Company: OWLS
Filing Date: 2025-08-01
Form Type: DRS/A
Source: 0000950123-25-006894
Chunk: 124

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-08-01
Form: DRS/A
Chunk 124
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 (i) payment gateway services, enabled by our acquisition of PayNow in May 2023, which offers payment collection functionality to businesses and
proprietors to receive consumer payments; and (ii) payout services that support multiple payout settlement routes in fiat currency or stablecoin. Our business model depends on attracting business customers and individual customers to use our
payment-related products and services, for which we charge fixed-amount, per-transaction handling fees and/or percentage-based transaction fees (e.g., for foreign exchange conversion and conversion between stablecoin and fiat currency). Our payment
services helped process US$218.6 million in GPV (as defined below) in 2024 and registered over 3,900 Active Accounts (as defined below) as of December 31, 2024. Substantially all of the GPV in 2023 and 2024 came from our payment gateway
services enabled by our acquisition of PayNow in May 2023. As of December 31, 2024, the transactions we helped process had been conducted via fiat currency, and we are further rolling out and expanding our payment services with other settlement
routes including via stablecoin.

Hospitality services, including software services and platform services. Our
hospitality-related software services are through OwlNest, a PMS for hoteliers, and our hospitality-related platform services are through OwlJourney and OwlTing Experiences, which are OTA platforms for hoteliers and local
tour guides, and OwlStay, our self-branded offline platform service providing accommodation to travelers. We are primarily focused on growing our hospitality services through the expansion of OwlNest, as we seek to acquire more
subscribers to OwlNestin the international markets and strengthen our SaaS subscription-based revenue sources.

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Success of our OwlNest business depends on our ability to attract hospitality providers to use our software services, for which we charge periodic subscription fees or commissions on
transactions. The number of OwlNest Subscribers (as defined below), which tracks the hospitality providers using OwlNest, reached more than 2,500, as of December 31, 2024, increasing from over 2,300 as of December 31, 2023.
OwlNest recorded an Annual Recurring Revenue (as defined below) of US$965,630 from its PMS subscriptions as of December 31, 2024, a 25% increase from that as of December 31, 2023, and achieved a