Michael Bernard Chairman One on One Educational Services Limited has released the following unaudited financial statements for the second quarter ended 28 February 2026.
The Company delivered a strong performance for the six months ended 28 February 2026, with improved profitability, stronger margins, disciplined cost control, and continued investment in its technology, platform, and product capabilities. During the period, management remained focused on executing core education and government contracts, strengthening platform adoption, enhancing digital infrastructure, and advancing the Company’s longer-term innovation agenda.
Statement of Comprehensive Income Summary
For the six months ended 28 February 2026, revenues amounted to J$165.0 million, compared with J$169.9 million in the corresponding period of the prior year, representing a modest decrease of 2.9%. For the second quarter, revenues totaled J$81.8 million, compared with J$78.0 million in the corresponding quarter of 2025, reflecting an increase of 4.8%. While revenue for the six-month period was marginally lower year over year, the Company continued to benefit from an improved business mix, with greater contribution from higher-margin and platform-based activity. This reflects continued progress in building a more scalable and efficient operating model.
Gross profit for the six months increased to J$133.4 million from J$115.5 million in the prior-year comparative period, an improvement of 15.5%. For the second quarter, gross profit amounted to J$65.0 million, compared with J$55.5 million in the corresponding quarter last year, representing an increase of 17.1%. Gross margin for the six-month period strengthened significantly to 80.9%, up from 68.0% in the corresponding period of 2025. This improvement was supported by a substantial reduction in direct costs, which declined to J$31.5 million from J$54.3 million for the six-month period, a decrease of 42.0%. Direct costs for the second quarter reduced to J$16.7 million from J$22.5 million, a decline of 25.7%. These results continue to demonstrate the scalability of the Company’s platforms and the improving efficiency of its delivery model.
Operating expenses remained well controlled during the first half of the year. Total administrative and selling expenses declined to J$83.8 million from J$88.3 million in the prior-year period, reflecting a 5.1% reduction. For the second quarter, total operating expenses amounted to J$43.0 million, compared with J$44.2 million in the corresponding quarter of 2025, representing a decrease of 2.8%. This disciplined cost management, together with improved gross margins, supported a significant increase in operating profit. For the six months ended 28 February 2026, operating profit rose to J$52.7 million, compared with J$28.5 million in the corresponding period last year, representing an increase of 85.4%. Second quarter operating profit amounted to J$23.7 million, compared with J$11.8 million in Q2 2025, an increase of 100.9%.
Profit before taxation for the six-month period amounted to J$40.3 million, compared with J$19.2 million in the corresponding period of 2025, representing an increase of 109.9%. For the second quarter, profit before taxation was J$18.3 million, compared with J$7.4 million in the prior-year quarter, representing an increase of 148.0%. Net profit attributable to shareholders increased to J$41.2 million for the six months, compared with J$18.4 million in the prior-year comparative period, representing growth of 123.8%. Net profit for the second quarter was J$18.6 million, compared with J$7.2 million in the corresponding quarter of 2025, an increase of 159.4%.
Shareholders’ equity strengthened to J$532.1 million, up from J$423.4 million in the prior-year comparative period and J$490.9 million at 31 August 2025, driven by growth in accumulated surplus and improved profitability. Total liabilities declined during the period, due mainly to lower current liabilities, including reductions in trade and other payables, deferred income, and the elimination of the bank overdraft position that existed at the end of the 2025 financial year.
During the quarter, the Company continued to strengthen its content and platform capabilities through the development of comprehensive online courses, digital instructional support, and customized training solutions. Within the education segment, the Company progressed engagement initiatives linked to the One Academy platform and supported institutions using the platform for live and recorded instruction, assessments, and supplementary learning activities. In parallel, the Company continued to refine internal content production processes, supporting improved turnaround times, greater scale, and stronger responsiveness across the education, public sector, and enterprise markets.
The Company also advanced its proprietary technology agenda during the quarter through the filing of a patent application related to its adaptive learning and AI-enabled assessment architecture. This milestone forms part of management’s broader strategy to strengthen the Company’s intellectual property position, support long-term product differentiation, and create future opportunities for commercialization, platform expansion, and value creation. Management remains focused on building defensible technology assets while deepening adoption of its core platforms and expanding platformed revenues over time.
One on One Educational Services Limited (ONE)-Unaudited Financial Statements for the Second Quarter Ended 28 February 2026
