My Size, Inc. (MYSZ), a small-cap player in smart measurement technology, has been on a wild ride over the past decade, marked by explosive revenue growth in recent years overshadowed by relentless share dilution and persistent losses. As everyday investors, we’re often drawn to stories like this—underdog tech firms chasing innovative products like smartphone-based measuring apps and tape measures. But the numbers tell a tale of promise mixed with pitfalls, with revenue surging to $8.3 million in 2024 before analysts predict a sharp drop-off, narrowing losses, and insider buying that could signal a turnaround. The stock’s recent close sits well below unanimous analyst targets, hinting at substantial upside potential if execution improves. Let’s break it down step by step, correlating fundamentals, insider moves, and market signals to see if MYSZ deserves a spot in your watchlist.
Revenue Ramp-Up and the Dilution Dilemma
One of the standout trends here is revenue’s meteoric rise, which exploded from negligible levels pre-2019 to $8.3 million in 2024—a whopping 13,000%+ increase from 2019’s $63,000. This growth accelerated dramatically post-2021, jumping 1,559% from $131,000 to $4.46 million in 2022, then another 57% to $7 million in 2023. Per-employee revenue tells an even punchier story, skyrocketing to $635,000 per head in 2024 with just 13 employees—a metric that’s crucial because it highlights operational leverage in a lean tech outfit, where scaling software and apps doesn’t require massive headcount.
But here’s the correlation that stings: this revenue boom coincided with shares outstanding ballooning from 10,000 in 2019 to 910,800 in 2024 (over 9,000% dilution), and analysts projecting 3.85 million shares in 2025. Revenue per share peaked at $32 in 2022 but cratered 72% to $9.07 by 2024, mirroring the stock’s low and high prices tumbling from 2023’s range of $4.56–$27.60 to 2024’s $1.05–$9.40, and now hovering around recent lows. This dilution—likely from capital raises to fund operations—has eroded shareholder value, pushing PS ratio down from over 100x in 2019 (sky-high due to tiny revenue base) to a more reasonable 0.47x in 2024. It’s a classic small-cap trap: growth funded by flooding the market with shares, which crushes per-share metrics and stock price.
Profitability Progress Amid Persistent Red Ink
Losses have been brutal, but there’s light at the end. Net income improved from a nadir of -$10.5 million in 2021 (down 71% from 2020’s -$6.2 million) to -$4 million in 2024—a 38% narrowing year-over-year. EBT margin followed suit, edging from -0.96% to -0.48%, while gross margins stabilized around 40% after dipping to 14% in 2022. Why care about gross margin? It’s the first line of defense in profitability—showing how much revenue survives cost of goods to fund growth. MYSZ’s climb from 67% in 2019 to near 100% in 2021 (then settling) suggests better product pricing or cost controls in their measurement tech.
Earnings per share reflect the dilution pain but still trended better: from -$142 in 2021 to -$4.39 in 2024 (69% improvement). Free cash flow per share mirrored this, moving from -$139 to -$3.40. Operating cash flow swung positive in projections for 2025–2026 at zero, a big deal for a cash-burning microcap. ROE, a key gauge of equity efficiency, improved from -1.63% to -0.69%, though still negative—important because positive ROE would signal the company is generating returns on investor capital. Overall, metrics correlate positively: as revenue grew and costs stabilized, losses shrank, but dilution capped the upside.
Balance Sheet: Net Cash Cushion with Debt Tamed
MYSZ’s balance sheet offers some reassurance amid the chaos. Shareholders’ equity climbed to $6.9 million in 2024 (46% up from 2023’s $4.7 million), supporting a book value per share of $7.59 despite dilution. Net debt flipped deeply negative at -$4.6 million—meaning cash exceeds debt by that amount, a liquidity buffer that’s vital for survival in tech R&D. Total debt plunged 38% to $253,000, down from peaks over $700,000 earlier. Working capital swelled to $6.1 million (121% increase), signaling short-term stability.
Capex remains negligible (under $10k per share annually), smart for a software-heavy firm focused on apps rather than factories. EV/FCF improved to 0.24x, and EV/Sales turned slightly negative in 2024 (-0.09x), implying the enterprise value is below sales—a rare bargain if growth rebounds. These correlate with narrowing losses: less debt and more cash reduce bankruptcy risk, buying time for product adoption.
Insider Buying: CEO’s Skin in the Game
No sells in sight, but bullish activity from the CEO: 28,306 shares scooped up in late 2025 (Nov–Dec), across four buys totaling around $18,300 in cost. Holdings jumped from zero to nearly 75,000 shares initially, then to 293,085 by year-end. Insider buys like this are a green flag—execs putting personal cash on the line often precede turnarounds, correlating historically with 20–50% outperformance in small caps. No activity earlier in 2025, but this cluster amid falling revenue projections screams confidence in unreported catalysts, perhaps new contracts or tech wins.
Stock Price Journey: From Peaks to Penny Territory
The low/high prices paint a stark decline: early years showed wild swings (2017 high near $50,100? Likely pre-multiple reverse splits—check MYSZ’s history of 1-for-20 in 2020, 1-for-13 in 2022, etc.), but post-2022, it’s trended down sharply—2023 high $27.60 to 2024’s $9.40 (66% drop), aligning with revenue per share halving and dilution. Recent close implies the stock trades at a deep discount to book (PB 0.56x) and sales, far below historical PS peaks. This decoupling from improving margins/losses suggests market skepticism on growth sustainability, amplified by broader small-cap woes post-2022 rate hikes.
Analyst Projections: Growth Hiccup Ahead?
Analysts forecast revenue plunging 62% to $3.1 million in 2025, then rebounding 36% to $4.2 million in 2026—perhaps a one-off 2024 peak from a big order? Shares stabilize at 3.85 million, so revenue per share drops to $0.81 then $1.10. No net income projections, but EBT margin at 0% hints at breakeven. Uniform price targets point to roughly 425% upside from recent close—a bold call implying faith in recovery. PS drops near zero, EV/Sales to 0.17–0.23x—cheap if margins hold.
Key Events Shaping the Decade
MYSZ went public via NASDAQ in 2016 amid Israel tech boom, launching SizeUp app for e-commerce sizing. COVID boosted contactless measuring interest (revenue ticked up 2020), but 2021–2022 supply chain woes and competition from apps like Google Measure hurt. Recent wins include partnerships (e.g., with Avery Dennison in 2023 for logistics), but massive dilution funded R&D pivots to AI measuring. Macro headwinds: 2022 inflation crushed microcaps, and MYSZ’s reverse splits (erasing gains) spooked investors.
Risks, Opportunities, and Investor Takeaway
Correlations scream caution: revenue growth fueled dilution, tanking stock despite better margins/losses. Future revenue dip risks further pressure, but insider buys, net cash, and tiny valuation scream oversold. If 2026 revenue hits estimates and margins expand, breakeven could spark a rerating—watch for Q4 2025 earnings. ROIC/ROA still negative (-1.08%/-0.42%) flag inefficient capital use, a red flag for scaling.
Bottom line for retail folks: MYSZ is high-risk/high-reward. At 425% to targets, it’s speculative, but CEO buying and cheap metrics warrant a small position if you’re growth-tolerant. Track revenue beats and dilution halt—could be a multibagger or money pit. Do your DD, and maybe size it like their tape measure: precisely small.
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