Company: OWLS
Filing Date: 2025-08-01
Form Type: DRS/A
Source: 0000950123-25-006894
Chunk: 52

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-08-01
Form: DRS/A
Chunk 52
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 factors beyond our control, and we cannot
predict or estimate the amount, timing or nature of any future issuance of debt or shares. As a result, holders of our Class A Common Shares bear the risk of future issuances of debt or shares reducing the value of their securities and diluting
their interests.

A significant amount of our business and revenues is derived from a relatively small number of customers, and the loss of these customers, including a reduction in their transaction volume, could have an adverse effect on our business, operating results and financial condition.

We have a large and diversified customer base; however, a relatively small number of customers, primarily business customers, may account for a
significant amount of our revenues. For example, for the year 2024, our top 10 customers in payment services represent 20% of consolidated revenue. If we fail to retain our large customers and other customers, our business performance could be
adversely impacted and/or experience significant fluctuations. Our customers may seek to alter the existing contractual arrangement during the renewal process, including on price, scope of services, payment terms or volume changes, and there could
be no assurance that we could continue providing products and services for our customers on terms no less favorable than current.

We
may also experience customer attrition as a result of several factors, including business cessation of our customers or switching of services by our customers to our competitors. We cannot predict the level of attrition in the future and our
revenues could decline as a result of higher than expected attrition, especially for any loss of large customers contributing to our revenues, which could have a material adverse effect on our business, financial condition and results of operations.
Should the rate of growth of our customers’ business slow or decline, this could also have an adverse effect on their volume of transactions processed and/or spending on third-party products and services, and therefore an adverse effect on our
results of operations. We may also face price competition as our customers, including any large customers contributing to our revenues, may seek to lower prices or propose different pricing structures that are less advantageous to us. Furthermore,
the business customers that are larger in size are more likely to have arrangements with multiple providers that compete with our products and services, in particular for our payment products and services (primarily to mitigate risks of downtime or
default of any single payments provider). As a result, these customers could shift business away from us to another service provider at any given time without necessarily terminating the contract with us. If we lose any larger