Lottery.com has reported its FY2021 Q3 preliminary revenue results, revealing a predicted sales growth of 135% from Q2.
For the period ending September 30, Lottery.com expects revenue to be between $22m and $24m, representing around135$ sequential growth from the $9.3m revenue reported in Q2.
The lottery tech firm attributed the success of the period to its B2B segment, which saw sales increase significantly.
The preliminary results have been published at a time when its business combination with Trident Acquisitions edges closer to its completion. This week, it was confirmed that the duo’s S-4 file was approved by the US Securities and Exchange Commission, meaning that the two parties can formally continue with the process.
Trident intends to hold a meeting with its shareholders to conduct a vote on the proposed business combination plan amongst other proposals. Following the meeting, the business combination is set to be finalised, subject to stockholder approvals and satisfaction of other customary closing conditions.
Tony DiMatteo, Chief Executive Officer of Lottery.com, commented on the preliminary results: “I am proud of our strong third-quarter preliminary results, which our team achieved while also focusing on completing our business combination. Lottery.com is a nimble organization with multiple avenues for growth and we have demonstrated our ability to generate very positive results with modest capital.
“With the completion of our business combination expected in the very near future, we anticipate using the proceeds from the business combination to accelerate growth by leveraging our favorable customer acquisition costs in continuing to expand our customer base.”