- My Size, Inc MYSZ reported first-quarter FY22 revenue growth of 1400% year-on-year to $0.4 million, primarily attributable to closing the acquisition of Orgad on February 7.
- MySizeID revenue increased 63% Y/Y to $0.04 million.
- Gross profit rose 467% Y/Y to $0.15 million.
- The gross margin deteriorated from 100% to 37.9% due to the acquisition.
- Operating loss widened to $(2.1) million.
- My Size held $7.8 million in cash and equivalents.
- CEO Ronen Luzon said, "MySizeID has continued to gain traction and now reaches 1,000+ retail customers with additional reach throughout the world, including the U.S. and Turkey."
- My Size reiterated its 2022 guidance of at least $5 million in revenue based on existing business.
- Price Action: MYSZ shares traded higher by 50.7% at $0.30 in the premarket on the last check Friday.
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