My Size, Inc. (NASDAQ:MYSZ), a company specializing in prepackaged software solutions with a market capitalization of $3.37 million and recent revenue growth of 44%, announced on Thursday that Chief Financial Officer Or Kles has decided to step down from his position, effective March 31, 2025.
Kles has confirmed that his departure is not due to any disagreements with the company regarding its operations, policies, or practices. To ensure a smooth transition, he will continue his duties until the end of March. My Size, which maintains a healthy current ratio of 2.49 and holds more cash than debt on its balance sheet, has already begun the process of searching for a new CFO to fill the impending vacancy. According to InvestingPro, the company shows strong financial liquidity despite rapid cash utilization.
The transition in the company's financial leadership is being handled with due diligence to maintain operational stability. With the next earnings report scheduled for March 18, 2025, and the stock showing strong returns over the past three months despite historical volatility, investors are closely monitoring developments.
In other recent news, My Size Inc. reported a 23% increase in revenue and is projecting a target of $15M in 2025. The company has raised $3 million from warrant exercises, which will be used to enhance operational efficiencies, inventory growth, and e-commerce reach, among other strategic initiatives. Analyst firm H.C. Wainwright has adjusted its price target for My Size's shares from $5.00 to $3.00, while maintaining a Buy rating.
In addition, My Size's AI-driven sizing solution, Naiz Fit, continues to deliver over 42 million personalized size recommendations across numerous countries and support 1.5 million virtual try-ons. The company's recent annual meeting saw shareholders vote in favor of all items on the agenda, including the election of a Class III director and the ratification of the company's independent public accountant for the upcoming fiscal year.
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