Obook (OWLS) Registration filing summary

Company overview and business model

• Operates as a blockchain technology group with offerings in payments, hospitality, and e-commerce, focusing on cross-border transactions and digital transformation.

• Key products include OwlPay (blockchain-based payment suite), OwlNest (hospitality PMS), and OwlTing Market (e-commerce for local producers).

• OwlPay supports both fiat and stablecoin (USDC) transactions, with platform and API solutions for businesses and individuals.

• Holds money transmitter licenses in 35 U.S. states and registrations in Poland and Japan, with plans for further global expansion.

• Revenue streams are diversified: payments (53%), hospitality (37%), and e-commerce (10%) in 2024.

Financial performance and metrics

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

• Net operating loss increased to $8.9 million in 2024 from $6.8 million in 2023, mainly due to higher operating expenses.

• Gross Payment Volume (GPV) for payment services reached $218.6 million in 2024, a 62.5% increase year-over-year.

• Active payment accounts grew 9.7% to 3,901 in 2024.

• OwlNest hospitality subscribers increased to 2,587, with ARR up 25% to $965,630 and a net retention rate of 108%.

• Cash and restricted cash at year-end 2024 was $8.7 million; company raised $16.6 million in equity and $2.5 million via SAFE agreements in 2025.

Use of proceeds and capital allocation

• No proceeds will be received by the company from the resale of shares by registered shareholders.

• Raised cumulative funding of $72.8 million as of 2025, supporting global expansion and product development.

• Intends to retain earnings to fund operations and expansion; no dividends anticipated in the foreseeable future.