My Size, Inc. ( MYSZ ) stock is moving higher on Friday after the company announced its annual shareholder update which included financial targets for 2025 and year-end projections.

What To Know: The company announced that it anticipates closing 2024 with $8.5 million in revenue, a 23% year-over-year growth. My Size ( MYSZ ) attributes the recent traction gained over the past year to technological advancements and market expansion of its e-commerce platform, Orgad.

The company expects that it will be able to utilize this momentum in order to hit $15 million in revenue by 2025. In addition, the company believes that it will be able to achieve further operational cost savings that will enhance flexibility in cash flow management.

“Our preliminary financial results highlight Orgad’s pivotal role in driving our revenue growth. By optimizing operational efficiency and capitalizing on strategic market expansions, Orgad demonstrates its capacity to deliver strong performance while providing the flexibility needed to pursue ambitious targets,” said Ronen Luzon, Founder and CEO of MySize.

“2024 has proven that our strategy is not just ambitious, but highly effective, and we believe that it lays the groundwork for sustainable growth.”

My Size ( MYSZ ) also announced the company is shifting the focus of Orgad from focusing primarily on North America to expanding operations across Europe. This shift comes after receiving certification to become a supplier for a major European retailer

“We believe that Europe represents a significant opportunity for Orgad as we tap into new markets and strengthen relationships with global retail leaders,” Luzon said.

Related Link: Bitcoin Could Slide To $60,000, Technical Analyst Warns

MYSZ Price Action: At the time of publication, My Size ( MYSZ ) stock is moving 41.7% higher at $5.93, according to data from Benzinga Pro.

Image: Image via Shutterstock