MySize Issues Shareholder Update: Revised 2023 Revenue Guidance of ~ $8 Million
AIRPORT CITY, Israel , Oct. 30, 2023 /PRNewswire/ -- MySize, Inc. (NASDAQ: MYSZ) (TASE: MYSZ.TA) ("MySize" or the "Company"), an omnichannel e-commerce platform and provider of AI-driven measurement solutions to drive revenue growth and reduce costs for its business clients, today issued a shareholder update from its Founder and CEO, Ronen Luzon.
- Dear MySize Partners and Shareholders,
Before providing a business update on MySize, first, I must address the unprecedented October 7 attack on Israel by the terrorist group Hamas. - For the 12 months ended December 31, 2022, MySize reported revenue of $4,459,000 compared to $131,000 for fiscal 2021.
- $4,132,000 of our total 2022 revenue came from Orgad's operations commencing on February 7, 2022, the date Orgad's acquisition closed.
- While we reported revenues of approximately $2 million during the first half of 2023 and previous revenue guidance of between $9 to $10 million for 2023, based on the current revenue run rate and upcoming holiday shopping season, we expect approximately $8 million in revenues for the 12 months ended December 31, 2023 bringing us closer to cash-flow positive.