111 Clocks 24% Revenue Growth In Q1
Portfolio Pulse from Lekha Gupta
111 Inc reported a 23.9% Y/Y increase in Q1 2023 net revenues to ¥3.7 billion ($538.3 million), marking the 19th consecutive quarterly growth since its IPO. B2B revenues grew 24.9% Y/Y, while B2C revenue remained flat. Adjusted operating income was ¥2.5 million ($0.4 million), and the adjusted loss per ADS was ¥(0.1) or $(0.02).
June 15, 2023 | 2:00 pm
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111 Inc's Q1 2023 net revenues increased 23.9% Y/Y to ¥3.7 billion ($538.3 million), with B2B revenues growing 24.9% Y/Y. Adjusted operating income was ¥2.5 million ($0.4 million), and the adjusted loss per ADS was ¥(0.1) or $(0.02).
111 Inc's strong Q1 2023 results, with a 23.9% Y/Y increase in net revenues and significant growth in B2B revenues, indicate a positive outlook for the company. The improvement in adjusted operating income and reduced adjusted loss per ADS also signal a positive short-term impact on the stock price.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100