Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 252

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part II, Item 8
Chunk 252
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40,389  
     77,822  
     (37,433) 
     -48%

    Net loss before income tax 
    $(3,987,901) 
    $(5,967,516) 
     1,979,615  
     -33%
  
    Income tax expense (benefit) 
     4,150  
     4,150  
     0  
     0%
  
    Net loss 
     (3,992,051) 
     (5,971,666) 
     1,979,615  
     -33%

Revenue.

Revenue. Revenue for the
three months ended June 30, 2025 was $192,000, a decrease of $65,000, or 25%, compared to revenue of $257,000 for the three months ended
June 30, 2024. The decrease is the net effect of decreases of $50,000 for Global Gaming and $62,000 for TinBu in 2025 vs 2024 offset by
$47,000 in revenue for the S&MI subsidiary which was not present in the three 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
for the three months ended June 30, 2025 was $163,000 thousand, an increase of $117,000, or 257%, compared to cost of revenue of $46,000
for the three months ended June 30, 2024. The primary driver of the increase is $130,000 in cost of revenue for the S&MI subsidiary
which was not present in the three months ended June 30, 2024 which was partially offset by a decrease of $13,000 for Global Gaming in
the three months ended June 30, 2025.

Gross Profit. Gross profit
for the three months ended June 30, 2025 was $29,000 compared to $211,000 for the three months ended June 30, 2024, a decrease of $182,000,
or 86%. The decrease in gross profit resulted from the decreases in revenue for Global Gaming and Tinbu 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,