Company: NUTR
Filing Date: 2025-11-14
Form Type: 10-Q
Source: 0001493152-25-023401
Chunk: 127

Company: NUSATRIP Inc
Filing Date: 2025-11-14
Form: 10-Q
Item: Item 8
Chunk 127
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 higher sales from domestic airlines, particularly Lion
Air. In addition, Nusatrip’s Gross Merchandise Value (GMV) to Agoda increased substantially from USD 5 million in 2024 to USD 117
million in 2025. This growth was achieved by making our selling prices more competitive through partnerships with several new suppliers
who offer better rates.

38

Cost
of Revenue. For the three and nine months ended September 30, 2025, our cost of revenue in respect of software subscription decreased
by $4,279 and $16,469 or 100% to $0, as compared with $4,279 and $16,469 for the three months ended September 30, 2024. The decrease
in cost of software subscription is in line with revenue. No cost of revenue of online advertising revenue was recorded as online advertisement
is shown on our ready/ongoing website and mobile Apps that is not subject to significant direct cost but general IT maintenance cost
which recorded in General and Administrative Expenses.

For
the three and nine months ended September 30, 2024, there is no vendor accounts for 10% or more of the Company’s cost of revenue
as at period-end dates.

Gross
Income. We recorded a gross income of $768,674 and $169,167 for the three months ended September 30, 2025 and 2024, respectively.
During the nine months ended September 30, 2025 and 2024, we recorded a gross income of $2,044,872 and $871,242, respectively. The gross
income is due to increased gross income from revenue from online ticketing and online advertisements. Gross income margin was 100% and
of 97.53% for the three months ended September 30, 2025 and 2024, respectively. During the nine months ended September 30, 2025 and 2024,
our gross income margin was 100% and 98.14%  respectively. Significant high gross profit margin is the nature of our business for
which the majority of the revenue are recognized at net basis, according to agency theory, the cost of purchase is net off in the revenue
against the Gross Merchandise Value (GMV) and the revenue is supported by operating costs. The increase is mainly attributable to the
decrease in cost of revenue for the year ended December 31, 2024. Higher gross margin for the three