q3 RESULTS Highlights
Quarter Ending September 30, 2024
Our strategic initiatives and unwavering operational focus are beginning to yield positive results. Despite facing challenges, our dedicated management team remains committed to operational excellence, ensuring superior client service and the continuous enhancement of shareholder value.
Income Statement Highlights
For the quarter ended September 30, 2024, One Great Studio (1GS) reported $86.1 million in revenues, with net profits of $7 million. While year-over-year revenues have decreased, we are observing signs of stabilization in the SEO business segment quarter-over-quarter. The team’s proactive strategies to adapt to the changing technology landscape are showing positive results.
| JMD (millions) | 9M 2023 | 9M 2024 | Q3 2023 | Q3 2024 |
|---|---|---|---|---|
| Revenue | 362 | 261 | 126 | 86 |
| Operating Profit | 126 | 29 | 45 | 7 |
| Net Profit | 77 | 31 | 27 | 7 |
$261.5M
YTD
Revenue
$30.6M
YTD Net
Profit
11.3%
YTD Operating
Margin
11.7%
YTD Net Profit
Margin
Balance Sheet Highlights
The company reported total assets of $655.4 million, down from $663.9 million at the end of Q3 2023. Total equity increased by $14 million, or 2.4%, while total liabilities fell significantly by $22.5 million, or 30.2%.
| JMD (millions) | 2023 | Q3 2023 | Q3 2024 |
|---|---|---|---|
| Total Assets | 649 | 664 | 655 |
| Total Liabilities | 57 | 75 | 52 |
| Total Debt | 23 | 24 | 16 |
| Total Equity | 592 | 589 | 603 |
J$655M
Total Assets
J$603M
Total Equity
7.02x
Cash Ratio
Credit Quality, Liquidity, & Cashflow
At the end of the period, our cash resources (cash and investment) totalled $244 million. Our balance sheet currently shows only $16 million in debt, reduced from $24 million at the same time last year.