ARLINGTON, Va., Dec. 30, 2025 (GLOBE NEWSWIRE) -- OBOOK Holdings Inc. $(OWLS)$ (the "Company" or "OwlTing"), a blockchain technology company operating as the OwlTing Group, today announced its unaudited financial results for the first half of 2025 ended June 30, 2025. The Company also highlighted the near completion of its core global payment infrastructure and progress toward enterprise-scale stablecoin payment activation beginning in 2026.
First Half 2025 Operational and Financial Highlights
-- 2025 marked a pivotal transition year for OwlTing, representing the near
completion of the core global payment infrastructure, including
regulatory, settlement, processing capacity, and compliance capabilities
required to support enterprise-scale stablecoin payments.
-- With the infrastructure now largely in place and early enterprise
customers already onboarded, OwlTing is supporting multi-billion-dollar
monthly transaction capacity across qualified counterparties that have
completed API integration and compliance onboarding. This represents
transaction capacity rather than contracted revenue, and monetization is
expected to scale as corridors and regulatory coverage expand.
-- OwlTing's established and legacy businesses remained a solid foundation
of the Company during this transition, continuing to perform well while
supporting overall stability as the infrastructure build-out was
completed.
-- Payment services revenue increased by 16%, driven by the Company's
traditional payment gateway business, with Gross Payment Volume1
exceeding US$110 million and Active Accounts2 of more than 4,100
customers, demonstrating continued scale and customer engagement.
-- OwlNest revenue grew approximately 20%, supported by a subscriber base of
over 2,700 OwlNest Subscribers3, reflecting sustained demand for our
hospitality and merchant service offerings.
-- OwlTing is positioned to enter an activation phase beginning in 2026,
with scalability and operating leverage expected to become increasingly
evident as transaction volumes grow and payment mix shifts toward
infrastructure-led settlement.
Management Commentary
"We view the first half of 2025 as a transition period where we prioritized system completion over near-term revenue optimization," commented Darren Wang, Founder & CEO at OwlTing Group. "We are seeing enterprise customers move from pilots toward production integration, and we are expanding the regulatory and corridor access required to scale stablecoin and tokenized-asset settlement in a compliant manner. In infrastructure businesses, capacity precedes monetization, and we believe the foundation we have put in place positions us well for an activation phase beginning in 2026."
"Our first-half results reflect disciplined cost control while completing a major infrastructure transition. Excluding non-recurring listing-related expenses, our core expense base remained stable as we continued investing in scalability and compliance," stated Winnie Lin, CFO at OwlTing Group. "As utilization increases, we expect the economics to improve meaningfully given a largely fixed cost base and declining marginal costs on our settlement stack. Our liquidity and capital resources provide flexibility to support global expansion and ongoing product development, while positioning the Company to capture significant operating leverage as infrastructure utilization scales."
First Half 2025 Financial Results
Revenue
Total revenue was US$3.84 million in the first half of 2025, compared to US$3.61 million in the same period of 2024. Revenue performance during the period should be viewed in the context of a transition year, during which the Company intentionally prioritized the completion of its core payment infrastructure over short-term revenue acceleration.
Management focused on advancing regulatory readiness, settlement capabilities, processing capacity, and compliance systems required to support enterprise-scale operations. As a result, reported revenue reflects a deliberate investment phase and does not yet capture the full earning potential of the infrastructure that has now largely been completed.
Within this context, the Company's core revenue streams continued to demonstrate resilience, providing a stable foundation during the transition while positioning the business for improved scalability and operating leverage.
-- Revenue from payment services increased 16.0% to US$2.17 million in the
first half of 2025, compared to US$1.87 million in the same period last
year, driven by higher gross payment volumes and an expanding customer
base across core markets. Payment services contributed 56.4% of total
revenue in the first half of 2025 compared to 51.8% in the prior-year
period, reflecting the continued strength of the Company's payment
operations during the transition year.
-- Revenue from hospitality services increased to US$1.39 million in the
first half of 2025 from US$1.35 million in the same period last year.
Performance was supported by continued growth in hospitality-related
software services, primarily driven by OwlNest property management system
subscription fees, reflecting ongoing adoption and contract renewals.
This growth was partially offset by lower activity in hospitality
platform services, which experienced modest softness due to shifts in
regional travel patterns.
-- Revenue from the e-commerce platform declined to US$288 thousand in the
first half of 2025 from US$382 thousand in the same period last year. The
decrease reflects the Company's strategic reallocation of internal
resources toward higher-growth business lines, particularly its payment
infrastructure platform, which resulted in reduced operating focus and
lower revenue from the e-commerce segment.
Cost of Revenue
Cost of revenue in the first half of 2025 was US$3.36 million compared to US$3.07 million in the same period last year, primarily reflecting a higher contribution from traditional payment gateway services, which carry a lower gross margin profile due to third-party processing costs. Management views this cost structure as transitional as the revenue mix continues to evolve.
Gross Profit
Gross profit in the first half of 2025 was US$480 thousand compared to US$540 thousand in the same period last year. Gross margin declined to 12.5%, from 15.0% in the first half of 2024, primarily reflecting the cost structure associated with traditional third-party payment channels. As the Company completes its transition toward proprietary, stablecoin-native settlement infrastructure, management expects marginal transaction costs to decline meaningfully.
The infrastructure model is characterized by a largely fixed cost base, with incremental transaction volume expected to convert to margin at a significantly higher rate over time. Accordingly, management views current margin levels as transitional rather than structural and expects margin expansion as infrastructure activation increases.
Operating Expenses
Operating expenses totaled US$6.79 million in the first half of 2025, compared with US$4.71 million in the same period last year. The year-over-year increase was primarily driven by one-time public listing-related expenses and professional services fees associated with the Company's Nasdaq listing and related regulatory requirements. Excluding these non-recurring items, core operating expenses remained broadly consistent with prior periods, reflecting continued cost discipline across sales, product development, and administrative functions.
-- Marketing and sales expenses decreased by 21.2% to US$0.95 million in the
first half of 2025 from US$1.21 million in the same period last year,
mainly driven by lower labor-related costs. As a percentage of total
revenue, marketing and sales expenses decreased to 24.7% in the first
half of 2025 from 33.4% in the same period last year, reflecting enhanced
operational efficiency and improved return on customer acquisition spend.
-- General and administrative expenses increased to US$4.53 million in the
first half of 2025 from US$2.30 million in the same period last year. The
increase was primarily driven by non-recurring legal, audit, and
professional services fees incurred in connection with the Company's U.S.
public listing. In addition, the Company incurred higher office rental
expenses, reflecting broader infrastructure scaling to support
international operations.
-- Research and development expenses increased to US$1.31 million or 34.1%
of total revenue in the first half of 2025 from US$1.20 million or 33.2%
of total revenue in the same period last year. The increase reflects the
Company's continued investment in enhancing platform scalability,
fortifying information security architecture, and expanding its
proprietary cloud-based infrastructure. These initiatives are aligned
with the Company's long-term strategy to drive product innovation and
ensure a secure, high-performance environment for enterprise clients.
Net Loss
Net loss narrowed by 27.0% to US$3.91 million in the first half of 2025 from US$5.35 million in the same period last year. The year-over-year improvement was primarily attributable to increased revenue and reduced marketing and sales spend, which helped offset elevated one-time listing-related expenses. Foreign exchange movements had a modest positive impact on the Company's Taiwan-based cost structure; however, these gains were partially offset at the consolidated level due to currency fluctuations in other markets.
Liquidity and Capital Resources
Operating cash outflows totaled US$1.29 million in the first half of 2025, a significant improvement from US$4.45 million in the same period of 2024. The reduction in cash usage was primarily driven by stronger revenue performance and enhanced cost efficiencies, which together reduced the Company's operating cash requirements during the period.
During our pre-listing financing rounds in 2025, we raised approximately US$20 million in total capital through a combination of equity financings and SAFE instruments, of which approximately US$14 million was completed in the second half of the year.
As of June 30, 2025, the Company maintained a solid liquidity and capital position, underpinned by prudent working capital management and disciplined capital expenditure. Management believes that existing cash reserves, together with anticipated operating cash flows, are sufficient to support ongoing operational needs and planned strategic investments. The Company also remains open to strategic capital opportunities that could accelerate expansion in 2026, subject to market conditions.
Business Outlook
For the remainder of 2025, OwlTing remains focused on fully operationalizing the infrastructure investments made across regulatory coverage, settlement capabilities, processing capacity, and compliance frameworks. Management expects continued progress in enterprise onboarding and corridor readiness, with monetization expected to scale as utilization increases over time.
Looking ahead, the Company believes that the infrastructure completed during this transition year positions OwlTing for more efficient scaling as payment-related offerings gain broader enterprise adoption. As utilization of the platform increases, management expects operating leverage to become more visible, supported by a largely fixed infrastructure cost base and an improving revenue mix.
Share Repurchase Program
On November 26, 2025, the Company announced that its Board of Directors authorized a share repurchase program of up to US$10 million of the Company's Class A common stock. The repurchase program, effective for nine months, reflects the Board's view that the repurchase authorization provides flexibility in capital allocation as the Company executes its long-term infrastructure strategy and evaluates near-term catalysts across its payment technology pipeline. Under the authorization, OwlTing may repurchase shares from time to time in the open market or through other methods permitted under applicable law, including pursuant to a Rule 10b5-1 trading plan, in accordance with applicable securities laws and Rule 10b-18 under the U.S. Securities Exchange Act of 1934. The Company is not obligated to repurchase any specific number of shares, and the program may be modified, suspended, or terminated at any time based on market conditions, corporate needs, or other factors deemed relevant by the Company.
Recent Developments
-- Nasdaq Listing On October 16, 2025, the Company announced the successful
direct listing of its Class A common shares on the Nasdaq Global Market
("Nasdaq") under the ticker symbol "OWLS". As Asia's first fintech
company to achieve a direct listing on Nasdaq with its Class A common
shares, OBOOK believes that this direct listing marks a significant step
forward for the region's technology and financial innovation landscape.
Sullivan & Cromwell LLP acted as U.S. counsel to the Company. D. Boral
Capital LLC acted as financial advisor to the Company in connection with
this direct listing, and Sichenzia Ross Ference Carmel LLP acted as U.S.
counsel to D. Boral Capital LLC. KPMG acted as the Company's independent
auditor.
-- Expands U.S. Regulatory Footprint Following its successful Nasdaq direct
listing, the Company achieved an additional regulatory milestone with the
approval of money transmitter licenses or the equivalent in Washington,
Kansas, North Carolina, and New Mexico, expanding its fund operations
coverage to 40 U.S. states. The Washington State license was obtained
following a multi-year regulatory review process, further strengthening
OwlTing's U.S. regulatory footprint and supporting its strategy to
develop a fully regulated stablecoin infrastructure for global commerce
through its OwlPay platform.In parallel, the Company continues to advance
licensing and regulatory authorization efforts in the European Union,
Japan, Hong Kong, Singapore, and the Latin American region. Supported by
a comprehensive compliance framework, including rigorous KYC/AML controls
and end-to-end transaction transparency, OwlTing seeks to support
financial institutions, fintech companies, and global merchants in the
adoption of stablecoin-based payment solutions in a compliant and
scalable manner.
-- Integration into the Circle Payment Network $(CPN)$ On December 4, 2025,
the Company announced the successful integration of its OwlPay platform
into the Circle Payments Network (CPN), a global stablecoin settlement
rail developed by Circle Technology Services, LLC. As one of the first
Asia-based financial institutions to join CPN, OwlTing now enables
near-instant, compliant stablecoin transactions across a growing set of
high-value corridors, including Latin America, Africa, and the European
Union, via its OwlPay Wallet Pro platform. This development enhances the
Company's ability to deliver low-cost, real-time cross-border payment
services and supports its broader strategy to expand reach in the US$194
trillion global payments market. With operational coverage across 40 U.S.
states supported by applicable regulatory licenses, OwlTing continues to
strengthen its position as a trusted global stablecoin infrastructure
provider.
-- Collaboration with Visa to Launch OwlPay Cash App for Remittances On
December 9, 2025, OwlTing announced the upcoming launch of OwlPay Cash, a
mobile-first remittance application developed in collaboration with Visa.
Powered by Visa Direct and supported by Cross River Bank for U.S.
settlement, OwlPay Cash allows users in the United States to send funds
directly to bank accounts in 26 countries, including key remittance
corridors across Latin America, Asia, and Europe. The app combines global
reach, cost efficiency, and a user-friendly experience to address
longstanding challenges in cross-border money transfers. OwlPay Cash
enables real-time payouts in local currencies with no monthly fees and up
to 70% lower transaction costs than traditional SWIFT-based methods. The
product expands OwlTing's reach in fiat-based payments while reinforcing
the Company's strategy to build trusted, compliance-led global payment
infrastructure.
Conference Call Information
The Company's management team will host a conference call at 5:00 P.M. Eastern Time on Monday, December 29, 2025, to discuss the financial results and recent business developments. Details of the webcast are as follows:
Date and time: 5:00 P.M. Eastern Time on December 29, 2025
Webcast link: https://events.zoom.us/ev/AhnregDWeb3i67zc747Ez5p6RrrIdiYhh66vkYA6JsXo7-L_XTeXAhUjxiXFm5ghdisNg_RrzcUOBG--cAfm9zX1tIFH0v0RcgemGEAESHb2_Q
A live and archived webcast of the conference call will be available on the Company's Investor Relations website at https://investors.owlting.com/.
_______________________
(1) Gross Payment Volume, or GPV, is defined as the total value of transactions processed through the Company's payment services, including via its payment gateway services, fiat currency cross-border remittances, foreign exchange for fiat currency (as standalone transactions not involving fund transfers) and stablecoins solutions (including on/off-ramp services and cross-chain transactions), and further net of transaction reversals.
(2) An Active Account is defined as an account registered on the Company's payment platforms that has completed at least one transaction on its payment platforms within the past 12 months. A unique individual or business user may register on the Company's platforms to access different services and may register more than one account to access a service.
(3) An OwlNest Subscriber is defined as a customer with an active, paid OwlNest subscription as of the end of the applicable reporting period. The Company treats each customer account that has a corresponding contract as a unique OwlNest Subscriber, and a single organization with multiple branches may be counted as multiple OwlNest Subscribers.
About OBOOK Holdings Inc. (OwlTing Group; NASDAQ: OWLS)
OBOOK Holdings Inc. (NASDAQ: OWLS) is a blockchain technology company operating as the OwlTing Group. The Company was founded and is headquartered in Taiwan, with subsidiaries in the United States, Japan, Poland, Singapore, Hong Kong, Thailand, and Malaysia. The Company operates a diversified ecosystem across payments, hospitality, and e-commerce. In 2025, according to CB Insights statistics, OwlTing was ranked among the top 2 global players in the "Enterprise & B2B" category of the digital currency market map. The Company's mission is to use blockchain technology to provide businesses with more reliable and transparent data management, to reinvent global flow of funds for businesses and consumers and to lead the digital transformation of business operations. To this end, the Company introduced OwlPay, a Web2 and Web3 hybrid payment solution, to empower global businesses to operate confidently in the expanding digital currency economy. For more information, visit https://www.owlting.com/portal/?lang=en.
Safe Harbor Statement
This press release contains forward-looking statements within the meaning of Section 27A of the U.S. Securities Act of 1933 and Section 21E of the U.S. Securities Exchange Act of 1934. These statements are based on the current expectations, estimates, and projections of management about the Company's operations, industry trends, regulatory developments, and other factors, and are not guarantees of future performance. Words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "may," "will," "should," and similar expressions are intended to identify forward-looking statements.
Forward-looking statements include, but are not limited to, statements regarding the Company's future financial and operating performance, revenue outlook, product development initiatives, regulatory licensing, partnerships, market expansion, capital resources, and strategic priorities. These statements involve known and unknown risks, uncertainties, and other factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements, including those described under the sections titled "Risk Factors," "Management's Discussion and Analysis of Financial Condition and Results of Operations," and other disclosures contained in the Company's prospectus and other filings with the U.S. Securities and Exchange Commission (SEC).
The forward-looking statements in this press release speak only as of the date hereof. Except as required by law, the Company undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events, or otherwise. You should not place undue reliance on these statements. Additional information regarding the Company and its filings with the SEC may be found at www.sec.gov.
For investor and media enquiries, please contact:
OBOOK Holdings Inc. Investor Relations OBOOK Holdings Inc. Media Relations
Henry Fan, Investor Relations Director Michael Hsu, Public Relations Director
ir@owlting.com pr_office@owlting.com
-------------------------------------- --------------------------------------
The Blueshirt Group, Investor
Relations Jack Wang, Managing Director
OwlTing@BlueshirtGroup.co
--------------------------------------
OBOOK HOLDINGS INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Statements of Financial
Position
June 30, 2025 and December 31, 2024
(Expressed in U.S. Dollars)
June 30, December 31,
2025 2024
----------- ------------
Assets
Current assets:
Cash $ 5,914,077 4,511,377
Restricted cash 2,240,942 4,210,381
Accounts receivable 451,920 299,359
Other receivables 266,917 51,834
Current tax assets 4,475 21,174
Prepayment 325,271 2,135,731
Other financial assets - current 6,046,865 5,397,240
Other current assets 140,868 160,844
---------- ------------
Total current assets 15,391,335 16,787,940
---------- ------------
Non-current assets:
Property, plant and equipment 1,011,967 366,350
Right-of use assets 4,450,467 4,556,692
Other intangible assets 388,809 391,737
Goodwill 287,285 287,285
Other financial assets - non-current 734,259 721,346
Other non-current assets 12,025 209,316
---------- ------------
Total non-current assets 6,884,812 6,532,726
---------- ------------
Total assets $22,276,147 23,320,666
========== ============
Liabilities and Equity
Current liabilities:
Contract liabilities - current 1,979,705 1,735,806
Accounts payable 1,804,910 1,687,449
Other payables 2,021,488 2,053,402
Other payables to related parties 1,826,593 1,723,390
Current tax liabilities 7,144 3,909
Current provisions 76,868 68,944
Lease liabilities - current 1,384,814 1,177,303
Long-term borrowings, current potion 375,360 332,974
Current preference share liabilities 406,366 406,366
Other current liabilities - receipts under
custody 12,009,203 11,854,693
Other current liabilities 162,677 111,754
---------- ------------
Total current liabilities 22,055,128 21,155,990
---------- ------------
OBOOK HOLDINGS INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Statements of Financial
Position
June 30, 2025 and December 31, 2024
(Expressed in U.S. Dollars)
June 30, December 31,
2025 2024
------------- ---------------
Non-current liabilities:
Non-current financial liabilities at
fair value through profit or loss 2,558,815 -
Long-term borrowings 713,915 800,913
Lease liabilities - non-current 3,596,779 3,789,208
Non-current preference share
liabilities 1,370,171 1,569,999
Other non - current liabilities 309,409 299,136
----------- -----------
Total non-current liabilities 8,549,089 6,459,256
----------- -----------
Total liabilities 30,604,217 27,615,246
----------- -----------
Equity attributable to owners of
parent:
Share capital 80,866 80,866
Advance receipts for share capital 4,959,000 2,000,000
Capital surplus 51,678,353 51,678,353
Accumulated deficit (64,521,215) (60,612,910)
Other equity (528,161) 2,555,649
----------- -----------
Equity attributable to owners of
the parent (8,331,157) (4,298,042)
Non-controlling interest 3,087 3,462
----------- -----------
Total Equity (8,328,070) (4,294,580)
----------- -----------
Total liabilities and equity $ 22,276,147 $ 23,320,666
=========== ===========
OBOOK HOLDINGS INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Statements of Profit
or Loss and Other Comprehensive Income (Loss)
For the six months ended June 30, 2025 and 2024
(Expressed in U.S. Dollars)
For the six months ended June 30
----------------------------------------
2025 2024
Revenue $ 3,840,984 3,606,514
Costs of revenue (3,360,935) (3,066,758)
-------------- -------------
Gross profit 480,049 539,756
-------------- -------------
Operating expenses:
Marketing and sales (954,260) (1,209,732)
General and administrative (4,524,458) (2,300,142)
Research and development (1,312,137) (1,199,116)
-------------- -------------
Total operating expenses (6,790,855) (4,708,990)
-------------- -------------
Net operating loss (6,310,806) (4,169,234)
-------------- -------------
Non-operating income and expense:
Interest income 25,113 34,389
Foreign currency exchange gains 2,473,289 515
Foreign currency exchange losses (1,144) (937,037)
Loss on financial liabilities at
fair value through profit or
loss (8,815) (259,418)
Other losses (3,288) (9,087)
Other income 48,509 33,805
Finance costs (125,513) (55,380)
-------------- -------------
Total non-operating income and
expenses 2,408,151 (1,192,213)
-------------- -------------
Loss before tax (3,902,655) (5,361,447)
Income tax (expense) benefit (6,098) 8,254
-------------- -------------
Net loss (3,908,753) (5,353,193)
-------------- -------------
Other comprehensive income (loss):
Components of other comprehensive
income (loss) that will be
reclassified to profit or loss
Exchange differences on
translation of foreign
financial statements (3,083,737) 1,163,596
Income tax related to components
of other comprehensive income
(loss) that will be reclassified
to profit or loss - -
-------------- -------------
Components of other
comprehensive income (loss)
that will be reclassified to
loss (3,083,737) 1,163,596
-------------- -------------
Other comprehensive income (loss) (3,083,737) 1,163,596
-------------- -------------
Total comprehensive loss $ (6,992,490) (4,189,597)
============== =============
Loss attributable to:
Owners of the parent $ (3,908,305) (5,352,018)
Non-controlling interests (448) (1,175)
-------------- -------------
$ (3,908,753) (5,353,193)
-------------- -------------
Total comprehensive loss
attributable to:
Owners of the parent $ (6,992,115) (4,188,266)
Non-controlling interests (375) (1,331)
-------------- -------------
$ (6,992,490) (4,189,597)
-------------- -------------
Loss per share
Basic and diluted loss per share $ (0.05) (0.07)
============== =============
OBOOK HOLDINGS INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Statements of Changes
in Equity
For the six months ended June 30, 2025 and 2024
(Expressed in U.S. Dollars)
Equity attributable to owners of parent
---------------------------------------------------------------------------------
Share capital Other equity
---------------------- -----------------
Exchange
differences on
Capital translation of
Ordinary collected Capital Accumulated foreign financial Non-controlling
shares in advance surplus deficit statements Total interest Total equity
-------- ------------ ----------- ------------ ----------------- ----------- ----------------- -------------
Balance at
January 1,
2024 $78,079 10,920,349 31,971,625 (50,590,502) 1,233,711 (6,386,738) 5,988 (6,380,750)
------ ----------- ---------- ----------- ---------- ----- ---------- ----------- ---- ----------
Net Loss for
the period - - - (5,352,018) - (5,352,018) (1,175) (5,353,193)
Other
comprehensive
income (loss)
for the
period - - - - 1,163,752 1,163,752 (156) 1,163,596
------ ----------- ---------- ----------- ---------- ----- ---------- ----------- --- ----------
Total
comprehensive
income (loss)
for the period - - - (5,352,018) 1,163,752 (4,188,266) (1,331) (4,189,597)
------ ----------- ---------- ----------- ---------- ----- ---------- ----------- --- ----------
Advance receipts
for share
capital - 7,170,000 - - - 7,170,000 - 7,170,000
Capital increase
in cash 1,651 (10,784,290) 10,782,639 - - - - -
Cancellation of
share capital (275) - (247,225) 247,500 - - - -
Conversion of
simple
agreement for
future equity - 1,866,666 - - - 1,866,666 - 1,866,666
------ ----------- ---------- ----------- ---------- ----- ---------- ----------- ---- ----------
Balance at June
30, 2024 79,455 9,172,725 42,507,039 (55,695,020) 2,397,463 (1,538,338) 4,657 (1,533,681)
====== =========== ========== =========== ========== ===== ========== =========== ==== ==========
Balance at
January 1,
2025 80,866 2,000,000 51,678,353 (60,612,910) 2,555,649 (4,298,042) 3,462 (4,294,580)
------ ----------- ---------- ----------- ---------- ----- ---------- ----------- ---- ----------
Net Loss for
the period - - - (3,908,305) - (3,908,305) (448) (3,908,753)
Other
comprehensive
income (loss)
for the
period - - - - (3,083,810) (3,083,810) 73 (3,083,737)
------ ----------- ---------- ----------- ---------- ---- ---------- ----------- ---- ----------
Total
comprehensive
income (loss)
for the period - - - (3,908,305) (3,083,810) (6,992,115) (375) (6,992,490)
------ ----------- ---------- ----------- ---------- ---- ---------- ----------- --- ----------
Advance receipts
for share
capital - 2,959,000 - - - 2,959,000 - 2,959,000
Balance at June
30, 2025 $80,866 4,959,000 51,678,353 (64,521,215) (528,161) (8,331,157) 3,087 (8,328,070)
====== =========== ========== =========== ========== ==== ========== =========== ==== ==========
OBOOK HOLDINGS INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Statements of Cash
Flows
For the six months ended June 30, 2025 and 2024
(Expressed in U.S. Dollars)
For the six months ended June 30
----------------------------------------
2025 2024
Cash flows used in operating
activities:
Loss for the year $ (3,908,753) (5,353,193)
Adjustments for:
Depreciation expense 689,281 453,439
Amortization expense 47,247 43,834
Loss on financial liabilities
at fair value through profit
or loss 8,815 259,418
Impairment loss (reversal) on
intangible assets 1,325 (120)
Impairment loss on property,
plant and equipment 860 5,670
Finance costs 125,513 55,380
Interest income (25,113) (34,389)
Government subsidy income (76) (76)
Profit from lease modification - (537)
Income tax expense (benefit) 6,098 (8,254)
-------------- -------------
(3,054,803) (4,578,828)
-------------- -------------
Change in operating assets and
liabilities:
Decrease in notes receivable - 4,025
Decrease (increase) in
accounts receivable (152,560) 10,971
Decrease (increase) in other
receivables (215,083) 7,988
Decrease (increase) in
prepayment 1,810,460 (833,295)
Decrease in other current
assets 19,976 71,382
Decrease in other non-current
assets - 490
Increase in contract
liabilities 243,899 422,023
Increase (decrease) in
accounts payable 117,461 (169,514)
Increase (decrease) in other
payables (38,814) 660,555
Decrease in other payables
from related parties (9,833) (17,034)
Increase (decrease) in
provisions 7,924 (2,907)
Increase (decrease) in other
current liabilities 50,923 (18,668)
Cash used in operations (1,220,450) (4,442,812)
Interest received 25,113 34,389
Interest paid (111,419) (34,683)
Income taxes refunded (paid) 14,819 (2,748)
-------------- -------------
Net cash flows used in
operating activities (1,291,937) (4,445,854)
-------------- -------------
Cash flows used in investing
activities:
Acquisition of property, plant
and equipment (403,479) (90,177)
Acquisition of intangible
assets (19,716) (41,137)
Increase in guarantee deposits
paid (7,555) (213,466)
Decrease in guarantee deposits
paid 84,560 32,745
Prepaid equipment costs (7,424) (10,072)
Net cash flows used in
investing activities (353,614) (322,107)
-------------- -------------
OBOOK HOLDINGS INC. AND SUBSIDIARIES
Unaudited Condensed Consolidated Statements of Cash
Flows
For the six months ended June 30, 2025 and 2024
(Expressed in U.S. Dollars)
For the six months ended June 30
----------------------------------------
2025 2024
Cash flows from financing
activities:
Repayment of long-term
borrowings (172,235) (208,099)
Repayment of preference share
liabilities (203,184) -
Repayments of installment
payables (7,880) -
Increase (decrease) in other
payables from related
parties 113,035 (122,711)
Increase (decrease) in other
current liabilities --
receipts under custody (495,115) 636,672
Increase in guarantee deposits
received 4,121 16,669
Decrease in guarantee deposits
received (3,434) (4,290)
Advance receipts for share
capital 2,959,000 7,170,000
Payment of lease liabilities (571,605) (410,511)
Proceeds from non-current
financial liabilities at fair
value through profit or loss 2,550,000 -
Payment of non-current
financial liabilities at fair
value through profit or loss - (100,000)
Net cash flows from financing
activities 4,172,703 6,977,730
-------------- -------------
Effect of exchange rate changes on
cash and restricted cash (3,093,891) 1,151,221
-------------- -------------
Net increase (decrease) in cash
and restricted cash (566,739) 3,360,990
Cash and restricted cash at
beginning of year 8,721,758 7,997,008
-------------- -------------
Cash and restricted cash at end of
year $ 8,155,019 11,357,998
============== =============
(END) Dow Jones Newswires
December 29, 2025 16:45 ET (21:45 GMT)