Company: KNRX
Filing Date: 2025-09-22
Form Type: F-1/A
Source: 0001493152-25-014499
Chunk: 87

Company: KNOREX LTD.
Filing Date: 2025-09-22
Form: F-1/A
Chunk 87
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 of the respective year. The advertiser (defined as the Customer’s client) is the end user or ultimate buyer of the advertisement.

(2) Average revenue per customer is calculated as the total revenue for the year divided by the total number of customers for the same year. Our management use this metric as a measure to assess the overall progress and direction of our business, as well as to select and pursue customers who can keep pace with our growth.

Comparison of Results of Operations

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Year ended December 31, 2024 compared to year ended December 31, 2023

Revenue. Our revenue increased by 24.0% from US$8.7 million for the year ended December 31, 2023 to US$10.8 million for the year ended December 31, 2024, primarily due to the increase of US$2.0 million in our revenue generated from our U.S. operation from US$8.4 million in 2023 to US$10.4 million in 2024, which is also attributed by the increase of approximately US$0.1 million of our revenue generated from our international operation from approximately US$0.3 million in 2023 to approximately US$0.4 million in 2024 as we have channeled our focus and our resources to the U.S. market since 2020, and as we continue to sharpen our focus on prospects and customers who fit to our Ideal Customer Profile (ICP).

The increase in our U.S. revenues is mainly due to the increased demand and our strong adoption in the U.S. market, which is our key market of focus while we continue to streamline our customer base in terms of their fit to our ICP. Our data indicates that customers fitting our ICP have significantly increased their usage and advertising spending on our platform, resulting in higher revenue. Additionally, they expand their usage of our platform services when we upsell to them.

As we retain and acquire more customers who fit our ICP, they are committing to longer contract terms and make more extensive use of our XPO platform. Since 2023, we intensified our focus on serving ICP-matching customers, leading to a more targeted customer base. Customer count was 29 as of December 31, 2023 and this has increased to 37 by December 31, 2024. Average revenue per customer was US$300,890 and US$292,187 for the years ended December 31, 2023