Company: OWLS
Filing Date: 2025-09-03
Form Type: F-1
Source: 0001193125-25-195057
Chunk: 27

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-03
Form: F-1
Chunk 27
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Nest 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, as of December 31, 2024, increasing from over 2,300 as of December 31, 2023. OwlNest recorded an Annual Recurring Revenue (as defined below) of US$965,630 from its PMS subscriptions as of December 31, 2024, a 25%
increase from that as of December 31, 2023, and achieved a Dollar-Based Net Retention Rate (as defined below) of 108% as of December 31, 2024. Additionally, for clients using the OwlNestplatform as their booking engine, we also provide the
optional add-on room fee collection services to help process room fees payments to

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our clients. 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 83% and 81% for the years ended December 31, 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 2024, we generated revenue of US$7.6 million, reflecting a 18% increase compared to 2023. Such growth as primarily driven by the enhanced performance of our payment services, attributed to the acquisition of the payment gateway company, PayNow, in May 2023. Our net operating loss in 2024 increased to US$8.9 million from US$6.8 million in 2023, primarily driven by increased operating expenses from higher professional service fees related to preparation for the prior attempt of initial public offering and ongoing payment-related license applications. Key recent developments In May 2023, we acquired PayNow, a payment gateway company in Taiwan, for a total cash consideration of US$2.1 million, in order to further supplement our payment services offerings. Since the acquisition, we have been integrating the payment gateway capability within our payment services OwlPay, allowing for a one-stopfull-services payment