Core Insights - Snail, Inc. reported a net revenue of $13.8 million for Q3 2025, a decrease from $22.5 million in the same period last year, primarily due to an increase in deferred revenue of $10.9 million [7][10] - The company experienced a net loss of $(7.9) million compared to a net income of $0.2 million in Q3 2024, attributed to decreased revenues and increased expenses [10][14] - Bookings increased by 9.3% to $17.6 million, driven by sales promotions and the release of new titles [11][15] Financial Highlights - Net revenues for the nine months ended September 30, 2025, were $56.1 million, down from $58.3 million in the previous year [13] - Total ARK sales increased by $2.2 million year-over-year, with significant contributions from ARK: Survival Ascended and ARK: Aquatica [8] - The balance of deferred revenue as of September 30, 2025, was $36.4 million, with expectations to recognize $28.8 million of non-refundable payments in the next 12 to 60 months [9] Operational Updates - The ARK franchise continued to show strong engagement, with units sold for ARK: Survival Evolved at approximately 576,324 and ARK: Survival Ascended at approximately 499,199 for Q3 2025 [5] - The company’s mobile game, ARK: Ultimate Mobile Edition, surpassed 9 million downloads, and average daily active users reached 144,750 [5] - SaltyTV, a subsidiary, released 67 short film dramas as of September 30, 2025, indicating growth in the company's content portfolio [5] Management Commentary - The CEO highlighted that the reported top-line performance does not fully reflect the underlying growth due to deferred revenue, which is expected to provide revenue visibility in the coming quarters [4] - The company anticipates a stronger Q4 2025 aligned with the planned release of ARK: Lost Colony by year-end [4] Future Initiatives - Snail, Inc. is progressing towards launching a proprietary stablecoin, which positions the company as a pioneer in digital payments within the gaming industry [6] - The company is also working on multi-state regulatory licensing efforts to support this initiative [6]