Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 166

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 8
Chunk 166
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 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 decrease in gross profit resulted from the decreases in revenue for Global Gaming and Tinbu, the decrease in cost of revenue
for Global Gaming, and the net impact of costs and revenue for S&MI during the period which were not present in the three months
ended June 30, 2025.

Operating
Costs and Expenses.

    For the six months Ended June 30,  

    2025  
    2024  
    $ Change  
    % Change 

    Operating expenses: 

    Personnel costs 
     1,125,603  
     2,774,665  
     (1,649,062) 
     -59%
  
    Professional fees 
     2,429,077  
     3,564,038  
     (1,134,961) 
     -32%
  
    General and administrative 
     1,862,541  
     2,917,052  
     (1,054,511) 
     -36%
  
    Depreciation and amortization 
     2,100,958  
     2,615,728  
     (514,133) 
     -20%
  
    Total operating expenses 
     7,518,179  
     11,871,483  
     4,353,304  
     -37%
  
    Loss from operations 
     (7,427,769) 
    $(11,484,523) 
     4,056,754  
     -35%

Operating expenses for the six
months ended June