| Metric | Value ($ M) | Q2 FY25 | Q3 FY24 |
|---|---|---|---|
| Revenue | 13.82 | 37.7% | 38.7% |
| Total Income | 13.82 | 37.7% | 38.7% |
| Expenditure | 23.67 | 1.4% | 7.0% |
| PBT | -9.43 | 250.6% | 2517.9% |
| Net Profit | -7.86 | 52.5% | 3375.0% |
| OPM | -71.28% | 63.09pp | 73.08pp |
| NPM | -56.91% | 17.74pp | 57.95pp |
| EPS | -0.21 | 52.3% | 2200.0% |
Snail, Inc. Reports Q3 2025 Financial Results
04 May 2026 · 4 May, 7:26 am
Summary
Snail, Inc. reported a decrease in net revenues for the third quarter 2025, with $13.8 million compared to $22.5 million in the same period last year, primarily due to an increase in deferred revenue. Total ARK sales increased by $2.2 million, driven by ARK: Survival Ascended and ARK: Aquatica. Bookings increased by 9.3% to $17.6 million. The company reported a net loss of $(7.9) million, compared to a net income of $0.2 million in the same period last year. The company expects to recognize $5.8 million of deferred revenue during the fourth quarter 2025 with the launch of ARK Lost Colony.
Key Highlights
- 1
Net revenues were $13.8 million compared to $22.5 million in the same period last year, primarily due to an increase in deferred revenue.
- 2
Total ARK sales increased by $2.2 million, mainly attributed to ARK: Survival Ascended and ARK: Aquatica.
- 3
Bookings increased 9.3% to $17.6 million compared to $16.1 million in the same period last year.
- 4
Net loss was $(7.9) million compared to net income of $0.2 million in the same period last year.
- 5
As of September 30, 2025, unrestricted cash was $12.3 million compared to $7.3 million as of December 31, 2024.
- 6
Nine months net revenues were $56.1 million compared to $58.3 million in the same period last year.
- 7
Nine months bookings increased 14.3% to $67.0 million compared to $58.7 million in the same period last year.
Management Comments
Hai Shi
“The third quarter continued to deliver strong ARK engagement and sales, numerous engagement opportunities across our indie portfolio, and growing traction in our SaltyTV short film drama business,” said Snail, Inc. CEO Hai Shi. “Our reported top-line performance does not fully capture the underlying growth we are experiencing due to the revenue recognition timing of deferred revenue increasing to approximately $10.9 million. However, ARK sales continued to grow year-over-year, driven by both ARK: Lost Colony pre-sale and the release of ARK: Aquatica. Bookings also continues to increase, reflecting strong demand and building backlog. Although this did not contribute to top-line results this quarter, it creates meaningful revenue visibility going forward. The majority of deferred revenue is expected to be recognized within the next 12 months, and we anticipate a stronger Q4 aligned with the planned release of ARK: Lost Colony by year end.” “We are making steady progress toward becoming one of the first gaming companies to launch a proprietary stablecoin, advancing both the underlying infrastructure and multi-state regulatory approvals. This initiative positions Snail as a pioneer in digital payments, supported by recent regulatory developments such as the GENIUS Act. While industry-wide adoption will take time, we believe our early investments in technology and compliance lay a strong foundation for future innovation, efficiency, and leadership in integrating stablecoin technology across gaming.”
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