Lottery.com has provided a business update and preliminary results for second quarter 2021 revenue on Monday. The company expects between $9.1 million and $9.6 million revenue on a reported basis and between $10.0 million and $10.5 million on a pro forma basis, including the recently acquired interests in Juega Lotto and Aganar.
“Through the first six months of 2021 our pro forma revenue is tracking ahead of internal estimates and is already more than 60% above the full 12 months of 2020, also on a pro forma basis,” reports the business update, released by parent comapanies AutoLotto and Trident Acquisitions Corp.
Lottery.com remarks that during the last four quarters, ended June 30, 2021, sequential revenue growth averaged approximately 87% per quarter.
The company expects “to achieve similar average growth in the near term”, not including the acquired interests in Juega Lotto and Aganar, which are expected to be further improve revenue growth.
“Based on the progress we are making on several initiatives and historical growth trends, we are forecasting strong sequential growth in the second half of 2021,” said Tony DiMatteo, Chief Executive Officer of Lottery.com.
The update reaffirms Lottery.com’s intentions of executing agreements with new partners, affiliates, and complimentary service providers, which would allow the company to expand its portfolio of products, “providing synergies with our current products and realizing our vision to be a premier global marketplace for all forms of online gaming.”
“Our team has been growing in almost all areas, including an expansion of our product and development teams to support our planned launch of innovative new features and products, which we look forward to showing off,” added DiMatteo.
Additionally, the new update reports on the business combination with Trident. Lottery.com has posted the anticipated next steps required to close the business combination and expects to receive comments from the SEC on the Form S4 by “approximately the middle of August.”
DiMatteo says Lottery.com is “committed” to resolving and responding to said comments on an ongoing basis and having the Form S4 declared effective and closing the combination “as quickly as possible”.
Prior to filing the Form, several crucial matters needed to be completed, reveals the update, including finalizing audited financial statements and closing the acquisition of Juega Lotto and Aganar.
“Some of these matters caused a shift in our anticipated time to close the business combination. However, as an agile and nimble organization, capable of adjusting to change quickly, we have been accounting for this shift as we execute our growth plans and strategic initiatives,” detailed Lottery.com’s CEO.
Vadim Komissarov, Chief Executive Officer of Trident added: “We are pleased with the growth Lottery.com has continued to demonstrate and are optimistic about the Company’s future. Both teams at Trident and Lottery.com are working together and sharply focused on completing our business combination as quickly as possible.”