One and One Educational Services sees revenue hike but high streaming costs

 

 


For the six months ended February 28, 2025, One on One Educational Services Limited reported revenue of J$169.9 million, up from J$111.4 million for the similar period in 2024. This represented a 52.5 per cent increase over the comparative period, which management said was primarily due to the expansion of One Academy, which provides personalized educational solutions for schools, teachers and students.

Additionally, the company retained its core annual recurring business from existing contracts.

For the second quarter of 2025, revenue reached J$78.0 million, reflecting a 37.6 per cent increase over the same period in the prior year. Management said that this growth was attributed to the expansion of One Academy and its ability to deliver personalized solutions through advanced technology, enhancing the accessibility and effectiveness of digital education.

Direct costs for the second quarter amounted to J$22.5 million, an increase of J$4.5 million compared to the previous year. This resulted in a gross profit of J$55.5 million, up 43.5 per cent year over-year. The increase in direct costs was primarily driven by expenditures related to One Academy’s live streaming of classes across the island from the company's central studio.

Over the six-month period, direct costs also saw a 45.3 per cent uptick due to one off investments in hosting infrastructure services and the installation of equipment and accessories to facilitate One Academy’s implementation of live classes.

Management commented, “While these expenses have contributed to short-term cost increases, they are a strategic investment aimed at driving long-term value creation.”

For the six-month period, net profit reached J$18.4 million, a strong turnaround from the J$41.4 million net loss over the comparative period.

Total assets grew to J$662.6 million at the end of the six-month period, reflecting an 8.2 per cent increase from J$612.3 million in the prior year. This growth was primarily driven by investments in non-current assets, particularly the development of intangible assets.

Total equity also strengthened, rising to J$423.4 million from J$362.6 million, supported by the company’s improved financial performance. This shift has allowed the company to move from an accumulated deficit of J$51 million to an accumulated surplus of J$9.5 million compared to the previous year. While total liabilities reduced marginally by 3% year over year.

Operating activities generated J$121.5 million in cash flow, while investing activities had reduced outflows. Additionally, financing activities reflected the company’s efforts to pay down loan obligations. These factors contributed to a net cash increase of J$66.7 million, leading to a s closing cash balance of J$110.0 million.

Caribbean Money Daily

Photo: smartframe.io

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