On March 17, 1 pharmaceutical network (NASDAQ: Yi) released the fourth quarter and full year performance report of 2021. In 2021, 1 pharmaceutical network achieved an annual revenue of 12.4 billion yuan, a year-on-year increase of 52%, breaking the revenue scale of 10 billion yuan for the first time. By the fourth quarter of 2021, the single quarter revenue of 1 pharmaceutical network has reached a record high, reaching 3.46 billion yuan, realizing rapid growth for 14 consecutive quarters. The management of the company said that it aims to achieve a single quarter profit and loss balance at the operational level of non GAAP in 2022.
As China's first internet pharmaceutical enterprise listed on NASDAQ in the United States, the performance of 1 pharmaceutical network has shown double "high" performance of "high speed" and "high quality" growth in the past four years. According to the financial report, the annual revenue of 1 pharmaceutical network in 2021 was 12.4 billion yuan. Compared with the revenue scale of 959 million yuan in 2017, the revenue scale surged nearly 13 times.
While the scale of revenue increased rapidly, benefiting from the effectiveness of long-term strategic planning, 1 pharmaceutical network made pioneering progress in supply upgrading, diversified services, cost reduction and efficiency, and significantly optimized the profit structure. In the fourth quarter of 2021, the gross profit of 1 pharmaceutical network increased by 98% year-on-year, three times the growth rate of revenue in the same period. The company achieved a total gross profit of 620 million yuan in the whole year, an increase of 70% year-on-year.
In addition, the loss level of 1 drug network is also narrowing significantly. In the fourth quarter of 2021, the ratio of non GAAP operating loss to net income decreased to 2.2% from 4.2% in the same period last year, setting a record high. Driven by the continuous expansion of revenue scale, continuous improvement of profit structure, cost reduction and efficiency increase, 1 pharmaceutical network is expected to achieve another operating milestone this year after breaking through 10 billion revenue last year and achieve profit and loss balance at the operational level of non GAAP in a single quarter.
