Obook (OWLS) Registration filing summary

Company overview and business model

• Operates a blockchain-driven platform with three main segments: payments (OwlPay), hospitality (OwlNest, OwlJourney, OwlTing Experiences, OwlStay), and e-commerce (OwlTing Market).

• Focuses on cross-border B2B and B2C payments, hospitality SaaS, and e-commerce for Taiwanese SMEs and farmers.

• OwlPay suite offers fiat and stablecoin (USDC) payment solutions, wallet services, and API infrastructure for third parties.

• Holds money transmitter licenses in 35 US states, VASP registration in Poland, and EPISP registration in Japan; expanding licensing globally.

• Early mover in blockchain-enabled payments, with a strong presence in Asia and growing international reach.

Financial performance and metrics

• 2024 revenue: $7.6 million, up 18% from 2023, driven by payment services growth post-PayNow acquisition.

• 2024 net operating loss: $8.9 million (2023: $6.8 million), mainly due to higher professional fees and licensing costs.

• Payment services contributed 53% of 2024 revenue; hospitality 37%; e-commerce 10%.

• Gross Payment Volume (GPV) in 2024: $218.6 million, up 62.5% year-over-year.

• Over 3,900 active payment accounts as of December 31, 2024; OwlNest ARR up 25% to $965,630 with 2,587 subscribers.

Use of proceeds and capital allocation

• No proceeds to the company from this direct listing; all sales are by registered shareholders.

• Recent capital raised via private placements and SAFE agreements, totaling $72.8 million since inception.

• Funds used for global expansion, licensing, R&D, and integration of acquired businesses.