Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 304

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 2
Chunk 304
---
) 
     -127%
  
    Other expense 
     (88,605) 
     8,684  
     (97,289) 
     -1,120%
  
    Total other expenses, net 
     (148,724) 
     232,715  
     (381,439) 
     -164%

    Net loss before income tax 
    $(7,279,045) 
    $(11,717,238) 
     4,438,193  
     -38%
  
    Income tax expense (benefit) 
     8,300  
     8,300  
     0  
     0%
  
    Net loss 
     (7,287,345) 
     (11,725,538) 
     4,438,193  
     -38%

13

Revenue. Revenue for the
six months ended June 30, 2025 was $416,000, a decrease of $101,000, or 20%, compared to revenue of $516,000 for the six months ended
June 30, 2024. The decrease is the net effect of decreases of $103,000 for Global Gaming and $86,000 for TinBu in 2025 vs 2024 offset
by $88,000 in revenue for the S&MI subsidiary which was not present in the six months ended June 30, 2024.

Cost of Revenue. Cost of
revenue includes product costs, commission expense to affiliates and commercial partners, and merchant processing fees. Cost of revenue
of $325,000 for the six months ended June 30, 2025 was an increase of $196,000 or 151% compared with $129,000 for the six months ended
June 30, 2024. The primary driver of the increase is $239,000 in cost of revenue for the S&MI subsidiary which was not present in
the six months ended June 30, 2024 which was partially offset by a decrease of $43,000 for Global Gaming in the six months ended June
30, 2025.

Gross Profit. Gross profit
for the six months ended June 30, 2025 was $90,000 compared to $387,000 for the six months ended June 30, 2024, a decrease of $297,000,
or 77%. The