Snail Q4 Earnings Miss Estimates, Revenues Surpass, Stock Down

Core Insights - Snail, Inc. (SNAL) reported mixed results for Q4 2024, with earnings missing estimates while revenues exceeded expectations [1][3] - The company's stock declined by 3.8% in after-hours trading following the earnings release [2] Q4 Earnings & Revenues - Adjusted earnings per share (EPS) for Q4 2024 were 3 cents, missing the Zacks Consensus Estimate of 7 cents, down from 7 cents in the same quarter last year [3] - Quarterly revenues reached $26.2 million, surpassing the consensus mark of $25 million by 4.9%, but fell 8.4% from $28.6 million in the prior-year quarter, primarily due to lower sales of ARK [3] Bookings and Sales - Total bookings for the quarter were $17 million, a significant drop from $52.6 million in the prior-year quarter, attributed to the strong launch of ARK: Survival Ascended in 2023 [4] Operating Highlights - Gross profit for Q4 2024 was $11.3 million, an increase from $9.9 million in the prior-year quarter [5] - Net income for the quarter was $1.1 million, down from $2.4 million in the previous year, mainly due to a $3.0 million rise in research and development expenses [6] - EBITDA for the quarter totaled $1.6 million, compared to $3.6 million in the prior-year quarter [7] Balance Sheet - As of December 31, 2024, cash and cash equivalents were $7.3 million, down from $15.2 million a year earlier [8] - Operating lease liability, net of the current portion, decreased to $0.6 million from $1.4 million in the prior year [8] 2024 Highlights - Total net revenues for 2024 were $84.5 million, up from $60.9 million in 2023 [9] - EBITDA for 2024 was $3.2 million, a significant improvement from a loss of $9.7 million in fiscal 2023 [9] - Diluted EPS for 2024 was 5 cents, compared to a loss of 25 cents in the previous year [9]