Company: OWLS
Filing Date: 2025-09-19
Form Type: F-1/A
Source: 0001193125-25-208098
Chunk: 138

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-09-19
Form: F-1/A
Chunk 138
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90

|                 |     | As of December 31, |       |     |      |       |     | YoY    
 Growth |     |   |
|                 |     | 2023(1)            |       |     | 2024 |       |     |        |     |   |
| Active Accounts |     |                    | 3,556 |     |      | 3,901 |     |        | 9.7 | % |

Notes:

| (1) | The payment services were launched in 2023 with the acquisition of PayNow in May 2023. |

Hospitality services Although our future focus is on the payment business, we also seek to expand “ OwlNest,” our PMS service offerings, and acquire more subscribers in the international markets and strengthen our revenue sources. Therefore, management also focuses on the performance and growth of OwlNest, which is a part of our hospitality services, as another area of our overall business development. Since OwlNestis delivered on a SaaS basis, management uses OwlNest’s Annual Recurring Revenue, or ARR, to gain insights into OwlNest’s growth trajectory, revenue potential and operational stability. Additionally, management considers OwlNest’s Dollar-Based Net Retention Rate as a key indicator of OwlNest’s overall revenue growth and customer retention. In tracking OwlNest’s ARR and Dollar-Based Net Retention Rate, management focuses only on the revenues that are contractually committed on a periodic subscription basis, since OwlNest’s transaction volume-based revenues from our alternative fee model on a commission basis or from our add-on room fee collection services are tied to the sales performance of OwlNest’s customers that we could not control. We use also the number of OwlNestSubscribers to assess our ability to acquire new customers. OwlNest’s Annual Recurring Revenue (ARR) OwlNest’s Annual Recurring Revenue, or ARR, is defined as contractually committed recurring OwlNestrevenue from PMS subscriptions, excluding one-time or non-recurring fees, recognized in the last month of the reporting period and calculated on an annualized basis. OwlNest’s ARR also excludes OwlNest’s transaction volume-based revenues from our alternative fee model on a commission basis or from our add-on room fee collection services. OwlNest’s ARR is calculated based on the assumption that any contract expiring in the next 12 months will be renewed at the rate prevailing in the final month of such contract, unless we determine that