---
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"
generated_at: "2026-06-15T07:12:57.211534+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

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

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001104659-23-058432
- JSON: https://secwatch.observer/filing/0001104659-23-058432.json
- Plain text: https://secwatch.observer/filing/0001104659-23-058432.txt

## Key facts
- Earnings Releases
  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
  source text: 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_url: https://www.sec.gov/Archives/edgar/data/1886894/000110465923058432/0001104659-23-058432-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.