Lottery.com Inc. ( LTRY ) shares are trading lower on Thursday as investors reacted to weak first-quarter results showing a continued decline in revenue.

What To Know: The company reported $223,850 in revenue for the three months ended March 31, 2025, down 14% from $259,320 in the same period last year.

The drop was likely due to reduced contributions from its TinBu and Global Gaming subsidiaries. Although Lottery.com ( LTRY ) introduced new revenue from its S&M&I subsidiary, which wasn’t present in the prior-year quarter, it wasn't enough to offset broader declines.

Gross profit for the quarter came in at $61,000, a sharp decline from $175,000 last year, representing a 65% drop. Cost of revenue nearly doubled to $162,000 from $83,900, adding further pressure on margins. Operating expenses also fell by 39% year-over-year, aided by reductions in personnel costs, professional fees and general administrative spending.

Net loss narrowed to $3.3 million, or 14 cents per share, compared to a net loss of $5.75 million or $1.40 per share, in the first quarter of 2024. While the smaller loss was a modest improvement, it wasn't enough to reassure investors amid declining top-line performance.

LTRY Price Action: Lottery.com ( LTRY ) shares were down 10.11% at $1.60 at market close Thursday, according to Benzinga Pro.

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