--- title: "Snail | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 19.68 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/295574556.md" datetime: "2026-08-11T20:13:35.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/295574556.md) - [en](https://longbridge.com/en/news/295574556.md) - [zh-HK](https://longbridge.com/zh-HK/news/295574556.md) generator: "portal-rs" --- # Snail | 8-K: FY2026 Q2 Revenue Misses Estimate at USD 19.68 M Revenue: As of FY2026 Q2, the actual value is USD 19.68 M, missing the estimate of USD 29 M. EPS: As of FY2026 Q2, the actual value is USD -0.36. EBIT: As of FY2026 Q2, the actual value is USD -3.081 M. ### Second Quarter 2026 Financial Highlights #### Net Revenues Snail, Inc. reported net revenues of $19.7 million for the second quarter of 2026, a decrease from $22.2 million in the same period last year. This decline was primarily due to decreases from ARK: Survival Ascended ($4.2 million), ARK: Survival Evolved ($1.8 million), ARK: Ultimate Mobile Edition ($0.4 million), SaltyTV ($0.2 million), and other titles ($0.2 million), partially offset by a $1.5 million increase from Bellwright and a $2.8 million change in deferred revenues. Total units sold were 2.0 million, down from 2.1 million in the prior year, mainly due to lower sales of ARK franchise titles (0.2 million units decrease), partially offset by an increase in Bellwright sales (0.1 million units increase). #### Net Loss Net loss improved by 81.6% to - $3.0 million for the second quarter of 2026, compared to a net loss of - $16.6 million in the same period last year. This improvement was primarily due to a $14.0 million reduction in the income tax provision from the prior-year quarter and an improvement in gross profit, partially offset by higher general and administrative and research and development expenses. #### Bookings Bookings were $21.8 million, down from $27.1 million in the second quarter of 2025, primarily due to lower sales of ARK: Survival Ascended and ARK: Survival Evolved, partially offset by bookings generated from Bellwright. #### EBITDA EBITDA was - $3.0 million, compared to - $2.4 million in the same period last year. This decrease was primarily due to a $13.5 million improvement in net loss and a $0.1 million decrease in depreciation expense, which were more than offset by a $14.0 million decrease in the provision of income taxes. #### Gross Profit Gross profit for the second quarter of 2026 was $7,687,783, an increase from $6,954,745 in the second quarter of 2025. #### Operating Expenses Total operating expenses were $10,352,780, up from $8,772,179 in the prior year. This included general and administrative expenses of $4,975,250 (vs. $3,475,089 in 2025), research and development expenses of $4,453,153 (vs. $3,293,409 in 2025), advertising and marketing expenses of $814,705 (vs. $1,520,201 in 2025), depreciation and amortization of $12,834 (vs. $67,761 in 2025), and impairment of film assets of $96,838 (vs. $415,719 in 2025). #### Loss from Operations Loss from operations was - $2,664,997, compared to - $1,817,434 in the second quarter of 2025. ### Six Months 2026 Financial Highlights #### Net Revenues Net revenues increased by 11.1% to $47.0 million for the six months ended June 30, 2026, up from $42.3 million in the same period last year. This increase was primarily attributed to a $3.6 million increase in sales of Bellwright and a $5.3 million change in deferred revenues, partially offset by a $2.7 million decrease in ARK: Survival Evolved revenue and a $1.4 million decrease from lower sales of ARK: Survival Ascended. Total units sold increased by 13.8% to 4.2 million, up from 3.7 million units, primarily due to increased sales of ARK: Survival Ascended (1.0 million units) and Bellwright (0.2 million units), partially offset by a 0.7 million unit decrease in ARK: Survival Evolved sales. #### Net Loss Net loss improved by 95.1% to - $0.9 million, compared to - $18.5 million in the same period last year. This improvement was mainly due to the absence of a $12.4 million income tax provision recorded in the prior-year period and a $6.5 million improvement in gross profit. #### Bookings Bookings were $48.7 million, a decrease from $49.4 million in the prior year period. This was primarily due to lower sales of ARK: Survival Evolved as consumer demand shifted, partially offset by increased sales of ARK: Survival Ascended and Bellwright benefitting from promotional pricing. #### EBITDA EBITDA improved by 88.8% to - $0.6 million, compared to - $5.8 million in the same period last year. This improvement was primarily due to a $17.6 million improvement in net loss, partially offset by a $12.4 million decrease in the provision for income taxes. #### Unrestricted Cash As of June 30, 2026, unrestricted cash was $13.3 million, compared to $8.6 million as of December 31, 2025. #### Gross Profit Gross profit for the six months ended June 30, 2026, was $19,344,224, an increase from $12,802,272 in the prior year period. #### Operating Expenses Total operating expenses were $19,968,878, up from $18,720,545 in the prior year period. This included general and administrative expenses of $9,626,007 (vs. $8,439,440 in 2025), research and development expenses of $8,467,822 (vs. $6,903,154 in 2025), advertising and marketing expenses of $1,683,494 (vs. $2,826,567 in 2025), depreciation and amortization of $25,568 (vs. $135,665 in 2025), and impairment of film assets of $165,987 (vs. $415,719 in 2025). #### Loss from Operations Loss from operations was - $624,654, compared to - $5,918,273 in the six months ended June 30, 2025. #### Cash Flows from Operating Activities Net cash provided by operating activities for the six months ended June 30, 2026, was $6,862,539, compared to net cash used in operating activities of - $2,413,125 in the same period last year. #### Cash Flows from Investing Activities Net cash used in investing activities for the six months ended June 30, 2026, was - $343,770, compared to - $3,026,645 in the same period last year. #### Cash Flows from Financing Activities Net cash used in financing activities for the six months ended June 30, 2026, was - $1,392,274, compared to net cash provided by financing activities of $5,977,229 in the same period last year. ### Outlook Snail, Inc. expects a strong outlook for the second half of 2026, driven by continued execution across multiple gaming pipelines and business opportunities. The company anticipates sustained growth with a robust slate of ARK content planned through 2027 and meaningful progress on three upcoming AAA titles. 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