My Size, Inc. Segments Disclosure
Note 16 – Operating Segments
The Company reports its financial results for the two reportable segments: (i) fashion and equipment e-commerce platform, and (ii) SaaS based innovative artificial intelligence driven measurement solutions. The Company chief executive officer who is the Chief Operating Decision Maker (“CODM”) reviews, accompanied by disaggregated information about revenues and contributed profit by the two identified reportable segments. The fashion and equipment e-commerce platform which represents Orgad’s activity that was acquired by the Company in 2022, mainly operates on Amazon. The SaaS based innovative artificial intelligence driven measurement solutions, or SaaS Solutions operating segment consists of My Size Inc, My Size Israel, My Size LLC and Naiz.
The Company operating segments are the same as its reportable segments.
The CODM reviews total operating expenses and consolidated net loss to assess performance, forecast future financial results and allocate resources. In assessing the Company’s financial performance and making strategic decisions, the CODM regularly reviews segment loss and operating expenses by function. This includes a review of budget versus actual expenses and cost of goods, sales and marketing salaries and other segment expenses. For the fashion and equipment e-commerce platform operating segment the CODM also reviews gross profit and Amazon fees. For the SaaS Solutions operating segment, the CODM also reviews research and development expenses.
Revenue, costs of goods and other costs and expenses are generally directly attributed to the segments. These expenses include research and development related expenses, costs of Amazon fees, cost of goods, and legal-related costs. Indirect costs are allocated to segments based on a reasonable allocation methodology, when such costs are significant to the performance measures of the operating segments. Indirect operating expenses, such as insurance, legal and audit services, mostly allocated based on revenues, most of which is allocated to the fashion and equipment e-commerce platform segment.
Information related to the operations of the Company’s reportable operating segments is set forth below:
Fashion and equipment e-commerce platform | SaaS Solutions | Total | ||||||||||
| As of the year ended December 31, 2024 | ||||||||||||
| Revenues from external customers | 7,528 | 729 | 8,257 | |||||||||
| Cost of revenues | (4,866 | ) | (68 | ) | (4,934 | ) | ||||||
| Research and development expenses | (429 | ) | (429 | ) | ||||||||
| Amazon fees | (2,094 | ) | (2,094 | ) | ||||||||
| Sales and marketing Salaries | (137 | ) | (415 | ) | (552 | ) | ||||||
| Impairment of goodwill | (631 | ) | (631 | ) | ||||||||
| Other Segment Items (*) | (2,493 | ) | (1,068 | ) | (3,561 | ) | ||||||
| Segment loss | (2,062 | ) | (1,882 | ) | (3,944 | ) | ||||||
| Reconciliation of Profit or Loss | ||||||||||||
| Financial income (expense), net | (51 | ) | ||||||||||
| Loss before income taxes | (3,995 | ) | ||||||||||
| Significant non-cash items: | ||||||||||||
| Amortization (**) | (109 | ) | (185 | ) | (294 | ) | ||||||
| Other Income (***) | 275 | 275 | ||||||||||
| Impairment of goodwill (**) | (631 | ) | (631 | ) | ||||||||
| Share based payments | (256 | ) | (134 | ) | (390 | ) | ||||||
| (*) | Other segments items include shared based payments, rent and related expenses, professional services, insurance and other expenses. | |
| (**) | See Note 7. | |
| (***) | See Note 20. |
Fashion and equipment e-commerce platform | Saas Solution | |||||||
| As of December 31, 2024: | ||||||||
| Assets | 8,066 | 1,993 | ||||||
Fashion and equipment e-commerce platform | SaaS Solutions | Total | ||||||||||
| As of the year ended December 31, 2023 | ||||||||||||
| Revenues from external customers | 6,367 | 629 | 6,996 | |||||||||
| Cost of revenues | (4,203 | ) | (62 | ) | (4,265 | ) | ||||||
| Research and development expenses | (974 | ) | (974 | ) | ||||||||
| Amazon fees | (1,858 | ) | (1,858 | ) | ||||||||
| Sales and marketing Salaries | (133 | ) | (744 | ) | (877 | ) | ||||||
| Impairment of goodwill | (671 | ) | (671 | ) | ||||||||
| Other Segment Items (*) | (3,529 | ) | (1,563 | ) | (5,092 | ) | ||||||
| Segment loss | (3,356 | ) | (3,385 | ) | (6,741 | ) | ||||||
| Reconciliation of Profit or Loss | ||||||||||||
| Financial income (expense), net | 99 | |||||||||||
| Equity loss of equity method investees | (71 | ) | ||||||||||
| Loss before income taxes | (6,713 | ) | ||||||||||
| Significant non-cash items: | ||||||||||||
| Amortization (**) | (111 | ) | (191 | ) | (302 | ) | ||||||
| Impairment of goodwill (**) | (671 | ) | (671 | ) | ||||||||
| Share based payments | (234 | ) | (219 | ) | (453 | ) | ||||||
| (*) | Other segments items include shared based payments, rent and related expenses, professional services, insurance and other expenses. | |
| (**) | See Note 7. |
Fashion and equipment e-commerce platform | Saas Solution | |||||||
| As of December 31, 2023: | ||||||||
| Assets | 6,352 | 2,639 | ||||||
The Company elected to present geographic information in respect with revenues generated from external customers based on the selling location.
Long-lived assets, which includes investment in JV, property, plant and equipment and right of use assets, by geographic region are as follows:
| Year ended | ||||||||
| December 31, | ||||||||
| 2024 | 2023 | |||||||
| Israel | 229 | 718 | ||||||
| Spain | 744 | 1,609 | ||||||
| Other | 24 | |||||||
| 973 | 2,351 | |||||||
For the year ended December 31, 2024, 91.64% of the Company’s total revenues were generated in the United states, no other foreign destination comprised 10.0% or more of the Company’s total revenues.
For the year ended December 31, 2023, 86.45% of the Company’s total revenues were generated in the United states, no other foreign destination comprised 10.0% or more of the Company’s total revenues.
MY SIZE, INC. AND ITS SUBSIDIARIES
NOTES TO CONSOLIDATED FINANCIAL STATEMENTS
U.S. dollars in thousands (except share data and per share data)
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About Segments Disclosures
Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.
Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.