain high given limited coverage and evolving Orgad mix.* Values retrieved from S&P Global.
  • Liquidity runway improved with $3.0M warrant proceeds and FY cash at $4.88M; watch capital raising cadence given going-concern disclosure .
  • Execution pivot to Europe (Orgad certification) is a key 2025 driver; monitor revenue conversion to the ~$15M target and inventory positioning .
  • SaaS KPIs are compelling (conversion, returns, AOV); increased brand adoption supports medium-term margin uplift if scaled .
  • Q3 impairment signals prudence in SaaS valuation assumptions; continued focus on cost controls and mix should support EPS normalization .
  • Macro/geopolitical risks disclosed as immaterial to date but remain a monitoring item for operational continuity and capital access .
  • Near-term trading: expect volatility around updates on Europe expansion milestones, any additional financings, and cadence of press releases guiding revenue trajectory .

Footnote: All values marked with * are Values retrieved from S&P Global.