Lottery.com (NASDAQ: LTRY, LTRYW), a leading technology company that is transforming how, where and when the lottery is played, has reported its Q3 2021 numbers for the period ended Sept. 30, 2021. Highlights of the report include third-quarter revenue reaching $32.2 million with a net income of $11.2 million; the company noted that the growth was driven by itsglobal affiliate marketing program. Gross profit for the period totaled $20.3 million, an increase of $19.4 million from Q3 2020, with third-quarter 2021 net income reaching $11.2 million, compared to a net loss of $1.2 million for the same period last year. These results were achieved prior to the closing of the company’s business combination with Trident Acquisitions Corp., which was completed on Oct. 29, 2021. “We are proud of the strong revenue and profitability growth we achieved in the third quarter,” said Lottery.com cofounder and CEO Tony DiMatteo in the press release. “While we were working toward the completion of our business combination, we acted decisively to advance our plans for our global affiliate program and monetize one of our assets by leveraging a B2B partner relationship. The start of this program provided increased revenue in the third quarter and is an essential building block of our B2B2C strategy, which we expect will lead to an increased user base and additional revenue from those end users going forward. Additionally, the implementation of a dynamic pricing model and improvements to our app, such as push notifications, contributed to strong growth in gross profit per transaction compared to the prior year period. . . . Now that we have successfully completed our business combination, we are focused on utilizing the proceeds we realized from the transaction, along with our third-quarter profits, to accelerate our targeted user marketing campaigns, enter new markets, expand our product offerings, and execute strategic and synergistic acquisitions. With our low customer-acquisition costs, large addressable markets and leading brands, we look forward to realizing the profitable growth opportunities before us.”
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About Lottery.com
Lottery.com is a leading technology company that is transforming how, where and when lottery is played. Its engaging mobile and online platforms enable players and commercial partners located in the United States and around the world to remotely purchase legally sanctioned lottery games. Fans and subscribers look to Lottery.com for compelling, real-time results on more than 800 lottery games from more than 40 countries. Additionally, through WinTogether.org, Lottery.com is fundamentally changing how nonprofit donors are incentivized to action by gamifying charitable giving. In all that it does, Lottery.com’s mission remains the same: an uncompromising passion to innovate, grow a new demographic of enthusiasts, deliver responsible and trusted solutions, and promote community and philanthropic initiatives. To learn more about the company, visit www.Lottery.com.
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