Company: OWLS
Filing Date: 2025-01-24
Form Type: DRS/A
Source: 0000950123-25-000547
Chunk: 293

Company: OBOOK HOLDINGS INC.
Filing Date: 2025-01-24
Form: DRS/A
Chunk 293
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 recognizes the revenue as the transaction is completed.

| 2. | Hospitality services |

(a) Hospitality-related software services The Company provides a property management system based on blockchain technology to the accommodation providers, including room inventory management, online travel agent (OTA) management and sales report provision. The system charges a fixed fee based on the number of rooms offered by the accommodation provider and is charged annually or monthly depending on the respective contract terms. The Company offers services through its self-developed system, retaining control, ownership, and intellectual property rights. Additionally, the Company is responsible for the system’s operation and maintenance during the contract period and has decision-making authority over the subscription fees. After assessing its primary responsibility for fulfilling customer orders and controlling services before transferring them to customers, the Company is deemed the principal and recognizes the subscription fees as revenue. The Company F-18

OBOOK HOLDINGS INC. AND SUBSIDIARIES Notes to the Consolidated Financial Statements (Continued) satisfies the performance obligations over time and recognizes revenue during the contractually agreed period of system services. Due to the customers being charged on a prepaid basis, any fees exceeding the amount attributable to the current financial reporting period are recognized as contract liabilities. The Company also provides room fee collection services on behalf of accommodation providers who utilize the OwlNest platform as their booking engine and disburses the collected funds on the contractually agreed settlement basis. It charges a specified percentage as a processing fee, which varies depending on the payment method used (credit card or ATM). As the arrangement for collecting room fees from consumers is established between the Company and the acquiring banks or third-party payment service providers and the Company can choose the service providers from its partners, the Company maintains control over these services. Additionally, the Company has the authority to make pricing decisions regarding the processing fees. Therefore, the Company is deemed the principal and recognizes the processing fees as revenue. The Company satisfies the performance obligations at the point in time and recognizes revenue as the accommodation providers have completed their services. Before the services provided to the consumers, room fees that are received in advance are recognized as receipt under custody and contract liabilities. (b) Hospitality-related platform services

| • |     | Online travel agency platform |

- OwlTing Experience: The Company collaborates with suppliers (“local guides”) to provide experiential tour services to consumers through OwlTing Experience platform. As the Company is responsible for selecting the suppliers to fulfill the commitments to provide tour services, the Company maintains control over these services. Additionally, the Company is responsible for