MYSZ - MySize surges 47% on higher quarterly revenue
- MySize ( NASDAQ: MYSZ ) is trading 47% higher after the company posted 2570% higher quarterly revenue, due to revenue generated following acquisition of Orgad.
- Revenue rose 2566.7% Y/Y to $0.8M.
- Operating expenses decreased by 55% Y/Y to $1.97M, due to increased costs in the second quarter of 2022 associated with the Orgad acquisition and a decrease in R&D expenses from the same period in 2021 when a one-time $2.6M share issuance was recorded.
- Net loss for the three months fell 60% Y/Y to $1.72M.
- Cash and cash equivalents totaled $6.5M at June 30.
- Stock has been down 21% YTD.
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MySize surges 47% on higher quarterly revenue