Company: OWLS
Filing Date: 2025-02-07
Form Type: DRS/A
Source: 0000950123-25-001222
Chunk: 144

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-02-07
Form: DRS/A
Chunk 144
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 as a result of the challenges in controlling the quality and
schedule of imported fruits.

Others

External revenue from other services decreased from US$19,729 for the nine months ended September 30, 2023 to US$4,931 for the nine months
ended September 30, 2024, due to our discontinuation of our NFT-related services in 2024 as a result of the numerous controversies surrounding NFT transactions and unclear regulations.

Cost of Revenue

Our cost of revenue increased from US$3.9 million for the nine months ended September 30, 2023 to US$4.8 million for the nine months ended
September 30, 2024, primarily due to recognition of costs of revenue for full nine months in 2024 of the payment gateway company, PayNow, which we acquired in May 2023.

Operating Expenses

Marketing and sales

Our
marketing and sales expenses decreased from US$1.88 million for the nine months ended September 30, 2023 to US$1.85 million for the nine months ended September 30, 2024, due to our adjustments and termination of channel partners in hope of
achieving better advertising effectiveness.

General and administrative

Our general and administrative expenses increased from US$2.3 million for the nine months ended September 30, 2023 to US$3.3 million for the
nine months ended September 30, 2024, due to (i) an increase in legal and professional service fees from US$466,099 for the nine months ended September 30, 2023 to US$1,311,277 for the same period in 2024; and (ii) an increase in depreciation
expense from US$163,977 for the nine months ended September 30, 2023 to US$253,977 for the same period in 2024, related to the new lease contract for the Company’s new headquarters in Taiwan, which has a term of five years.

101

Research and development

Our research and development expenses increased from US$1.6 million for the nine months ended September 30, 2023 to US$1.9 million for the nine
months ended September 30, 2024, due to the investment in enhancing the system performance of cloud service and the price increase by the cloud service providers.

Interest Income

Our interest income decreased from US$52,419 for the nine months ended September 30, 2023 to