Company: KNRX
Filing Date: 2025-09-22
Form Type: F-1/A
Source: 0001493152-25-014499
Chunk: 17

Company: KNOREX LTD.
Filing Date: 2025-09-22
Form: F-1/A
Chunk 17
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 Our customers may have relationships with numerous providers and can use both our platform and
those of our competitors without incurring significant costs or disruption. Our customers may also choose to decrease their overall advertising
spend for any reason. Accordingly, we must continually strive to acquire new customers and retain existing ones, increase their usage
of our platform, and capture a larger share of their advertising spend. However, we may not be successful at training customers, particularly
our newer customers, on how to use our platform to get the most benefit from our platform and increase their usage. If these efforts
are unsuccessful or if our customers decide to halt or reduce their usage of our platform for any other reason, or if we fail to attract
new customers, our revenue could fail to grow or decline, which would materially and adversely harm our business, financial condition,
and results of operations.

In addition, we derive
a substantial part of our total revenues from a limited number of customers. For the year ended December 31, 2024,
one customer accounted for approximately 73.3% of our total revenues. For the year ended December 31, 2023,
three customers accounted for approximately 40.1%, 20.0% and 14.6%, respectively, of our total revenues. Except for these
major customers set forth above, no other customers accounted for more than 10% of our sales during the respective periods.

We cannot assure you that
our customers will continue to use and increase their spending on our platform or that we will be able to attract enough new customers
to continue to grow our business and revenue. If any of our major customers or a substantial portion of our business’s customers
decide to materially reduce or cease their use of our platform, it could have a material adverse effect on our business, financial condition,
and results of operations. Furthermore, we may not be able to replace in a timely manner, or at all, customers who decrease
or cease their usage of our platform with new customers that will use our platform to the same extent.

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We are dependent on a small number of customers, and the loss of business from any significant customer could have a material adverse effect on our revenue.

Our top five customers
accounted for 81.3% and 86.2% of our total revenue for the years ended December 31, 2024, and 2023, respectively. The concentration of
our business with a small number of customers makes us more susceptible to