YI 111, Inc.

Overview and Growth

111, Inc. generated $1.80B of revenue in fiscal 2025, with net loss of $9.49M and an operating cash inflow of $17.04M. Revenue of $1.80B sets the scale for evaluating how effectively sales translated into profit and cash during the year. Revenue was 9.0% below fiscal 2024 revenue of $1.97B, marking a top-line contraction. The company reported diluted EPS of -$0.05, adding a shareholder-level measure to the absolute income figures considered below. Total assets stood at $314.63M, showing the scale of resources supporting revenue, earnings, liquidity, and financing. Revenue equaled 5.71x of total assets, indicating how much reported top-line activity the company produced relative to its period-end asset base.

Profitability

Gross profit was $103.45M, representing the portion of revenue remaining after the reported cost of revenue and before operating expenses. Gross margin was 5.8%, so that share of each revenue unit remained after the cost of revenue reported for the period. The company recorded an operating loss of $340.00K after the reported operating expense base. Relative to revenue, the operating deficit measured 0.0%, showing the shortfall after operating costs. The bottom-line result was a net loss of $9.49M after operating, financing, tax, and other recognized items. Net margin was -0.5%, reflecting a loss equal to 0.5% of reported revenue. EBITDA was $1.35M, adding a pre-interest, tax, depreciation, and amortization view of the company’s earnings capacity. The company reported a pretax loss of $3.22M, before the effect of income taxes. Pretax margin was -0.2%, reflecting a pre-tax loss equal to 0.2% of revenue. Income tax expense totaled $2.00K, providing the reported tax component that separates pretax and after-tax earnings. Relative to total assets, the net loss represented 3.0%. The bottom-line deficit increased from $8.87M in fiscal 2024 to $9.49M.

Liquidity and Capital Structure

At period end, the $314.63M asset base was financed through $283.97M of liabilities and -$103.17M of equity. Equity was negative at -$103.17M, meaning liabilities exceeded the residual book value available to shareholders and weakening balance-sheet resilience. Current assets were $303.85M against $279.37M of current liabilities, framing the resources and obligations classified within the near-term balance-sheet horizon. Current assets covered current liabilities by 1.09x, leaving a positive buffer for near-term obligations. Cash and equivalents totaled $73.07M, identifying the most liquid reported component available within the broader current-asset balance. The cash balance equaled 26.2% of current liabilities, showing how much near-term coverage came from cash alone. Book equity represented -32.8% of total assets, quantifying the balance-sheet share supported by shareholder capital. Liabilities represented 90.3% of total assets, quantifying the liability-funded share of the company’s resource base. Measured against total assets, cash and equivalents represented 23.2%, a balance-sheet composition measure rather than a liquidity forecast. Total assets were 17.6% lower than fiscal 2024 assets of $381.92M, measuring the company’s own balance-sheet change. The reported cash balance changed 15.4% from $63.33M in fiscal 2024, ending higher year over year.

Cash Flow and Earnings Quality

Cash flow from operations was $17.04M, a reported cash inflow that can be compared directly with net income and capital spending. Capital expenditures used $636.00K, identifying the reported investment outflow deducted from operating cash flow in the free-cash-flow calculation. Capital spending absorbed 3.7% of operating cash flow, quantifying the share of cash from operations directed to investment. Free cash flow came to $16.40M, leaving a positive amount after capital expenditures. Free cash flow represented 0.9% of revenue, linking post-investment cash generation with the company’s operating scale. The free-cash-flow-to-assets relationship was 5.2%, comparing post-investment cash with the balance-sheet asset base.

Based on the annual report for the fiscal year ending Dec 31, 2025. Analysis generated Oct 21, 2026.