{"schema_version":"secwatch.filing_event.v1","accession":"0001104659-23-058432","form_type":"8-K","ticker":"SNAL","cik":"0001886894","company_name":"Snail, Inc.","filed_at":"2023-05-10T23:59:59+00:00","discovered_at":"2026-05-14T18:03:41.503888+00:00","generated_at":"2026-06-15T07:12:57.211534+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Snail Q1 revenue $13.5M (-52% YoY); net loss $3.0M vs income $5.8M","bullets":["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."],"urls":{"canonical":"https://secwatch.observer/filing/0001104659-23-058432","json":"https://secwatch.observer/filing/0001104659-23-058432.json","markdown":"https://secwatch.observer/filing/0001104659-23-058432.md","text":"https://secwatch.observer/filing/0001104659-23-058432.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1886894/000110465923058432/0001104659-23-058432-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1886894/000110465923058432/tm2315320d1_8k.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-15T07:12:57.211534+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"012abfecb4d467deb296d2bdf658fe18a010ccaa","claim":"Snail, Inc. reported three months ended March 31, 2023 results: revenue $13.5 million, net income Net loss was $3.0 million.","evidence_excerpt":"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","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1886894/000110465923058432/0001104659-23-058432-index.htm","confidence":0.95,"family_label":"Earnings Releases","details":[{"label":"Period","value":"three months ended March 31, 2023"},{"label":"Revenue","value":"$13.5 million"},{"label":"Net income","value":"Net loss was $3.0 million"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}