NetworkNewsBreaks – Lottery.com (NASDAQ: LTRY) R
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Posted On: 03/31/2022 3:09:57 PM
NetworkNewsBreaks – Lottery.com (NASDAQ: LTRY) Releases Q4, Full-Year Results
Lottery.com (NASDAQ: LTRY), a leading technology company that is transforming how, where and when the lottery is played, is reporting its fourth-quarter and full-year 2021 revenue for the period ending Dec. 31, 2021. Q4 revenue totaled $21.5 million, an increase of $18.2 million over the previous year, with full-year revenue of $68.5 million, an increase of $61 million over 2020 numbers. The company also reported full-year 2021 pro forma revenue of $70.5 million, including acquired interest in Mexican entities, with full-year 2021 net loss of $9.3 million and adjusted EBITDA of $31.1 million. Corporate highlights include the company’s successful completion of its business combination with Trident Acquisitions Corp. with growth coming from the sale of LotteryLink credits to a LotteryLink affiliate; the company also sold LotteryLink credits for marketing materials, product development and $3 million in prepaid advertising credits. “In the fourth quarter and throughout 2021, we demonstrated our ability to execute our strategic growth initiatives across the business to generate strong revenue growth and gross profit,” said Lottery.com cofounder and CEO Tony DiMatteo in the press release. “B2C sales increased compared to the prior year period, despite no digital marketing spending. LotteryLink, our affiliate program, expanded and generated multiple revenue streams. I am extremely proud of our team achieving these accomplishments while successfully closing the business combination and taking our company public. We entered 2022 with positive momentum and continued focus on executing our strategic growth plan. Fueled by approximately $43 million of proceeds from our business combination and $30 million received from the sale of LotteryLink credits, we are investing in initiatives to drive growth.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
Lottery.com (NASDAQ: LTRY), a leading technology company that is transforming how, where and when the lottery is played, is reporting its fourth-quarter and full-year 2021 revenue for the period ending Dec. 31, 2021. Q4 revenue totaled $21.5 million, an increase of $18.2 million over the previous year, with full-year revenue of $68.5 million, an increase of $61 million over 2020 numbers. The company also reported full-year 2021 pro forma revenue of $70.5 million, including acquired interest in Mexican entities, with full-year 2021 net loss of $9.3 million and adjusted EBITDA of $31.1 million. Corporate highlights include the company’s successful completion of its business combination with Trident Acquisitions Corp. with growth coming from the sale of LotteryLink credits to a LotteryLink affiliate; the company also sold LotteryLink credits for marketing materials, product development and $3 million in prepaid advertising credits. “In the fourth quarter and throughout 2021, we demonstrated our ability to execute our strategic growth initiatives across the business to generate strong revenue growth and gross profit,” said Lottery.com cofounder and CEO Tony DiMatteo in the press release. “B2C sales increased compared to the prior year period, despite no digital marketing spending. LotteryLink, our affiliate program, expanded and generated multiple revenue streams. I am extremely proud of our team achieving these accomplishments while successfully closing the business combination and taking our company public. We entered 2022 with positive momentum and continued focus on executing our strategic growth plan. Fueled by approximately $43 million of proceeds from our business combination and $30 million received from the sale of LotteryLink credits, we are investing in initiatives to drive growth.”
Please see full disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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