Company: LTRYW
Filing Date: 2025-11-20
Form Type: 10-Q
Source: 0001493152-25-024384
Chunk: 164

Company: Lottery.com Inc.
Filing Date: 2025-11-20
Form: 10-Q
Item: Part I, Item 8
Chunk 164
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, 2024. The primary driver of the increase is because S&MI was present for nine months in 2025 and only for one month in 2024. Cost of revenue for TinBu was essentially flat and
there was a small increase for Global Gaming.

Gross
Profit. Gross profit for the nine months ended September 30, 2025 was $23,000 compared to $501,000 for the nine months ended
September 30, 2024, a decrease of $478,000, or 95%. Gross profit decreased by: $156,000, for Global Gaming, Tinbu by $108,000, and
S&MI by $214,000 in the three months ended September 30, 2025.

Operating
Costs and Expenses.

    For the nine months Ended  

    September 30,  

    2025  
    2024  
    $ Change  
    % Change 

    Operating expenses: 

    Personnel costs 
     1,485,738  
     3,454,011  
     (1,968,273) 
     -57%
  
    Professional fees 
     3,878,826  
     4,769,938  
     (891,112) 
     -19%
  
    General and administrative 
     3,361,031  
     3,598,397  
     (237,366) 
     -7%
  
    Depreciation and amortization 
     3,281,090  
     3,823,641  
     (542,551) 
     -14%
  
    Total operating expenses 
     12,006,685  
     15,645,987  
     (3,639,302) 
     -23%
  
    Loss from operations 
     (12,983,464) 
    $(15,144,689) 
     (3,161,225) 
     -21%

Operating
expenses for the nine months ended September 30, 2025 were $12.0 million, a decrease of $3.6 million, or 23%, compared to $15.6 million
for the nine months ended September 30, 2024. The decrease was primarily driven by a decrease of $2.0 million in Personnel costs accompanied
by decreases