Earnings Releases·Nov 12, 2026, 4:10 PM ET

Snail, Inc. — Third Quarter 2026 Earnings Summary

Q3 2026 net revenues surged 139.2% year-over-year to $33.1 million, while net income turned positive at $6.7 million, reversing a $7.9 million loss in the prior year period; EBITDA also improved to $7.2 million from a $9.7 million loss.
Total units sold increased 73.3% to 2.0 million in Q3, driven primarily by $4.9 million in ARK: Survival Ascended (ASA) sales, alongside a 30.4% rise in bookings to $23.0 million.
Management expects Q4 performance to be supported by the December 2026 release of ARK: Dragontopia and an established content pipeline extending through 2027, with multiple AAA titles advancing toward key milestones.
Balance sheet health improved significantly as total liabilities decreased to $61.23 million and stockholders' deficit narrowed to $(9.74) million, while unrestricted cash rose to $12.1 million.
Capital structure adjustments included $4.8 million in net proceeds from an at-the-market offering and $866,250 in debt converted to equity, while share count increased to 3.2 million.