Company: OWLS
Filing Date: 2025-02-07
Form Type: DRS/A
Source: 0000950123-25-001222
Chunk: 146

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-02-07
Form: DRS/A
Chunk 146
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 to a one-time settlement of a payable in 2023, resulting in an increase in other income for that period as the associated obligation was eliminated.

Finance Costs

Our
finance costs decreased from US$104,849 for the nine months ended September 30, 2023 to US$103,001 for the nine months ended September 30, 2024, due to lower interest expense resulting from a decrease in the loan principal over the period.

102

Total Comprehensive Loss As a result of the foregoing, our total comprehensive loss increased from US$4.9 million for the nine months ended September 30, 2023 to US$6.3 million for the nine months ended September 30, 2024. Comparison of the Years Ended December 31, 2022 and December 31, 2023 Revenue Our revenue increased from US$3.8 million in 2022 to US$6.4 million in 2023, primarily due to the increase of revenue generated from our payment services as a result of acquisition of the payment gateway company, PayNow, in May 2023. We have recognized revenue from each service line for the years ended December 31, 2022 and December 31, 2023 as follows.

|                                             |     | Revenue for the year ended December 31, 
 2022                                    |           |     | 2023(1) |           |
|:--------------------------------------------|:----|:----------------------------------------|----------:|:----|:--------|----------:|
|                                             |     | US$                                     |           |     | US$     |           |
| Payment services                            |     |                                         |         0 |     |         | 2,465,859 |
| Hospitality services                        |     |                                         |           |     |         |           |
| Hospitality-related software services       |     |                                         |           |     |         |           |
| OwlNest property management system          |     |                                         |           |     |         |           |
| Subscription fees                           |     |                                         |   554,366 |     |         |   729,202 |
| Commission fees                             |     |                                         |         0 |     |         |     8,956 |
| OwlNest add-on room fee collection services |     |                                         |   326,420 |     |         |   408,292 |
| Hospitality-related platform services       |     |                                         |           |     |         |           |