Company: LTRYW
Filing Date: 2025-08-19
Form Type: 10-Q
Source: 0001641172-25-024882
Chunk: 70

Company: Lottery.com Inc.
Filing Date: 2025-08-19
Form: 10-Q
Item: Part I, Item 1
Chunk 70
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 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, 2025.

11

Operating
Costs and Expenses.

    For the three months Ended June 30,  

    2025  
    2024  
    $ Change  
    % Change 

    Operating expenses: 

    Personnel costs 
     438,966  
     1,789,986  
     (1,225,603) 
     -75%
  
    Professional fees 
     1,339,869  
     1,545,083  
     (205,214) 
     -13%
  
    General and administrative 
     1,123,574  
     1,435,307  
     (311,733) 
     -22%
  
    Depreciation and amortization 
     1,074,132  
     1,330,746  
     (256,614) 
     -19%
  
    Total Operating Expenses 
     3,976,541  
     6,101,122  
     (2,124,581) 
     -35%
  
    Loss from operations 
     (3,947,512) 
     (5,889,694) 
     1,942,182  
     -33%

Operating expenses for the three
months ended June 30