111, Inc.’s Inexorable Drive Towards Profitability

  • 111, Inc. kept growing despite strong headwinds from pandemic lockdowns, which will continue to plague Q2 but not enough to lower FY22 outlook.
  • 111, Inc. has plenty of growth avenues, particularly in high-margin services, which are growing at 70% from a very small base.
  • Despite the higher cost related to Covid, the company showed impressive gross margin expansion and operational leverage, bringing it in sight of breakeven.
  • The shares are still very cheap.
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111, Inc. (YI): Q1 2022 Earnings Indicate Drive Towards Profitability