Company: OWLS
Filing Date: 2025-09-03
Form Type: F-1
Source: 0001193125-25-195057
Chunk: 138

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-03
Form: F-1
Chunk 138
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 services, as another area of our overall business development. Since OwlNestis delivered on a SaaS basis, management uses OwlNest’s Annual Recurring Revenue, or ARR, to gain insights into OwlNest’s growth trajectory, revenue potential and operational stability. Additionally, management considers OwlNest’s Dollar-Based Net Retention Rate as a key indicator of OwlNest’s overall revenue growth and customer retention. In tracking OwlNest’s ARR and Dollar-Based Net Retention Rate, management focuses only on the revenues that are contractually committed on a periodic subscription basis, since OwlNest’s transaction volume-based revenues from our alternative fee model on a commission basis or from our add-on room fee collection services are tied to the sales performance of OwlNest’s customers that we could not control. We use also the number of OwlNestSubscribers to assess our ability to acquire new customers. OwlNest’s Annual Recurring Revenue (ARR) OwlNest’s Annual Recurring Revenue, or ARR, is defined as contractually committed recurring OwlNestrevenue from PMS subscriptions, excluding one-time or non-recurring fees, recognized in the last month of the reporting period and calculated on an annualized basis. OwlNest’s ARR also excludes OwlNest’s transaction volume-based revenues from our alternative fee model on a commission basis or from our add-on room fee collection services. OwlNest’s ARR is calculated based on the assumption that any contract expiring in the next 12 months will be renewed at the rate prevailing in the final month of such contract, unless we determine that such contract will be cancelled or reduced, in which case revenue from such contract will be excluded from the calculation. Our calculation of ARR does not give effect to the impact of any anticipated future price increases. OwlNest’s ARR as of December 31, 2024 increased by 25% compared to its ARR as of December 31, 2023, driven by increased spending from OwlNest’s existing customers and our onboarding of new customers. We believe that the growth reflected the build-up of OwlNest’s brand awareness over time and our continued efforts to enhance and develop OwlNest’s features and functionalities, which we view as important factors for achieving widespread adoption of the OwlNestplatform. The type of revenues represented by OwlNest ’s ARR accounted for 24% and 27% out of our total hospitality services revenue for the years ended December 31, 2023 and December 31, 2024 respectively