My Size, Inc. (MYSZ) - Q3 2025 10-Q Summary
Business Context and Reporting Period
This report covers the quarterly period ended September 30, 2025. My Size, Inc. is an omnichannel e-commerce platform and provider of AI-driven SaaS measurement solutions. The company operates through four segments: Fashion and equipment e-commerce (Orgad), SaaS Solutions (Naiz Fit, ShoeSizeMe), Resale Platform (New Percentil), and Wholesaling (Ten Peacks). The company is classified as a smaller reporting company and a non-accelerated filer.
Key Financial Metrics
| Metric | Q3 2025 (3 Months) | Q3 2024 (3 Months) | YTD 2025 (9 Months) | YTD 2024 (9 Months) |
|---|---|---|---|---|
| Revenue | $2.57M | $1.84M | $6.06M | $6.80M |
| Gross Profit | $1.01M | $0.79M | $2.55M | $2.97M |
| Operating Loss | $(1.36M) | $(1.31M) | $(3.00M) | $(3.25M) |
| Net Loss | $(1.34M) | $(1.30M) | $(2.85M) | $(3.28M) |
| Cash & Equivalents | $4.49M | $2.37M | $4.49M (Sep 30) | $4.88M (Dec 31) |
| Total Debt | $0.93M | $0.25M | $0.93M | $0.25M |
| Loss Per Share (Diluted) | $(0.40) | $(1.25) | $(1.00) | $(4.21) |
Material Changes vs. Prior Period
- Revenue Growth (Q3): Revenue increased 40% year-over-year in Q3 2025, driven by the inclusion of New Percentil (acquired May 2025) and ShoeSizeMe (acquired September 2025) in consolidated reporting.
- Revenue Decline (YTD): Nine-month revenue decreased 11% compared to 2024, primarily due to a decline in sales from the Orgad segment.
- Acquisitions:
- New Percentil: Acquired May 9, 2025, for approx. $679k (cash and assumed liabilities). Added $515k in revenue YTD.
- ShoeSizeMe: Acquired September 8, 2025, for $150k cash and 241,093 shares (valued at $338k). Added $3k in revenue for the quarter.
- Goodwill Impairment: Recorded a $144k non-deductible impairment charge in the Fashion and equipment e-commerce segment due to sustained share price decreases and lower forecasted results. This compares to a $631k impairment in the same period in 2024.
- Capital Raise: Sold 1,557,727 shares under an At-The-Market (ATM) offering, generating $2.85M in net proceeds YTD.
Outlook, Risks, and Management Commentary
- Going Concern: Management states there is substantial doubt about the company's ability to continue as a going concern. Existing cash ($4.49M) is not sufficient to fund operations for more than 12 months. Additional financing is required.
- Geopolitical Risks: Operations are headquartered in Israel. While a ceasefire with Hamas was reached in October 2025 and a ceasefire with Iran in June 2025, the region remains volatile. The company notes that most operations are now in Spain, mitigating some risk, but conflicts could still impact supply chains and capital raising.
- Legal Contingency: A lawsuit filed by Shimon Shukron regarding a 2023 warehouse fire seeks approx. $510k. Management estimates the exposure at approx. $53k.
- Strategic Focus: The company is focusing on commercializing Naiz Fit technology to reduce returns and increase conversion rates for fashion e-commerce.
Investor Verification Checklist
- Liquidity Runway: Verify the timeline and terms of any upcoming capital raises required to address the "substantial doubt" regarding going concern status.
- Acquisition Integration: Monitor the revenue contribution and integration progress of New Percentil and ShoeSizeMe to ensure they offset the decline in the Orgad segment.
- Goodwill Valuation: Review future impairment testing assumptions, particularly for the Fashion and equipment segment, given the recent $144k charge.
- Geopolitical Exposure: Assess the impact of ongoing Middle East tensions on the company's Israeli headquarters and its ability to retain key talent or access capital markets.
- Dilution: Track the utilization of the remaining capacity under the $4.1M ATM offering agreement.