0001493152-26-022711
SEC filingSnail, Inc. reported Q1 2026 net revenues of $27.3 million, up 35.7% year-over-year, with net income of $2.1 million versus a prior-year loss.
Snail, Inc. delivered strong Q1 2026 results with net revenues surging 35.7% to $27.3 million, primarily fueled by $4.2 million from ARK: Survival Ascended (ASA) and $2.1 million from Bellwright, alongside $2.5 million in deferred revenue recognition. This offset declines in ARK Mobile and Survival Evolved (ASE). Units sold jumped 42.6% to 2.2 million, reflecting robust ARK franchise demand with ASA selling 1.4 million units and averaging 127,000 DAU. Net income flipped to $2.1 million from a $1.9 million loss, supported by higher revenues, a $0.3 million drop in operating expenses, though tempered by higher cost of revenues and taxes. Non-GAAP Bookings rose 21.1% to $26.9 million on better promotions and prior DLC momentum, while EBITDA improved sharply to $2.4 million. Balance sheet shows unrestricted cash up to $14.3 million from $8.6 million at year-end, with total assets at $56.8 million versus $59.3 million. CEO Hai Shi highlighted tailwinds from ASA pipeline and ARK Lost Colony DLC, targeting Q2 year-over-year growth via May's Fantastic Tames pack and June's Tides of Fortune and Genesis Part 1 remake, unlocking $11 million deferred revenue. Broader strategy emphasizes AAA titles like For The Stars and Nine Yin Sutra series for diversification beyond ARK, positioning the next 12-18 months as an inflection point.