Snail Q1 revenue $13.5M (-52% YoY); net loss $3.0M vs income $5.8M

Snail, Inc.

2023-Q1 EPS reported -$0.08 revenue$13,458,488

Revenue $13.5M down from $28.1M YoY; lower ARK average price, deferred revenue, and one-off payments drove decline.
Net loss $3.0M vs net income $5.8M in prior year; EBITDA loss $3.4M vs gain $7.2M.
ARK franchise sold ~1.6M units in Q1 2023 (up from 1.2M YoY); DAUs 276,144 vs 257,168.
Unrestricted cash $4.1M at Mar 31, 2023, down from $12.9M at Dec 31, 2022.
ARK: Survival Ascended expected later 2023; ARK 2 delayed to 2024 to improve quality.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.95

Snail, Inc. reported three months ended March 31, 2023 results: revenue $13.5 million, net income Net loss was $3.0 million.

Period: three months ended March 31, 2023
Revenue: $13.5 million
Net income: Net loss was $3.0 million
Result: reported results

Exact text from the filing

players, while also establishing a solid foundation for a successful launch of ARK 2 .” First Quarter 2023 and Subsequent Financial and Business Highlights · Revenue was $13.5 million for the three months ended March 31, 2023, compared to revenue of $28.1 million in the prior year period, representing a decrease of $14.6 million. The decrease in net revenues

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Snail, Inc. filing history →

Source: SEC EDGAR

accession 0001104659-23-058432

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