Company: LTRYW
Filing Date: 2025-11-20
Form Type: 10-Q
Source: 0001493152-25-024384
Chunk: 162

Company: Lottery.com Inc.
Filing Date: 2025-11-20
Form: 10-Q
Item: Part I, Item 8
Chunk 162
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46%. Interest expense relates to notes payable from the time of the
business combination plus interest on more recent convertible notes from Woodford, UCIL, and Univest. Interest accrual for
convertible debt was lower for the three months ended September 30, 2025 than for the three months ended September 30, 2024 due to
lower balances for convertible debt as a result of conversions to equity.

Other
(Income) Expense. Other (Income) was essentially flat for the three months ended September 30, 2025 compared with
the three months ended September 30, 2024.

Nine
Months Ended September 30, 2025 Compared to Nine Months Ended September 30, 2024

The
following table summarizes our results of operations for the nine months ended June 30, 2025 and June 30, 2024, respectively.

    For the nine months Ended  

    September 30,  

    2025  
    2024  
    $ Change  
    % Change 

    Revenue 
    $553,290  
    $716,970  
     (163,680) 
     -23%
  
    Cost of revenue 
     530,069  
     215,672  
     314,397  
     146%
  
    Gross profit 
     23,221  
     501,298  
     (478,077) 
     -95%

    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