My Size, Inc. (MYSZ) - 10-K Filing Summary
Business Context and Reporting Period
Company: My Size, Inc.
Filing Type: Form 10-K (Annual Report)
Period Ended: December 31, 2025
Business Overview: My Size is a fashion technology company operating an integrated portfolio addressing size/fit accuracy, excess inventory management, circular economy solutions, and international distribution. Key subsidiaries include Naiz Fit (AI size/fit SaaS), Orgad (Amazon third-party retailer), Percentil (recommerce platform), and Ten Peacks (Israel distribution).
Key Financial Metrics (Year Ended Dec 31, 2025)
| Metric | 2025 (in thousands) | 2024 (in thousands) |
|---|---|---|
| Revenues | $9,362 | $8,257 |
| Gross Profit | $3,000 | $3,323 |
| Operating Loss | $(5,740) | $(3,944) |
| Net Loss | $(5,852) | $(3,995) |
| Cash & Equivalents | $2,303 | $4,880 |
| Accumulated Deficit | $(69,728) | $(63,876) |
| Goodwill Impairment | $(144) | $(631) |
Liquidity: Cash and cash equivalents decreased to $2.3 million from $4.9 million. The company has an accumulated deficit of approximately $69.7 million.
Material Changes vs. Prior Period
- Revenue Growth: Revenue increased 13% to $9.4 million, driven by Orgad sales and the inclusion of new acquisitions (Percentil, ShoeSize.Me, Ten Peacks).
- Expense Increases: General and Administrative expenses rose 42% to $4.8 million, and Cost of Revenues increased 29% to $6.4 million, primarily due to the consolidation of new business units.
- Acquisitions:
- Percentil (May 2025): Acquired a production unit of Casi Nuevo Kids for approx. $679,000 (cash and assumed liabilities).
- ShoeSize.Me (Sept 2025): Acquired for $150,000 cash and 241,093 shares of common stock (valued at $290,000).
- Ten Peacks (July 2025): Established as a new distribution subsidiary in Israel.
- Goodwill Impairment: Recorded a $144,000 impairment charge related to the Fashion e-commerce platform segment, a decrease from the $631,000 charge in 2024.
Guidance, Outlook, Risks, and Contingencies
Going Concern: The independent auditor has included an explanatory paragraph regarding substantial doubt about the company's ability to continue as a going concern. Management projects existing cash will not be sufficient to fund operations for more than 12 months. Additional capital is required to fund operations and growth.
Capital Raising: The company entered an "At The Market" offering agreement in Jan 2025. As of the filing date, it sold 1.83 million shares for gross proceeds of approx. $3.1 million.
Key Risks:
- Geopolitical: Headquarters and key operations are in Israel. The filing details ongoing conflicts involving Hamas, Hezbollah, and Iran, noting potential disruptions to operations, though current impact is described as immaterial due to operational shifts to Spain and Amazon fulfillment.
- Market Adoption: Reliance on U.S. retailers adopting Naiz Fit technology and Amazon's marketplace policies for Orgad.
- Competition: Intense competition in AI sizing (True Fit, Fit Analytics) and resale markets (Vinted, Wallapop).
Legal Contingency: A lawsuit filed by Shimon Shukron regarding damages from a 2023 warehouse fire. The company estimates potential exposure at approx. $102,000.
Investor Verification Checklist
- Cash Runway: Verify the timeline for raising additional capital given the "substantial doubt" going concern opinion and current cash balance of $2.3 million.
- Acquisition Integration: Assess the revenue contribution and integration progress of the 2025 acquisitions (Percentil, ShoeSize.Me) to ensure they offset increased operating costs.
- Amazon Dependency: Confirm Orgad's continued compliance with Amazon's marketplace policies, as 81% of total revenue comes from Amazon.
- Geopolitical Exposure: Monitor the security situation in Israel and its potential impact on the company's headquarters and key personnel.
- Goodwill Valuation: Review the assumptions used in the discounted cash flow models for the Fashion e-commerce platform segment, given the history of impairment charges.