Company: OWLS
Filing Date: 2025-08-01
Form Type: DRS/A
Source: 0000950123-25-006894
Chunk: 23

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-08-01
Form: DRS/A
Chunk 23
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Our consolidated financial statements
have been prepared in accordance with IFRS Accounting Standards (“IFRS”), as issued by the International Accounting Standards Board (“IASB”), and include the accounts and operations of the Company and all of the entities in which
the Company has a controlling financial interest and are presented in U.S. dollars. Our historical results are not necessarily indicative of results expected for future periods. You should read this Summary Consolidated Financial Data and Operating
Data section together with our consolidated financial statements and the related notes and “Management’s Discussion and Analysis of Financial Condition and Results of Operations” included elsewhere in this prospectus.

The following is a summary of our business operations:

Overview of Business Segments

Our
business operations consist of the main business segments, including:

Payment services. We offer payment services through
OwlPay. As of December 31, 2024, our payment service revenue was entirely generated from OwlPay Payment under OwlPaysuite which includes our operations in: (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 3,901 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