Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 144

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 144
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 as we recognized full nine months of revenue from the
payment gateway business generated by PayNow, which we acquired in May 2023. The revenue we generated from our payment services for the nine months ended September 30, 2024 consisted of (i) US$2.9 million generated from payment gateway services via
PayNow; and (ii) US$5,633 generated from fiat solutions for domestic and international payout services, a new payment platform service under OwlPaylaunched at the end of 2023.

Hospitality services

A. Hospitality-related software services

External revenue from hospitality-related software services increased from US$839,329 for the nine months ended September 30, 2023, to
US$848,246 for the nine months ended September 30, 2024. The change was attributed to a growth in the number of OwlNestSubscribers, which drove an increase in our external revenue from OwlNestsystem subscription fees from US$503,694
for the nine months ended September 30, 2023 to US$543,698 for the nine months ended September 30, 2024. This was partly offset by a decrease in external revenue from processing service fees, from US$335,635 for the nine months ended September 30,
2023 to US$304,548 for the nine months ended September 30, 2024, which resulted from lower booking amounts and a decrease in the flow of funds processed by the OwlNestsystem as the consequence of an earthquake in Taiwan in April, 2024.

B. Hospitality-related platform services

External revenue from hospitality-related platform services decreased from US$1.5 million for the nine months ended September 30, 2023 to
US$1.2 million for the nine months ended September 30, 2024, primarily due to a reduced amount of tourist activities in Taiwan as the consequence of an earthquake that struck Taiwan in April 2024, which along with subsequent aftershocks severely
impacted eastern Taiwan by damaging transportation routes to the region. These effects led to reduction in booking amounts and external revenue of our hospitality-related platform services for the nine months ended September 30, 2024.

E-commerce platform

External revenue from e-commerce platform service decreased from US$0.7 million for the nine months ended September 30, 2023 to US$0.6 million
for the nine months ended September 30, 2024, primarily due our adjustments to our