Company: LTRYW
Filing Date: 2025-01-16
Form Type: POS AM
Source: 0001493152-25-002444
Chunk: 305

Company: Lottery.com Inc.
Filing Date: 2025-01-16
Form: POS AM
Chunk 305
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:--------------------------------|-----------:|:----|:----|-----------:|:----|:----|------------:|:--|:----|:----|---------:|:--|
| Operating expenses:           |     |                                 |            |     |     |            |     |     |             |   |     |     |          |   |
| Personnel costs               |     |                                 |  4,570,206 |     |     | 37,114,485 |     |     | (32,544,279 | ) |     |     |      -88 | % |
| Professional fees             |     |                                 |  6,741,837 |     |     |  6,613,546 |     |     |     128,291 |   |     |     |        2 | % |
| General and administrative    |     |                                 |  9,484,681 |     |     |  9,012,673 |     |     |     472,008 |   |     |     |        5 | % |
| Depreciation and amortization |     |                                 |  5,691,322 |     |     |  5,601,374 |     |     |      89,948 |   |     |     |        1 | % |
| Total operating expenses      |     |                                 | 26,488,046 |     |     | 58,342,078 |     |     | (31,854,032 | ) |     |     |      -55 | % |

Operating expenses for the year ended December 31, 2023 were $26.5 million, a decrease of $31.8 million, or 55%, compared to $58.3 million for the year ended December 31, 2022. The decrease was primarily driven by decreased stock compensation expense, decreased headcount, decreased marketing spend and decreased depreciation and amortization expenses during the 2023 fiscal year.

Personnel Costs.Personnel costs decreased by $32.5 million, or 88%, from $37.1 million for the year ended December 31, 2022, to $4.6 million for the year ended December 31, 2023. The decrease was due primarily to decreases in stock compensation expense by $25.7 million combined with lower headcount in 2023.

Professional Fees.Professional fees increased by $128 thousand, or