Company: LTRYW
Filing Date: 2025-04-22
Form Type: 10-K/A
Source: 0001641172-25-005663
Chunk: 127

Company: Lottery.com Inc.
Filing Date: 2025-04-22
Form: 10-K/A
Chunk 127
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555,339 | ) |     |     |       10 | % |
| Net income (loss) attributable to noncontrolling interest |     | $                               |    (170,046 | ) |     | $ |    (272,613 | ) |     | $ |   (102,567 | ) |     |     |      -38 | % |
| Net loss attributable to Lottery.com, Inc.                |     | $                               | (28,221,605 | ) |     | $ | (25,563,699 | ) |     | $ | (2,657,906 | ) |     |     |       12 | % |

Revenues

Revenue.Revenue for the year ended December 31, 2024 was $1.07 million, a decrease of $5.95 million, or (85)%, compared to revenue of $7.02 million for the year ended December 31, 2023. The decrease is primarily because revenue from the bulk ticket sale that took place in April of 2023 did not reoccur in 2024.

Cost of Revenue. Cost of revenue
includes product costs, commission expense to affiliates and commercial partners, and merchant processing fees. Cost of revenue for the
year ended December 31, 2024 was $321,000, a decrease of $5.35 million, or 94%, compared to cost of revenue of $5.67 million for the year
ended December 31, 2023. The decrease in COGS is because the costs for tickets and commissions to a retail partner resulting from the
bulk ticket sale that took place in April of 2023 did not reoccur in 2024.

Gross Profit. Gross profit for
the year ended December 31, 2024 was $745,000, compared to $1.35 million for the year ended December 31, 2023, a decrease of $603,000,
or (45%). This decrease is primarily because the bulk ticket sale that took place in April of 2023 did not reoccur in 2024.

| 68 |

Operating Costs and Expenses

|                            |     | For                         
 the Year Ended December 31, |       2024 |     |     |       2023 |     |     |        $ 
   Change |   |     |     |      % 
 Change |   |
|:---------------------------|:----|:----------------------------|-----------:|: