Company: KNRX
Filing Date: 2025-09-02
Form Type: F-1/A
Source: 0001493152-25-012564
Chunk: 109

Company: KNOREX LTD.
Filing Date: 2025-09-02
Form: F-1/A
Chunk 109
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 2023 and 2024, respectively. We expect to see growth in our customer count going
forward as we have concluded our customer review. We believe this initiative will positively impact our long-term success by driving
stronger financial stability and growth. By focusing on profitable ICP-matching customers, we anticipate increased revenue and larger
contract size, with higher lifetime value per customer as they commit to longer and bigger contracts, thus providing us predictable growth
and repeat business. The resulting trust and loyalty will enhance customer retention and satisfaction. Concentrating on such customers
allows for better resource allocation, reduced costs, and improved operational efficiency through better forecasting and planning. Prioritizing
such profitable, long-term customers aligns our interests, enabling us to pursue more innovations, and encourages continuous improvements,
ultimately sharpening our competitive edge and differentiating our business.

Material terms of our agreements with major customers include the following:

| ● | We                                                                                                     
 grant to our customer and its authorized users a limited, revocable, non-exclusive, non-sublicensable, 
 non-transferable license during the applicable subscription term to access and use our XPO             
 platform and its APIs;                                                                                 |
| ● | The                                                                                                    
 customer is responsible for its authorized users’ use of our XPO platform and must                     
 enter into valid, binding agreements with such users that require them to comply with the              
 terms of our customer agreement;                                                                       |
| ● | The                                                                                                    
 customer shall prepay its monthly payment; and                                                         |
| ● | Each                                                                                                   
 customer agreement (with respect to any specific order form) begins on the start date as               
 listed on such order form and will continue until all subscriptions under it have expired              
 or have been terminated. Each subscription term shall automatically renew for an additional            
 period of twelve months unless earlier terminated by either party with thirty days of prior            
 written notice or due to breach of terms of the customer agreement.                                    |

Material terms of our agreement with our largest customer, which accounted for 73.3% and 40.1% of our revenue for the years ended December 31, 2024 and 2023, respectively, are summarized as below:

| ● | Platform                                                                                                                             
 use. We grant to our largest customer and its authorized users a limited, non-exclusive, non-sublicensable, non-transferable         
 license during the applicable subscription term to access and use our XPO platform within Territory on a self-serve basis;           |
| ● | Service                                                                                                                              
 scope.