Company: OWLS
Filing Date: 2025-09-24
Form Type: F-1/A
Source: 0001193125-25-213968
Chunk: 52

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-24
Form: F-1/A
Chunk 52
---
 in this effort, our business, financial condition and results of operations may be adversely
affected.

Our reputation or brand could be damaged or diminished in various ways, including from unsuccessful new products and services;
decisions regarding user privacy, data practices and information security; scrutiny or criticism from customers, collaborators, employees, government entities, media, advocacy groups, and other influencers or stakeholders; attacks from our
competitors; negative publicity or reviews; or legal proceedings or investigations. Our brand could also be harmed by inadequate protection or misuse of sensitive information; fraud committed by third parties using our products or services;
compliance failures and claims; incorrect or false content posted by third parties

36

on our platforms, errors caused by us or our collaborators or third parties utilizing our platforms; and misconduct by our collaborators, service providers or other counterparties. Any negative
publicity about the industries we operate in or are associated with, including the blockchain economy, could also adversely affect our brand or reputation even if the negative publicity or commentary is not directly related to us. If our brand or
reputation is damaged or diminished in any of the foregoing ways, our business and operating results may be adversely impacted.

Risks Related to Our Financial Results

We have incurred operating losses in the past and we intend to continue to invest in our business. Thus, our ability to achieve or maintain profitability in the future is uncertain.

We recorded net losses of US$6.8 million in 2023 and US$10.3
million in 2024. Our future profitability depends on various factors that are beyond our immediate control. Our operating expenses will likely increase as we continue investing in our business and after we have become a public company.

We intend to continue making investments in our business, including expending resources on developing new products and services; international
expansion into additional markets; sales and marketing; infrastructure; attracting and retaining personnel; strategic opportunities, including acquisitions and investments; and general administration, including legal, finance and other expenses
related to being a public company. These investments could increase our expenses but may not lead to a corresponding increase in revenue or business growth. Growth in the number of our users could also result in increased losses, as we incur higher
costs associated with a larger customer base up front but recognize revenue in future periods as our customers use our products and services. Moreover, businesses we acquire may have different profitability than our existing business, including
business generating losses historically, and the synergies with such business acquisitions may not realize in time or at