Snail, Inc. (SNAL) Q2 2025 Earnings Call Transcript
Written by Emily J. Thompson, Senior Investment Analyst
Updated: Aug 22 2025
0mins
Source: SeekingAlpha
Net Revenue $22.2 million, a year-over-year increase from $21.6 million. The increase was primarily due to an increase in total ARK sales of $3.3 million, $3 million recognized for the inclusion of ARK: Survival Ascended in the platform subscription program, an increase in sales of the ARK Mobile of $600,000 driven by the release of ARK: Ultimate Mobile Edition, and an increase in revenues related to other games of $400,000. These increases were partially offset by an increase in deferred revenue of $3.7 million and a decrease in revenue related to Bellwright of $3 million.
Net Loss Negative $16.6 million compared to net income of $2.3 million in the same period last year. This was primarily due to increases in the cost of revenues and operating expenses, a result of the company's increased headcount, research and development, and marketing expenses, and the recognition of a valuation allowance against the company's deferred tax assets of $12.9 million.
Bookings $27.1 million, an 18.5% year-over-year increase from $22.9 million. The increase was primarily driven by various sale promotions in 2025 that did not occur in 2024, specifically around ARK: Survival Evolved and the release of ARK: Lost Colony to presale in 2025.
EBITDA Negative $2.4 million compared to $3.1 million in the same period last year. The decrease was primarily due to an increase in net loss of $18.9 million, partially offset by an increase in the provision of income taxes of $13.3 million and a decrease in interest income and interest income related parties of $100,000.
Unrestricted Cash and Cash Equivalents $7.9 million as of June 30, 2025.
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Analyst Views on SNAL
Wall Street analysts forecast SNAL stock price to rise
1 Analyst Rating
1 Buy
0 Hold
0 Sell
Moderate Buy
Current: 1.140
Low
3.00
Averages
3.00
High
3.00
Current: 1.140
Low
3.00
Averages
3.00
High
3.00
About SNAL
Snail, Inc. is a global independent developer and publisher of interactive digital entertainment for consumers around the world. It has built a premier portfolio of premium games designed for use on a variety of platforms, including consoles, personal computers (PCs), and mobile devices. The Company’s games include ARK: Survival Evolved, ARK: Survival Ascended, ARK: Ultimate Mobile Edition, Voyage, Bellwright, West Hunt, Gobby Gang and PixArk. ARK: Survival Evolved is an action-adventure survival sandbox game set in an open-world environment with a dynamic day-night cycle. Bellwright is developed in connection with its wholly owned subsidiary, Donkey Crew, LLC (Donkey Crew), which is a survival game based in the medieval period. PixARK is an open-world, voxel type, survival sandbox game. West Hunt is a multiplayer social deduction game set in the Wild West. ARK Ultimate Mobile Edition is a complete dinosaur survival experience tailored for iOS and Android mobile devices.
About the author
Emily J. Thompson
Emily J. Thompson, a Chartered Financial Analyst (CFA) with 12 years in investment research, graduated with honors from the Wharton School. Specializing in industrial and technology stocks, she provides in-depth analysis for Intellectia’s earnings and market brief reports.
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- Content Release Plans: Management revealed plans to launch approximately 11 new content pieces in 2026, including the remake of ASA Genesis Part 1, which is expected to recognize about $11 million in deferred revenue, thus providing substantial short-term gains for the company.
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See More
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- Core Investment Focus: The internal development of AAA titles has been a core investment focus for Snail Games over the past several years, which is expected to further diversify its gaming portfolio and strengthen its financial profile, propelling the company into a new phase.
- Intellectual Property Ownership Enhancement: With multiple internal projects advancing, Snail Games' shift towards first-party development will increase ownership of strategic intellectual property, helping the company build a stronger operational foundation in a competitive market.
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