Lottery.com Inc. reported its financial results for the second quarter of 2025, revealing a revenue of $191,762, a decrease of 25% from $256,998 in the same period last year. For the first half of 2025, the company generated $415,611 in revenue, down 20% from $516,317 in the first half of 2024. The decline in revenue was attributed to decreases in contributions from its Global Gaming and TinBu subsidiaries, partially offset by new revenue from the S&MI subsidiary, which was not operational in the previous year. The cost of revenue surged to $162,733 in Q2 2025, compared to $45,570 in Q2 2024, primarily due to costs associated with the S&MI subsidiary.
Operating expenses for the second quarter decreased significantly to $3.98 million, down 35% from $6.1 million in the prior year. This reduction was driven by a 75% decrease in personnel costs, which fell from $1.79 million to $438,966, as well as lower professional fees and general administrative expenses. The company reported a loss from operations of $3.95 million, an improvement of 33% compared to a loss of $5.89 million in Q2 2024. The net loss for the quarter was $3.99 million, compared to a net loss of $5.97 million in the same quarter last year.
In terms of strategic developments, Lottery.com has been focusing on its "Buy-and-Build" strategy, which aims to enhance its operations in the sports, entertainment, and gaming markets. The company has made significant moves, including the acquisition of S&MI, which is expected to contribute to its revenue streams. Additionally, the company is in the process of rebranding itself as SEGG Media Corporation, reflecting its broader focus on sports and entertainment. The company also announced plans to launch a new sports streaming platform, Sports.com, which aims to engage audiences through various content offerings.
Operationally, Lottery.com has been working to resume its core business activities following a period of operational cessation. The company has developed a three-phase plan to restart its gaming operations, with the first phase involving the resumption of sweepstakes operations, which began in April 2025. The second phase aims to relaunch its B2C platform by the end of 2025, initially targeting international markets before expanding to the U.S. The third phase includes monetizing the Sports.com brand and expanding its offerings in the entertainment sector.
Looking ahead, Lottery.com faces significant challenges, including the need for additional capital to support its operations and the potential for further operational losses. The company has raised concerns about its ability to continue as a going concern, given its accumulated deficit of approximately $270.9 million as of June 30, 2025. The management is actively seeking financing options, including equity and debt securities, to ensure the company's sustainability and growth in the competitive gaming and entertainment landscape.
About Lottery.com Inc.
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