LTRY - Lottery.com rises after strong Q3 revenue and profitability growth

Lottery.com (NASDAQ:LTRY) has surged +8.33% pre-market after reporting strong revenue and profitability growth in Q321. Revenue totaled $32.2M, an increase of $30.6M from Q320. The growth was led by the global affiliate marketing program. Gross margin was 63% vs. 54.9% in Q320. User metrics: revenue per transaction was $9.52 (vs. $8.20 in Q320) and gross margin per transaction was 17.8% (vs. 11.3%). Q3 net income came to $11.2M, compared to a net loss of $1.2M in the prior year quarter. The improvement was driven by the increase in gross profit partially offset by expenses associated with the business combination with Trident Acquisitions (TDACU). CEO update: "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

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Lottery.com rises after strong Q3 revenue and profitability growth