Company: NUTR
Filing Date: 2025-01-15
Form Type: S-1/A
Source: 0001493152-25-002312
Chunk: 60

Company: NUSATRIP Inc
Filing Date: 2025-01-15
Form: S-1/A
Chunk 60
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%, to $10,493 for the year ended December 31, 2022 from $135,699 for the year ended December 31, 2022 due to the dropping of Vietnam hotel technology platform software service subscription, which earned from local hotel for local cross-border traveler during the COVID19 countries border restriction in year 2022.

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Cost of Revenue

For the year ended December 31, 2023, our cost of revenue for hotel technology platform software service subscription, increased by $41,185 or 3,071.22% to $42,526, as compared to $1,341 for the year ended December 31, 2022. The increase in cost of software subscription was due to the expansion of direct Vietnam IT team and software costs in year 2023. However, the expansion and software cost invested did not bring in expected revenue due to demand drop for local hotel stay after reopening of country border, local traveler reduced. No cost of revenue of online advertising revenue was recorded as online advertisement is shown on our ready/ongoing website and mobile Apps that is not subject to significant direct cost but general IT maintenance cost which recorded in General and Administrative Expenses.

Gross Profit

For the year ended December 31, 2023, our gross profit increased by $862,254 or 61.46% to $2,265,135, as compared to $1,402,881 for the year ended December 31, 2022. Gross profit margin of 98.16% for the year ended December 31, 2023 was decreased by 0.02%, as compared to gross profit margin of 99.90% in December 31, 2022. Significant high gross profit margin is the nature of our business which major of the revenue are recognized at net basis, according to agency theory, which the cost of purchase is net off in the revenue against the Gross Merchandise Value (GMV) and the revenue is supported by operating costs. The decrease is mainly attributable to the increase in cost of revenue for the year ended December 31, 2023, due to expansion of IT team and software cost.

Sales and Marketing Expenses (“S&M”)

For the year ended December 31, 2023, our sales and marketing expenses increased by $9,705 or 3.32% to $301,597, as compared with $291,892 for the year ended December 31, 2022. The increase in S&M