Company: OWLS
Filing Date: 2025-09-03
Form Type: F-1
Source: 0001193125-25-195057
Chunk: 148

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-03
Form: F-1
Chunk 148
---
 lower average monthly salary expenses, even though the number of employees returned to previous levels by year-end.

General and administrative

Our general and administrative expenses increased from US$3.36 million for the year ended December 31, 2023 to US$5.23 million for the
year ended December 31, 2024, due to (i) an increase in legal and professional service fees from US$687,299 for the year ended December 31, 2023 to US$1,887,362 for the same period in 2024; and (ii) an increase in depreciation expense from
US$254,973 for the year ended December 31, 2023 to US$376,346 for the same period in 2024, related to the new lease contract for the Company’s new headquarters in Taiwan, which has a term of five years.

Research and development

Our research and development expenses increased from US$2.23 million for the year ended December 31, 2023 to US$2.57 million for the year
ended December 31, 2024, due to the investment in enhancing the system performance of cloud service and the price increase by the cloud service providers.

98

Interest Income

Our interest income decreased from US$96,575 for the year ended December 31, 2023 to US$75,103 for the year ended December 31, 2024,
due to a higher level of capital raised through private placement in 2023 compared to 2024, which led to a higher cash balance, resulting in higher interest income for that period.

Foreign Currency Exchange Gains / Losses

Since we operate with multiple functional currencies, foreign exchange gains and losses on monetary items are disclosed in aggregate. For the
year ended December 31, 2023 and 2024, foreign exchange gain (loss) (including both realized and unrealized portions) amounted to US$(71,170) and US$(1,046,680), respectively. Our operations are primarily denominated in NTD, while our
consolidated financial statements are presented in U.S. dollars. The increased volatility in the NTD-to-U.S. dollar exchange rate during the year ended December 31, 2024, compared to the same period in 2023, led to higher foreign currency
exchange losses in 2024.

Loss on Financial Liabilities at FVTPL

Our loss on financial liabilities at FVTPL increased from US$143