Technology

111, Inc. Announces Second Quarter 2026 Unaudited Financial Results

Published

1 hour ago

September 17, 2026

Transition from An Asset-Heavy Business Model to An Asset-Light Business ModelOngoing Investment and Adoption of AI Agents Making Workforce Streamlining PossibleNet Revenue of Promotional Products (1) Increased by 121% and Gross Profit Rose by 120% Year-over-YearTotal Marketplace (MP) Service Revenue Increased by 18.2% Year-over-Year for the First Half of 2026Fulfillment Expenses as a Percentage of Revenue Improved by 5 Basis Points Year-over-Year

SHANGHAI, Sept. 17, 2026 /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 second quarter ended June 30, 2026.

Second Quarter 2026 Highlights

Net revenue amounted to RMB2.3 billion (US$339.0 million), representing a 28.3% decrease from RMB3.2 billion in the prior-year quarter. This decline was primarily attributable to the Company’s ongoing strategic transition toward a more asset-light and operationally efficient business model. As part of this initiative, the Company divested several underperforming subsidiaries last year, under which the Company can generate more service-based commission income and reduce operational and capital risks to a certain extent. Total marketplace (MP) service revenue increased by 18.2% year-over-year for the first half of 2026, demonstrating growth of the Company’s marketplace service business and enhanced revenue quality. Through such strategic optimization, the Company continues to pursue further improvements in its profitability and liquidity profile.Net revenue of promotional products amounted to RMB60.7 million (US$8.9 million), representing 121% year-over-year growth, accompanied by an increase of 120% in gross profit. To further diversify the portfolio of such products, the Company has partnered with a growing number of pharmaceutical manufacturers to secure distribution rights for products targeting small and medium-sized chain pharmacies. Among such products, Levofloxacin Tablets (Cravit®) from JNOVA Pharmaceutical (Beijing) Co., Ltd., has already become the flagship offering, whose quarterly sales volume grew from 364,000 boxes to 1,041,000 boxes year-over-year, while the quarterly revenue posted a 157% increase, reaching RMB28.1 million. In addition, other priority products with secured distribution rights like Rivaroxaban Tablets (Pusitong®) from Qilu Pharmaceutical Co., Ltd. and Xinkeshu Tablets from Shandong Wohua Pharmaceutical Co., Ltd. also delivered solid sales performance this quarter, with each reaching 60,000 boxes. These performances underscore the Company’s marketing expertise and has created strong growth momentum for both upstream suppliers and downstream partners.Total operating expenses amounted to RMB155.5 million (US$22.9 million), representing a 16.1% decrease compared to RMB185.3 million in the prior-year quarter. Notably, ongoing investment in and adoption of AI agents have made workforce streamlining possible. As part of organizational initiatives to enhance cost-efficiency, the Company incurred substantial severance costs in the quarter in connection with workforce streamlining primarily within back-end support functions. Excluding the share-based compensation expenses and severance costs, total operating expenses accounted for 4.2% of total GMV this quarter as compared to 4.5% in the prior-year quarter.Fulfillment expenses amounted to RMB63.6 million (US$9.4 million), representing a decrease of 29.5% from RMB90.2 million in the prior-year quarter, outpacing the revenue decline. As a percentage of net revenue, fulfillment expenses improved to 2.76%, compared with 2.81% in the prior-year quarter, reflecting continued enhancement in operational efficiency and disciplined cost management.

(1) Promotional products include the Company’s core promoted pharmaceuticals and those for which the Company has secured distribution rights. All such products have mainstream market positioning and high gross margins.

Mr. Junling Liu, Co-Founder, Chairman, and Chief Executive Officer of 111, commented, “During the second quarter of 2026, we continued to execute our strategic transition toward a more asset-light and platform-oriented operating model. The 18.2% year-over-year increase in total marketplace (MP) service revenue for the first half of 2026 demonstrates steady progress in the strategic initiative and underscores our pursuit of high-quality, scalable and cost-efficient growth. As our ongoing investment in and adoption of AI agents have enabled workforce streamlining, we incurred certain severance costs in the quarter, largely within back-end support functions, as part of efficiency-focused organizational initiatives.”

“Our promotional products have rapidly penetrated pharmacies nationwide via the 111 digital marketing platform, with the product lineup continuously expanding. Net revenue and gross profit from those products delivered high year-over-year growth. A growing number of pharmaceutical companies have partnered with us to secure general distribution rights for products targeting small and medium-sized chain pharmacies. We remain committed to adding more pharmaceutical products such as “Cravit” to our distribution portfolio to consolidate our market standing and maintain steady performance.”

“By optimizing our network and selectively exiting underperforming fulfillment centers, our fulfillment expenses declined by 29.5% year-over-year, outpacing the decrease in revenue. Meanwhile, fulfillment expenses as a percentage of net revenue improved by 5 basis points year-over-year, highlighting our capacity for sustained operational improvement and reflecting our commitment to prudent cost management.”

“Looking ahead, we believe these initiatives are gradually reshaping 111 from a transaction-driven pharmaceutical distributor into a more technology-enabled and intelligent healthcare platform business. We will continue to integrate AI-enabled capabilities across multiple operational scenarios, including intelligent demand forecasting, inventory optimization, fulfillment routing and merchant operation management. More importantly, we are deploying AI agent-based solutions in pharmacies and healthcare service scenarios to help customers better manage day-to-day operations. Leveraging a lean, intelligent operating model, we aim to expand margins, lift profitability and deliver long-term value to stakeholders.”

Second Quarter 2026 Financial Results

Net revenues were RMB2.3 billion (US$339.0 million), representing a decrease of 28.3% from RMB3.2 billion in the same quarter of last year mainly attributable to the strategic optimization.

Gross segment profit (2) was RMB132.3 million (US$19.5 million), representing a decrease of 28.6% from RMB185.4 million in the same quarter of last year.

(In thousands RMB)

For the three months ended June 30,

2025

2026

YoY

B2B Net Revenue

Product

3,122,073

2,220,777

-28.9 %

Service

20,838

21,424

2.8 %

Sub-Total

3,142,911

2,242,201

-28.7 %

Cost of Products Sold (3)

2,970,558

2,120,702

-28.6 %

Segment Profit

172,353

121,499

-29.5 %

Segment Profit %

5.5 %

5.4 %

(In thousands RMB)

For the three months ended June 30,

2025

2026

YoY

B2C Net Revenue

Product

59,584

55,224

-7.3 %

Service

3,265

2,692

-17.5 %

Sub-Total

62,849

57,916

-7.8 %

Cost of Products Sold

49,822

47,143

-5.4 %

Segment Profit

13,027

10,773

-17.3 %

Segment Profit %

20.7 %

18.6 %

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

(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 RMB2.3 billion (US$342.4 million), representing a decrease of 27.5% from RMB3.2 billion in the same quarter of last year, broadly in line with the decline in net revenues.

Cost of products sold was RMB2.2 billion (US$319.5 million), representing a decrease of 28.2% from RMB3.0 billion in the same quarter of last year.
Fulfillment expenses were RMB63.6 million (US$9.4 million), representing a decrease of 29.5% from RMB90.2 million in the same quarter of last year. Fulfillment expenses as a percentage of net revenues accounted for 2.76% this quarter as compared to 2.81% in the same quarter of last year.
Selling and marketing expenses were RMB58.1 million (US$8.6 million), representing a decrease of 12.2% from RMB66.2 million in the same quarter of last year. Excluding the share-based compensation expenses and severance costs, selling and marketing expenses as a percentage of net revenues accounted for 2.4% this quarter as compared to 2.0% in the same quarter of last year.
General and administrative expenses were RMB17.6 million (US$2.6 million), representing a slight increase of 1.1% from RMB17.4 million in the same quarter of last year. Excluding the share-based compensation expenses and severance costs, general and administrative expenses as a percentage of net revenues accounted for 0.6% this quarter as compared to 0.5% in the same quarter of last year.
Technology expenses were RMB19.0 million (US$2.8 million), representing an increase of 28.0% from RMB14.9 million in the same quarter of last year. Excluding the share-based compensation expenses and severance costs, technology expenses as a percentage of net revenues accounted for 0.6% this quarter as compared to 0.5% in the same quarter of last year.

Loss from operations was RMB23.2 million (US$3.4 million), compared to income from operations of RMB0.1 million in the same quarter of last year.

Non-GAAP loss from operations (4) was RMB20.5 million (US$3.0 million), compared to non-GAAP income from operations of RMB3.0 million in the same quarter of last year.

Net loss was RMB31.7 million (US$4.7 million), compared to RMB7.3 million in the same quarter of last year. As a percentage of net revenues, net loss accounted for 1.4% this quarter as compared to 0.2% in the same quarter of last year.

Non-GAAP net loss (5) was RMB28.9 million (US$4.3 million), compared to RMB4.4 million in the same quarter of last year. As a percentage of net revenues, non-GAAP net loss accounted for 1.3% this quarter as compared to 0.1% in the same quarter of last year.

Net loss attributable to ordinary shareholders was RMB39.1 million (US$5.8 million), compared to RMB19.5 million in the same quarter of last year. As a percentage of net revenues, net loss attributable to ordinary shareholders accounted for 1.7% this quarter as compared to 0.6% in the same quarter of last year.

Non-GAAP net loss attributable to ordinary shareholders (6) was RMB36.4 million (US$5.4 million), compared to RMB16.7 million in the same quarter of last year. As a percentage of net revenues, non-GAAP net loss attributable to ordinary shareholders accounted for 1.6% of net revenues this quarter as compared to 0.5% in the same quarter of last year.

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

(5) Non-GAAP net income (loss) represents net income (loss) excluding share-based compensation expenses, net of tax. Considering the impact of accretion of redeemable non-controlling interest for the second quarter 2026, non-GAAP net income (loss) is used as a meaningful measurement of the operation performance of the Company.

(6) 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 June 30, 2026, the Company held cash and cash equivalents, restricted cash and short-term investments totaling RMB381.1 million (US$56.2 million), compared to RMB611.3 million as of December 31, 2025. Amount of RMB956.7 million has been included in the balances of redeemable non-controlling interests and accrued expenses and other current liabilities. This amount is owed to a group of investors of 1 Pharmacy Technology pursuant to equity investments made in 2020, as previously disclosed in the Company’s annual report. To date, 111 had repaid approximately RMB282.2 million to all investors in 1 Pharmacy Technology as a result of the holders exercising their redemption rights. Following further discussions, investors representing 63.8% of the total outstanding principal amount have agreed to further restructure the redemption obligation at extended periods, if the holders exercise their redemption rights. For further details on the terms of 111’s arrangements with these investors, please 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, 2025.

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 (7), as supplemental measures to review and assess its operating performance. The Company defines non-GAAP income (loss) from operations as income 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 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.

(7) Non-GAAP loss per ADS represents net loss, excluding share-based compensation, divided by the weighted-average number of outstanding American Depositary Shares. Each ADS represents twenty Class A ordinary shares.

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 RMB6.7851 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 June 30, 2026.

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

December 31, 2025

June 30, 2026

RMB

US$

ASSETS

Current assets:

Cash and cash equivalents

510,967

295,247

43,514

Restricted cash

50,337

25,859

3,811

Short-term investments

50,031

60,024

8,846

Accounts receivable, net

259,686

183,033

26,976

Notes receivable

58,617

74,785

11,022

Inventories

998,465

896,690

132,156

Prepayments and other current assets

196,756

187,447

27,626

Total current assets

2,124,859

1,723,085

253,951

Property and equipment, net

21,108

20,223

2,981

Intangible assets, net

868

713

105

Other non-current assets

9,285

7,827

1,154

Operating lease right-of-use assets

44,122

37,050

5,460

Total assets

2,200,242

1,788,898

263,651

LIABILITIES, MEZZANINE EQUITY AND SHAREHOLDERS’ DEFICIT

Current liabilities:

Short-term borrowings

187,631

260,000

38,319

Accounts payable

1,282,368

1,084,032

159,767

Accrued expense and other current liabilities

483,676

261,218

38,499

Total current liabilities

1,953,675

1,605,250

236,585

Long-term operating lease liabilities

29,965

21,978

3,239

Other non-current liabilities

2,181

321

Total liabilities

1,985,821

1,629,409

240,145

MEZZANINE EQUITY

Redeemable non-controlling interests

935,917

956,734

141,005

SHAREHOLDERS’ DEFICIT

Ordinary shares Class A

Ordinary shares Class B

Treasury shares

(5,887)

(868)

Additional paid-in capital

3,181,343

3,184,680

469,364

Accumulated deficit

(3,950,384)

(4,026,559)

(593,441)

Accumulated other comprehensive income

72,635

71,449

10,530

Total shareholders’ deficit

(702,234)

(776,257)

(114,406)

Non-controlling interest

(19,262)

(20,988)

(3,093)

Total deficit

(721,496)

(797,245)

(117,499)

Total liabilities, mezzanine equity and deficit

2,200,242

1,788,898

263,651

111, Inc.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

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

For the three months ended June 30,

For the six months ended June 30,

2025

2026

2025

2026

RMB

US$

RMB

US$

Net revenues

3,205,760

2,300,117

338,995

6,735,039

4,661,701

687,049

Operating costs and expenses:

Cost of products sold

(3,020,380)

(2,167,845)

(319,501)

(6,354,564)

(4,403,471)

(648,991)

Fulfillment expenses

(90,202)

(63,607)

(9,375)

(183,768)

(124,831)

(18,398)

Selling and marketing expenses

(66,162)

(58,084)

(8,561)

(134,070)

(116,108)

(17,112)

General and administrative expenses

(17,402)

(17,602)

(2,594)

(35,743)

(30,238)

(4,457)

Technology expenses

(14,869)

(19,027)

(2,804)

(30,328)

(33,413)

(4,924)

Other operating income

3,350

2,804

413

3,674

3,150

464

Total operating costs and expenses

(3,205,665)

(2,323,361)

(342,422)

(6,734,799)

(4,704,911)

(693,418)

Income (Loss) from operations

(23,244)

(3,427)

240

(43,210)

(6,369)

Interest income

1,017

574

2,271

1,307

193

Interest expense

(8,458)

(8,888)

(1,310)

(17,190)

(16,746)

(2,468)

Foreign exchange gain (loss)

273

109

548

Other income (loss), net

(368)

(54)

(347)

(51)

Loss before income taxes

(7,268)

(31,653)

(4,666)

(14,559)

(58,448)

(8,614)

Income tax expense

–

(13)

–

Net loss

(7,265)

(31,653)

(4,666)

(14,572)

(58,448)

(8,614)

Net loss (income) attributable to non-controlling interest

(52)

1,055

155

1,693

1,816

268

Net loss (income) attributable to redeemable non-controlling interest

445

1,871

276

890

3,543

522

Adjustment attributable to redeemable non-controlling interest

(12,677)

(10,407)

(1,534)

(25,209)

(23,086)

(3,402)

Net loss attributable to ordinary shareholders

(19,549)

(39,134)

(5,769)

(37,198)

(76,175)

(11,226)

Other comprehensive loss

Unrealized gains of available-for-sale securities,

–

194

–

310

Realized gains of available-for-sale debt securities

–

(183)

(27)

–

(317)

(47)

Foreign currency translation adjustments

(855)

(577)

(85)

(935)

(1,179)

(174)

Comprehensive loss

(20,404)

(39,700)

(5,852)

(38,133)

(77,361)

(11,401)

Loss per ADS:

Basic and diluted

(2.20)

(4.40)

(0.60)

(4.20)

(8.60)

(1.20)

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

Basic and diluted

173,569,631

176,463,585

173,345,848

176,182,383

111, Inc.

UNAUDITED CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(In thousands)

For the three months ended June 30,

For the six months ended June 30,

2025

2026

2025

2026

RMB

US$

RMB

US$

Net cash (used in) provided by operating activities

(61,410)

(11,436)

(1,685)

51,189

(103,158)

(15,204)

Net cash (used in) provided by investing activities

(223)

(40,855)

(6,022)

(1,311)

(11,505)

(1,695)

Net cash provided by (used in) financing activities

18,673

(2,894)

(427)

(54,308)

(124,919)

(18,411)

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

(774)

(295)

(43)

(804)

(616)

(91)

Net decrease in cash and cash equivalents, and restricted cash

(43,734)

(55,480)

(8,177)

(5,234)

(240,198)

(35,401)

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

556,832

376,586

55,502

518,332

561,304

82,726

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

513,098

321,106

47,325

513,098

321,106

47,325

111, Inc.

Unaudited Reconciliation of GAAP and Non-GAAP Results

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

For the three months ended June 30,

For the six months ended June 30,

2025

2026

2025

2026

RMB

US$

RMB

US$

Income (Loss) from operations

(23,244)

(3,427)

240

(43,210)

(6,369)

Add: Share-based compensation expenses, net of tax

2,867

2,713

400

6,982

3,840

566

Non-GAAP income (loss) from operations

2,962

(20,531)

(3,027)

7,222

(39,370)

(5,803)

Net loss

(7,265)

(31,653)

(4,666)

(14,572)

(58,448)

(8,614)

Add: Share-based compensation expenses, net of tax

2,867

2,713

400

6,982

3,840

566

Non-GAAP net loss

(4,398)

(28,940)

(4,266)

(7,590)

(54,608)

(8,048)

Net loss attributable to ordinary shareholders

(19,549)

(39,134)

(5,769)

(37,198)

(76,175)

(11,226)

Add: Share-based compensation expenses, net of tax

2,867

2,713

400

6,982

3,840

566

Non-GAAP net loss attributable to ordinary shareholders

(16,682)

(36,421)

(5,369)

(30,216)

(72,335)

(10,660)

Loss per ADS: Basic and diluted

(2.20)

(4.40)

(0.60)

(4.20)

(8.60)

(1.20)

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

0.40

0.00

0.80

0.40

0.00

Non-GAAP loss per ADS

(1.80)

(4.00)

(0.60)

(3.40)

(8.20)

(1.20)

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SOURCE 111, Inc.

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September 17, 2026

Starting September 19, fans can compete in new events across both mobile apps, giving them a chance to see the iconic mascots — Duo and Spike — in new settingsBrawl Stars introduces a new 20v1 Boss Fight, giving players the chance to take on increasingly powerful versions of DuoDuolingo launches a streak-based Quest, allowing learners to unlock exclusive rewards, including Spike

HELSINKI, Sept. 17, 2026 /PRNewswire/ — Today, hit mobile game Brawl Stars and the world’s leading mobile learning platform Duolingo debuted a global in-app face-off that brings the beloved green mascots — the Duo Owl and Spike — into each other’s worlds. From September 19 through September 30, Duo takes over Starr Park while Spike turns up inside Duolingo’s lessons, with new events and exclusive rewards.

The announcement follows weeks of the two trading jabs in the comments, a feud that spilled into the streets and the skies. It comes down to two green mascots fighting for the same thing: players’ time. Now the rivalry moves into both apps, putting the fight between Duo and Spike in fans’ hands.

Duo Takes Over Starr Park
Duo arrives in Starr Park as the game’s latest boss, inviting players into class to teach them a lesson… whether they asked for one or not.

Boss Fight: For the first time, players can team up in a 20v1 Boss Fight game mode set inside Duo’s classroom. Players will have to work together to take down increasingly powerful versions of Duo while completing quizzes: those who answer correctly are rewarded, and those who answer incorrectly take damage or are eliminated.Daily Assignments: Alongside the Boss Fight, players can take part in a community-wide event to earn exclusive collaboration rewards. Step into Duo’s classroom to complete a lesson each day, then pass the final exam on the last day to unlock a reward. Misbehave, and detention awaits.

Spike Invades Duo’s Classroom
Spike doesn’t have Duo’s way with words, but he has other ways of encouraging learners to keep their streaks. As Duo wreaks havoc in Starr Park, Spike crosses over into Duolingo, where learners can complete lessons as part of a special limited-time Quest and unlock exclusive rewards along the way.

Streak-Based Quest: Complete daily Duolingo lessons to progress through a special limited-time Quest, giving learners another reason to keep their streaks going while unlocking exclusive crossover rewards.Crossover Rewards: Duo may be taking over Starr Park, but Spike is making himself at home in Duolingo. Learners who finish the challenge unlock Spike in Brawl Stars.

Players can download Brawl Stars on the App Store and Google Play, and Duolingo on the App Store and Google Play to take part in the in-app events.

About Brawl Stars:
Brawl Stars is a fast-paced, team-based mobile game from Supercell where players battle across a variety of maps and game modes, each designed for quick, action-packed play. Featuring a colorful cast of Brawlers with unique abilities, the game has surpassed one billion lifetime downloads since its global launch in 2018, building a passionate worldwide community. Constantly evolving with new characters, features, and ways to play, Brawl Stars continues to push the boundaries of what’s possible in mobile gaming.

About Duolingo:
Duolingo is the leading mobile learning platform globally. Its flagship app has organically become the world’s most popular way to learn languages and the top-grossing app in the Education category on both Google Play and the Apple App Store. With technology at the core of everything it does, Duolingo has consistently invested to provide learners a fun, engaging, and effective learning experience while remaining committed to its mission to develop the best education in the world and make it universally available.

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SOURCE Supercell

Technology

BofA’s CashPro App facilitates more than €100 billion in payments approved European companies

Published

1 minute ago

September 17, 2026

European clients increasingly rely on mobile treasury tools, with payment volumes rising 25% in the first seven months of 2026

Mobile treasury usage has reached mainstream adoption across Europe.Clients increasingly view security and convenience as complementary, not competing, priorities.Direct client feedback continues to guide enhancements to the CashPro® App.

LONDON and BARCELONA, Spain, Sept. 17, 2026 /PRNewswire/ — European companies are increasingly turning to Bank of America’s CashPro App to manage time-sensitive treasury tasks. In the first seven months of 2026, clients in the region used the app to approve more than €100 billion in payments, as transaction volume rose 25% and payment value increased 21%[1].

The shift reflects how mobile access is becoming embedded in corporate treasury workflows, particularly for secure authentication and payment approvals. Bank of America has continued to expand the app’s functionality and simplify its design so treasury teams can complete more tasks securely from a mobile device.

Mobile becomes the preferred way to access CashPro
CashPro mobile token, Bank of America’s mobile authentication solution, replaces the need for a physical token. Together with biometrics, QR Sign-In and push authentication, it enables corporate treasury users to access CashPro and approve transactions securely from their mobile devices.

Across Europe, 74% of CashPro users now choose a CashPro mobile token as their preferred way to authenticate and access the platform, underscoring the growing role of the app in day-to-day treasury management.

“Mobile is an integral part of the daily treasury workflow, giving clients the flexibility to manage critical tasks securely wherever they are,” said Matthew Davies, head of Global Payments Solutions EMEA at Bank of America. “The fact that 74% of CashPro users in Europe now choose the app as their preferred security token demonstrates how firmly mobile has become embedded in day-to-day treasury and cash management.”

Client feedback shapes the payment approval experience
As clients conduct more business through the app, Bank of America recently enhanced the payment approval experience to provide greater visibility into payment details and make approvals more efficient.

The updates were informed by direct input from clients, including those who participate in the bank’s CashPro Boards.

“Moving from a physical token to the CashPro App was a natural step for us,” said Kunwarjit Singh Suri, EMEA Controller at F5 Limited and a member of the bank’s UK CashPro Board. “It gives us the security we need while making it easier to review and approve transactions wherever we are. The new payment approval process is another nice touch making it easier for us to review and approve payments.”

Extending secure mobile access
Bank of America is developing new digital identity verification capabilities for corporate administrators, building on the app’s cybersecurity protections and patented integrated mobile token.

“Clients around the globe have embraced mobile and continue to ask us to expand what they can accomplish through the app,” said Heath Bergman, CashPro App Product Executive at Bank of America. “Their feedback is helping shape our investment as we extend secure mobile access to more treasury workflows.”

Frequently asked questions
Question: What is CashPro?
Answer: CashPro is Bank of America’s flagship digital platform used by more than 35,000 companies around the globe to manage and monitor their payments, deposits, loans and trade transactions. Through a single, unified experience, CashPro connects companies and institutions to one of the world’s largest banking networks – helping them move faster, operate with greater control, and make smarter cash and liquidity decisions globally.

Question: How does CashPro compare against peer offerings?
Answer: For four consecutive years, the CashPro App has been the No. 1 ranked mobile application according to Coalition Greenwich. The broader CashPro platform has also been ranked:

No. 1 (tied) – Overall Leadership in Digital Channels, fourth consecutive yearNo. 1 – Online Portal OverallNo. 1 – Host-to-Host (tied)No. 2 – TMS and ERP integrations

Question: Does CashPro use AI technology?
Answer: Yes. CashPro uses AI technology in the following ways:

CashPro Chat is a virtual assistant built with Bank of America’s AI-driven Erica technology. Clients use the tool to access account information, for transaction tracking and service resolution.CashPro Capital Markets Insights uses an AI-driven algorithm leveraging market variables that produces a TED score – an objective way to quantify the macro backdrop that clients, the debt issuers, are faced with prior to deciding the viability of an investment-grade issuance on a given day.CashPro Forecasting is an AI-driven data intelligence tool that automatically integrates account data and applies machine learning to analyze global cash positions, generate accurate forecasts, and deliver actionable insights—all within minutes.

Question: What is the CashPro Board?
Answer: CashPro Boards are client advisory groups made up of CashPro users from different client segments and geographic regions. Their purpose is to provide feedback that helps shape the future of CashPro development, investment priorities, and user experience.

Question: What is coming to the CashPro App?
Answer: A new digital identity verification experience for corporate administrators is in development. The update will build on the app’s inherent cybersecurity protections and patented integrated mobile token.

Bank of America
Bank of America is one of the world’s leading financial institutions, serving individual consumers, small and middle-market businesses and large corporations with a full range of banking, investing, asset management and other financial and risk management products and services. The company provides unmatched convenience in the United States, serving more than 69 million clients with approximately 3,500 retail financial centers, approximately 15,000 ATMs (automated teller machines) and award-winning digital banking with approximately 60 million verified digital users. Bank of America is a global leader in wealth management, corporate and investment banking and trading across a broad range of asset classes, serving corporations, governments, institutions and individuals around the world. As the #1 small business lender in the United States (FDIC), Bank of America offers industry-leading support to approximately 4 million small business households through a suite of innovative, easy-to-use online products and services. The company serves clients through operations across the United States, its territories and more than 35 countries and/or jurisdictions. Bank of America Corporation stock (NYSE: BAC) is listed on the New York Stock Exchange.

For more Bank of America news, including dividend announcements and other important information, visit the Bank of America newsroom and register for news email alerts.

Reporters may contact

Megan Pearson, Bank of America
Phone: +44 207 995 6977
megan.n.pearson@bofa.com

1 Same Period Previous Year (SPPY)

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Technology

Alternative data budget confidence hits 3-year high while AI returns remain efficiency-led – Neudata’s 2026 industry report

Published

1 minute ago

September 17, 2026

LONDON, Sept. 17, 2026 /PRNewswire/ — Confidence in alternative data budgets has reached its highest level in 3 years, with 97% of data buyers expecting their spend to increase or hold steady over the next 12 months, according to Neudata’s new industry report, The Future of Alternative and Market Data 2026. Now in its third year, the survey tracks how investment firms are budgeting for alternative and market data, adopting AI tools and navigating a fast-changing vendor landscape.

The report is based on 191 responses from data providers and buyers globally – Neudata’s largest sample to date, with responses from quant, multi-strategy, discretionary and macro funds, as well as AI research labs. 60% of buyer respondents manage over $1bn in assets.

Key findings from the report include:

Budget optimism reaches a 3-year high – 97% of data buyers expect their alternative data spend to increase or hold steady in the year ahead, up from 89% last year, the strongest confidence Neudata has recorded in 3years of the survey.AI returns are showing up in efficiency more than performance – 56% of buyers said their firm has measured a tangible return from AI deployment over the past 12 months. Efficiency gains were the most commonly cited form, at 41%, against 17% who credited AI with improving investment performance.MCP access is widely offered but pricing has yet to stabilise – 44% of data providers said they offer access via Model Context Protocol (MCP), and over half of those charge no additional fee.Views on AI’s effect on data quality are divided – 33% of buyers reported a deterioration in the quality of their data sources over the past 1-2 years, and opinion is split on whether AI-generated content is to blame.Signal strength remains the deciding factor – 39% of buyers said the main reason a trial does not lead to a purchase is that the dataset showed no discernible signal, ahead of price at 25%.

Rado Lipuš, CEO and founder of Neudata, commented: “3 years of running this survey show a market with continued confidence in the value of alternative and market data. What’s changing is AI’s role in reshaping that market. Efficiency gains are already well established. What comes next, and what we’re only seeing early signs of, is how AI affects data quality, pricing and whether it can improve investment performance.”

The 2026 edition of The Future of Alternative and Market Data provides essential intelligence for hedge funds, asset managers, data providers and financial institutions navigating spending decisions, AI adoption and vendor strategy over the year ahead.

Download the full report here >

Suggested citation: Neudata’s The Future of Alternative and Market Data report (2026) n=191.

About Neudata

Neudata is an independent alternative and market data intelligence platform that helps institutional investors discover, evaluate and source datasets from third-party providers. For over 10 years, Neudata has provided unbiased research to hedge funds and asset managers, connecting them with data providers through its Scout and Ranger platforms, as well as its global events and 1-to-1 networking programme (AltDating). Neudata also supports corporates with consulting services to help assess, monetise and position their data effectively in the market. For more information, visit www.neudata.co

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SOURCE Neudata