secwatch.observer — SEC 8-K summary
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Issuer:     Snail, Inc. (SNAL)
CIK:        0001886894
Form:       8-K
Filed at:   2023-05-10T23:59:59+00:00
Accession:  0001104659-23-058432
Event type: earnings
Sentiment:  negative
Materiality: 0.75
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

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

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1886894/000110465923058432/0001104659-23-058432-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1886894/000110465923058432/tm2315320d1_8k.htm
  HTML page:      https://secwatch.observer/filing/0001104659-23-058432

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer