Snail, Inc. Reports First Quarter 2026 Financial Results

CULVER CITY, Calif., May 13, 2026 (GLOBE NEWSWIRE) -- Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, today announced financial results for the first quarter ended March 31, 2026.

First Quarter 2026 and Recent Operational Highlights

ARK Franchise Updates:

• ARK: Survival Evolved (“ASE”):

  • Units sold were approximately 573,000 for the first quarter of 2026

  • During the first quarter of 2026, average daily active users (“DAU”) was 117,000 and peak DAU was 143,000

• ARK: Survival Ascended (“ASA”):

  • Units sold were approximately 1.4 million for the first quarter of 2026

  • During the first quarter of 2026, average DAU was 127,000 and peak DAU was 188,000

• ARK: Ultimate Mobile Edition (“ARK Mobile”):

  • 11.9 million downloads as of March 31, 2026

  • During the first quarter of 2026, average DAU was 141,000
    

Game Portfolio and Business Updates:

• For The Stars

  • Released new developer diary, offering an in-depth look at the upcoming AAA title’s current development progress, including new pre-alpha footage and previously unreleased concept art

  • Revealed event-exclusive trailer during 2026 Games Developers Conference (“GDC”)

• Introduced PixARK Worlds, a new title in development that features revolutionary user-generated content designed to further expand the ARK universe on Steam, Xbox, PlayStation, and the Nintendo Switch 2

• Bellwright

  • Surpassed 1 million downloads on Steam Early Access, announced console port plans to Xbox and PlayStation, and launched the Maiden Voyage update.

• Launched Echoes of Elysium on Steam Early Access in partnership with Loric Games

• Launched Survivor Merc’s 1.0 version across Steam, Xbox, and PlayStation

• Launched Above the Snow on Steam

• Announced publishing agreement for co-op party action title Dead Party

• Unveiled new upcoming indie title, Gobby Gang, at 2026 GDC

• As of March 31, 2026, SaltyTV released 250+ short film dramas

ARK Content Pipeline

Diversified Content Pipeline

Management Commentary

“We exited 2025 with tailwinds that positioned Snail for stronger and more stable growth and results,” said Company CEO Hai Shi. “Momentum from the ASA pipeline we announced in December, the launch of ARK Lost Colony DLC, and the subsequent Steam Winter Sale event supported net revenue growth and a return to net income positive. Looking ahead, we aim to deliver year-over-year growth in Q2, driven by several upcoming ARK content releases. We have a Fantastic Tames Season 1 Expansion Pack coming in May 2026, and ARK Tides of Fortune to launch alongside the remake of Genesis Part 1 coming to ASA in June 2026 to provide a foundation for the quarter to build on. Approximately $11 million from our deferred revenue backlog is expected to be recognized upon the release of Genesis Part 1.

“Beyond ARK, Snail Games continues to execute on its strategy to eventually become a fully integrated game developer and publisher. Our upcoming AAA titles represent an important step toward building new franchises with the potential for multi-year to multi-decade game lifespans that can complement the scale of ASE and ASA. As previously disclosed, these projects have entered their final phases of development, and the eventual launch of these games position us to meaningfully diversify our revenue mix beyond ARK. With multiple gaming events and planned updates throughout the year, we look forward to sharing additional information on For the Stars, Nine Yin Sutra: Immortal, and Nine Yin Sutra: Wushu.

“The next 12-18 months will serve as an inflection period for Snail Games as we work to advance our ARK pipeline and deliver on the investments we have made across our broader pipeline. Over time, our ambition is for Snail Games to be recognized not only for ARK, but as a developer and publisher of multiple renown IPs and titles. We remain focused on unlocking the value of our pipeline and delivering results.”

First Quarter 2026 Financial Highlights

Net revenues increased 35.7% to $27.3 million compared to $20.1 million in the same period last year. The increase was primarily due to an increase of $4.2 million and $2.1 million in revenue related to ASA and Bellwright, respectively, and a $2.5 million increase in deferred revenue recognized during the period, offset by a decrease in revenue from ARK Mobile and ASE of $1.6 million.

Total units sold increased 42.6% to 2.2 million units compared to 1.5 million units in the same period last year, primarily driven by an increase in sales of ARK franchise IPs of 0.5 million units and Bellwright of 0.2 million units.

Net income increased 210% to $2.1 million compared to a net loss of $1.9 million in the same period last year. The increase was primarily due to an increase in net revenue of $7.2 million and a decrease in total operating expenses of $0.3 million partially offset by an increase in provision for income taxes of $1.6 million, an increase in cost of revenues of $1.4 million and a decrease in total other income, net of $0.5 million.

Bookings increased 21.1% to $26.9 million compared to $22.2 million in the same period last year. The increase was primarily due to better sales promotions in 2026 compared to 2025, tailwind momentum from the December 2025 ARK: Lost Colony DLC release, and Bellwright’s highly regarded content update in late 2025.

EBITDA increased 173.3% to $2.4 million compared to $(3.2) million in the same period last year. The increase was primarily due to an increase in net income of $4.1 million and a decrease in the benefit from income taxes of $1.6 million.

As of December 31, 2025, unrestricted cash was $14.3 million compared to $8.6 million as of December 31, 2025.

Use of Non-GAAP Financial Measures

In addition to the financial results determined in accordance with U.S. generally accepted accounting principles, or GAAP, Snail believes Bookings and EBITDA, as non-GAAP measures, are useful in evaluating its operating performance. Bookings and EBITDA are non-GAAP financial measures that are presented as supplemental disclosures and should not be construed as alternatives to net income (loss) or revenue as indicators of operating performance, nor as alternatives to cash flow provided by operating activities as measures of liquidity, both as determined in accordance with GAAP. Snail supplementally presents Bookings and EBITDA because they are key operating measures used by management to assess financial performance. Bookings adjusts for the impact of deferrals and, Snail believes, provides a useful indicator of sales in a given period. Management believes Bookings and EBITDA are useful to investors and analysts in highlighting trends in Snail’s operating performance, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which Snail operates and capital investments.

Bookings is defined as the net amount of products and services sold digitally or physically in the period. Bookings is equal to revenues, excluding the impact from deferrals. Below is a reconciliation of total net revenue to Bookings, the closest GAAP financial measure.

We define EBITDA as net income (loss) before (i) interest expense, (ii) interest income, (iii) provision for (benefit from) income taxes and (iv) depreciation expense. The following table provides a reconciliation from net income (loss) to EBITDA:

Webcast Details

The Company will host a webcast at 4:30 PM ET today to discuss its first quarter 2026 financial and operational results. Participants may access the live webcast and replay via the link here or on the Company’s investor relations website at https://investor.snail.com/.

About Snail, Inc.

Snail, Inc. (Nasdaq: SNAL) is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs, and mobile devices. For more information, please visit: https://snail.com/.

Forward-Looking Statements

This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “may,” “predict,” “continue,” “estimate” and “potential,” or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements regarding Snail’s intent, belief or current expectations. These forward-looking statements include information about possible or assumed future results of Snail’s business, financial condition, results of operations, liquidity, plans and objectives. The statements Snail makes regarding the following matters are forward-looking by their nature: exiting 2025 with tailwinds that position the Company for stronger and more stable growth and results; delivering year-over-year growth in Q2 driven by several upcoming ARK content releases; releasing Fantastic Tames Season 1 Expansion Pack in May 2026 and ARK Tides of Fortune alongside the remake of Genesis Part 1 coming to ASA in June 2026 providing a foundation for the quarter to build on; recognizing approximately $11 million of deferred revenue backlog upon the release of Genesis Part 1; continuing to execute on the Company’s strategy to become a fully integrated game developer and publisher; the upcoming AAA titles representing an important step toward building new franchises with the potential for multi-year to multi-decade game lifespans that can complement the scale of ASE and ASA; the eventual launch of the upcoming games positioning the Company to meaningfully diversify our revenue mix beyond ARK; sharing additional information on For the Stars, Nine Yin Sutra: Immortal, and Nine Yin Sutra: Wushu; the next 12-18 months being an inflection period for the Company as it advances its ARK pipeline and delivers on the investments it has have made across its broader pipeline; the Company being recognized not only for ARK, but as a developer and publisher of multiple renown IPs and titles; and remaining focused on unlocking the value of the Company pipeline and delivering results.

Any forward-looking statements included herein reflect our current views, and they involve certain risks and uncertainties, including, among others, acceptance of our titles in the marketplace and the successful development, marketing or sale of our titles and our ability to retain our key employees or maintain our Nasdaq listing. These risks should not be construed as exhaustive and should be read together with the other cautionary statement included in our Annual Report on Form 10-K for the year ended December 31, 2025, subsequent Quarterly Reports on Form 10-Q and current reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it was initially made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.

Investor Contact:

John Yi and Steven Shinmachi
Gateway Group, Inc.
949-574-3860
[email protected]