One Great Studio Company Limited

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What it is

One Great Studio is a digital marketing agency operating in Jamaica and the United States, offering services ranging from website and app design to search engine optimisation (SEO), e-commerce, video production, and brand development. It was the first digital service agency to list on the JSE Junior Market.

The company grew from a small two-person design and development studio in the hills of Manchester, Jamaica into a digital-first marketing agency over ten years. Today it operates as a multi-brand group — with four brands: One Great Studio, High Voltage SEO (HVSEO), DRT Communications, and Snapsites.

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Who owns it

The company was co-founded by Djuvane Browne and Gina DeLisser. Together they bring over three decades of combined experience in technology and design.

Exact founding-shareholder ownership percentages are not disclosed in available sources.

The 2023 IPO was 61% oversubscribed and attracted over 3,600 applications. The company raised JMD 338.63 million (US$2 mn) in that offering.

Barita Investments Limited, the Jamaican financial services firm, exercised a prior share-option agreement to take shares in 1GS ahead of the listing.

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Who runs it

Djuvane Browne remains CEO of 1GS. Gina DeLisser serves as COO, and Rachel Browne holds the combined role of Non-Executive Director and Company Secretary — she was a founding-era board member from 2012.

CFO and board chair names are not disclosed in available sources. The board consists of seven directors in total: six described as experienced and one as highly experienced.

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The money, in plain words

In its most recent audited year — ended December 31, 2025 — 1GS grew revenue by 10% to JMD 376 million (USD 2.41 million). But the auditors flagged a material decline in the SEO business line driven by AI-powered search results and shifting user behaviour — meaning clients paid less for ranking services that Google was increasingly doing itself — and costs outran income, producing a net loss for the year.

The year before tells the base story more cleanly: in FY 2024, revenue was JMD 342.32 million (USD 2.19 million), down 26% from 2023’s record. Net profit came to JMD 35.68 million (USD 0.23 million), a 55% fall.

That left a net profit margin of 10.4% — decent for a small services firm, but less than half the 17% margin earned in 2023 (our calculation). Shareholders’ equity stood at JMD 609 million (USD 3.90 million), giving a book value of JMD 0.36 (US$0.00)per share.

The balance sheet is conservatively run: at the end of FY 2023 there was only JMD 23.4 million (US$150 k) in debt against JMD 592 million (US$4 mn) in equity, and operating cash flow was JMD 117 million (US$748 k). The return owners earned on their money in FY 2024 — the return on equity — was 5.9%, modest but positive in a transition year (our calculation).

The stock traded at JMD 0.51 (US$0.00)at end of February 2025, implying a price-to-earnings ratio of about 24 times — a market willing to pay for a growth story, even as profits dipped. The board approved an interim dividend of JMD 0.012 (US$0.00)per share in March 2024.

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What it is doing now

In February 2025, CEO Djuvane Browne completed the buyout of DRT Communications — 1GS’s second acquisition since listing. The deal cost up to JMD 115 million (US$736 k), structured as JMD 80 million (US$512 k) in cash plus a performance-linked earn-out of up to JMD 35 million (US$224 k).

It added public relations and media monitoring, plus 20 new clients.

By the second quarter of 2025, the group had reversed an operating loss and returned to operating profitability. Q1 2026 continued the momentum: revenue rose 34% year-over-year to JMD 102 million (US$652 k), and net profit recovered to JMD 15 million (US$96 k), versus a JMD 13 million (US$83 k) loss in Q1 2025.

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What to watch

• SEO vulnerability. Recurring retainer revenue — the stable, contracted kind — slipped from 82% to 72% of total income in FY 2025. Reversing that slide is the clearest near-term test of the strategy.
• House-of-brands execution. Administrative expenses nearly doubled to JMD 140 million (US$895 k) in FY 2025 from JMD 87 million (US$556 k) the year before. The shared-services model needs to show cost discipline as it scales.
• Geographic shift. By Q2 2025, 67% of revenues came from the Caribbean — a reversal from 2023, when over 80% came from outside Jamaica. Growth from North America and Europe will determine whether the model can move beyond a regional niche.
• More acquisitions. Management has signalled it will selectively add new brands, with further ideas already being assessed. Each deal adds capability but also integration risk in a thin-margin business.

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This is news, not investment advice.