Snail, Inc. Reports Second Quarter 2026 Financial Results
CULVER CITY, Calif., Aug. 11, 2026 (GLOBE NEWSWIRE) -- Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, today announced financial results for the second quarter ended June 30, 2026.
Second Quarter 2026 and Recent Operational Highlights
ARK Franchise Updates:
Game Portfolio and Business Updates:
Business and Operational Updates
ARK Content Pipeline
Diversified Content Pipeline
Management Commentary
“Over the last several months, we have begun executing against the robust gaming pipeline we previously outlined, which has established a strong foundation for the second half of 2026,” said Snail CEO Hai Shi. “During the second quarter, we launched the ARK: Fantastic Tames Season 1 Pack and brought Bellwright to Xbox and PlayStation, with the console launch providing an important contribution during an otherwise measured quarter for new game releases. Shortly after the second quarter ended, we released three ARK DLC expansion maps: Tides of Fortune, Genesis Part 1 Ascended, and Dragontopia. These launches, together with our broader slate of planned ARK content, have established a strong foundation for the rest of the year. Additionally, we continue to invest in our next generation of internally developed AAA titles, which we view as critical drivers of Snail’s long-term growth profile. For The Stars and 9 Yin Sutra Immortal were showcased across select gaming events over the past several months, demonstrating meaningful development progress and growing visibility for these titles as they move through the later stages of development.
“Operationally, we have made significant progress across a new developing initiative that expands beyond traditional game development and publishing. Just last week, we announced our attendance at the Ai4 2026 conference, where we unveiled the AI Ranch initiative and our new product in development called Non-Human Player (NHP), an AI companion product for consumers designed to learn, adapt, and interact like a real human teammate. NHP is designed to deliver a personalized gaming experience tailored to each user’s playstyle. We believe this technology has the potential to address key challenges casual and hardcore gamers face while creating a personalized AI companion that can help players enjoy and improve their gaming experience across multiple titles.
“The outlook for the second half of 2026 remains strong as we continue to execute across multiple gaming pipelines and business opportunities. With a strong slate of ARK content through 2027, meaningful progress across three upcoming AAA titles, and the introduction of new business initiatives, we are well-positioned to support the transformation of Snail’s profile over the next several quarters.”
Second Quarter 2026 Financial Highlights
Net revenues were $19.7 million compared to $22.2 million in the same period last year. The decrease was primarily due to a $4.2 million decrease in sales of ARK: Survival Ascended, a decrease of $1.8 million from ARK: Survival Evolved, a decrease of $0.4 million from ARK: Ultimate Mobile Edition, a decrease of $0.2 million from SaltyTV, and a decrease of $0.2 million from other various titles, offset by an increase in revenues related to Bellwright of $1.5 million and $2.8 million change in deferred revenues.
Total units sold were 2.0 million units compared to 2.1 million units in the same period last year, primarily driven by lower sales of ARK franchise titles of 0.2 million units, partially offset by an increase in sales of Bellwright of 0.1 million units.
Net loss improved 81.6% to $3.0 million compared to a net loss of $16.6 million in the same period last year. The increase was primarily due to a reduction of $14.0 million in the income tax provision from the prior-year quarter and an improvement in gross profit, partially offset by higher general and administrative and research and development expenses.
Bookings were $21.8 million compared to $27.1 million in the same period last year. The decrease was primarily due to lower sales of ARK: Survival Ascended and ARK: Survival Evolved, partially offset by bookings generated from Bellwright.
EBITDA was $(3.0) million compared to $(2.4) million in the same period last year. The decrease was primarily due to an improvement in net loss of $13.5 million and a decrease in depreciation expense of $0.1 million, more than offset by a decrease in the provision of income taxes of $14.0 million.
Six Months 2026 Financial Highlights
Net revenues increased 11.1% to $47.0 million compared to $42.3 million in the same period last year. The increase was primarily attributed to a $3.6 million increase in sales of Bellwright and a $5.3 million change in deferred revenues, partially offset by a decrease in ARK: Survival Evolved revenue of $2.7 million and a decrease of $1.4 million attributable to lower sales of ARK: Survival Ascended.
Total units sold increased 13.8% to 4.2 million units compared to 3.7 million units in the same period last year. The increase was primarily due to increased sales of ARK: Survival Ascended of 1.0 million units and an increase in Bellwright of 0.2 million units; partially offset by a decrease in ARK: Survival Evolved sales of 0.7 million units.
Net loss improved 95.1% to $(0.9) million compared to $(18.5) million in the same period last year. The improvement was primarily due to the absence of the $12.4 million income tax provision recorded in the prior-year period, which resulted from the valuation allowance recognized against the Company’s deferred tax assets, together with a $6.5 million improvement in gross profit.
Bookings were $48.7 million compared to $49.4 million in the same period last year. The decrease was primarily due to lower sales of ARK: Survival Evolved as the title continued to mature and consumer demand shifted toward ARK: Survival Ascended and its related downloadable content, partially offset by increased sales of ARK: Survival Ascended and Bellwright, which benefited from promotional pricing during the period.
EBITDA improved 88.8% to $(0.6) million compared to $(5.8) million in the same period last year. The improvement was primarily due to an improvement in net loss of $17.6 million, partially offset by a decrease in the provision for income taxes of $12.4 million.
As of June 30, 2026, unrestricted cash was $13.3 million compared to $8.6 million as of December 31, 2025.
Use of Non-GAAP Financial Measures
In addition to the financial results determined in accordance with U.S. generally accepted accounting principles, or GAAP, Snail believes Bookings and EBITDA, as non-GAAP measures, are useful in evaluating its operating performance. Bookings and EBITDA are non-GAAP financial measures that are presented as supplemental disclosures and should not be construed as alternatives to net income (loss) or revenue as indicators of operating performance, nor as alternatives to cash flow provided by operating activities as measures of liquidity, both as determined in accordance with GAAP. Snail supplementally presents Bookings and EBITDA because they are key operating measures used by management to assess financial performance. Bookings adjusts for the impact of deferrals and, Snail believes, provides a useful indicator of sales in a given period. Management believes Bookings and EBITDA are useful to investors and analysts in highlighting trends in Snail’s operating performance. At the same time, other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which Snail operates, and capital investments.
Bookings is defined as the net amount of products and services sold digitally or physically in the period. Bookings is equal to revenues, excluding the impact from deferrals. Below is a reconciliation of total net revenue to Bookings, the closest GAAP financial measure.
We define EBITDA as net income (loss) before (i) interest expense, (ii) interest income, (iii) provision for (benefit from) income taxes and (iv) depreciation expense. The following table provides a reconciliation from net income (loss) to EBITDA:
Webcast Details
The Company will host a webcast at 4:30 PM ET today to discuss its second quarter 2026 financial and operational results. Participants may access the live webcast and replay via the link here or on the Company’s investor relations website at https://investor.snail.com/.
About Snail, Inc.
Snail, Inc. (Nasdaq: SNAL) is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs, and mobile devices. For more information, please visit: https://snail.com/.
Forward-Looking Statements
This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “may,” “predict,” “continue,” “estimate” and “potential,” or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements regarding Snail’s intent, belief or current expectations. These forward-looking statements include information about possible or assumed future results of Snail’s business, financial condition, results of operations, liquidity, plans and objectives. The statements Snail makes regarding the following matters are forward-looking by their nature: recent game launches and the Company's broader slate of planned content establishing a strong foundation for the rest of the year; the Company's next generation of internally developed AAA titles serving as critical drivers of Snail’s long-term growth profile; the For The Stars and 9 Yin Sutra Immortal titles demonstrating meaningful development progress and growing visibility and moving through the later stages of development; the AI Ranch initiative and the development of the Non-Human Player (NHP) product; the Company's gaming pipeline being well-positioned to support the transformation of the Company's profile ;the Non-Human Player (NHP) having the potential to address key challenges casual and hardcore gamers face while creating a personalized AI companion that can help players enjoy and improve their gaming experience across multiple titles; and the outlook for the second half of 2026 remaining strong as Snail continues to execute across multiple gaming pipelines and business opportunities.
Any forward-looking statements included herein reflect our current views, and they involve certain risks and uncertainties, including, among others, acceptance of our titles in the marketplace and the successful development, marketing or sale of our titles and our ability to retain our key employees or maintain our Nasdaq listing. These risks should not be construed as exhaustive and should be read together with the other cautionary statement included in our Annual Report on Form 10-K for the year ended December 31, 2025, subsequent Quarterly Reports on Form 10-Q and current reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it was initially made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.
Investor Contact:
John Yi and Steven Shinmachi
Gateway Group, Inc.
949-574-3860
SNAL@gateway-grp.com