Company: MYSZ
Filing Date: 2025-03-27
Form Type: 10-K
Source: 0001641172-25-000990
Chunk: 385

Company: My Size, Inc.
Filing Date: 2025-03-27
Form: 10-K
Item: Item 4
Chunk 385
---
 in subcontractor expenses.

Sales
and Marketing Expenses

Our
sales and marketing expenses for the year ended December 31, 2024 amounted to $3,114,000 a decrease of $742,000, or 19.2%, compared
to $3,856,000 for the year ended December 31, 2023. The decrease primarily resulted from a decrease in salaries due to reduced
headcount, consultant expenses, travel and marketing expenses offset by an increase in Amazon fees due to an increase in
sales.

General
and Administrative Expenses

Our
general and administrative expenses for the year ended December 31, 2024 amounted to $3,368,000, a decrease of $603,000, or
15.2%, compared to $3,971,000 for the year ended December 31, 2023. The decrease compared to the corresponding period was mainly due
to a decrease in professional services and insurance expenses.

Other
income

Our
other income for the year ended December 31, 2024 amounted to $275,000 compared to none for the year ended December 31, 2023. The
other income for the year ended December 31, 2024 resulted from certain downward post-closing adjustment that were made in the Orgad
acquisition.

Impairment
of goodwill

Based
on our analysis, we determined that the carrying value of our SaaS Solutions reporting unit exceeded its fair value and an
impairment charge of $631,000 was recorded for year ended December 31, 2024, compared to $671,000 recorded in impairment of goodwill
for year ended December 31, 2023 for the same reason.

Operating
Loss

As
a result of the foregoing, for the year ended December 31, 2024, our operating loss was $3,944,000, a decrease of $2,797,000 or 41.5%,
compared to our operating loss for the year ended December 31, 2023 of $6,741,000.

42

Financial
(Expenses) Income, Net

Our
financial expenses, net for the year ended December 31, 2024 amounted to $51,000 compared to financial income of, $99,000 for the year
ended December 31, 2023. In 2024, we had financial expenses exchange rate differences offset by an income from fair value revaluation
of investment in market