Company: OWLS
Filing Date: 2025-09-03
Form Type: F-1
Source: 0001193125-25-195057
Chunk: 147

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-03
Form: F-1
Chunk 147
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-related platform services decreased from US$1.9 million (including US$514,592 from OwlTing Experiences, US$65,459 from OwlJourneyand US$1,322,446 from OwlStay) for the year ended December 31, 2023 to US$1.6 million (including US$307,192 from OwlTing Experiences, US$27,183 from OwlJourneyand US$1,288,486
from OwlStay) for the year ended December 31, 2024, primarily due to a reduced amount of tourist activities in Taiwan as the consequence of an earthquake that struck Taiwan in April 2024, which along with subsequent aftershocks severely
impacted eastern Taiwan by damaging transportation routes to the region. These effects led to reduction in booking amounts and external revenue of our hospitality-related platform services for the year ended December 31, 2024.

E-commerce platform

External revenue from e-commerce platform service decreased from US$863,484 for the year ended December 31, 2023 to US$751,635 for the year
ended December 31, 2024, primarily due our adjustments to our product offerings on our e-commerce platform in 2024, including the temporary ceasing of fruit import business, as a result of the challenges in controlling the quality and schedule of
imported fruits.

Others

External revenue from other services decreased from US$21,097 for the year ended December 31, 2023 to US$9,041 for the year ended December 31,
2024, due to our discontinuation of our NFT-related services in 2024 as a result of the numerous controversies surrounding NFT transactions and unclear regulations.

Cost of Revenue

Our cost of revenue increased from US$5.1 million for the year ended December 31, 2023 to US$6.6 million for the year ended December 31, 2024,
primarily due to the full-year recognition of costs of revenue from PayNow, the payment gateway company we acquired in May 2023.

Operating Expenses

Marketing and sales

Our
marketing and sales expenses decreased from US$2.46 million for the year ended December 31, 2023 to US$2.12 million for the year ended December 31, 2024, due to temporary workforce restructuring and role consolidation during the year 2024, partly
driven by our office relocation, which prompted operational adjustments. These changes led to