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111, Inc. Announces Third Quarter 2024 Unaudited Financial Results

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Maintained Operational Profitability for the Third Consecutive QuarterOperating Expenses as a Percentage of Revenues Decreased 160 Basis Points YoYHeld Positive Operating Cash Flow for Three Consecutive Quarters

SHANGHAI, Nov. 27, 2024 /PRNewswire/ — 111, Inc. (“111” or the “Company”) (NASDAQ: YI), a leading tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in China, today announced its unaudited financial results for the third quarter ended September 30, 2024.

Third Quarter 2024 Highlights

Net revenues were RMB3.6 billion (US$513.1 million), remaining relatively flat compared to the same quarter last year.Gross segment profit (1) was RMB 210.6 million (US$ 30.0 million) increased by 10.5% year-over-year.Total operating expenses were RMB208.2 million (US$29.7 million), an improvement of 23.2% compared to RMB271.0 million in the same quarter of last year. As a percentage of net revenues, total operating expenses decreased by 160 basis points to 5.8% from 7.4% in the same quarter of last year, demonstrating continuous improvement in the Company’s operational efficiency.Income from operations was RMB2.4 million (US$0.3 million), compared to loss from operations of RMB80.4 million in the same quarter of last year. 111 maintained operational profitability for the third consecutive quarter.Non-GAAP income from operations (2) was RMB7.1 million (US$1.0 million), compared to Non-GAAP loss from operations of RMB54.0 million in the same quarter of last year.Net cash from operating activities was RMB109.9 million (US$15.7 million). The Company has achieved positive operating cash flow for three consecutive quarters.

(1) Gross segment profit represents net revenues less cost of goods sold.

(2) Non-GAAP income from operations represents income from operations excluding share-based compensation expenses.

Mr. Junling Liu, Co-Founder, Chairman, and Chief Executive Officer of 111, commented, “While the macroeconomic environment in China continues to present challenges, we are proud of our ability to maintain operational profitability for the third consecutive quarter. This achievement is a testament to the strength of our business model as a one-stop shopping platform that offers the most comprehensive selection of pharmaceutical products at competitive prices. It also highlights our commitment to operational efficiency across the organization. As a result, income from operations in Q3 reached RMB2.4 million, a significant improvement from an operational loss of RMB80.4 million in the prior year.”

Mr. Liu added, “We gained greater operational efficiency through diligent cost management, ongoing infrastructure investments, and effective staffing arrangements, all of which has enabled us to navigate an unfavorable consumer spending environment while delivering solid performance results. Operating expenses were 5.8% of revenues, a reduction of 160 basis points compared to the previous year, while non-GAAP operating expenses as a percentage of revenues decreased by 100 basis points to 5.7%. We aim to lead the pharmaceutical e-commerce sector in efficiency and sharpen our competitive advantages. As we scale and optimize operations, we expect further cost savings, which will be reinvested into growth initiatives, including technological advancements, market expansion, and client base growth, driving future profitability.”

“We are strengthening our core competitiveness in digitalization through advancements across multiple areas, laying a strong foundation for an agile, highly efficient, and customer-centric business that can swiftly adapt to evolving industry needs. Additionally, we’ve bolstered our supply chain with an expanded transshipment network and new fulfillment centers, further enhancing our service capabilities.”

“Despite challenges, we are still confident in the long-term opportunities ahead. Our investments in AI and digital technologies are not only providing industry-leading efficiency and reshaping the healthcare value chain, but also positioning us to capture significant shifts in the pharmaceutical industry—particularly the unstoppable trend of digital transformation, the growing demand for out-of-hospital drug distribution, and the expansion of the silver economy. By deepening our partnerships with pharmaceutical companies, expanding our fulfillment network, refining our digital platforms, and prioritizing new growth engines, we are well-positioned to engage more industry stakeholders, meet the needs of a broad customer base, and generate sustained growth.”

Third Quarter 2024 Financial Results

Net revenues were RMB3.6 billion (US$513.1 million), representing a decrease of 1.8% from RMB3.7 billion in the same quarter of last year.

(In thousands RMB)

For the three months ended September 30,

2023

2024

YoY

B2B Net Revenue

Product

3,556,749

3,514,298

-1.2 %

Service

20,671

21,731

5.1 %

Sub-Total

3,577,420

3,536,029

-1.2 %

Cost of Products Sold(3)

3,406,320

3,340,998

-1.9 %

Segment Profit

171,100

195,031

14.0 %

Segment Profit %

4.8 %

5.5 %

 

(In thousands RMB)

For the three months ended September 30,

2023

2024

YoY

B2C Net Revenue

Product

82,538

61,031

-26.1 %

Service

5,287

3,615

-31.6 %

Sub-Total

87,825

64,646

-26.4 %

Cost of Products Sold    

68,301

49,061

-28.2 %

Segment Profit

19,524

15,585

-20.2 %

Segment Profit %

22.2 %

24.1 %

 

(3) For segment reporting purposes, purchase rebates are allocated to the B2B segment and B2C segments primarily based on the amount of cost of products sold for each segment. Cost of products sold does not include other direct costs related to cost of product sales such as shipping and handling expense, payroll and benefits of logistic staff, logistic centers rental expenses and depreciation expenses, which are recorded in the fulfillment expenses. Cost of service revenue is recorded in the operating expense.

Operating costs and expenses were RMB3.6 billion (US$512.8 million), representing a decrease of 3.9% from RMB3.7 billion in the same quarter of last year.

Cost of products sold was RMB3.4 billion (US$483.1 million), representing a decrease of 2.4% from RMB3.5 billion in the same quarter of last year.Fulfillment expenses were RMB100.0 million (US$14.2 million), representing a decrease of 1.6% from RMB101.6 million in the same quarter of last year. Fulfillment expenses accounted for 2.8% of net revenues this quarter, maintaining the same as last year.Selling and marketing expenses were RMB77.0 million (US$11.0 million), representing a decrease of 19.4% from RMB95.5 million in the same quarter of last year. Excluding the share-based compensation expenses of RMB1.6 million for the quarter and RMB5.1 million for the same quarter last year, respectively, selling and marketing expenses as a percentage of net revenues accounted for 2.1% in the quarter as compared to 2.5% in the same quarter of last year.General and administrative expenses were RMB14.4 million (US$2.0 million), representing a decrease of 68.7% from RMB45.8 million in the same quarter of last year. Excluding the share-based compensation expenses of RMB2.3 million for the quarter and RMB16.8 million for the same quarter last year, respectively, general and administrative expenses as a percentage of net revenues accounted for 0.3% in the quarter as compared to 0.8% in the same quarter of last year.Technology expenses were RMB17.5 million (US$2.5 million), representing a decrease of 30.9% from RMB25.4 million in the same quarter of last year. Excluding the share-based compensation expenses of RMB0.9 million for the quarter and RMB4.5 million for the same quarter last year, respectively, technology expenses as a percentage of net revenues accounted for 0.5% in the quarter as compared to 0.6% in the same quarter of last year.

Income from operations was RMB2.4 million (US$0.3 million), compared to loss from operations of RMB80.4 million in the same quarter of last year.

Non-GAAP income from operations was RMB7.1 million (US$1.0 million), compared to non-GAAP loss from operations of RMB54.0 million in the same quarter of last year.

Net loss was RMB3.5 million (US$0.5 million), representing an improvement of 96% from RMB83.5 million in the same quarter of last year. As a percentage of net revenues, net loss amounted to 0.1% in the quarter, down from 2.3% in the same quarter of last year.

Non-GAAP net income (4) was RMB1.3 million (US$0.2 million), compared to non-GAAP net loss of RMB57.1 million in the same quarter of last year.

Net loss attributable to ordinary shareholders was RMB17.1 million (US$2.4 million), representing an improvement of 82% from RMB93.3 million in the same quarter of last year. As a percentage of net revenues, net loss attributable to ordinary shareholders accounted for 0.5% in the quarter, down from 2.5% in the same quarter of last year.

Non-GAAP net loss attributable to ordinary shareholders (5) was RMB12.4 million (US$1.8 million), representing an improvement of 82% from RMB66.9 million in the same quarter of last year. As a percentage of net revenues, non-GAAP net loss attributable to ordinary shareholders, accounted for 0.3% in the quarter, down from 1.8% in the same quarter of last year.

(4) Non-GAAP net income represents net income excluding share-based compensation expenses, net of tax. Considering the impact of accretion of redeemable non-controlling interest for the third quarter 2024, non-GAAP net income is used as a meaningful measurement of the operation performance of the Company.

(5) Non-GAAP net loss attributable to ordinary shareholders represents net loss attributable to ordinary shareholders excluding share-based compensation expenses, net of tax.

As of September 30, 2024, the Company had cash and cash equivalents, restricted cash and short-term investments of RMB614.4 million (US$87.6 million), compared to RMB673.7 million as of December 31, 2023. To date, the Company has a total outstanding amount of RMB1.1 billion, which has been included in the balances of redeemable non-controlling interests and accrued expenses and other current liabilities, owed to a group of investors of 1 Pharmacy Technology pursuant to their equity investments made in 2020 as previously disclosed. 111 received redemption requests from certain of such investors in accordance with the terms of their initial investments in 1 Pharmacy Technology. Following communication and negotiation, the Company has reached agreements and/or commitment letters with investors representing approximately 90% of the total amount to reschedule the repayments, allowing for phased repayments at extended periods, if the holders exercise their redemption right. The Company has paid a portion of the repurchase funds upon signing of the agreements. Additionally, the Company is in ongoing discussions with investors holding the remaining approximately 10% of the total amount. For more information about the terms of 111’s arrangements with these investors, see “Item 5. Operating and Financial Review and Prospects—B. Liquidity and Capital Resources” in the Company’s annual report for the fiscal year ended December 31, 2023.

Conference Call

111’s management team will host an earnings conference call at 7:30 AM U.S. Eastern Time on Wednesday, November 27, 2024 (8:30 PM Beijing Time on the same day).

Details for the conference call are as follows:

Event Title: 111, Inc. Third Quarter 2024 Unaudited Financial Results
Registration Link: https://s1.c-conf.com/diamondpass/10042738-te7sgd.html 

All participants must use the link provided above to complete the online registration process in advance of the conference call. Upon registering, each participant will receive a set of participant dial-in numbers, the Direct Event passcode, and a unique Registration ID, which can be used to join the conference call.

Please dial in 15 minutes before the call is scheduled to begin and provide the Direct Event passcode and unique Registration ID you have received upon registering to join the call.

A telephone replay of the call will be available after the conclusion of the conference call until December 4, 2024 via:

China: 4001 209 216
United States: +1 855 883 1031
International: +61 7 3107 6325
Conference ID: 10042738

A live and archived webcast of the conference call will be available on the website at https://edge.media-server.com/mmc/p/3nkscjv6.

Use of Non-GAAP Financial Measures

In evaluating the business, the Company considers and uses non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS, as supplemental measures to review and assess its operating performance. The Company defines non-GAAP income (loss) from operations as income (loss) from operations excluding share-based compensation expenses. The Company defines non-GAAP net income (loss) as net loss excluding share-based compensation expenses, net of tax. The Company defines non-GAAP net loss attributable to ordinary shareholders as net loss attributable to ordinary shareholders excluding share-based compensation expenses, net of tax. The Company defines non-GAAP loss per ADS as net loss attributable to ordinary shareholders per ADS excluding share-based compensation expenses, net of tax per ADS. The presentation of these non-GAAP financial measures is not intended to be considered in isolation or as a substitute for the financial information prepared and presented in accordance with U.S. GAAP.

The Company believes that non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS help identify underlying trends in its business that could otherwise be distorted by the effect of certain expenses that it includes in income (loss) from operations and net loss. Share-based compensation expenses is a non-cash expense that varies from period to period. As a result, management excludes the items from its internal operating forecasts and models. Management believes that the adjustments for share-based compensation expenses provide investors with a reasonable basis to measure the company’s core operating performance, in a more meaningful comparison with the performance of other companies. The Company believes that non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, and non-GAAP loss per ADS provide useful information about its operating results, enhances the overall understanding of its past performance and future prospects and allow for greater visibility with respect to key metrics used by the management in their financial and operational decision-making.

The non-GAAP financial measures are not defined under U.S. GAAP and are not presented in accordance with U.S. GAAP. The non-GAAP financial measures have limitations as analytical tools. One of the key limitations of using non-GAAP income (loss) from operations, non-GAAP net income (loss), non-GAAP net loss attributable to ordinary shareholders, or non-GAAP loss per ADS is that it does not reflect all items of income and expense that affect the Company’s operations. Further, the non-GAAP financial measures may differ from the non-GAAP information used by other companies, including peer companies, and therefore their comparability may be limited.

The Company compensates for these limitations by reconciling the non-GAAP financial measures to the most comparable U.S. GAAP measures, all of which should be considered when evaluating the Company’s performance. The Company encourages you to review its financial information in its entirety and not rely on a single financial measure.

Reconciliation of the non-GAAP financial measures to the most comparable U.S. GAAP measures is included at the end of this press release.

Exchange Rate Information Statement

This announcement contains translations of certain RMB amounts into U.S. dollars at specified rates solely for the convenience of the reader. Unless otherwise noted, all translations from RMB to U.S. dollars are made at a rate of RMB7.0176 to US$1.00, the exchange rate set forth in the H.10 statistical release of the Board of Governors of the Federal Reserve System as of September 30, 2024.

Forward-Looking Statements

This press release contains forward-looking statements. These statements constitute “forward-looking” statements within the meaning of Section 21E of the Securities Exchange Act of 1934, as amended, and as defined in the U.S. Private Securities Litigation Reform Act of 1995. These forward-looking statements can be identified by terminology such as “will,” “expects,” “anticipates,” “future,” “intends,” “plans,” “believes,” “estimates,” “target,” “confident” and similar statements. Among other things, the Business Outlook and quotations from management in this announcement, as well as 111’s strategic and operational plans, contain forward-looking statements. 111 may also make written or oral forward-looking statements in its periodic reports to the U.S. Securities and Exchange Commission, in its annual report to shareholders, in press releases and other written materials and in oral statements made by its officers, directors or employees to third parties. Such statements are based upon management’s current expectations and current market and operating conditions and relate to events that involve known or unknown risks, uncertainties and other factors, all of which are difficult to predict and many of which are beyond the Company’s control. Forward-looking statements involve inherent risks, uncertainties and other factors that could cause actual results to differ materially from those contained in any such statements. Potential risks and uncertainties include, but are not limited to, uncertainties as to the Company’s ability comply with extensive and evolving regulatory requirements, its ability to compete effectively in the evolving PRC general health and wellness market, its ability to manage the growth of its business and expansion plans, its ability to achieve or maintain profitability in the future, its ability to control the risks associated with its pharmaceutical retail and wholesale businesses, and the Company’s ability to meet the standards necessary to maintain listing of its ADSs on the Nasdaq Global Market, including its ability to cure any non-compliance with Nasdaq’s continued listing criteria. Further information regarding these and other risks, uncertainties or factors is included in the Company’s filings with the U.S. Securities and Exchange Commission. All information provided in this press release is as of the date of this press release, and 111 does not undertake any obligation to update any forward-looking statement as a result of new information, future events or otherwise, except as required under applicable law.

About 111, Inc.

111, Inc. (NASDAQ: YI) (“111” or the “Company”) is a leading tech-enabled healthcare platform company committed to reshaping the value chain of healthcare industry by digitally empowering the upstream and downstream in China. The Company provides consumers with better access to pharmaceutical products and healthcare services directly through its online retail pharmacy, 1 Pharmacy, and indirectly through its offline virtual pharmacy network. The Company also offers online healthcare services through its internet hospital, 1 Clinic, which provides consumers with cost-effective and convenient online consultation, electronic prescription service, and patient management service. In addition, the Company’s online platform, 1 Medicine, serves as a one-stop shop for pharmacies to source a vast selection of pharmaceutical products. With the largest virtual pharmacy network in China, 111 enables offline pharmacies to better serve their customers with cloud-based services. 111 also provides an omni-channel drug commercialization platform to its strategic partners, which includes services such as digital marketing, patient education, data analytics, and pricing monitoring.

For more information on 111, please visit: http://ir.111.com.cn/.

For more information, please contact:

111, Inc.
Investor Relations
Email: ir@111.com.cn 

111, Inc.
Media Relations
Email: press@111.com.cn
Phone: +86-021-2053 6666 (China)

 

111, Inc.

UNAUDITED CONDENSED CONSOLIDATED BALANCE SHEETS

(In thousands, except for share and per share data)

As of

As of

December 31, 2023

September 30, 2024

RMB

RMB

US$

ASSETS

Current assets:

Cash and cash equivalents

603,523

531,981

75,807

Restricted cash

20,025

32,430

4,621

Short-term investments

50,143

50,000

7,125

Accounts receivable, net 

536,823

425,159

60,585

Notes receivable

77,598

80,853

11,521

Inventories

1,419,396

1,532,170

218,332

Prepayments and other current assets

225,823

234,295

33,388

Total current assets

2,933,331

2,886,888

411,379

Property and equipment, net

34,340

25,558

3,642

Intangible assets, net

2,256

1,643

234

Long-term investments

2,000

1,000

142

Other non-current assets

13,310

15,684

2,235

Operating lease right-of-use asset

103,799

98,909

14,094

Total assets

3,089,036

3,029,682

431,726

LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ DEFICIT

Current liabilities:

Short-term borrowings

338,075

168,517

24,013

Accounts payable

1,588,693

1,912,109

272,474

Accrued expense and other current liabilities 

818,295

569,246

81,116

Total current liabilities

2,745,063

2,649,872

377,603

Long-term operating lease liabilities

62,624

63,969

9,116

Other non-current liabilities

5,245

8,331

1,187

Total liabilities

2,812,932

2,722,172

387,906

MEZZANINE EQUITY

Redeemable non-controlling interests

870,825

943,774

134,487

SHAREHOLDERS’ DEFICIT

Ordinary shares Class A 

32

33

5

Ordinary shares Class B 

25

25

3

Treasury shares 

(5,887)

(5,887)

(839)

Additional paid-in capital

3,169,114

3,167,794

451,407

Accumulated deficit

(3,819,249)

(3,864,151)

(550,637)

Accumulated other comprehensive income

72,514

72,602

10,346

Total shareholders’ deficit

(583,451)

(629,584)

(89,715)

Non-controlling interest

(11,270)

(6,680)

(952)

Total deficit

(594,721)

(636,264)

(90,667)

Total liabilities, mezzanine equity and deficit

3,089,036

3,029,682

431,726

 

 

111, Inc.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

 (In thousands, except for share and per share data)

For the three months ended September 30,

For the nine months ended September 30,

2023

2024

2023

2024

RMB

RMB

US$

RMB

RMB

US$

Net revenues

3,665,245

3,600,675

513,092

10,839,503

10,553,474

1,503,858

Operating costs and expenses:

 Cost of products sold

(3,474,621)

(3,390,059)

(483,080)

(10,204,779)

(9,926,727)

(1,414,547)

 Fulfillment expenses

(101,602)

(99,977)

(14,247)

(299,202)

(276,559)

(39,409)

 Selling and marketing expenses

(95,523)

(76,954)

(10,966)

(274,880)

(237,724)

(33,875)

 General and administrative expenses

(45,839)

(14,367)

(2,047)

(126,235)

(50,747)

(7,231)

 Technology expenses

(25,386)

(17,549)

(2,501)

(75,243)

(54,225)

(7,727)

 Other operating (expenses) income, net

(2,696)

602

86

(2,723)

1,941

277

Total operating costs and expenses

(3,745,667)

(3,598,304)

(512,755)

(10,983,062)

(10,544,041)

(1,502,512)

(Loss) Income from operations

(80,422)

2,371

337

(143,559)

9,433

1,346

 Interest income

2,362

1,533

218

6,517

5,574

794

 Interest expense

(5,433)

(7,810)

(1,113)

(14,525)

(23,067)

(3,287)

 Foreign exchange gain (loss)

79

642

91

(1,095)

40

6

 Other income (loss), net

38

(193)

(28)

4,552

(116)

(17)

Loss before income taxes

(83,376)

(3,457)

(495)

(148,110)

(8,136)

(1,158)

 Income tax expense

(102)

(5)

(1)

(102)

(93)

(13)

Net loss

(83,478)

(3,462)

(496)

(148,212)

(8,229)

(1,171)

Net loss attributable to non-controlling interest

4,315

848

121

7,837

(431)

(61)

Net loss attributable to redeemable non-controlling interest

7,253

438

62

12,529

1,168

166

Adjustment attributable to redeemable non-controlling interest

(21,391)

(14,931)

(2,128)

(54,481)

(37,410)

(5,331)

Net loss attributable to ordinary shareholders

(93,301)

(17,107)

(2,441)

(182,327)

(44,902)

(6,397)

Other comprehensive loss

 Unrealized gains of available-for-sale securities,

1,013

(407)

(58)

3,936

(753)

(107)

 Realized gains of available-for-sale debt securities

(841)

407

58

(3,558)

896

128

 Foreign currency translation adjustments

(1,690)

(1,184)

(169)

4,234

(55)

(8)

Comprehensive loss

(94,819)

(18,291)

(2,610)

(177,715)

(44,814)

(6,384)

Loss per ADS:

 Basic and diluted

(1.10)

(0.20)

(0.02)

(2.16)

(0.52)

(0.08)

Weighted average number of shares used in computation of loss per share

 Basic and diluted

169,088,015

171,938,537

171,938,537

168,179,779

171,526,062

171,526,062

 

 

 

111, Inc.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

 (In thousands)

For the three months ended September 30,

For the nine months ended September 30,

2023

2024

2023

2024

RMB

RMB

US$

RMB

RMB

US$

Net cash provided by (used in) operating activities 

35,208

109,865

15,656

(250,230)

311,563

44,397

Net cash provided by (used in) investing activities 

5,163

49,845

7,103

91,913

(141)

(20)

Net cash provided by (used in) financing activities

110,452

(110,510)

(15,748)

204,230

(370,453)

(52,789)

Effect of exchange rate changes on cash and cash equivalents, and restricted cash

2,621

(313)

(45)

3,514

(106)

(15)

Net increase (decrease) in cash and cash equivalents, and restricted cash

153,444

48,887

6,966

49,427

(59,137)

(8,427)

Cash and cash equivalents, and restricted cash at the beginning of the period

612,774

515,524

73,462

716,791

623,548

88,855

Cash and cash equivalents, and restricted cash at the end of the period

766,218

564,411

80,428

766,218

564,411

80,428

 

 

 

 111, Inc.

Unaudited Reconciliation of GAAP and Non-GAAP Results

 (In thousands, except for share and per share data)

For the three months ended September 30,

For the nine months ended September 30,

2023

2024

2023

2024

RMB

RMB

US$

RMB

RMB

US$

(Loss) Income from operations

(80,422)

2,371

337

(143,559)

9,433

1,346

Add: Share-based compensation expenses

26,402

4,756

678

74,818

15,122

2,155

Non-GAAP (loss) income from operations

(54,020)

7,127

1,015

(68,741)

24,555

3,501

Net loss

(83,478)

(3,462)

(496)

(148,212)

(8,229)

(1,171)

Add: Share-based compensation expenses, net of tax

26,402

4,756

678

74,818

15,122

2,155

Non-GAAP net (loss) income

(57,076)

1,294

182

(73,394)

6,893

984

Net loss attributable to ordinary shareholders

(93,301)

(17,107)

(2,441)

(182,327)

(44,902)

(6,397)

Add: Share-based compensation expenses, net of tax

26,402

4,756

678

74,818

15,122

2,155

Non-GAAP net loss attributable to ordinary shareholders

(66,899)

(12,351)

(1,763)

(107,509)

(29,780)

(4,242)

Loss per ADS(6): Basic and diluted

(1.10)

(0.20)

(0.02)

(2.16)

(0.52)

(0.08)

Add: Share-based compensation expenses per ADS(6), net of tax

0.32

0.06

0.00

0.88

0.18

0.02

Non-GAAP loss per ADS(6)

(0.78)

(0.14)

(0.02)

(1.28)

(0.34)

(0.06)

(6) Every one ADS represents two Class A ordinary shares.

 

 

 

View original content:https://www.prnewswire.com/news-releases/111-inc-announces-third-quarter-2024-unaudited-financial-results-302317201.html

SOURCE 111, Inc.

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Notice of annual general meeting in Truecaller AB

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STOCKHOLM, April 20, 2026 /PRNewswire/ — The English text is an unofficial translation. In case of any discrepancies between the Swedish text and the English translation, the Swedish text shall prevail.

The shareholders in Truecaller AB, Reg. No. 559278-2774, are hereby invited to attend the annual general meeting (Sw. årsstämma) to be held at the company’s premises at Mäster Samuelsgatan 56 in Stockholm, Sweden, on Friday 22 May 2026 at 11:00 a.m. CEST.

Right to participate in the meeting and notice of participation
Shareholders wishing to attend the annual general meeting must:

be registered in the company’s share register kept by Euroclear Sweden AB as of Wednesday 13 May 2026; and

no later than on Monday 18 May 2026, notify the company of their intention to participate in the annual general meeting by mail to Computershare AB, “Truecaller’s AGM”, P.O. Box 149, SE-182 12 Danderyd, Sweden, by phone to +46(0)771 24 64 00, by e-mail to proxy@computershare.se, or electronically on the company’s website, (corporate.truecaller.com/governance/general-meetings). The notice should specify the complete name of the shareholder, personal identity number or company registration number, the number of shares held by the shareholder, address, telephone number during work hours and, when applicable, information on the number of advisors (two at the most).

Trustee-registered shares
Shareholders whose shares are trustee-registered in the name of a bank or other trustee must, to be able to exercise their voting rights at the annual general meeting, request the trustee to register their shares in their own name with Euroclear Sweden AB (so called “voting rights registration”). Such voting rights registration must be implemented by the trustee no later than as of Monday 18 May 2026. Accordingly, shareholders must well in advance before this date notify their trustee of their request of such voting rights registration.

Proxies etc.
A proxy representing a shareholder must bring a written, dated and by the shareholder signed power of attorney to the annual general meeting. The validity term of the power of attorney may be at the longest five years if this is specifically stated. In case no validity term is stated, the power of attorney is valid for at the longest one year. Should the power of attorney be issued by a legal entity, a copy of a registration certificate (Sw. registreringsbevis) or equivalent document shall be presented at the meeting. In order to facilitate the preparations before the meeting, a copy of the power of attorney and other proof of authority should be attached to the notice of participation. A template power of attorney can be found at the company website (corporate.truecaller.com/governance/general-meetings) and will be sent by mail to the shareholders who request it and state their address.

Proposed agenda 

0.        Opening of the meeting.

Election of chairman of the meeting.

Preparation and approval of the voting register.

Approval of the agenda.

Election of one or two persons to attest the minutes.

Determination as to whether the meeting has been duly convened.

Address by the chief executive officer.

Presentation of the annual report and the auditor’s report and the consolidated annual report and the auditor’s report on the consolidated annual report.

Resolution: 

a. in respect of the adoption of the profit and loss statement and the balance sheet and the consolidated profit and loss statement and the consolidated balance sheet;

b. in respect of the allocation of the company’s profits as set forth in the adopted balance sheet; and

c. in respect of discharge from liability of the board members and the chief executive officer.

Determination of the number of board members and the number of auditors and deputy auditors.

Determination of remuneration for the members of the board of directors.

Determination of remuneration for the auditors.

Election of board.
a. re-election of Alan Mamedi,

b. re-election of Annika Poutiainen,

c. re-election of Nami Zarringhalam,

d. re-election of Shailesh Lakhani,

e. re-election of Aruna Sundararajan.

f. new election of Sandeep Bhushan.

Election of chairman of the board.

Election of auditor.

Resolution on approval of remuneration report. 

Resolution on establishment of principles for the Nomination Committee.

Resolution on authorization for the board of directors regarding issues.

Resolution on authorization for the board of directors regarding repurchase and transfer of series B shares in the company.

Resolution on (A) reduction of the share capital by way of cancellation of own shares, and (B) increase of the share capital by way of bonus issue. 

Closing of the meeting.

Proposed resolutions

Item 1: Election of chairman of the meeting
The Nomination Committee, that has consisted of Kamjar Hajabdolahi (chairman), appointed by Nami Zarringhalam, Sven Törnkvist, appointed by Alan Mamedi, Staffan Ringvall, appointed by Handelsbanken Fonder, and Alan Mamedi, representing the board of directors, proposes that Annika Poutiainen is elected as chairwoman of the meeting.

Item 8 b: Resolution in respect of the allocation of the company’s profits as set forth in the adopted balance sheet
The board of directors proposes payment of a dividend of SEK 0.28 per series A and series B share. The record date to receive the dividend is proposed to be 26 May 2026. If the annual general meeting resolves in accordance with the proposal, payment of the dividend is expected to be performed through Euroclear Sweden AB on 29 May 2026. 

Item 9: Determination of the number of board members and the number of auditors and deputy auditors
The Nomination Committee proposes that the board of directors shall be composed of six (6) board members. Furthermore, it is proposed, in accordance with the recommendation from the Audit Committee, that one registered public accounting firm is appointed as auditor.

Item 10: Determination of remuneration for the members of the board of directors
The Nomination Committee proposes that board remuneration shall be paid with SEK 650,000 to the chairman of the board of directors and with SEK 500,000 to each of the other board members. It is further proposed that remuneration for committee work shall be paid with SEK 250,000 to the chairman of the Audit Committee, with SEK 100,000 to each of the other members of the Audit Committee, with SEK 150,000 to the chairman of the Remuneration Committee and with SEK 80,000 to each of the other members of the Remuneration Committee. The board remuneration is unchanged from the previous year.

Item 11: Determination of remuneration for the auditors 
The Nomination Committee proposes that remuneration for the auditor is, in accordance with the recommendation from the Audit Committee, paid in accordance with customary norms and approved invoice.

Item 12: Election of board
The Nomination Committee proposes that Alan Mamedi, Annika Poutiainen, Nami Zarringhalam, Shailesh Lakhani and Aruna Sundararajan are re-elected as board members. The Nomination Committee further proposes that Sandeep Bhushan is elected as new board member. Helena Svancar has declined re-election.

Mr. Bhushan, born 1974, brings extensive and direct experience from leading advertising platforms, having most recently served as India Director of Global Marketing Solutions at Meta, where he built and led a USD multi billion revenue business and was responsible for enterprise monetisation across complex advertising markets. His background further includes senior leadership at Samsung and WSJ/Mint, providing him with experience from the perspective of major advertisers operating across both platform and agency environments. Through these roles, Mr. Bhushan has developed substantial expertise in the dynamics of digital advertising ecosystems, including channel design, incentive structures, pricing and the interaction between advertiser relationships and long-term platform trust.

Mr. Bhushan possesses deep and proven knowledge of the Indian market, as well as a strong understanding of international markets. His experience navigating commercial and regulatory challenges within India’s complex environment is considered particularly valuable given Truecaller’s strategic priorities in India.

Mr. Bhushan’s other ongoing assignments include: Board member of Traya Health. Mr. Bhushan holds no shares in the company. Mr. Bhushan is considered to be independent both in relation to the company and its management aswell as in relation to its major shareholders.

Information on the board members proposed for re-election can be found at the company website (https://corporate.truecaller.com/governance/board-of-directors) and in the annual report. 

Item 13: Election of chairman of the board
The Nomination Committee proposes that Nami Zarringhalam is re-elected as chairman of the board of directors.

Item 14: Election of auditor
The Nomination Committee proposes, in accordance with the recommendation from the Audit Committee, that Ernst & Young AB is re-elected as accounting firm. Ernst & Young AB has informed that the authorized public accountant Anna Svanberg will be the auditor in charge.

Item 15: Resolution on approval of remuneration report
The board of directors proposes that the annual general meeting resolves to approve the board of directors’ remuneration report for the financial year 2025.

Item 16: Resolution on establishment of principles for the Nomination Committee
The Nomination Committee proposes that the following principles for the Nomination Committee shall apply.

The chair of the board of directors shall contact the three largest shareholders or groups of shareholders in terms of votes (this refers to both directly registered shareholders and nominee registered shareholders), according to Euroclear Sweden AB’s transcript of the share register as of 30 September each year, each appointing a representative to, together with the chair of the board of directors, constitute the Nomination Committee for the period until a new Nomination Committee has been appointed in accordance with a mandate from the annual general the coming year.

In the event that one of the three largest shareholders or groups of shareholders does not wish to appoint such a representative, the fourth largest shareholder or group of shareholders shall be consulted and so on until the Nomination Committee consists of four members (including the chair of the board).

The majority of the members of the Nomination Committee shall be independent in relation to the company and the company’s management. At least one of the members of the Nomination Committee shall be independent in relation to the largest shareholder in terms of votes or group of shareholders who cooperate on the company’s management. The CEO or any other person from the company’s management shall not be a member of the Nomination Committee. Board members may be members of the Nomination Committee but shall not constitute a majority of its members. If more than one board member is a member of the Nomination Committee, no more than one of them may be dependent in relation to the company’s major shareholders.

The Nomination Committee appoints the chairman of the committee among themselves. The appointed board member or other board members shall not be chairman of the Nomination Committee.

The composition of the Nomination Committee shall be announced no later than six months before the annual general meeting. If one or more shareholders who have appointed representatives to the Nomination Committee no longer belong to the three largest shareholders in the company at a time more than two months before the annual general meeting, the representatives of these shareholders shall resign from their duties and new members shall be appointed by the new shareholders who then belong to the three largest shareholders. If a member of the Nomination Committee resigns before the nomination committee’s work is completed, the same shareholder who appointed the outgoing member shall, if deemed necessary, have the right to appoint a new member, or if the shareholder is no longer among the three largest shareholders, the largest shareholder in turn, in accordance with the principles above, but on the basis of Euroclear Sweden AB’s print of the share register as soon as possible after the member has left his post.

Changes in the composition of the Nomination Committee shall be made public immediately.

No remuneration shall be paid to the members of the Nomination Committee. The company shall pay the necessary expenses that the Nomination Committee may incur within the framework of its work.

The term of office of the Nomination Committee ends when the subsequent Nomination Committee has been announced.

The Nomination Committee shall start its work as soon as possible after the announcement of the composition of the committee. The task for the Nomination Committee is to submit proposals on the following issues for resolution to the annual general meeting:

a. proposal for the chairman of the meeting;

b. proposals for members of the board of directors;

c. proposal for chairman of the board of directors;

d. proposal for auditors;

e. proposals for board fees, with a division between the chairman and the other members of the board of directors;

f. proposal for fees for the company’s auditors; and

g. proposal for principles for the appointment of the Nomination Committee for the annual general meeting.

These principles for the Nomination Committee shall be valid until further notice until a resolution on amendment is passed by a general meeting.

Item 17: Resolution on authorization for the board of directors regarding issues
The board of directors proposes that the annual general meeting resolves to authorize the board of directors, at one or several occasions, during the time up until the next annual general meeting, with or without deviation from the shareholders’ preferential rights, and with or without provisions regarding payment in kind or through set-off or other provisions, to resolve to issue new series B shares, convertibles and/or warrants entitling to conversion or subscription of series B shares. The total number of series B shares that may be issued (alternatively be issued through conversion of convertibles and/or exercise of warrants) shall not exceed 37,501,755, which corresponds to a dilution of ten (10) percent of the number of issued shares after the completion of the cancellation of shares proposed under item 19 on the agenda. To the extent an issue is made with deviation from the shareholders’ preferential rights, the subscription price shall be on market terms (subject to customary new issue discount, as applicable). The purpose of the authorization is to be able to carry out and finance acquisitions of companies and assets and to give the board of directors increased room for maneuver and the opportunity to adapt and improve the company’s capital structure.

Item 18: Resolution on authorization for the board of directors regarding repurchase and transfer of series B shares in the company 
The board of directors proposes that the annual general meeting resolves to authorize the board of directors, at one or several occasions, during the time up until the next annual general meeting, to resolve on repurchase and transfer of series B shares in the company. Repurchase of series B shares may be made of a maximum number of shares so that the company’s shareholding does not, at each time, exceed ten (10) percent of all outstanding shares in the company. Repurchase of series B shares on Nasdaq Stockholm may be made at a price per share that does not exceed the higher of the most recent independent trade and the highest current independent bid on the trading venue where the purchase is carried out, or otherwise on the terms and conditions determined by Nasdaq Stockholm. The company may however assign a stock exchange member to accumulate a certain amount of the company’s own series B shares by proprietary trading during a certain time period and on the day of delivery pay the volume weighted average price for the market as a whole for such period of time, even if the volume weighted average price falls outside the range of prices on the day of delivery. Acquisitions may not be made at a price lower than the lowest price at which an independent trade can be made. Payment of the series B shares shall be made in cash.

Transfer of series B shares may be made of the total number of shares held by the company from time to time. Transfer may be made with deviation from the shareholders’ preferential rights on Nasdaq Stockholm. Transfer may also be made to third parties in connection with acquisition of companies, operations, or assets. Transfer of series B shares on Nasdaq Stockholm may only be made at a price per share within the registered price interval of the company’s share at the time, or otherwise in accordance with applicable regulations, and if the transfer is made in another way, at a price corresponding to prices in money or value of property received that corresponds to the price of the company’s series B share at the time of the transfer of the shares being transferred with the deviation considered appropriate by the board of directors. Transfer in connection with acquisitions may be made at a market value assessed by the board of directors. Payment for transferred series B shares can be made in cash, through an issue in kind or set-off.

The purpose of the authorizations is to give the board of directors the opportunity to continuously adapt the company’s capital structure and thereby contribute to increased shareholder value, to be able to exploit attractive acquisition opportunities by fully or partly financing future acquisitions of companies, operations, or assets with the company’s own shares, and for financing and/or securing the delivery of series B shares in long-term incentive programs approved by the general meeting.

Item 19: Resolution on (A) reduction of the share capital by way of cancellation of own shares, and (B) increase of the share capital by way of bonus issue
A. Reduction of the share capital by way of cancellation of own shares
The board of directors proposes that the annual general meeting resolves to reduce the share capital by way of cancellation of 16,274,926 own series B shares that have been repurchased by the board of directors based on the authorization given at the annual general meeting in 2025. Through the reduction, the share capital is reduced by SEK 35,194.823547. The purpose of the reduction is allocation to unrestricted equity.

B. Increase of the share capital by way of bonus issue
To restore the share capital after the proposed reduction of the share capital set out in A above, the board of directors proposes that the annual general meeting simultaneously resolves to increase the share capital by SEK 35,194.823547 through a bonus issue, by transferring the same amount from the company’s unrestricted equity without the issuance of new shares. 

The board’s report in accordance with Chapter 20, Section 13 of the Swedish Companies Act (2005:551)
In accordance with Chapter 20, Section 13 of the Swedish Companies Act, the board of directors reports as follows. The resolution to reduce the company’s share capital by cancellation of own series B shares according to item A can be carried out without authorization from the Swedish Companies Registration Office (Sw. Bolagsverket) or a general court, since the company at the same time carries out an equal increase of the share capital through a bonus issue in accordance with to item B above. Thus, the company’s restricted equity and share capital will remain unchanged. 

The board of directors’ proposal in accordance with item A and B above shall be resolved upon as one resolution by the annual general meeting.

Particular majority requirements
For valid resolutions on the proposals pursuant to items 17-19, the proposals have to be supported by shareholders representing at least two thirds of the votes cast as well as of all shares represented at the annual general meeting.

Information at the annual general meeting
The board of directors and the chief executive officer shall at the annual general meeting, if any shareholder so requests and the board of directors believes that it can be done without significant harm to the company, provide information regarding circumstances that may affect the assessment of items on the agenda, circumstances that can affect the assessment of the company’s or its subsidiaries’ financial position and the company’s relation to other companies within the group.

Financial statements and complete proposals
Financial statements, the audit report, the board of directors’ remuneration report, the statement by the auditor on the compliance of the applicable guidelines for remuneration to senior executives as well as the complete proposals for resolutions with ancillary documents pursuant to the Swedish Companies Act, will be available for the shareholders at the company’s office at Mäster Samuelsgatan 56, SE-111 21 Stockholm, Sweden, and at the company’s website (corporate.truecaller.com/governance/general-meetings) as from no later than three weeks prior to the annual general meeting. Copies of the documents will be sent to the shareholders upon their request to the company, provided that such shareholders state their address, and will also be made available at the annual general meeting.

Number of shares and votes in the company
The total number of shares in the company amounts to 353,790,721, of which 46,783,800 are series A shares with ten votes per share, 301,993,135 are series B shares with one vote per share and 5,013,786 are series C shares with one vote per share. The number of votes in the company amounts to 774,844,921. As per the date of the notice to the annual general meeting, the company holds 22,274,926 series B shares and 5,013,786 series C shares, that cannot be represented at the meeting.

Processing of personal data
For information on how your personal data is processed, see 
https://www.euroclear.com/dam/ESw/Legal/Privacy-notice-bolagsstammor-engelska.pdf.  

____________________

Stockholm in April 2026

Truecaller AB (publ)

The Board of Directors

For more information, please contact:
Andreas Frid, Head of IR & Communication

+46 705 290800
andreas.frid@truecaller.com

This information was submitted for publication, through the agency of the contact person set out above, at the time stated by the company’s news distributor, Cision, at the publication of this press release.

About Truecaller:
Truecaller (TRUE B) is the leading global platform for verifying contacts and blocking unwanted communication. We enable safe and relevant conversations between people and make it efficient for businesses to connect with consumers. Fraud and unwanted communication are endemic to digital economies. especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for almost 500 million active users. Truecaller is listed on Nasdaq Stockholm since 8 October 2021. For more information please visit corporate.truecaller.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/truecaller-ab/r/notice-of-annual-general-meeting-in-truecaller-ab,c4337275

The following files are available for download:

https://mb.cision.com/Main/20429/4337275/4046504.pdf

Notice of Annual General Meeting 2026

View original content:https://www.prnewswire.com/news-releases/notice-of-annual-general-meeting-in-truecaller-ab-302747382.html

SOURCE Truecaller AB

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Blooming Health Announces Third Annual “Blooming Day” to Advance the Future of Outcome-Driven Health Related Social Care

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Hosted in NYC, the national convening will unite healthcare leaders, government officials, innovators, and community partners to address systemic challenges and drive change

NEW YORK, April 20, 2026 /PRNewswire-PRWeb/ — Blooming Health, the outcomes infrastructure platform powering the coordination and navigation of health-related social needs, today announced its third annual “Blooming Day”, taking place on May 12, 2026, at Lavan Midtown in New York City.

Blooming Day is about bringing together the leaders who are not just talking about access – but actively building systems that ensure coordination happens, gaps are closed, and outcomes improve.

This year’s event marks growth in both theme and focus. Building upon the event’s theme, Access to Care, Blooming Day 2026 will convene leaders across healthcare, government, and community organizations to address a more fundamental challenge: how to reliably deliver better health outcomes at scale in a system where the majority of outcomes are driven and the majority of barriers are faced by non-medical needs.

As healthcare shifts toward outcome-based models, organizations are increasingly responsible for factors they cannot solve through clinical care alone. Blooming Day will focus on how the industry can move from fragmented, manual coordination efforts to systems that ensure needs are identified, addressed, and resolved – consistently and measurably at scale.

Confirmed speakers include:

Andy Slavitt, Former head of CMS and Town Hall Ventures cofounderChirlane McCray, Writer, Activist, Former First Lady of NYCShawyn Patterson-Howard, Mayor of Mt. Vernon, NYKevin Fiori, MD, MPH, Vice Chair, Community Health & Engagement, Montefiore Health SystemAmie Parikh, CEO, Hudson Valley Care CoalitionMatilde L. Roman, Esq., SVP, Chief Inclusion and Impact Officer, Westchester Medical CenterElizabeth Hall, LCSW, Vice President, Health Equity, Quality and Accreditation, AmeriHealth CaritasDomonic Hopson, MD, CEO, Neighborhood Family PracticeMichael Hancock, Former Mayor of DenverCelina Sullivan, Senior Director, Program Management, Kaiser PermanentePamela Mattel, CEO, Coordinated Behavioral CareDeborah Brown, SVP & Chief External Affairs Officer, NYC Health + HospitalsZachariah Hennessey, Chief Strategy Officer at Public Health SolutionsAndrew Mendenhall, MD, DABFM, DABPM, FASAM, President and CEO, Central City ConcernDr. Ashwin Vasan, Senior Fellow in the Department of Health Policy and Management, Yale School of Public Health.Diana E. Ramos, MD, MPH, MBA, FACOG, California Surgeon GeneralDr. Chelsea Clinton, Co-founder of Metrodora Ventures

“Healthcare has made enormous progress in clinical care, but we still lack the infrastructure to reliably and consistently address the non-medical needs that drive outcomes,” said Nima Roohi, Co-Founder and CEO of Blooming Health. “Blooming Day is about bringing together the leaders who are not just talking about access – but actively building systems that ensure coordination happens, gaps are closed, and outcomes improve. From solving for Medicaid Redetermination administrative requirements to reduce coverage loss to making sure a patient can show up for their annual check up with a safe transportation ride.”

Blooming Health will showcase its AI-forward solution, the first of its kind in the industry, designed to address social care gaps for millions of patients on its platform. The demonstration will also highlight new product capabilities and partnership announcements.

The event will feature panels, networking, and working sessions focused on:

Proven strategies to reduce care gaps and drive measurable health outcomesNavigating Medicaid redeterminations and the operational realities of the 6-month eligibility cycleAligning healthcare and social care to create coordinated, end-to-end systems of supportScaling outreach, engagement, and care coordination through AI-driven workflowsIntegrating social drivers of health into financial and risk-based care models

Blooming Day 2026 reflects a broader shift in the industry – from fragmented efforts to coordinated systems, and from measuring activity to delivering results. This event is designed not just to spark dialogue, but to catalyze partnerships and approaches that can be implemented in real-world settings.

For more information or to register, please visit:

https://gobloominghealth.com/blooming-day-2026

About Blooming Health

Blooming Health is building the operating system for social care – delivered as outcomes infrastructure. We partner with health plans, providers, and government organizations to detect, engage, coordinate, and resolve health-related social needs at population scale. By combining omnichannel engagement, AI-driven workflow automation, and a national network of community-based organizations, Blooming Health ensures care coordination is not just attempted – but executed reliably.

As healthcare shifts toward outcome-based models, our customers don’t buy software – they depend on Blooming to deliver measurable improvements in access, engagement, and outcomes, and to operate critical parts of their care delivery infrastructure.

Learn more at www.gobloominghealth.com

Media Contact

Jessica DelVirginia, Blooming Health, 1 (646) 397-2640, jdelvirginia@gobloominghealth.com, https://gobloominghealth.com/

View original content to download multimedia:https://www.prweb.com/releases/blooming-health-announces-third-annual-blooming-day-to-advance-the-future-of-outcome-driven-health-related-social-care-302746848.html

SOURCE Blooming Health

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Jenson Cold Storage Selects Made4net WMS to Modernize 3PL Cold Storage

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With Made4net’s Synapse 3PLExpert WMS, the Utah-based provider gains the operational backbone to run high-volume distribution, connect via EDI, and scale B2C fulfillment from a single platform.

TEANECK, N.J., April 20, 2026 /PRNewswire/ — Made4net, a global leader in warehouse management systems (WMS) and supply chain execution software, today announced that Jenson Cold Storage, a Utah-based cold chain logistics provider operating more than 2.5 million cubic feet of temperature-controlled storage across the state, has selected Made4net’s Synapse 3PLExpert WMS to modernize operations and support expanded third-party logistics services.

The new WMS will enable Jenson Cold Storage to deliver full 3PL services, pick-and-pack fulfillment, B2C order processing, EDI integration, and real-time inventory visibility—capabilities increasingly requested by its growing customer base across agriculture, manufacturing, and retail.

Built to set a new standard for regional cold chain logistics, Jenson Cold Storage manages tens of thousands of pallets and SKUs across multiple temperature environments. As demand for temperature-controlled capacity continues to surge nationwide, the company needed a warehouse management system capable of supporting the scale, precision, and operational complexity required in modern cold chain logistics.

“Made4net made the most sense for us because of the control and adaptability it provides across our operations,” said Andrew Street, Manager, Jenson Cold Storage. “Other WMS solutions we evaluated fell short in supporting the level of service and consistency our customers expect.”

With Synapse 3PLExpert, Jenson Cold Storage will gain a centralized platform to manage inventory, orders, and customer integrations while expanding the services it offers clients. A key capability is EDI connectivity, allowing customers to place orders, monitor inventory levels, and access operational data in real time.

“Jenson Cold Storage has built a rapidly growing operation that requires precision, flexibility, and real-time visibility,” said Chipper Farley, President of 3PL Solutions at Made4net. “Synapse 3PLExpert gives them the control and scalability needed to support high-volume cold storage while expanding the services they offer customers.”

Jenson Cold Storage’s growth story began with a simple customer request for off-site storage. What started as a small walk-in cooler to help a customer manage an influx of orders has evolved into a rapidly expanding cold chain operation serving multiple industries and temperature requirements. With Made4net’s WMS now in place, the company is positioned to continue scaling operations while maintaining the customer-first approach that has defined its business for more than three decades.

About Jenson Cold Storage
Jenson Cold Storage is a Utah-based provider of temperature-controlled warehousing and logistics services with more than 30 years of experience in cold chain operations. Operating facilities in Draper and Nephi, the company manages over 2.5 million cubic feet of storage across multiple temperature environments and serves customers across agriculture, manufacturing, retail, and other industries. For more information, visit www.jensoncold.com.

About Made4net
Made4net is a global leader in WMS (warehouse management system) and supply chain execution software, delivering best-in-class, cloud-based WMS and 3PL WMS solutions. Our adaptable and scalable platform empowers organizations of all sizes to improve efficiency, visibility, and control across their supply chain.

For more information, visit www.made4net.com.

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SOURCE Made4net, LLC

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