Company: KNRX
Filing Date: 2025-03-05
Form Type: F-1/A
Source: 0001493152-25-009104
Chunk: 94

Company: KNOREX LTD.
Filing Date: 2025-03-05
Form: F-1/A
Chunk 94
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 our or our subsidiaries’ functional currency.                                                                |
| ● | Other                                                                                                                                 
 income, net. Our other income decreased from approximately US$117,000 for the six months ended June 30, 2023 to approximately         
 US$5,000 for the six months ended June 30, 2024, primarily due to the decrease in government grant we received.                       |

| 49 |

Provision for income taxes.Our provision for income taxes increased from approximately US$3,000 for the year ended June 30, 2023 to approximately US$16,000 for the six months ended June 30, 2024, resulted from the increase in our net income before tax from our profitable subsidiaries in 2024 as compared to the same period in 2023.

Net loss. As a result of the foregoing, our net loss was US$2.9 million for the six months ended June 30, 2024 and US$3.8 million for the year ended June 30, 2023.

Year ended December 31, 2023 compared to year ended December 31, 2022

Revenue. Our revenue increased by 38.1% from US$6.3 million for the year ended December 31, 2022 to US$8.7 million for the year ended December 31, 2023, primarily due to the increase of US$3.1 million in our revenue generated from our U.S. operation from US$5.4 million in 2022 to US$8.4 million in 2023, which is slightly offset by the decrease of US$0.7 million of our revenue generated from our international operation from approximately US$0.9 million in 2022 to approximately US$0.3 million in 2023 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 upsell to them.

As we retain