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Snail, Inc. (Nasdaq: SNAL) is a leading global independent developer and publisher of interactive digital entertainment, offering a premier portfolio of premium games for consoles, PCs, and mobile devices. Headquartered in Culver City, California, Snail has a significant presence in both the United States and international markets, with the majority of its revenue originating from the U.S.
Recently, Snail announced a slew of updates and new developments, showcasing its commitment to delivering rich and engaging gaming experiences. On April 3, 2024, the company released major new content for ARK: Survival Ascended, including the Scorched Earth Expansion Map and Bob's Tall Tales DLC. These updates aim to enhance the game’s universe and engage a broader audience. Starting April 1, 2024, ARK: Survival Ascended also became available on Microsoft's Game Pass, extending its reach to a wider player base.
In addition to ARK, Snail’s highly anticipated title Bellwright launched into Early Access on Steam on April 23, 2024. This city builder, RPG, and survival strategy game promises an immersive experience, allowing players to lead a revolution in a dynamic world filled with intricate storytelling.
The company reported its first quarter financial results for the period ending March 31, 2024, on May 15, 2024. Net revenues increased to $14.1 million, and the net loss was reduced to $1.8 million compared to the previous year. This improvement was driven by increased ARK sales and better cost management.
Further bolstering its offering, on May 23, 2024, Snail became the first to introduce premium UE5-generated mods for consoles with ARK: Survival Ascended. This update supports professional modders, offering a new revenue-sharing model, and enhances the gaming experience for players.
On June 5, 2024, Snail announced a significant update for ARK: Survival Ascended, introducing “The Center” map, which doubles the size of a standard ARK island, featuring diverse biomes and new challenges. This expansion includes the Shastasaurus and the Pyromane, priced at $4.99, enriching the gameplay with new creatures and adventures.
Snail, Inc. continues to innovate, providing interactive entertainment to a global audience, with a strong pipeline of projects, partnerships, and a commitment to delivering value to its shareholders and stakeholders.
Snail (NASDAQ: SNAL), a global developer and publisher of digital entertainment, announced its Q1 2024 financial results. The company reported net revenues of $14.1M, a 4.4% increase from $13.5M in Q1 2023, driven by ARK franchise sales. Net loss reduced to $1.8M from $3.0M last year. Bookings surged to $19.6M from $13.3M. Key highlights include the launch of ARK: Survival Ascended with 2M units sold and 121,000 daily active users. ARK: Survival Evolved sold 0.6M units with 133,000 DAUs. Despite increased revenues, higher R&D expenses and cost of revenues impacted profitability. Unrestricted cash stands at $16.1M as of March 31, 2024.
Snail, Inc. (Nasdaq: SNAL), a global independent developer and publisher of interactive digital entertainment, will release its first-quarter 2024 financial results on May 15, 2024. The results cover the period ending March 31, 2024. A conference call and webcast, hosted by management, will be held at 4:30 p.m. ET on the same day to discuss these results. The webcast will be accessible live and for replay on Snail's investor relations website. This announcement provides stakeholders an opportunity to hear directly from the company's management regarding their latest performance metrics and future outlook.
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