Company: KNRX
Filing Date: 2025-09-02
Form Type: F-1/A
Source: 0001493152-25-012564
Chunk: 7

Company: KNOREX LTD.
Filing Date: 2025-09-02
Form: F-1/A
Chunk 7
---
, fostering wider adoption of XPO and
extending its benefits to a broader array of customers.

Our revenue increased by 24.0%
from US$8.7 million for the year ended December 31, 2023 to US$10.8 million for the year ended December 31, 2024, primarily due to increased
adoption of our platform given the strong demand from our customers to pursue automation and scaling efficiency. Our gross profit increased
by 40.0% from US$3.2 million for the year ended December 31, 2023 to US$4.5 million for the year ended December 31, 2024. Our net loss
decreased by 26.1% from US$8.0 million for the year ended December 31, 2023 to US$5.9 million for the year ended December 31, 2024, primarily
due to increases in revenue and decreases in operating expenses.

Recent Development

For the year ended December
31, 2024, one customer accounted for approximately 73.3% of our total revenues. Beginning in February 2025, our largest customer materially
reduced its business with us after one of their major clients was adversely impacted by new or increased U.S. import tariffs, which led
that client to cut its marketing spend, thereby reducing the business our largest customer conducted with us. This reduction has resulted
in a decline of approximately 50% in our revenue to date in 2025 compared to the same period in 2024.

On June 13, 2025, we incorporated a new wholly owned subsidiary in Singapore, AscendX Media Technologies Pte. Ltd. (“AscendX”), to expand into the monetization facet of digital advertising. AscendX focuses on serving mobile application and game publishers, providing supply path optimization, mediation, and productizing our real-time bidding engine for third-party clients.

Our Competitive Strengths

We attribute our growing success to the following competitive strengths, and we believe that they will continue to provide us with a wide variety of long-term competitive advantages:

| ● | Our                                                                                         
 highly differentiated XPO platform is an all-encompassing omni-channel programmatic         
 advertising management and execution (AMX) platform that is unparallel in terms of          
 depth (being feature-rich and deep integration with the Native Platforms and data partners) 
 and breadth covering the ad channels across the Open Internet and Native                    
 Platforms, thus providing marketers with the