Company: KNRX
Filing Date: 2025-08-21
Form Type: F-1/A
Source: 0001641172-25-025066
Chunk: 108

Company: KNOREX LTD.
Filing Date: 2025-08-21
Form: F-1/A
Chunk 108
---
 the top five customers
contributing approximately 81.3% of the total revenue. For the last two years, we have embarked on the strategic initiative
to evaluate new and existing customers against our ICP profile so that we are channeling our resources towards serving and retaining
such ICP-matching customers. We monitored and observed that customers who fit our ICP are committing to longer contract terms and make
more extensive use of our XPO platform as our value propositions directly appeal to them. Average revenue per customer was US$300,890
and US$292,187 for the year ending December 31, 2023 and 2024, respectively. We expect to see growth in our customer count going
forward as we have concluded our customer review. We believe this initiative will positively impact our long-term success by driving
stronger financial stability and growth. By focusing on profitable ICP-matching customers, we anticipate increased revenue and larger
contract size, with higher lifetime value per customer as they commit to longer and bigger contracts, thus providing us predictable growth
and repeat business. The resulting trust and loyalty will enhance customer retention and satisfaction. Concentrating on such customers
allows for better resource allocation, reduced costs, and improved operational efficiency through better forecasting and planning. Prioritizing
such profitable, long-term customers aligns our interests, enabling us to pursue more innovations, and encourages continuous improvements,
ultimately sharpening our competitive edge and differentiating our business.

Material terms of our agreements with major customers include the following:

| ● | We                                                                                                     
 grant to our customer and its authorized users a limited, revocable, non-exclusive, non-sublicensable, 
 non-transferable license during the applicable subscription term to access and use our XPO             
 platform and its APIs;                                                                                 |
| ● | The                                                                                                    
 customer is responsible for its authorized users’ use of our XPO platform and must                     
 enter into valid, binding agreements with such users that require them to comply with the              
 terms of our customer agreement;                                                                       |
| ● | The                                                                                                    
 customer shall prepay its monthly payment; and                                                         |
| ● | Each                                                                                                   
 customer agreement (with respect to any specific order form) begins on the start date as               
 listed on such order form and will continue until all subscriptions under it have expired              
 or have been terminated. Each subscription term shall automatically renew for an additional            
 period of twelve months unless earlier terminated by either party with thirty days of prior            
 written notice or due to breach of terms of