Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 23

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 23
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ing Experiences, which are
OTA platforms for hoteliers and local tour guides, and OwlStay, our self-branded offline platform service providing accommodation to travelers. We are primarily focused on growing our hospitality services through the expansion of
OwlNest, as we seek to acquire more subscribers to OwlNestin the international markets and strengthen our SaaS subscription-based revenue sources. Success of our OwlNest business depends on our ability to attract hospitality
providers to use our software services, for which we charge periodic subscription fees or commissions on transactions. The number of OwlNest Subscribers (as defined below), which tracks the hospitality providers using OwlNest,
reached more than 2,500,

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as of September 30, 2024, increasing from just over 1,800, as of December 31, 2022. OwlNestrecorded an Annual Recurring Revenue (as defined below) of US$865,097 from its PMS subscriptions as of September 30, 2024, a 34% increase from that as of September 30, 2023, and achieved a Dollar-Based Net Retention Rate (as defined below) of 102% as of September 30, 2024. Additionally, for clients using the OwlNestplatform as their booking engine, we also provide the optional payment processing service to help clients collect room fees on their behalf and disburse the collected funds. We also generate revenues from our OTA platforms for hoteliers ( OwlJourney) and local tour guides ( OwlTing Experiences) and our room accommodation to travelers ( OwlStay). The average room occupancy rate for OwlStaywas 75%, 83%, 82% and 81% for the years ended December 31, 2022 and 2023 and for the nine months ended September 30, 2023 and 2024, respectively. E-commerceplatform. Our e-commerceplatform, OwlTing Market, focuses on sales of agricultural products. Our business model involves sourcing from local producers in Taiwan and connecting these local producers with international customers through our platform. In 2023, we generated revenue of US$6.4 million, reflecting a 70% increase compared to 2022. Revenue for the nine months ended September 30, 2024, increased to US$5.6 million, up from US$4.7 million for the same period in 2023. Such growth across both periods was primarily driven by the enhanced performance of