CULVER CITY, Calif., March 20, 2026 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, returned from an impactful showing at GDC 2026, where the Company unveiled major content updates to the ARK franchise, announced a new Wandering Wizard indie title Gobby Gang, and highlighted key milestones achieved across its current portfolio, including reaching the 1-million-unit-sold benchmark for Bellwright and increasing Echoes of Elysium’s positive rating by over 50% within 3 months of Early Access launch. Building on the excitement generated at GDC, Snail Games is bringing that momentum directly to players by featuring ARK titles, Bellwright, Echoes of Elysium, among others in the Steam Spring Sale.
As part of the Steam Spring Sale, Snail Games is offering discounts across a selection of its standout titles, including ARK: Survival Ascended (75% off), PixARK (57% off), Bellwright (34% off), Echoes of Elysium (20% off) and many more. The promotion provides players with an opportunity to engage with both newly showcased experiences and proven fan-favorites, expanding access to the Company’s diverse lineup while capitalizing on increased seasonal traffic across the Steam platform.
Seasonal sales remain a critical driver of visibility and unit growth, particularly when paired with the heightened awareness generated by industry events like GDC. By aligning its promotional strategy with key market moments, Snail Games aims to amplify discovery, convert interest into sales, and reinforce the long-term value of its IP portfolio among both new and returning players.
For creators interested in collaborating with any Snail Games’ titles please reach out to creatordirect@noiz.gg
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 Snail leveraging GDC 2026 momentum to drive portfolio growth through Steam Spring Sale 2026 Featuring ARK: Survival Ascended, Echoes of Elysium, and Bellwright; Snail Games aiming to amplify discovery, convert interest into sales, and reinforce the long-term value of its IP portfolio among both new and returning players by aligning its promotional strategy with key market moments, and assumptions underlying any of the foregoing.
Further information on risks, uncertainties and other factors that could affect Snail’s financial results and business include Snail’s ability to continue the momentum to drive portfolio growth; its ability to amplify discovery, convert interest into sales, and reinforce the long-term value of its IP portfolio ; and the risks that are included in its filings with the Securities and Exchange Commission (the “SEC”) from time to time, including its annual reports on Form 10-K and quarterly reports on Form 10-Q filed, or to be filed, with the SEC. You should not rely on these forward-looking statements, as actual outcomes and results may differ materially from those expressed or implied in the forward-looking statements as a result of such risks and uncertainties. All forward-looking statements in this press release are based on management’s beliefs and assumptions and on information currently available to Snail, and Snail does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
Investor Contact: John Yi and Steven Shinmachi Gateway Group, Inc. 949-574-3860 SNAL@gateway-grp.com
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.
Q4 results in line with expectations. Revenue of $25.1M and adj. EBITDA loss of $1.3 million was better than our expectations of $23.0 million and a loss estimate of $1.77 million, respectively. The quarter was supported by deferred revenue recognition and strong sequential revenue improvement.
ARK franchise momentum remains strong, with ASA surpassing 4M units sold and continued engagement across ASA, ASE, and ARK Mobile, reinforcing long-term durability. There appears to be a robust multi-year content pipeline which provides visibility, though updated timing shifts a portion of expected revenue and adj. EBITDA from 2026 into 2027.
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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., March 19, 2026 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, today announced financial results for the fourth quarter and full year ended December 31, 2025.
Fourth Quarter 2025 and Recent Operational Highlights
ARK Franchise Updates:
ARK: Survival Evolved (“ASE”):
Units sold were approximately 579,248 for the fourth quarter 2025
During the fourth quarter of 2025, average daily active users (“DAU”) was 105,468 and peak DAU was 137,404
ARK: Survival Ascended (“ASA”):
Units sold were approximately 691,872 for the fourth quarter 2025
During the fourth quarter of 2025, average DAU was 91,123 and peak DAU was 147,572
Launched ARK Lost Colony DLC
Launched ‘ARK x Teenage Mutant Ninja Turtles’ Cosmetic Pack in collaboration with Look North World
ARK: Ultimate Mobile Edition (“ARK Mobile”):
Surpassed 10 million downloads as of December 31, 2025
During the fourth quarter of 2025, average DAU was 129,861
2026 / 2027 ASA Content Roadmap
2026
ARK World Creator (scheduled for May 2026)
ARK Bob’s True Tales – Tides of Fortune (scheduled for June 2026)
ARK Genesis Part 1 (ASA remake)
ARK Survival of the Fittest (“SOTF”)
ARK Dragontopia (scheduled for December 2026)
2027
ARK Atlantis
ARK Bob’s True Tales – Galaxy Wars
ARK Legacy of Santiago
Game Portfolio Updates:
2026 Games Developers Conference (“GDC”)
Introduced PixARK Worlds, a new title in development that features revolutionary user-generated content designed to expand the ARK universe onto the Nintendo Switch 2
Revealed event-exclusive trailer for upcoming AAA title For The Stars
Unveiled new indie title, Gobby Gang
Bellwright surpassed 1 million downloads on Steam Early Access, announced console port plans to Xbox and PlayStation, and launched the Maiden Voyage update. Following the launch of the update, the title achieved its highest Steam concurrent user peak of the year and sold over 166,000 units in Q4 2025
Launched Echoes of Elysium on Steam Early Access in partnership with Loric Games
Participated in the Steam Winter Sale, resulting in double digit sales multiples for ASA and Bellwright
Launched Rebel Engine in partnership with Seven Leaf Clover. The title demonstrated notable creator engagement, partnering with VTuber Hakos Baelz and Spanish gaming creator Joseju
Announced strategic collaboration with Noiz at TwitchCon to strengthen gaming portfolio visibility with streamers
Business Updates:
Minted the first official $USDO stablecoin during the Company’s December 2025 Investor Day
Debuted Golden Poop, a commemorative digital meme collectible created to humorously acknowledge gaming culture and industry satire
As of December 31, 2025, SaltyTV released 100+ short film dramas
Three of SaltyTV’s titles were recognized by the International Short Drama Association:
My Ex’s Best Friend recognized for Best Revenge-Driven Narrative
Hollywood Heartthrob recognized for Most Charismatic Screen Presence
Faux Fiancé recognized for Best Destiny-Bound Narrative
Management Commentary
“The fourth quarter provided strong visibility into the momentum we expect across the ARK franchise over the next two years. In addition to launching ARK: Lost Colony, ASA’s first standalone DLC expansion pack, we introduced robust ASA content and DLC roadmap during our December Investor Day. The 2026 slate includes the ARK SOTF remake, ARK World Creator for consoles,ARK Bob’s True Tales – Tides of Fortune, the ASA remake of ARK Genesis Part 1, and ARK:Dragontopia. Since launching in October 2023, ASA has surpassed 4 million units sold, and our expanded roadmap reflects our commitment to sustained franchise growth and increased revenue visibility through 2027.
“Beyond ARK, we are continuing to invest, advance, and scale our broader game portfolio. We are particularly encouraged by the meaningful progress made across our developing AAA games; For The Stars, Nine Yin Sutra: Immortal, and Nine Yin Sutra: Wushu. AAA games are high-budget, high-profile projects that are designed to deliver expansive worlds, cutting-edge visuals, and robust marketing campaigns that far exceed those of typical indie releases. These games, while still in development, represent Snail’s investment and expansion into other AAA games outside of ASE and ASA. These three games have represented a core pillar of our long-term investment strategy over the past few years. Being classified as an AAA game, we believe these titles offer substantial upside with an attractive profit margin profile compared to many of our other games. The progress made has been encouraging, and we are excited to continue developing and sharing updates. At the recent GDC event, we shared an event-exclusive trailer for For The Stars that provided some early insights into the gameplay and concept art.
“Across our other business units, we also made meaningful progress. We minted the first official $USDO stablecoin during the Investor Day and debuted the Golden Poop digital collectible coin. We are currently working towards a potential partnership opportunity tied to our stablecoin initiative and look forward to sharing additional information later this year. Within our short film vertical, SaltyTV has now released 100+ short film dramas, with three productions receiving recognition from the International Short Drama Association. Our Interactive Films division also expanded into narrative-driven game development in 2025, which we view as a strategic adjacency that builds on existing creative capabilities.
“We remain excited about our gaming pipeline for the next two years. ARK will continue to remain the foundational backbone of our company, while we also invest in and grow other arms of the business. Many of our projects are approaching the final stages of development, and we believe we are well-positioned to broaden our portfolio, diversify revenue streams, and drive long-term shareholder value.”
Fourth Quarter 2025 Financial Highlights
Net revenues were $25.1 million compared to $26.2 million in the same period last year. The decrease was primarily due to a decrease in deferred revenues that were recognized in 2025 of $3.5 million, partially offset by increases in ARK sales of $1.3 million and an increase in Bellwright sales of $1.2 million.
Total units sold were 1.5 million units compared to 1.3 million units in the same period last year, primarily driven by an increase in sales of ASA of 0.2 million units, an increase in Bellwright sales of 0.1 million units, partially offset by a decrease in sales of ASE and our other titles of 0.1 million units.
Net loss was $(0.9) million compared to net income of $1.1 million in the same period last year, primarily due to a decrease in gross profit of $1.7 million and an increase in operating expenses of $2.8 million, partially offset by an increase in other income (expense) of $2.0 million and benefit from income taxes of $0.5 million.
Bookings were $20.8 million compared to $17.0 million in the same period last year. The increase was primarily due to a lower portion of sales deferred in 2025. Changes in deferred revenues decreased by $4.9 million while net revenue decreased $1.1 million.
EBITDA was $(1.3) million compared to $1.6 million in the same period last year. The decrease was primarily due to an increase in operating expenses of $2.8 million.
As of December 31, 2025, unrestricted cash was $8.6 million compared to $7.3 million as of December 31, 2024.
Full Year 2025 Financial Highlights
Net revenues were $81.2 million compared to $84.5 million in the same period last year. The decrease was primarily due to a decrease in recognition of deferred revenues of $15.5 million related to the ARK franchise, decrease in Bellwright and Myth of Empires sales of $1.5 million and $1.3 million respectively, partially offset by an increase in ASA sales of $11.3 million, ARK Mobile sales of $2.4 million, and revenue generated from the SaltyTV application of $0.8 million.
Total units sold increased 32.7% to 6.3 million units compared to 4.7 million units in the same period last year, primarily driven by an increase in ARK franchise units sold by 1.7 million units, partially offset by a slight decrease in Bellwright and West Hunt sales of 0.1 million units.
Net loss was $(27.2) million compared to net income of $1.8 million in the same period last year, primarily due to a non-cash tax expense related to the full valuation of our deferred tax assets of $10.1 million, increase in general and administrative expenses of $5.2 million, increase in research and development of $2.9 million, increase in advertising and marketing of $3.7 million, and impairment expenses of $1.5 million.
Bookings increased 16.2% to $87.8 million compared to $75.7 million in the same period last year. The increase was primarily due to the increased ASA sales driven by the launch of ARK: Lost Colony, ARK: Astraeos, and ASE’s first sales event in June 2025 since the price drop in August 2023.
EBITDA was $(16.8) million compared to $3.2 million in the same period last year. The decrease was due to the increase in general and administrative expenses of $5.2 million, an increase in research and development of $2.9 million, an increase in advertising and marketing of $3.7 million and an additional $1.5 million in impairment expenses.
Use of Non-GAAP Financial Measures
In addition to the financial results determined in accordance with U.S. generally accepted accounting principles, or GAAP, Snail believes Bookings and EBITDA, as non-GAAP measures, are useful in evaluating its operating performance. Bookings and EBITDA are non-GAAP financial measures that are presented as supplemental disclosures and should not be construed as alternatives to net income (loss) or revenue as indicators of operating performance, nor as alternatives to cash flow provided by operating activities as measures of liquidity, both as determined in accordance with GAAP. Snail supplementally presents Bookings and EBITDA because they are key operating measures used by management to assess financial performance. Bookings adjusts for the impact of deferrals and, Snail believes, provides a useful indicator of sales in a given period. Management believes Bookings and EBITDA are useful to investors and analysts in highlighting trends in Snail’s operating performance, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the tax jurisdictions in which Snail operates and capital investments.
Bookings is defined as the net amount of products and services sold digitally or physically in the period. Bookings is equal to revenues, excluding the impact from deferrals. Below is a reconciliation of total net revenue to Bookings, the closest GAAP financial measure.
We define EBITDA as net income (loss) before (i) interest expense, (ii) interest income, (iii) provision for (benefit from) income taxes and (iv) depreciation expense. The following table provides a reconciliation from net income (loss) to EBITDA:
Webcast Details
The Company will host a webcast at 4:30 PM ET today to discuss its fourth quarter and full year 2025 financial and operational results. Participants may access the live webcast and replay via the link here or on the Company’s investor relations website at https://investor.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 Snail’s intent, belief or current expectations. These forward-looking statements include information about possible or assumed future results of Snail’s business, financial condition, results of operations, liquidity, plans and objectives. The statements Snail makes regarding the following matters are forward-looking by their nature: Snail’s 2026 / 2027 ASA content roadmap; plans to port Bellwright to the Xbox and Playstation consoles; Snail’s announced strategic collaboration with Noiz and its potential to strengthen the visibility of Snail’s gaming portfolio with streamers; the momentum Snail expects across the ARK franchise over the next two years and the visibility regarding the same provided by Snail’s fourth quarter; Snail’s expanded roadmap and commitment to sustained franchise growth and increased revenue visibility through 2027; Snail’s continued investment, advancement, and scaling of its broader game portfolio; progress made across the development of AAA games; the intention for AAA games to deliver expansive worlds, cutting-edge visuals, and robust marketing campaigns that far exceed those of typical indie releases; Snail’s investment and expansion into other AAA games outside of ASE and ASA and the potential for its existing AAA games to form a core pillar of its long-term investment strategy; For The Stars, Nine Yin Sutra: Immortal, and Nine Yin Sutra: Wushu offering substantial upside with an attractive profit margin profile compared to many of our other games; the occurrence and timing of a potential partnership opportunity tied to Snail’s stablecoin initiative; Snail’s interactive films division serving as a strategic adjacency and building on Snail’s existing creative capabilities; ARK remaining the foundational backbone of Snail and its gaming pipeline; Snail investing in and growing other arms of its business; Snail’s in-house projects are approaching the final stages of development; Snail being positioned to broaden its portfolio, diversify revenue streams, and drive long-term shareholder value;and assumptions underlying any of the foregoing.
Further information on risks, uncertainties and other factors that could affect Snail’s financial results and business include Snail’s ability to strengthen its gaming portfolio’s visibility; its ability to expand and grow its franchise and increase its revenue; and the risks that are included in its filings with the Securities and Exchange Commission (the “SEC”) from time to time, including its annual reports on Form 10-K and quarterly reports on Form 10-Q filed, or to be filed, with the SEC. You should not rely on these forward-looking statements, as actual outcomes and results may differ materially from those expressed or implied in the forward-looking statements as a result of such risks and uncertainties. All forward-looking statements in this press release are based on management’s beliefs and assumptions and on information currently available to Snail, and Snail does not assume any obligation to update the forward-looking statements provided to reflect events that occur or circumstances that exist after the date on which they were made.
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/.
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.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Strategic updates ahead of Q4 Earnings Call. At the Game Developers Conference (GDC) in San Francisco last week, the company provided updates across its game portfolio, outlining a steady pipeline of ARK franchise releases, expansions for existing titles, and new indie projects. The announcements were delivered ahead of the company’s Q4 and full-year 2025 earnings call scheduled for March 19, 2026, at 4:30 p.m. ET, providing a preview of its strategic product developments.
Strong Early Access sales. Notably, Bellwright has surpassed 1 million units sold on Steam during Early Access, demonstrating strong player engagement ahead of its 1.0 launch and planned expansion to Xbox and PlayStation. As a reminder, development is now fully in-house following the acquisition and integration of Donkey Crew, the Poland-based studio behind Bellwright, strengthening the franchise’s long-term potential.
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., March 17, 2026 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, will hold a conference call and webcast on Thursday, March 19, 2026 at 4:30 p.m. Eastern time (1:30 p.m. Pacific time) to discuss its financial results for the fourth quarter and full year ended December 31, 2025.
Snail, Inc. management will host the conference call and webcast, followed by a question-and-answer period. Participants may listen to the live webcast and replay via the link here or on the Company’s investor relations website at https://investor.snail.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/.
Investor Contact: John Yi and Steven Shinmachi Gateway Group, Inc. 949-574-3860 SNAL@gateway-grp.com
CULVER CITY, Calif., March 11, 2026 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, hosted an invite-only event during the Game Developers Conference (GDC), offering media and industry partners an early look at upcoming gaming content, major milestones, and new projects. The private showcase featured new trailers, live developer discussions, and multiple franchise updates across the Company’s robust gaming pipeline portfolio.
The event kicked off by highlighting the steady cadence of new content coming to the ARK franchise. Studio Wildcard’s Jeremy Stieglitz introduced PixARK Worlds, a new title in development by Studio Sirens and Snail Games, created with guidance from Studio Wildcard, featuring revolutionary user-generated content designed to expand the ARK universe onto the Nintendo Switch 2. Stieglitz also revealed details about ARK: Survival Ascended content coming this year including ARK: Bob’s True Tales: Tides of Fortune (June), focused on physical sailing ships across a vast ocean world, ARK: Dragontopia (December), and a custom ARK World Creator (May) for consoles, while outlining continued franchise growth plans heading into 2027. Meanwhile, Studio Sirens’ Matt Kohl debuted an event-exclusive trailer for ARK: Survival of the Fittest, offering a renewed look at its standalone competitive esport-style gameplay.
The upcoming internally developed open-universe space survival RPG and AAA title, For The Stars, revealed an event exclusive trailer, providing a deeper look at its open-universe exploration, player-driven research systems, and evolving frontier civilization themes. Attendees were given a glimpse into the game’s expanding scope and ambitious world-building vision through a new trailer and early concept art.
Medieval survival strategy title Bellwright celebrated surpassing 1 million units sold, marking a major milestone on its path toward full 1.0 release and planned console port to Xbox and PlayStation. The game’s Creative Director and Project Lead, Florian “Chadz” Hofreither reflected on the journey through Early Access, emphasizing community feedback as a central force in shaping the game’s progression and long-term roadmap.
Meanwhile, Echoes of Elysium will be at the Snail booth #1238 celebrating its Early Access Steam launch from earlier this year. Developers will be discussing how player feedback has directly influenced feature prioritization, balance updates, and long-term design decisions.
Additionally, Snail Games highlighted its Interactive Films initiative, an innovative publishing model that repurposes high-engagement vertical narrative content into fully interactive RPG Full Motion Video experiences. The approach bridges digital storytelling formats with gameplay interactivity, positioning the project at the forefront of hybrid entertainment.
The GDC event reflects Snail Games’ continued investment in long-term franchise growth, indie innovation, and new media experimentation reinforcing its commitment to evolving alongside players and the broader interactive entertainment landscape.
Developers for all previously mentioned titles will be available for interviews at the GDC 2026 Expo floor, at Booth #1238. For press interested in scheduling an interview, please reach out to 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 within the meaning of the U.S. federal securities laws. Such statements are based upon various facts and derived utilizing numerous important assumptions and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. The forward-looking statements include statements regarding the steady cadence of new content coming to the ARK franchise, the planned release of Gobby Gang, discussing at the Snail booth how player feedback has directly influenced Echoes of Elysium’s feature prioritization, balance updates, and long-term design decisions, the Company continuing to invest in long-term franchise growth, indie innovation, and new media experimentation and reinforcing the Company’s commitment to evolving alongside players and the broader interactive entertainment landscape. Any forward-looking statements included herein reflect our current views, and they involve certain risks and uncertainties, including, among others, acceptance of our titles in the marketplace and the successful development, marketing or sale of our titles and our ability to retain our key employees or maintain our Nasdaq listing. These risks should not be construed as exhaustive and should be read together with the other cautionary statement included in our Annual Report on Form 10-K for the year ended December 31, 2024, subsequent Quarterly Reports on Form 10-Q and current reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it was initially made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.
Investor Contact: John Yi and Steven Shinmachi Gateway Group, Inc. 949-574-3860 SNAL@gateway-grp.com
CULVER CITY, Calif., March 06, 2026 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, today announced that its medieval survival title, Bellwright, has officially surpassed 1 million units sold on Steam in Early Access. The achievement highlights the title’s strong Early Access performance and positions Bellwright for additional commercial upside as it advances toward the full 1.0 launch and console port to Xbox and PlayStation.
Bellwright combines open-world survival mechanics with town-building systems, strategic combat, and progression-driven gameplay set within a dynamic medieval world. Its consistent content updates and active player base have driven durable sales performance and reinforced the Company’s confidence in scaling the title. The upcoming Xbox and PlayStation launch aims to further support the title’s accelerating growth and capture incremental demand from player bases beyond the PC community.
Surpassing one million units sold ahead of its 1.0 release highlights the title’s thoughtful development, strong community engagement, and long-term franchise potential for Bellwright. Bringing development fully in-house through the previous acquisition and integration of Donkey Crew, the title’s independent development studio based in Poland, further aligns the creative vision, operational execution, and long-term IP strategy to support the game’s continued evolution. As Bellwright approaches full launch, this milestone reflects a solid foundation and meaningful momentum heading into its next phase.
“We’re incredibly grateful to the players who believed in Bellwright early and helped shape it into what it is today,” said Florian “Chadz” Hofreither, Creative Director and Project Lead from Donkey Crew. “The community’s feedback, passion, and patience throughout development have been instrumental in reaching this milestone. As we move toward 1.0 and beyond, we’re excited to continue building alongside our players and expanding the world of Bellwright.”
Florian “Chadz” Hofreither, Creative Director and Project Lead from Donkey Crew will be available for interviews at GDC 2026 from March 9-13 at Booth #1238. For press interested in scheduling an interview, please reach out to 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 within the meaning of the U.S. federal securities laws. Such statements are based upon various facts and derived utilizing numerous important assumptions and are subject to known and unknown risks, uncertainties and other factors that may cause actual results, performance, or achievements to be materially different from any future results, performance or achievements expressed or implied by such forward-looking statements. Statements preceded by, followed by or that otherwise include the words “believes,” “expects,” “anticipates,” “intends,” “projects,” “estimates,” “plans” and similar expressions or future or conditional verbs such as “will,” “should,” “would,” “may” and “could” are generally forward-looking in nature and not historical facts, although not all forward-looking statements include the foregoing. The forward-looking statements include statements regarding positioning Bellwright for additional commercial upside as it transitions into full launch, the long-term franchise potential for Bellwright, aligning creative vision and operational execution to support the game’s continued evolution, Bellwright having a solid foundation and meaningful momentum heading into its next phase, moving toward 1.0 and beyond and continuing to build alongside our players and to expand the world of Bellwright. Any forward-looking statements included herein reflect our current views, and they involve certain risks and uncertainties, including, among others, our ability to transition Bellwright into full launch as planned, our ability to support the game’s continued evolution, acceptance of our titles in the marketplace and the successful development, marketing or sale of our titles and our ability to retain our key employees or maintain our Nasdaq listing. These risks should not be construed as exhaustive and should be read together with the other cautionary statement included in our Annual Report on Form 10-K for the year ended December 31, 2024, subsequent Quarterly Reports on Form 10-Q and current reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking statement speaks only as of the date on which it was initially made. We undertake no obligation to publicly update or revise any forward-looking statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.
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.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Noble Virtual Conference. On February 4th, Heidy Chow, CFO, and Peter Lin, Senior Manager FP&A, presented at the Noble Virtual Conference to the investment community. The presentation highlighted strong engagement on its core franchise and recent releases, a busy 2026 release roadmap, and the advancement of its digital assets strategy. The full presentation is available here.
Strong ARK Engagement. The ARK franchise remains a key driver of engagement and monetization for the company, generating nearly $1 billion in revenue, more than 100 million installs, and 4.2 billion gameplay hours since its release. Management noted that the ARK franchise benefits from a highly active core audience, with 42% of players averaging 380 hours of total gameplay. Furthermore, management noted a 55% paid downloadable content (DLC) conversion rate for ARK, with new content releases driving spikes in player activity.
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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.
Veteran Talent From Dark Age of Camelot, Warhammer Online, and Star Wars: The Old Republic Drive Six-Figure Wishlist Momentum for Snail’s Latest Project
CULVER CITY, Calif., Jan. 28, 2026 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, in partnership with independent development studio Loric Games, officially launched Echoes of Elysium on Steam Early Access.
Echoes of Elysium blends open-world exploration, crafting, and cooperative survival gameplay in an airborne setting, positioning the title within a high-engagement genre that continues to demonstrate community-driven growth. Since its reveal, the game has surpassed 150,000 wishlists on Steam, signaling early demand and strong visibility ahead of its Early Access launch.
The partnership with Loric Games reflects Snail’s publishing strategy of backing experienced development teams, leveraging proven creative leadership, and identifying projects with clear audience and market fit. Loric Games’ pedigree in building immersive worlds and sustaining player communities aligns closely with Snail’s focus on scalable titles capable of long-tail performance through ongoing updates and community engagement.
“Echoes of Elysium represents the exact type of opportunity we actively seek; original IP built by seasoned developers, strong early audience traction, and a design foundation that supports long-term content expansion.” said Peter Kang, SVP of Business Development at Snail, Inc.
For Snail, Echoes of Elysium adds to a growing lineup of titles designed to complement the Company’s established franchises while diversifying potential revenue streams and expanding its presence. With Early Access serving as a platform for iterative development and community-driven refinement, Snail Games expects Echoes of Elysium to benefit from extended engagement cycles and recurring content opportunities over time reflected in their initial roadmap.
Echoes of Elysiumlaunched on Steam for $19.99 with a first week discount of 10% off.
For creators interested collaborative opportunities please reach out to creatordirect@noiz.gg
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: snail.com
About Loric Games Loric Games, a venture-backed game development company headquartered in Arlington, Virginia, stands at the forefront of creating immersive online gaming experiences. With a commitment to innovation, Loric Games continues to captivate audiences worldwide. loricgames.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 in Snail Games’ public filings with the SEC and include, but are not limited to, statements regarding the partnership with Loric Games that reflects Snail’s publishing strategy of backing experienced development teams, leveraging proven creative leadership, and identifying projects with clear audience/market fit and Loric Games’ pedigree in building immersive worlds and sustaining player communities aligns closely with Snail’s focus on scalable titles capable of long-tail performance through ongoing updates and community engagement. 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
CULVER CITY, Calif., Jan. 26, 2026 (GLOBE NEWSWIRE) — Snail,Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, will be virtually presenting and holding one-on-one meetings at the Noble Capital Markets’ Emerging Growth Virtual Equity Conference on February 4, 2026.
Snail, Inc.’s management team is scheduled to present on February 4, 2026 at 2:30 p.m. Eastern time. The presentation will be webcast live and available for replay on Channelchek and on the Company’s investor relations website. In addition to the presentation, Snail, Inc.’s management will be available for one-on-one meetings throughout the conference.
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/.
Investor Contact: John Yi and Steven Shinmachi Gateway Group, Inc. 949-574-3860 SNAL@gateway-grp.com
ARK: Survival Ascended and Bellwright Deliver 10.9x and 16.7x Increases, Respectively, in Daily Units Sold Through Strategic Content Timing
CULVER CITY, Calif., Jan. 15, 2026 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, today recapped a strong performance during the Steam Winter Sale (“Winter Sale”), which ran from December 18 through January 5. The results underscore the Company’s ongoing strategy of pairing major seasonal promotions with timely content launches to drive discovery, engagement, and long-term portfolio growth.
The Winter Sale was anchored by the December 18 launch of ARK: Lost Colony, the newest DLC for the ARK franchise. During the promotional period, ARK: Survival Ascended recorded a 10.9x increase in average daily units sold compared to the previous 30 day non sale period. Concurrently, Bellwright‘s Maiden Voyage update released just before the sale, introducing new players to the survival sandbox during a period of high visibility. Bellwright achieved a 16.7x increase in average daily units sold, during the Steam Winter Sale when compared to its prior 30-day non-sale period. These results reflect the effectiveness of Snail Games’ strategy to align major seasonal promotions with timely content releases across its portfolio.
By aligning new content drops with high-traffic seasonal sales, Snail Games continues to aim to lower barriers of entry for new players while re-engaging existing audiences to its broader catalog. This approach not only amplifies short term performance but also creates awareness for future titles still in active development.
We believe that these periodical sales, when paired with meaningful content updates, are a key component of how Snail Games aims to expand the reach of its portfolio and introduce players to emerging projects. The Winter Sale results demonstrate how strategic timing can potentially translate into measurable growth while strengthening the foundation for future engagement.
As seasonal promotions continue to serve as powerful discovery engines for new and existing players, Snail Games remains focused on strategically utilizing these key moments to maximize both product visibility and overall performance across all major distribution platforms. The consistent success of these large-scale sales events underscores their importance in driving significant spikes in user acquisition and revenue. Furthermore, these promotions provide invaluable data insights into player behavior and market trends, which are then integrated into long-term sales and marketing strategies to sustain growth beyond the promotional window.
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 in Snail Games’ public filings with the SEC and include, but are not limited to, statements regarding its ability to align new content drops with high-traffic seasonal sales, pursuant to which Snail Games continues to aim to lower barriers of entry for new players while re-engaging existing audiences to its broader catalog. This approach not only amplifies short term performance but also creates awareness for future titles still in active development. Snail Games believes that these periodical sales, when paired with meaningful content updates, are a key component of how Snail Games aims to expand the reach of its portfolio and introduce players to emerging projects. Ultimately the Winter Sale results demonstrate how strategic timing can potentially translate into measurable growth while strengthening the foundation for future engagement. 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.
Jacob Mutchler, Research Associate, Noble Capital Markets, Inc.
Refer to the full report for the price target, fundamental analysis, and rating.
Investor Day. At the company’s 2025 Investor Day on December 16th in New York, management provided a strategic update on its product release roadmap and highlighted early progress in the development of its digital asset strategy. Notably, the company symbolically minted its first stablecoin known as USDO during the presentation. A replay of the presentation can be viewed here.
Digital strategy. The company aims to utilize the USDO token to integrate a digital payment system across its gaming platforms and create a rewards ecosystem. Importantly, this positions Snail to be an early mover in utilizing stablecoins in gaming, leveraging its sizeable user base of roughly 91 million ARK gamers.
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., Dec. 16, 2025 (GLOBE NEWSWIRE) — Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”), a leading global independent developer and publisher of interactive digital entertainment, unveiled major advancements across its growing digital ecosystem during its 2025 Investor Day at the NASDAQ MarketSite in New York City. Company executives shared new developments in crypto and long-term content expansion for the company’s leading game franchise ARK.
During the event, Snail introduced its upcoming stablecoin initiative, revealing the name, $USDO and the official branding. Product Owner, Matthew Harper, symbolically minted the first official coin live on stage, marking a significant milestone in the company’s strategy to integrate secure, utility focused digital payments across its ecosystem.
Snail also debuted Golden Poop, a commemorative digital meme collectible created to humorously acknowledge gaming culture and industry satire.
The event wrapped with a showcase of the new ARK: Lost Colony teaser trailer, confirming that the DLC will launch on December 18. Snail closed the presentation with a multi-year content roadmap presented by Jeremy Stieglitz, Studio Wildcard Co-founder and Lead Designer for ARK, showcasing the resilient and well-defined ARK pipeline that provides the Company clear visibility and continuous franchise support through 2027.
ARK Roadmap 2026: Survival of the Fittest by Studio Sirens Bob’s True Tales: Tides of Fortune ARK: World Creator ARK: Dragontopia
ARK Roadmap 2027: ARK: Atlantis Bob’s True Tales: Galaxy Wars ARK: Legacy of Santiago Part 1
A replay of the Investor Day will be available on the Company’s Events and Presentation section of its investor relations website here.
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 in certain of our public filings with the SEC and include, but are not limited to statements regarding the Company’s major advancements and new developments in crypto and long-term content expansion. 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
