With a float of just over 2M and very few restricted shares, a little bit of investor interest could send this soaring!
Target #1: $1.24 (+7.83%)
Target #2: $1.49 (+29.57%)
Target #3: $1.79 (+55.65%)
Target #4: $2.59 (+125.22%)
The global artificial intelligence market has surged to unprecedented levels and shows no signs of slowing down. With a valuation of $136.55 billion in 2022 and a projected compound annual growth rate (CAGR) of 37.3% from 2023 to 2030, the market is experiencing a seismic shift driven by continuous research and innovation led by tech giants.
Industries spanning automotive, healthcare, retail, finance, and manufacturing are embracing artificial intelligence as a central element of their operations. Tech giants are driving this transformation through substantial investments in research and development. For instance, Intel Corporation’s acquisition of Cnvrg.io, an Israeli company specializing in machine learning models, underscores the company’s commitment to advancing its artificial intelligence business.
Artificial intelligence has elevated technology to the forefront of organizations, revolutionizing various sectors. From self-driving vehicles reshaping transportation to life-saving medical equipment, AI has become an integral part of almost every device and software program. Its ability to analyze massive amounts of data, make complex decisions, and learn from patterns has made AI indispensable.
As the global artificial intelligence market expands, it brings forth opportunities for innovation, efficiency, and growth. Industries are leveraging AI to optimize processes, enhance customer experiences, and achieve unparalleled levels of productivity. Within this rapidly evolving landscape, one company to keep an eye on is My Size, Inc. (Nasdaq: MYSZ).
My Size, Inc. (Nasdaq: MYSZ) is an emerging player in the AI-driven measurement solutions market, offering innovative technologies to drive revenue growth and reduce costs for businesses. As industries increasingly adopt AI solutions, My Size’s offerings, such as MySizeID and Naiz Fit, hold great potential to disrupt traditional measurement processes in sectors like apparel, e-commerce, and logistics.
With a focus on delivering accurate and efficient measurement solutions, My Size, Inc. (Nasdaq: MYSZ) could be well-positioned to capitalize on the growth of the global artificial intelligence market.
As the global AI market continues its rapid growth trajectory, the opportunities for companies like My Size, Inc. (Nasdaq: MYSZ) to make an impact are significant. By leveraging AI technologies to address measurement challenges and enhance business processes, My Size is poised to carve out a notable presence in this dynamic industry landscape.
Industry observers should keep a close watch on My Size, Inc. (Nasdaq: MYSZ) as it navigates the exciting possibilities offered by the expanding artificial intelligence market.
The global artificial intelligence (AI) market is poised for exponential growth, and My Size, Inc. (Nasdaq: MYSZ) is making significant strides in this dynamic landscape.
My Size, Inc. (Nasdaq: MYSZ) is an emerging AI-driven measurement solutions company set to disrupt the $38 billion apparel returns market. With a strong focus on sustainability, their solutions aim to reduce size-related returns, aligning with the growing emphasis on eco-conscious practices.
Founded in 2014 by Ronen Luzon, My Size was born out of a frustration with the challenges of online shopping, particularly the uncertainty around sizing and the hassle of returning ill-fitting items. Recognizing the impact of these issues on both consumers and retailers, Luzon set out to create a solution that would standardize sizing and enhance the online shopping experience.
My Size developed a range of measurement apps, including MySizeID, BoxSize, SizeUP, First Look Smart Mirror, and Smart Catalogue, all based on the company’s patented algorithms and software development kits (SDK). These innovative measurement solutions have revolutionized the way consumers find the right fit across various size charts, driving buyer satisfaction and reducing costs for online retailers.
Let’s take a closer look at My Size, Inc. (Nasdaq: MYSZ)’s AI-driven measurement solutions:
By leveraging My Size, Inc. (Nasdaq: MYSZ)’s MySize ID, retailers can match shoppers’ personal measurements with their brand’s size chart, resulting in significantly fewer returns and increased customer satisfaction. The platform comprises three essential elements: the widget, app, and My Dash.
The widget is seamlessly integrated into the retailer’s e-commerce platform, displaying size recommendations for individual shoppers on a per-item basis. These recommendations are based on data input into My Dash, the user-friendly size chart editor. Retailers can create a unique size profile for their customers using the MySize ID app or the online sizing wizard available on the My Size ID website.
My Dash plays a pivotal role by generating a comprehensive size chart for each apparel item and integrating it directly with the retailer’s product lifecycle management (PLM) and inventory database. Furthermore, MySize ID offers analytics with aggregated customer data, providing in-depth insights into consumer behavior. These insights enable retailers to further enhance personalization and tailor their offerings to meet customer preferences.
The MySize ID app or software development kit (SDK) empowers shoppers to create personalized size profiles by recording their body measurements with their smartphones. This convenience extends beyond online shopping and can be implemented in brick-and-mortar stores. Shoppers can easily scan barcodes, receive size recommendations, and make purchases directly through the app, bypassing fitting rooms and registers.
Logistic companies often face the challenge of accurately measuring packages to ensure efficient shipping and storage. With Box Size, an innovative measuring tool, logistics professionals can streamline their operations and optimize package measurements.
To get started with Box Size, simply log into the Box Size app using your email address and organization code. Once logged in, you can easily scan the package’s barcode or add it manually. If the barcode is unavailable, you can leave the field blank and take all three measurements in one click.
Using the app, place your device on the surface next to the package, towards the bottom right corner, and tap “start.” Wait for the beep, then move the device to the top of the package. After another beep, move the device to the left side of the package. Finally, move the device to the upper left end of the package and wait for the last beep. Tap “save” to store all three measurements.
Box Size allows you to measure each dimension separately as well. To measure the package’s height, tap on the “height” option and place your device near the package’s surface. Tap “start” and wait for the beep, then gently lift your device and place it on top of the package. Remember to tap “save measurement” before continuing.
If needed, you can redo measurements by tapping “measure again.” Box Size also offers flexibility in measurement methods. You can change the height measurement method in the app’s settings, allowing you to move the device from a top corner to the same side’s bottom corner.
Box Size provides additional features to enhance measurement accuracy. You can customize measurement units and add the package’s weight, comments, pictures, and select the package type. Once you have finalized the measurements, tap “confirm and send file” to save the package’s information and transmit it to the Box Size dashboard or your server.
By using Box Size, logistic companies can ensure precise package measurements, leading to improved efficiency, reduced errors, and enhanced logistics operations. With its user-friendly interface and comprehensive functionality, Box Size is the perfect solution for accurate package measuring in the logistics industry.
The SizeUp App is based on technology developed by MySize Inc. These revolutionary patent-pending algorithms that utilize Smartphone sensors to accurately measure anything from everyday objects to body measurements.
Introducing First Look Smart Mirror, an interactive point-of-sale (POS) display that revolutionizes the in-store fashion shopping experience. With My Size ID integration, customers can preview items on a virtual avatar, ensuring accurate personalized sizing and fit. Real-time stock availability and upselling recommendations enhance the shopping journey, while NFC technology enables seamless checkout. This innovative solution reduces returns, boosts sales, and increases customer satisfaction.
First Look Smart Mirror by My Size transforms the in-store fashion shopping experience, delivering personalized sizing, real-time stock availability, upselling, and effortless checkout. Retailers can enjoy reduced returns, increased sales, and improved customer satisfaction. Elevate your brick-and-mortar store with this innovative solution and stay ahead in the ever-evolving retail landscape.
As a testament to its growth and potential, My Size experienced significant investments and went public on NASDAQ in 2016. The company’s commitment to continuous innovation and expansion led to partnerships with renowned fashion brands, including Diesel, Natura, and Rotholz, among others, which adopted My Size’s AI-driven sizing solutions in 2022.
Beyond its achievements, My Size is gaining recognition for its positive impact on sustainability. By reducing size-related returns, the company’s solutions align with the growing emphasis on environmentally conscious practices, making it an appealing choice for socially responsible stakeholders.
Looking ahead, the global AI market is set to witness remarkable growth across industry verticals such as automotive, healthcare, retail, finance, and manufacturing. Tech giants like Google, Microsoft, IBM, Amazon, and Apple are investing heavily in AI research and development, further fueling technological advancements in these sectors. With a projected CAGR of 37.3% from 2023 to 2030, the global AI market is on track to reach a value of $1,591.03 billion by 2030.
Favorable government initiatives are also shaping the industry landscape, as countries recognize the transformative potential of AI. For example, the Government of India has increased spending for its Digital India initiative to boost AI, IoT, big data, cybersecurity, machine learning, and robotics. Similarly, the establishment of subcommittees on machine learning and AI within the federal government in the United States underscores the growing traction and support for AI-related advancements.
As the AI market continues to evolve, My Size, Inc. stands out as a company to watch. Its AI-driven measurement solutions have the potential to redefine the online shopping experience, enhance customer satisfaction, and drive revenue growth for businesses. With its innovative approach and commitment to technological advancement, My Size is poised to make a lasting impact in the ever-expanding AI landscape.
Untapped Opportunity: My Size, Inc. (Nasdaq: MYSZ) Entering the $7 Billion Pet Apparel Market
MySize, Inc. (Nasdaq: MYSZ) is set to make a groundbreaking move into the pet apparel market with the launch of MySizeID, an AI-driven sizing solution designed specifically for dogs and cats. This innovative solution aims to address the challenges faced by pet owners in finding the right fit and maximizing apparel comfort for their furry companions.
The pet apparel market is experiencing remarkable growth and is projected to reach an estimated value of $7 billion by 2028. Factors such as the increasing number of pet owners worldwide, the trend of pet humanization, the demand for sustainable pet clothing, and the entry of high-profile human fashion brands into the pet apparel sector are driving this expansion.
Notable fashion brands like Urban Outfitters, H&M, Moschino, Moncler, and Ralph Lauren have started offering pet apparel as an extension of their brand offerings.
MySize, Inc. (Nasdaq: MYSZ), known for its digital sizing solutions like MySizeID and Naiz Fit, is capitalizing on its position as a leading provider of accurate sizing recommendations for consumers. By extending its technology to the pet apparel market, MySize aims to revolutionize the way pet owners choose the right size for their furry friends. With a mobile phone-based sizing solution, MySizeID aims to simplify the process for pet parents and reduce the likelihood of size-related returns when purchasing pet apparel online.
In addition to providing convenience and accuracy in size recommendations, MySize, Inc. (Nasdaq: MYSZ) also aligns with the growing emphasis on sustainability in the fashion industry. By reducing size-related returns, the solution helps mitigate the environmental impact associated with the pet apparel market.
Ronen Luzon, CEO and Founder of MySize, Inc. (Nasdaq: MYSZ), expressed excitement about the company’s foray into the pet apparel market. He highlighted the need for an easy-to-use sizing solution given the wide variety of dog breeds, sizes, and proportions. Luzon believes that MySizeID will be the first pet apparel sizing solution on the market, making it a pioneering offering in the industry.
MySize’s expansion into the pet apparel market aligns with its overarching mission to drive revenue growth and reduce costs for its business clients. The company’s portfolio includes an omnichannel e-commerce platform, AI-driven measurement solutions, and the recently launched FirstLook Smart Mirror, which enhances the in-store shopping experience.
With its sophisticated measurement technology and commitment to innovation, MySize continues to make strides in various industries, including apparel, e-commerce, DIY, shipping, and parcel delivery. The company’s unique algorithms enable accurate and efficient measurements, contributing to improved customer experiences and operational efficiencies across diverse sectors.
MySize, Inc (NASDAQ: MYSZ) Reports Full-Year Financial Results, Consolidated Revenue Growth of 3,304%
MySize, Inc. (Nasdaq: MYSZ) has released its financial and operational results for the twelve months ended December 31, 2022. The company’s remarkable performance demonstrates significant revenue growth, successful acquisitions, and strategic product launches.
MySize achieved consolidated revenue growth of 3,304% for the year, reaching $4,459,000 compared to $131,000 in the previous year. This substantial increase can be primarily attributed to the revenue generated following the acquisition of Orgad. Furthermore, Software-as-a-Service (SaaS) revenues from MySizeID and Naiz Fit experienced a significant boost of 150%, amounting to $327,000.
Gross profit witnessed an impressive increase of 384% to $634,000, reflecting the success of the company’s operations. The operating loss decreased by 23% to $8,110,000, highlighting the positive impact of strategic decisions. Additionally, the net loss decreased by 21% to $8,310,000, showcasing the company’s commitment to improving its financial performance.
MySize’s success in 2022 was not solely driven by financial achievements. The company made strategic moves to strengthen its position in the market, including the acquisition of Naiz Fit, a Spanish measurement solution provider. This acquisition allowed MySize to expand its tech solution offerings and establish itself as a leading player in the fashion industry. The company also acquired Orgad, an omnichannel e-commerce platform, which significantly contributed to revenue and gross profit growth.
The introduction of innovative products further solidified MySize’s position in the market. The FirstLook Smart Mirror, an interactive touch display in physical stores, revolutionized the shopping experience by providing enhanced online features and contactless checkout. Moreover, Naiz Fit’s Smart Catalogue, a new SaaS-based solution, enabled fashion designers to create patterns that optimize fit, resulting in reduced unsold items, improved economics for brands and retailers, and a reduced environmental footprint.
MySize’s CEO and Founder, Ronen Luzon, expressed satisfaction with the company’s growth plans and achieving revenues of $4.5 million in line with their previous guidance. Luzon highlighted that the fourth-quarter revenues of approximately $2.5 million indicate a strong trajectory toward doubling revenues in 2023. The company expects further improvement in gross profits as it continues to leverage the potential of Naiz Fit and its sizing solutions.
Luzon emphasized that a growing number of top fashion brands have embraced MySizeID and Naiz Fit’s sizing platforms, resulting in increased average basket value, higher conversion rates, and reduced returns. Notably, besides economic and customer satisfaction benefits, environmental sustainability has become a key driver for brands adopting MySize’s solutions.
With a promising outlook for 2023 and beyond, MySize, Inc. (Nasdaq: MYSZ) remains a company to watch as it continues to drive revenue growth, reduce costs for business clients, and revolutionize the e-commerce industry through AI-driven measurement solutions.
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