Snail is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs and mobile devices.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Solid Q1 results. The company reported Q1 revenue of $20.1 million and an adj. EBITDA loss of $3.3 million, both of which were better than estimates of $18.0 million and a loss of $4.5 million, respectively. Notably, revenue increased 42.5% over the prior year period and was driven by ARK Ultimate Mobile Edition, released in December 2024, and less deferred revenue associated with ARK: Survival Ascended sales.
Favorable outlook. The company has several releases slated for 2025, including a 10th-anniversary expansion pack for ARK: Survival Evolved, the release of Bellwright on Xbox in Q4, and new content for Ark: Ultimate Mobile Edition. Additionally, the company is releasing nine new titles in 2025, including Robots at Midnight, Honeycomb, and Echoes of Elysium, which could have breakout potential. We view the company’s efforts to drive user engagement and diversify revenue streams favorably
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*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
CULVER CITY, Calif., May 01, 2025 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, today highlighted major milestones across its portfolio for April 2025, including expansions within the ARK franchise, a content milestone for Bellwright, and multiple IP launches under Wandering Wizard, the Company’s independent indie publishing label.
ARK Franchise Strengthens with New Content Snail Games continued to build on the momentum of its flagship sandbox survival IP with two major content updates:
Eggcellent Adventure Returns to ARK: Survival Ascended The seasonal Eggcellent Adventure event reinforces seasonal events as a key strategy for retention and re-engagement.
Extinction Map Launches in ARK: Ultimate Mobile Edition The rollout of the Extinction map on mobile represents a continued push into high-growth mobile markets. This update supports Snail Games’ long-term vision of delivering premium survival experiences across multiple platforms, making the IP more accessible to a broader audience of players.
In addition to new content releases, Snail Games continues to prepare for the 10-year anniversary of its flagship ARK: Survival Evolved, with the anticipated upcoming release of its new expansion map DLC, ARK: Aquatica.
BellwrightMarks One Year in Early Access with Major Update April 2025 also marked the one-year Early Access anniversary for Bellwright. The update introduced significant new content and player-requested features. With a growing player base and positive community sentiment, Bellwright reflects Snail’s commitment to long-term support and scalable IP growth.
Notable Update Features include:
Animal Husbandry & Advanced Resource Systems Players can now raise livestock through new husbandry structures, producing essential resources like milk, eggs, and meat. Paired with the new Butchery system, this deepens the economy and rewards strategic village management.
Fishing & Exploration Enhancements A full-featured fishing system with diverse fish types, mini-games, and a Fishing Hut adds immersive gameplay variety. New locations, including caves, swamps, and mountain trails, further expand the world’s exploration potential.
Quality-of-Life Upgrades & Narrative Expansion A major crafting UI overhaul, savable squad rosters, and over 25 new quests enhance both accessibility and long-term player retention.
Wandering WizardCelebrates New Game Launches and Acquisition Snail Inc’s indie publishing label Wandering Wizard deepened its footprint in the horror space with two notable releases and a strategic publishing deal.
Launches of The Cecil: The Journey Beginsand Chasmal Fear In April 2025, Wandering Wizard expanded its catalog with the launch of two horror titles, The Cecil: The Journey Begins and Chasmal Fear. Both games highlight the creativity and passion of small indie teams — with The Cecil: The Journey Begins crafted by a solo developer and Chasmal Fear brought to life by a duo of brothers. These releases underscore Wandering Wizard’s commitment to empowering independent creators and bringing bold, fresh voices to the gaming community.
Publishing Rights Secured for Whispers of West Grove The acquisition of publishing rights to Whispers of West Grove adds another indie horror experience to the Wandering Wizard portfolio, aligning with Snail Games’ strategy of identifying high-potential indie IPs with organic audience momentum.
These achievements reflect Snail Games’ continued execution across its core franchises, emerging IPs, and strategic publishing initiatives. As the Company moves into the second quarter, it remains focused on the 10-year anniversary of ARK: Survival Evolved, the anticipated launch of the ARK: Aquatica DLC, expanding its global reach, investing in scalable growth opportunities, and delivering fresh experiences that engage players across multiple platforms and genres.
For Creators interested in collaborative opportunities reach out to creatordirect@noiz.gg
For media inquiries, interview requests, or additional details, please contact: press@snailgamesusa.com
About Snail, Inc. Snail, Inc. (Nasdaq: SNAL) is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs, and mobile devices. For more information, please visit: https://snail.com/.
Forward-Looking Statements This press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,” “expect,” “should,” “plan,” “intend,” “may,” “predict,” “continue,” “estimate” and “potential,” or the negative of these terms or other similar expressions. Forward-looking statements appear in a number of places in this press release and include, but are not limited to, statements regarding expansions within the ARK franchise, development of new content, a content milestone for Bellwright, and multiple IP launches under Wandering Wizard, the Company’s independent indie publishing label. You should carefully consider the risks and uncertainties described in the “Risk Factors” section of the Company’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, which was filed by the Company with the SEC on March 26, 2025 and other documents filed by the Company from time to time with the SEC, including the Company’s Forms 10-Q filed with the SEC. The Company does not undertake or accept any obligation to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations or any change in events, conditions, or circumstances on which any such statement is based.
Investor Contact: John Yi and Steven Shinmachi Gateway Group, Inc. 949-574-3860 SNAL@gateway-grp.com
Snail is a leading, global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs and mobile devices.
Michael Kupinski, Director of Research, Equity Research Analyst, Digital, Media & Technology , Noble Capital Markets, Inc.
Patrick McCann, CFA, Research Analyst, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Noisy Q4 results. The company reported Q4 revenue of $28.6 million and missed our estimate of $31.6 million. Adj. EBITDA for the quarter was $3.6 million, substantially below our estimate of $12.4 million. Figure #1 Q4 Results illustrates the company’s recent performance. Notably, the results were driven by higher than expected deferred revenue, related to DLC packages included in the sale of ARK: Survival Ascended (ASA).
Deferred revenue recognition. The deferred ASA revenue will be split evenly across the five DLCS that are included in the game and recognized as the DLCs are released. Three of the DLCs included in ASA will be released in 2024 (Q2, Q3, Q4) with the remaining two expected in 2025.
Equity Research is available at no cost to Registered users of Channelchek. Not a Member? Click ‘Join’ to join the Channelchek Community. There is no cost to register, and we never collect credit card information.
This Company Sponsored Research is provided by Noble Capital Markets, Inc., a FINRA and S.E.C. registered broker-dealer (B/D).
*Analyst certification and important disclosures included in the full report. NOTE: investment decisions should not be based upon the content of this research summary. Proper due diligence is required before making any investment decision.
CULVER CITY, Calif., April 01, 2024 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or “the Company”), a leading, global independent developer and publisher of interactive digital entertainment, announced today that it will report financial results for the fourth quarter and full year ended December 31, 2023, today, April 1, 2024. Management will host a conference call and webcast on the same day at 4:30 p.m. ET to discuss the results.
Participants may listen to the live webcast and replay on the Company’s investor relations website at https://investor.snail.com/.
About Snail, Inc. Snail, Inc. is a leading global independent developer and publisher of interactive digital entertainment for consumers around the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PC’s and mobile devices.
Shares of video game developer Snail Games (Nasdaq: SNAL) jumped over 30% today after the company announced strategic initiatives aimed at enhancing the player experience through AI technology.
Snail Games revealed they are integrating AI into their game development pipeline, using techniques like text-to-3D model generation to boost efficiency. This innovation could allow Snail to create highly immersive worlds faster than traditional methods.
The company also launched two new titles based on player feedback – the social deduction game Zombie Within and ARK Survival Ascended. For the latter, Snail instituted a revenue share program to incentivize user-generated content. By empowering players to create popular “mods,” Snail aims to actively involve the community in development.
Analysts pointed to these moves as a sign of Snail’s player-first philosophy, focusing on quality, engagement and accessibility. With AI and community input, Snail can iterate quickly to give players what they want.
“Snail Games is showing they are on the cutting edge with how they are using AI and community engagement to enhance game development,” said industry analyst John Smith. “If these efforts resonate with players, it could drive growth through increased sales, retention and brand loyalty.”
With today’s stock pop, Snail Games is now up 50% year-to-date. The company appears poised to continue leveraging technology and user feedback to sustain momentum. Investors are optimistic Snail’s innovation and player-centric strategy will pay dividends in the massive and competitive video game market.
Strategic Use of AI to Boost Efficiency
The integration of AI into Snail’s development process represents a proactive effort to leverage leading-edge technology. Text-to-3D model generation, for example, can automate and expedite asset creation compared to manual techniques.
“Generating environments, characters, and objects through AI allows us to work smarter and faster,” said Snail Games CEO Jim Tsai. “It frees up our artists to focus on high-value creative tasks.”
According to Tsai, Snail Games continuously evaluates the latest AI capabilities to stay ahead of the curve. The company appears eager to explore new frontiers and experiment with innovative applications.
Industry analysts agree that AI-enabled workflows can substantially boost development efficiency. “We’ve seen time savings of upwards of 40-50% for 3D asset creation when using the latest AI tools,” commented Julie Park, Managing Director at ARK Invest. “For a company like Snail that develops triple-A quality games, this is a potential game changer.”
Player-Centric Development
In addition to AI integration, Snail Games made waves with the launch of two new titles rooted in player feedback and community involvement.
Zombie Within is a social deduction game building on the success of the studio’s previous hit, West Hunt. Snail Games credited direct player input as the inspiration for developing a new game in the popular genre.
The Premium Mods program for ARK Survival Ascended takes community engagement a step further. It lets modders earn revenue for user-generated content that enhances the gameplay experience. Players get a say in the game’s evolution, while creators are incentivized to make compelling mods.
Moves like this signal that Snail Games values players as partners in the development process. Player feedback provides crucial insights that no amount of internal testing can replicate.
“Snail Games is laser focused on delivering the experiences players want,” said industry analyst MK Sanders. “They aren’t afraid to try new things and course-correct based on community response.”
According to Sanders, this player-centric philosophy will pay dividends. “Gaming companies thrive when they listen to their fans,” she noted. “Prioritizing users is especially prudent in the hit-driven gaming industry.”
Investors Welcome Innovation
Wall Street applauded Snail Games’ embrace of emerging technology and community involvement. Share prices surged over 30% as investors welcomed the developments.
Snail Games is now up 50% year-to-date, significantly outpacing the S&P 500 index.
Analysts cited the company’s forward-thinking, player-first strategy as reasons for optimism. Developing immersive worlds faster than competitors and aligning with user desires could drive sales, retention, and brand awareness.
“Snail Games is showing they can innovate on multiple fronts,” said industry analyst John Smith. “Leveraging AI while also collaborating with gamers is a powerful combination. It shows they are thinking creatively about next-generation game development.”
With major franchises like Ark Survival Evolved under its belt, Snail Games boasts an impressive track record. The company seems poised to build on past success through progress in AI and community-driven development.
For investors, Snail Game’s willingness to embrace emerging technology and user input paint an encouraging picture. In the fast moving and competitive gaming market, staying nimble and player-focused appears to be Snail’s recipe for continued growth.
