One and One Green lifted revenue and profit, but cash use stayed negative

Posted by Stanley Muller on Sep 29th, 2026

What happened

One and One Green Technologies, Inc. (NASDAQ: YDDL) reported $33.38 million in revenue and $4.49 million in net income for the six months ended June 30, 2026. Revenue rose 18.7% from $28.13 million, and net income rose 17.4% from $3.83 million.

Gross profit was $7.25 million, and income from operations was $4.99 million. The company said it closed a follow-on offering of 1,733,333 units on April 13, 2026, and net proceeds from share and warrants issuance were $11.83 million.

Cash and cash equivalents ended at $2.71 million. Net cash used in operating activities was $9.93 million, net cash used in investing activities was $606,169, and net cash provided by financing activities was $11.82 million.

Total assets were $73.15 million, total liabilities were $16.47 million, and total shareholders equity was $56.67 million. The balance sheet also showed 45,829,373 Class A shares and 10,203,960 Class B shares outstanding at June 30, 2026.

Key numbers

Metric	Latest	Change	Source
Revenue	$33.38 million	from $28.13 million, +18.7%	SEC 6-K, Exhibit 99.3
Net income	$4.49 million	from $3.83 million, +17.4%	SEC 6-K, Exhibit 99.3
Gross profit	$7.25 million	from $7.12 million, +1.9%	SEC 6-K, Exhibit 99.3
Income from operations	$4.99 million	from $5.70 million, -12.6%	SEC 6-K, Exhibit 99.3
Net cash used in operating activities	($9.93 million)	from ($1.73 million), -$8.20 million	SEC 6-K, Exhibit 99.1

Why it matters

OptimistFi's case is that YDDL can be attractive only if it keeps scaling profitably and turns reported earnings back into cash. This filing is mixed because revenue and net income rose, but operating cash flow stayed negative. Net cash used in operating activities widened by $8.20 million year over year, to $9.93 million from $1.73 million.

That gap matters because the period still produced $4.49 million of net income while absorbing cash in the core business. Gross profit rose only $132,187 year over year, and income from operations fell $716,876. Operating expenses increased to $2.27 million from $1.42 million, led by general and administrative expense, which rose to $2.05 million from $1.17 million.

Total other income was $1.15 million, which helped pretax income reach $6.13 million. Foreign currency translation reduced total comprehensive income to $3.03 million from $4.53 million. The company also said 2,600,000 Class A ordinary shares issuable upon exercise of outstanding warrants were excluded from diluted EPS because they were anti-dilutive.

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What's next

The next test is whether later periods keep revenue and net income moving higher while operating cash flow improves. If the company can narrow the cash deficit, the filing will look more like profit growth that is reaching the balance sheet. If operating cash stays negative, the case remains tied to financing and not just earnings.

Sources

SEC 6-K, Exhibit 99.1 — unaudited interim condensed consolidated financial statements, cash flow statement and follow-on offering details
SEC 6-K, Exhibit 99.3 — six-month revenue, gross profit, operating income and net income figures

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Originally published on OptimistFi, evidence-first equity research. More at optimistfi.com.