Snail revenues climb 35.7% to $27.3M, returns to profit; shares surge 156%
Snail Inc posted Q1 net revenues of $27.3M, up 35.7% YoY, and net income of $2.1M versus a $1.9M loss a year earlier, lifting shares 156%. Unit sales jumped 42.6% to 2.2M units—including 1.4M ARK: Survival Ascended copies—and analysts raised 2026 revenue forecasts to $100.3M with adjusted EBITDA of $7M.
1. Q1 Financial Results
Snail Inc delivered net revenues of $27.3 million in Q1, a 35.7% increase from $20.1 million a year earlier, and swung to net income of $2.1 million from a $1.9 million loss. Total units sold rose 42.6% to 2.2 million, led by 1.4 million ARK: Survival Ascended sales and robust engagement on ARK: Ultimate Mobile Edition with 11.9 million cumulative downloads.
2. Analyst Revisions and Valuation
Analysts raised Snail’s 2026 revenue forecast to $100.3 million from $92 million and lifted adjusted EBITDA estimates to $7 million from $6 million. The shares now trade at roughly 0.7 times enterprise value to 2027 adjusted EBITDA, versus a peer average of about 9 times, underpinning an outperform rating and favorable risk-reward.
3. Upcoming Content Pipeline
Snail plans 17 releases over the next 12–18 months, including multiple ARK content drops, a Bellwright expansion on PlayStation and Xbox, and new internal titles such as Gobby Game. Three AAA projects—For The Stars, Nine Yin Sutra: Immortal and Nine Yin Sutra: Wushu—are also in advanced development.