My Size Inc.(MYSZ), a leading technolo gy company specializing in innovative measurement solutions, has released its condensed consolidated interim financial statements for the first quarter of 2023. The company reported a net loss of $2.65 million for the quarter, along with revenue of $720,000. The financial statements provide insights into the company's current financial position, including balance sheets, statements of comprehensive loss, changes in stockholders' equity, and cash flows.
My Size Inc. Reports Q1 2023 Net Loss of $2.65 Million
My Size Inc. and its subsidiaries faced a net loss of $2.65 million for the first quarter of 2023, according to the recently released condensed consolidated interim financial statements. This figure represents the company's financial performance during the three-month period ending on March 31, 2023.
Q1 2023 Revenue for My Size Inc. Stands at $720,000
The financial statements reveal that My Size Inc. generated revenue of $720,000 in the first quarter of 2023. This revenue figure underscores the company's ongoing efforts to establish its presence and offerings within the market.
My Size Inc.'s Q1 2023 Financial Overview
My Size Inc. and its subsidiaries have provided a comprehensive overview of their financial performance in the condensed consolidated interim financial statements for the first quarter of 2023. The company's net loss of $2.65 million and revenue of $720,000 during the period offer a glimpse into its financial trajectory.
The detailed financial statements include various sections, such as the Condensed Consolidated Interim Balance Sheets, which outline the company's current and non-current assets and liabilities. The statements shed light on the company's cash and cash equivalents, restricted cash, inventory, account receivables, and other financial assets. Additionally, long-term deposits, property and equipment, intangible assets, and investments are part of the company's non-current assets.
The Condensed Consolidated Interim Statements of Comprehensive Loss provide insights into My Size Inc.'s gross profit and operating expenses. The statements reveal that the company faced an operating loss of $2.49 million during the first quarter of 2023. Further breakdowns of operating expenses, including research and development, sales and marketing, and general and administrative costs, contribute to a comprehensive understanding of the company's financial health.
The Condensed Consolidated Interim Statements of Changes in Stockholders' Equity elucidate changes in the company's equity, including common stock, additional paid-in capital, accumulated other comprehensive loss, and accumulated deficit. The statements capture the effects of stock-based compensation, issuance of shares related to business combinations, and various other factors that influenced the company's equity during the quarter.
The Condensed Consolidated Interim Statements of Cash Flows offer a closer look at the company's cash movements. The figures highlight cash flows from operating, investing, and financing activities, giving investors and stakeholders insight into the sources and uses of the company's funds during the period.
These condensed consolidated interim financial statements for the first quarter of 2023 provide valuable insights into My Size Inc.'s financial performance, serving as a key resource for investors, analysts, and stakeholders interested in understanding the company's trajectory in the rapidly evolving technology market.