---
schema_version: "secwatch.filing_event.v1"
accession: "0001493152-25-021904"
form_type: "8-K"
ticker: "SNAL"
cik: "0001886894"
company_name: "Snail, Inc."
filed_at: "2025-11-12T23:59:59+00:00"
generated_at: "2026-05-16T21:38:16.960399+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Snail Q3 revenue $13.8M down 39% YoY; net loss $7.9M; bookings up 9.3%

## Summary
- Net loss of $7.9M vs net income $0.2M in Q3 2024; EBITDA was $(9.7)M.
- Net revenues $13.8M down 39% YoY; deferred revenue rose to $36.4M, with $5.8M expected in Q4 from ARK Lost Colony launch.
- Bookings grew 9.3% to $17.6M YoY, driven by ARK promotions and pre-sales.
- ARK franchise: ASE units 576k, ASA 499k units in Q3; total ARK sales up $2.2M YoY.
- Stablecoin infrastructure development and multi-state regulatory licensing progressing.

## SEC filing metadata
- accession: 0001493152-25-021904
- form_type: 8-K
- ticker: SNAL
- cik: 0001886894
- company_name: Snail, Inc.
- filed_at: 2025-11-12T23:59:59+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/1886894/000149315225021904/0001493152-25-021904-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1886894/000149315225021904/form8-k.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001493152-25-021904
- JSON: https://secwatch.observer/filing/0001493152-25-021904.json
- Plain text: https://secwatch.observer/filing/0001493152-25-021904.txt

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