Trending

(NASDAQ:MYSZ) MY SIZE INC. shares are moving higher in pre-market as the stock is up more than 50% on financial results.

MySize Reports First Quarter Financial Results Highlighted by Record 1400% Growth to $404,000 Revenue in Q1 2022

PR Newswire   “Press Releases US – English”

Cash Balance of $7.8 Million at Quarter End

AIRPORT CITY, Israel, May 13, 2022 /PRNewswire/ — MySize, Inc. (NASDAQ: MYSZ) (TASE: MYSZ.TA) (“MySize” or the “Company”), an omnichannel e-commerce platform and providerofAI-driven measurement solutions to drive revenue growth and reduce costs for its business clients, today announced financial and operational results for the first quarter ended March 31, 2022.

Key Financial Highlights for the First Quarter Ended March 31, 2022 Compared to Prior Year Period

  • Revenue increased 1400% to $404,000, primarily attributable to closing the acquisition of Orgad on February 7, 2022
  • MySizeID revenue increased 63% to $44,000
  • Gross profit increased 467% to $153,000
  • Cash balance at March 31, 2022 of $7.8 million
  • Inventory balance at March 31, 2022 of $1.1 million
  • Operating loss increased 39% to $2,105,000
  • Net loss increased 50% to $2,188,000

https://www.prnewswire.com/news-releases/mysize-reports-first-quarter-financial-results-highlighted-by-record-1400-growth-to-404-000-revenue-in-q1-2022–301546888.html

RelatedNews

Signup today for free and be the first to get notified of breaking news.

This site is protected by reCAPTCHA and the Google Privacy Policy and Terms of Service apply.

SIGN UP FOR OUR NEWSLETTER

Sign up for Breaking Alerts, our newsletter putting timely and updated stock and crypto markets news into your hands.

Add New Playlist