One on One Educational Services irons out artificial intelligence and regional expansion strategies

 

Ricardo Allen, CEO of One-on-One Education Services Limited, indicates that the service has exceeded the 250-school mark across the Caribbean.

One on One operates Learning Management System (LMS) platform targeting governments, enterprises, and individuals.

In its first year since listing the company achieved annual revenue of J$303.3 million, a 13.8 per cent increase from the prior year. Re reduced operating expenses, resulted in a turnaround from mid-year losses to profit of J$940,477.

One Academy, a teacher availability solution (TAS), targets Jamaica's teacher shortage crisis; and educational management information system (EMIS) supports the learning and development needs of students. The company additionally provides online solutions for training employees.

In the company’s annual report Allen outlined, “We have laid the foundation for a significant AI strategy that will transform how customers interact with our services and software across both the K-12 and Corporate divisions. Cost-cutting measures implemented across the company have enhanced operational efficiency, contributing to the reversal of a J$41 million net loss at the end of the first six months.

“We have made significant progress in monetizing our content studio, securing recurring customers and revenue for its increased use. . We are now in over 250 schools Caribbean-wide.”

Incorporated in 2013, One on One was listed on the Jamaica Stock Exchange on September 1, 2022. The company provides online learning solutions and off-the-shelf content across the Caribbean and Latin American region.

For the year ended 31 August 2024 company revenues increased to J$303.3 million. Increase was attributed to the expansion of One Academy, the K-12 education arm. Allen states, “We have also seen growth in our corporate division.”

Direct costs for the year were J$100.7 million, up from J$65.4 million in 2023, primarily due to investments made through the K-12 Division to install technology in schools. This enabled the live streaming of classes region-wide from our central studio, both online via the internet and online through the Classroom in a Box technology.

Revenue for the fourth quarter increased to J$97.0 million, a 119.1 per cent increase compared to the same period last year. The company ended the quarter with a net profit of J$18.1 million compared to a net loss of J$58.8 million for the 2023 quarter .

At the end of the year, total assets increased to J$607.7 million, up from J$514.6 million in the previous year—a growth of J$93.1 million or 18.1 per cent. This increase was mainly due to enhancements to intellectual properties and addition to property, plant, additional and content equipment, including studios and acquired equipment.

 Photo Caption: Photo: One on One Educational Services Limited became the 100th listing on the Jamaica Stock Exchange on Thursday September 1, 2022. 

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