Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 147

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 147
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, 2023 to US$61,360 for the nine months ended September 30, 2024,
due to a one-time settlement of a payable in 2023, resulting in an increase in other income for that period as the associated obligation was eliminated.

Finance Costs

Our
finance costs decreased from US$104,849 for the nine months ended September 30, 2023 to US$103,001 for the nine months ended September 30, 2024, due to lower interest expense resulting from a decrease in the loan principal over the period.

Total Comprehensive Loss

As a result of the foregoing, our total comprehensive loss increased from US$4.9 million for the nine months ended September 30, 2023 to US$6.3
million for the nine months ended September 30, 2024.

Comparison of the Years Ended December 31, 2022 and December 31, 2023

Revenue

Our
revenue increased from US$3.8 million in 2022 to US$6.4 million in 2023, primarily due to the increase of revenue generated from our payment services as a result of acquisition of the payment gateway company, PayNow, in May 2023.

Payment services

External revenue from payment services increased from nil to US$2.5 million as we expanded into our payment business through acquiring
PayNow in May 2023. The revenue we generated from our payment services consisted of (i) US$2.5 million generated from payment gateway services via PayNow; and (ii) US$2,666 generated from fiat solutions for domestic and international
payout services, a new payment platform service under OwlPay launched at the end of 2023.

Hospitality services

A. Hospitality-related software services

External revenue from hospitality-related software services increased from US$880,786 in 2022 to US$1.1 million in 2023, driven by
(i) an increase in the number of OwlNest Subscribers, contributing to the increase in OwlNest system subscription fees from US$554,366 in 2022 to US$738,158 in 2023; and (ii) the

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easing of the COVID-19 pandemic leading the recovery of the hospitality industry, resulting in higher booking amounts and an increase in the flow of funds
processed by the OwlNest system, contributing to the increase in external revenue from processing service fees from US$326,420 in