Company: NUTR
Filing Date: 2025-08-29
Form Type: 10-Q
Source: 0001641172-25-025984
Chunk: 119

Company: NUSATRIP Inc
Filing Date: 2025-08-29
Form: 10-Q
Item: Item 8
Chunk 119
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 and 98.29% 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 and six months period ended June 30, 2025 was due to higher profit
margin arising from digital marketing business.

Overall
revenue increased for the three months ended June 30, 2025 as compared to June 30, 2024, primarily due to new contracts having been awarded
for online advertisements during such quarter. In addition, Nusatrip’s 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.

42

Sales
and Marketing Expenses (“S&M”). We incurred S&M expenses of $54,363 and $45,214 for the three months ended June
30, 2025 and 2024, respectively. During the six months ended June 30, 2025 and 2024, we incurred S&M expenses of $91,465 and $97,855,
respectively. For the three months ended June 30, 2025, the increase in sales and marketing (S&M) expenses was mainly due to the
expansion of marketing strategies targeting B2B affiliate transactions.

General
and Administrative Expenses (“G&A”). We incurred G&A expenses of $529,977 and $537,755 for the three months ended
June 30, 2025 and 2024, respectively. During the six months ended June 30, 2025 and 2024, we incurred G&A expenses of $1,332,290
and $1,050,705, respectively. The G&A is primarily consisting of the professional costs associated with costs related to business
development, the Company’s business and management meetings and contribute to Company’s business plans. Also, assisting Company
in corporate development by introducing customers or strategic partners to Company to drive business growth etc. The increase was mainly
due to the increase of legal and professional fee of $458,273 and the IT