Snail(US:SNAL) Globenewswireยท2025-05-14 20:05Core Insights - Snail, Inc. reported a strong financial performance for Q1 2025, with net revenues increasing by 42.5% to $20.1 million compared to $14.1 million in Q1 2024, driven by growth in the ARK franchise and mobile game sales [7][8][9]. Game Portfolio Updates - The ARK franchise saw a 16% increase in daily active users, reaching 243,000 on Steam and Epic platforms [5]. - Units sold for ARK: Survival Evolved were approximately 690,775, while ARK: Survival Ascended sold around 751,960 units in Q1 2025 [6]. - ARK: Ultimate Mobile Edition surpassed 4.8 million downloads, indicating strong momentum since its launch [6]. Business Updates - The company signed a Memorandum of Understanding with Mega Matrix Inc. for the joint development and distribution of short dramas, marking a strategic expansion beyond gaming [4][5]. - The soft launch of Salty TV, a mobile short film platform, currently hosts 49 short dramas, supporting the company's diversification efforts [5]. Financial Highlights - Net loss for Q1 2025 was $(1.9) million, slightly higher than $(1.8) million in Q1 2024, attributed to increased costs in revenues and operating expenses [8]. - Bookings increased by 13.6% to $22.2 million, driven by new DLC releases and other game launches [9]. - EBITDA for Q1 2025 was $(3.2) million, compared to $(1.9) million in the same period last year, reflecting higher operating costs [10]. Cash Position - As of March 31, 2025, the company had unrestricted cash of $9.4 million, up from $7.3 million at the end of 2024 [11].