Welcome to our dedicated page for Snail SEC filings (Ticker: SNAL), a comprehensive resource for investors and traders seeking official regulatory documents including 10-K annual reports, 10-Q quarterly earnings, 8-K material events, and insider trading forms.
Snail, Inc. filings document a public interactive entertainment company with game publishing, development and licensing activities centered on Snail Games USA. Its regulatory disclosures include financial results, registration statements, securities offerings, executive compensation arrangements, annual proxy matters and Nasdaq continued-listing compliance notices.
Material-event reports describe agreements tied to the ARK franchise, including the exclusive worldwide license for ARK: Survival Evolved and ARK: Survival Ascended, as well as financing arrangements involving convertible securities. Proxy filings cover board elections, auditor ratification and stockholder meeting procedures, while offering and periodic disclosures address capital structure, related-party arrangements, risk factors and corporate governance.
SNAL amends its ATM prospectus supplement to permit up to $3,660,000 of additional Class A common stock sales. The amendment updates the Original ATM Prospectus Supplement and the Form S-3 shelf terms so the company may offer and sell shares from time to time through H.C. Wainwright & Co. under an At-The-Market sales agreement.
The filing states the company previously sold $4,367,863 of Class A Common Stock under the original ATM supplement. After this Amendment, the aggregate market value of outstanding Class A Common Stock held by non-affiliates is reported as $24,086,494 based on 14,168,526 non-affiliate shares and a closing price of $1.70 per share on April 14, 2026. The Sales Agent may receive commissions up to 3.0% of gross sales.
Zhou Ying reported acquisition or exercise transactions in this Form 4 filing.
Snail, Inc. director and ten percent owner Zhou Ying reported an indirect grant of 500 shares of Class A Common Stock at $0.99 per share, held through SDE, Inc., a California corporation controlled by Zhou Ying. The filing also reports indirect holdings of 24,103,590 shares of Class B Common Stock held by Zhou Ying’s spouse and 4,644,990 shares of Class B Common Stock held by Amethyst Fortune Development Limited, a British Virgin Islands entity controlled by Zhou Ying. These entries show Zhou Ying’s aggregate indirect ownership across multiple entities.
Snail, Inc. reported a strong turnaround for the quarter ended March 31, 2026. Net revenue reached $27.3M, significantly higher than the same period in 2025, driven mainly by PC and U.S. sales. Gross profit rose to $11.7M, and the company generated income from operations of $2.0M instead of a prior-year loss.
Net income attributable to Snail, Inc. was $2.13M, with basic earnings per share of $0.06 for Class A stockholders. Operating cash flow improved sharply to $10.2M, lifting cash and restricted cash to $16.2M. The company still reports a stockholders’ deficit of $19.7M and carries substantial related-party payables and deferred revenue of $31.7M, but its quarterly profitability and cash generation mark a notable improvement.
Snail, Inc. reported a strong turnaround for the first quarter ended March 31, 2026, with net revenues rising 35.7% to $27.3 million and total units sold up 42.6% to 2.2 million. Growth was driven mainly by ARK franchise titles and Bellwright, along with higher deferred revenue recognition.
The company posted net income of $2.1 million, compared with a net loss of $1.9 million a year earlier, and EBITDA improved to $2.4 million from a loss of $3.2 million. Bookings increased 21.1% to $26.9 million, and cash and cash equivalents grew to $14.3 million as of March 31, 2026.
Management highlighted a robust ARK and diversified content pipeline, including multiple DLCs and new titles slated for 2026–2027, and indicated expectations for year-over-year growth in Q2 supported by upcoming ARK releases and recognition of approximately $11 million in deferred revenue upon the release of Genesis Part 1.
Snail, Inc. is asking stockholders to vote at a virtual 2026 annual meeting on May 27, 2026 at 10:00 a.m. Pacific Time. Investors will elect eight directors and decide whether to ratify BDO USA, P.C. as independent auditor for the 2026 fiscal year.
The company has dual‑class stock: each Class A share has one vote and each Class B share has ten votes. As of April 15, 2026, 13,873,422 Class A shares and 28,748,580 Class B shares were outstanding, with founder CEO Hai Shi and director Ying Zhou jointly controlling most voting power.
Snail qualifies as both an emerging growth company and a smaller reporting company, allowing reduced governance and disclosure requirements. It is also a Nasdaq “controlled company,” so only three of eight directors are independent, though the audit committee meets full independence standards.
Snail, Inc. entered into Amendment No. 3 to its ARK1 License Agreement with SDE Inc., effective April 1, 2026, reducing monthly licensing fees from $2 million to $1.5 million until the public release of ARK 2 and revising how $5 million DLC payments apply. The agreement continues royalties of 25% of revenue from ARK: Survival Ascended and 60% from ARK: Survival Evolved. Snail also signed a Software Development Outsourcing Agreement with Suzhou Snail under which Suzhou Snail will develop the Project Aether game for $1.966 million, paid in four quarterly installments, while Snail retains all intellectual property. Both counterparties are entities affiliated with Snail’s founder and senior executives, making these related-party arrangements.
Snail, Inc. filed an Amendment No. 1 to its annual report for the year ended December 31, 2025. The amendment’s sole purpose is to add five previously omitted exhibits (10.40 through 10.44), which cover a revolving loan and security agreement, related promissory notes and amendments with Cathay Bank, plus a loan and security agreement dated June 10, 2025.
The company also includes new officer certifications under Section 302 of the Sarbanes-Oxley Act as Exhibits 31.3 and 31.4. The amendment does not change any financial statements or other disclosures from the original annual report, and it states that all other information remains as of the original filing date.
Snail, Inc. reported that Nasdaq has notified the company it is not in compliance with continued listing standards because it failed to meet the minimum $500,000 net income from continuing operations test and also did not satisfy alternative market value or stockholders’ equity requirements.
The company has until May 11, 2026 to submit a compliance plan, after which Nasdaq may grant up to 180 days from the deficiency letter to demonstrate compliance. Snail’s Class A common stock continues to trade on The Nasdaq Capital Market while it prepares and submits its plan, which may include potential equity or debt financing transactions.
Snail, Inc. reports 2025 results showing net revenue of $81.2 million, slightly below $84.5 million in 2024, and a swing to a net loss of $27.2 million versus prior net income of $1.8 million. The business is highly concentrated in its ARK franchise, which generated 89.4% of 2025 revenue and has over 108.6 million console and PC installs through December 31, 2025, with an average 224,000 daily active users on Steam and Epic.
Revenue is diversified by platform, with 2025 contributions of 38.4% from consoles, 50.0% from PC and 9.6% from mobile. Snail continues to expand ARK through new DLC such as Lost Colony and supports a broader portfolio including Bellwright, PixARK, Voyage Century Online and West Hunt.
The company is investing in AI-enabled development, its NOIZ micro‑influencer platform, film and TV projects like SaltyTV, and a strategic digital asset initiative exploring a proprietary stablecoin. Risks highlighted include dependence on ARK, reliance on third‑party platforms, DDoS vulnerabilities, data‑privacy regulation, debt maturities and maintaining Nasdaq listing requirements.