Company: KNRX
Filing Date: 2025-09-02
Form Type: F-1/A
Source: 0001493152-25-012564
Chunk: 89

Company: KNOREX LTD.
Filing Date: 2025-09-02
Form: F-1/A
Chunk 89
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serve (includes add-ons) (%)                 |     |                              |    98.3 |     |      |    96.4 |
| Revenue                                                
 from managed activations and professional services (%) |     |                              |     1.7 |     |      |     3.6 |

Notes:

(1) “Customer” refers to any entity that enters into a contract with us, typically an advertising agency or a corporate entity. To be classified as a Customer, the party must have a cumulative contract value exceeding US$3,000 between January 1 and December 31 of the respective year. The advertiser (defined as the Customer’s client) is the end user or ultimate buyer of the advertisement.

(2) Average revenue per customer is calculated as the total revenue for the year divided by the total number of customers for the same year. Our management use this metric as a measure to assess the overall progress and direction of our business, as well as to select and pursue customers who can keep pace with our growth.

Comparison of Results of Operations

| 47 |

Year ended December 31, 2024 compared to year ended December 31, 2023

Revenue. Our revenue increased by 24.0% from US$8.7 million for the year ended December 31, 2023 to US$10.8 million for the year ended December 31, 2024, primarily due to the increase of US$2.0 million in our revenue generated from our U.S. operation from US$8.4 million in 2023 to US$10.4 million in 2024, which is also attributed by the increase of approximately US$0.1 million of our revenue generated from our international operation from approximately US$0.3 million in 2023 to approximately US$0.4 million in 2024 as we have channeled our focus and our resources to the U.S. market since 2020, and as we continue to sharpen our focus on prospects and customers who fit to our Ideal Customer Profile (ICP).

The increase in our U.S. revenues is mainly due to the increased demand and our strong adoption in the U.S. market, which is our key market of focus while we continue to streamline our customer base in terms of their fit to our ICP. Our data indicates that customers fitting our ICP have significantly increased their usage and advertising spending on our platform, resulting in higher revenue. Additionally, they expand their usage of our platform services when we