Company: OWLS
Filing Date: 2025-09-19
Form Type: F-1/A
Source: 0001193125-25-208098
Chunk: 28

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-19
Form: F-1/A
Chunk 28
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 may not be sustainable and depends on our ability to retain existing customers and users, attract new customers and users and increase processed volumes and revenue from both new and existing customers and users.

While we have recorded growth in the past five
years, there is no assurance that our rate of growth would necessarily continue, or that we would continue to grow at all. Additionally, our rate of revenue and gross profit growth may vary among our business segments. For example, we are currently
focused on developing and expanding our Payment segment, particularly in stablecoin-related services, through a suite of platform solutions—such as OwlPay Paymentfor stablecoin acceptance and USDC payouts, and OwlPay Wallet Profor enterprise digital asset management—and infrastructure solution, OwlPay Harbor, which offers APIs for stablecoin payment gateway integration, on/off-ramp services, cross-chain transactions, and payout services, all of which may
materially transform the financial, operational, and growth profile of our Payment segment and significantly impact our overall business and financial performance as well as our future prospects. As another example, our Hospitality segment has grown
at a faster rate than our other business segments since the launch of OwlNest. The growth of our business depends on our ability to retain existing customers, attract new customers, and encourage our existing and/or new customers to expand
their engagement with our products and services. To do so, we must continue to offer leading technologies and ensure that our products and services are secure, reliable and engaging. We must also expand our products and services, and offer
competitive rates and prices in an increasingly crowded and price-sensitive market. There is no assurance that we will be able to continue to do so, that we will be able to retain our current customers or attract new customers, or keep our customers
engaged. If our growth slows or stops, our business performance may be materially and adversely affected.

Our customers, including
business customers, have no obligation to continue using our services, and we cannot assure you that they will. Our standard contracts with business customers provide for a termination clause, which generally allows business customers to terminate
their contracts at any time or following a limited notice period, and our individual customers may terminate the use of our products and services at any time and freely switch to other payment service providers.

Our customers’ activity with us may decrease for a variety of reasons, including their level of satisfaction with our products and
services, the effectiveness of our support services, the pricing and quality of our products and services in comparison with competing products or services,