January 15, 2026

One on One Educational Services Limited(ONE)

Unaudited financials for the first quarter ended November 30, 2025:

One on One Educational Services Limited (ONE), for the three months ended November 30, 2025, reported a 9% decline in revenues, totaling $83.19 million, compared to $91.85 million in the corresponding period of 2024. Management attributed the decrease to the non-recurrence of a one-time equipment sale recorded in the prior year.

Direct Costs amounted to $14.80 million (2024: $31.84 million), reflecting a 54% year-over-year reduction. Consequently, gross profit increased by 14% to $68.40 million, compared to $60.00 million for the first quarter ended November 30, 2024.

Other Income rose by 99%, closing at $1.47 million (2024: $739,365), while Administrative Expenses decreased by 10%, falling from $39.56 million in 2024 to $35.78 million in the current period. Additionally, Selling Expenses for the quarter amounted to $5.05 million, representing an 11% increase relative to $4.54 million reported in 2024.

As a result, Operating Profit for the three months ended November 30, 2025, totaled $29.04 million, a 74% increase compared to $16.65 million in the prior year. Finance Costs amounted to $7.09 million, up 46% from $4.85 million in the corresponding period of 2024.

Profit Before Taxation closed at $21.95 million, an 86% increase relative to $11.80 million reported in 2024. The tax charge for the quarter amounted to $622,878 (2024: tax charge of $576,808). As a result, Net Profit, representing total comprehensive income for the three months, stood at $22.57 million, a 101% increase from $11.22 million reported in 2024.

Consequently, Earnings Per Share for the three months amounted to $0.012 (2024: EPS: $0.006). The twelve-month trailing EPS was $0.05 and the number of shares used in these calculations was 1,900,000,000. Notably, ONE’s stock price closed the trading period on January 14, 2026 at a price of $0.90 with a corresponding P/E ratio of 17.58x.

Balance Sheet Highlights

The company’s assets totaled $740.86 million (2024: $620.36 million). The company’s total assets amounted to $740.86 million as of November 30, 2025, compared to $620.36 million in the prior year, reflecting a year-over-year increase of 19% or $120.50 million.

This movement was attributed to:

• Trade and Other Receivables, which increased by $49.91 million to $147.77 million (2024: $97.86 million),
• Intangible Assets, which rose by $62.59 million to $420.63 million (2024: $358.04 million),
• Property, Plant and Equipment, which fell by $7.54 million to $43.84 million (2024: $51.39 million),
• Cash and Bank Deposits, which increased by $28.68 million to $80.73 million (2024: $52.05 million),
• Due from Directors, which remained relatively stable at $24.70 million (2024: $24.44 million).

Inventories fell by $11.12 million to $18.62 million (2024: $29.74 million), and Right-of-Use Assets declined by $2.28 million to $4.56 million (2024: $6.83 million).

Shareholders’ equity stood at $513.52 million (2024: $416.24 million), representing a book value per share of $0.27 (2024: $0.22).

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