Company: NUTR
Filing Date: 2025-08-29
Form Type: 10-Q
Source: 0001641172-25-025984
Chunk: 151

Company: NUSATRIP Inc
Filing Date: 2025-08-29
Form: 10-Q
Item: Item 2
Chunk 151
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 $12,190 for the three months ended June 30, 2024. The decrease in cost
of software subscription is in line with revenue. 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.

For
the three and six months ended June 30, 2024, there is no vendor accounts for 10% or more of the Company’s cost of revenue as at
period-end dates.

Gross
Income. We recorded a gross income of $993,041 and $169,363 for the three months ended June 30, 2025 and 2024, respectively. During
the six months ended June 30, 2025 and 2024, we recorded a gross income of $1,276,198 and $702,075, respectively. The gross income is
due to increased gross income from revenue from online ticketing and digital marketing. Gross income margin was 100% and of 97.62% for
the three months ended June 30, 2025 and 2024, respectively. During the six months ended June 30, 2025 and 2024, our gross income margin
was 100% and 98.29% respectively. Significant high gross profit margin is the nature of our business for which the majority of the revenue
are recognized at net basis, according to agency theory, 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 increase is mainly attributable to the decrease in cost of revenue for
the year ended December 31, 2024. Higher gross margin for the three and six months period ended June 30, 2025 was due to higher profit
margin arising from digital marketing business.

Overall
revenue increased for the three months ended June 30, 2025 as compared to June 30, 2024, primarily due to new contracts having been awarded
for online advertisements during such quarter. In addition, Nusatrip’s GMV to Agoda increased substantially from USD 5 million
in 2024 to USD 117 million in 2025. This growth was achieved by making our selling prices more competitive through partnerships with
several new suppliers who offer better rates.

42

Sales
and Marketing Expenses (“