Snail, Inc.
Key statistics
from XBRL data in SEC filingsAI briefing
from the latest 10-K, 10-Q and 8-K eventsSnail, Inc. is a global independent developer and publisher of interactive digital entertainment, generating the substantial majority of its revenue from the ARK franchise across console, PC, and mobile platforms.
What they do
Snail develops and publishes premium games for consoles, PCs, and mobile devices. Its flagship franchise, ARK, includes ARK: Survival Evolved and ARK: Survival Ascended, with 112.4 million console and PC installs through June 30, 2026. The company also manages the NOIZ micro-influencer platform and the SaltyTV short film app under its Interactive Films division.
Revenue drivers
- ARK franchise — Generated 83.0% of Q2 2026 revenue and 84.6% of H1 2026 revenue. Includes ARK: Survival Evolved and ARK: Survival Ascended, with combined average DAUs of 225,000 in Q2 2026.
- PC/console/mobile sales — Revenue split for Q2 2026: 55.1% PC, 36.0% console, 6.9% mobile. ARK: Survival Ascended sold ~1.2 million units in Q2; ARK: Survival Evolved sold ~574,000.
- Content and DLC pipeline — Launched ARK: Fantastic Tames Season 1 Pack and other DLC such as ARK: Genesis Part 1 Ascended and ARK: Dragontopia, contributing to engagement and monetization.
- SaltyTV short film app — Released over 300 short film dramas as of June 30, 2026, with internally produced and licensed content. Represents a new revenue stream under Interactive Films.
Recent performance
For Q2 2026, net revenue was $19.7 million, down from $22.2 million in Q2 2025, and net loss was $3.0 million versus a net loss of $16.6 million a year ago. H1 2026 revenue was $47.0 million versus $42.3 million in H1 2025, with a net loss of $0.9 million versus a net loss of $18.5 million. Full-year 2025 revenue was $81.2 million with a net loss of $27.2 million and diluted EPS of -$0.73. As of June 30, 2026, cash and equivalents were $13.3 million, total assets $57.1 million, and shareholder equity was -$11.5 million. The company effected a 1-for-5 reverse stock split on July 2, 2026.
Strategy
Management is investing in expanding its gaming pipeline and media related to its gaming IP, including vertical short film content through SaltyTV. It also continues to grow the NOIZ micro-influencer platform. The company plans to launch multiple AAA titles, including 9 Yin Sutra: Immortal and For The Stars, and diversify with indie titles. It is developing ARK Maker, a content creation tool, and expanding the ARK universe with future DLC and new titles. Management emphasizes building a pipeline for the second half of 2026 and beyond.
Risks
- Revenue concentration in ARK — Over 83% of Q2 2026 revenue came from the ARK franchise, making results highly sensitive to ARK's performance.
- Negative shareholder equity — Shareholder equity was -$11.5 million as of June 30, 2026, indicating accumulated losses and potential going-concern risk.
- Declining revenue trend — Annual revenue fell from $106.7M in 2021 to $81.2M in 2025, with a significant net loss in 2025.
- Nasdaq listing compliance — An 8-K dated July 2, 2026 reported a delisting notice or listing-rule failure, which could impact stock liquidity and market confidence.
Outlook
Management expects continued rollout of ARK content through 2026 and 2027, including multiple DLC packs and the ARK Maker creation tool. The pipeline includes PixARK: Terracrypt, ARK: Atlantis, and ARK: Galaxy Wars, plus diversified titles like Dead Party and Honeycomb. Titles like 9 Yin Sutra: Immortal and For The Stars are scheduled for release at an unspecified date. The company is also planning to showcase an unannounced AAA title at Gamescom 2026.