Company: KNRX
Filing Date: 2025-06-12
Form Type: F-1/A
Source: 0001641172-25-014801
Chunk: 18

Company: KNOREX LTD.
Filing Date: 2025-06-12
Form: F-1/A
Chunk 18
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 may make our offers less differentiated or competitive in
comparison to other options, negatively impacting our operating results.

Our products and services,
our results of operations and our ability to develop and maintain a competitive advantage and continue to grow could be harmed if we
do not adequately invest in new technology and industry developments or evolve and expand our business at a sufficient speed and scale,
or if we do not make the right strategic investments to respond to these developments and successfully drive innovation.

Our success depends on acquiring new customers, effectively retaining our existing customers and increasing their usage of our platform.

Our success and revenue
growth depend on constantly acquiring new customers and increasing our current customers’ usage of our XPO platform. Our contracts
and relationships with customers generally do not include long-term or exclusive obligations requiring them to use our platform or maintain
or increase their use of our platform. Our customers may have relationships with numerous providers and can use both our platform and
those of our competitors without incurring significant costs or disruption. Our customers may also choose to decrease their overall advertising
spend for any reason. Accordingly, we must continually strive to acquire new customers and retain existing ones, increase their usage
of our platform, and capture a larger share of their advertising spend. However, we may not be successful at training customers, particularly
our newer customers, on how to use our platform to get the most benefit from our platform and increase their usage. If these efforts
are unsuccessful or if our customers decide to halt or reduce their usage of our platform for any other reason, or if we fail to attract
new customers, our revenue could fail to grow or decline, which would materially and adversely harm our business, financial condition,
and results of operations.

In addition, we derive
a substantial part of our total revenues from a limited number of customers. For the year ended December 31, 2024,
one customer accounted for approximately 73.3% of our total revenues. For the year ended December 31, 2023,
three customers accounted for approximately 40.1%, 20.0% and 14.6%, respectively, of our total revenues. Except for these
major customers set forth above, no other customers accounted for more than 10% of our sales during the respective periods.

We cannot assure you that
our customers will continue to use and increase their spending on our platform or that we will be able to attract enough new customers
to continue to grow our business and revenue. If any of our major customers or a substantial portion