One Last Time" is a dance-pop song written by David Guetta, Savan Kotecha, Giorgio Tuinfort, Rami Yacoub and Carl Falk, produced by the last four and Ilya. Lyrically, the song is about Grande telling her ex-boyfriend that she needs him and regrets everything she did wrong to him, and even knowing he loves another girl now, she begs for at least just one more night together. She says she regrets being a liar, and tells him she does not mind if he has the other girl in his heart, as long as he wakes up with her and in her arms.