CULVER CITY, Calif., Nov. 14, 2024 – Snail, Inc. (NASDAQ: SNAL) announced its financial results for the third quarter ending September 30, 2024, showcasing a significant revenue increase.
Net revenue reached $22.5 million, a 150.9% rise from $9.0 million in the same quarter of 2023. This growth is attributed to the successful launches of new titles, including Aberration and part two of Bobs Tall Tales.
Net income for the quarter improved to $0.2 million, compared to a net loss of $4.4 million in Q3 2023. Bookings for the quarter totaled $16.1 million, up 53.6% year-over-year.
Co-CEO Tony Tian emphasized the company's commitment to innovative gaming experiences and highlighted the successful launch of ARK: Survival Ascended, which sold 0.4 million units in the quarter.
As of September 30, 2024, Snail reported unrestricted cash of $10.6 million and has made significant repayments on its revolving loan and other debts.