Overview
Snail Inc Q2 revenue of $22.2 mln vs $21.6 mln year ago
Net loss for Q2 was $16.6 mln, compared to $2.3 mln profit last year
Company announced development of proprietary stablecoin, marking strategic shift
Outlook
Snail plans to launch ARK: Lost Colony later this year
Company sees strong potential in stablecoin functionality
Snail focuses on expanding indie game portfolio
Result Drivers
ARK FRANCHISE - Increased sales and downloads from ARK franchise, including ARK: Survival Ascended and ARK Mobile, drove revenue growth
OPERATING EXPENSES - Higher costs in headcount, R&D, and marketing contributed to net loss
STABLECOIN INITIATIVE - Development of proprietary stablecoin marks strategic shift, aligning with digital financial innovation
Key Details
Metric | Beat/Miss | Actual | Consensus Estimate |
Q2 Revenue | Miss | $22.20 mln | $26 mln (1 Analyst) |
Q2 EPS |
| -$0.44 |
|
Q2 Net Income |
| -$16.60 mln |
|
Q2 EBITDA |
| -$2.40 mln |
|
Analyst Coverage
The one available analyst rating on the shares is "buy"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for Snail Inc is $4.00, about 75.6% above its August 18 closing price of $0.98
The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 14 three months ago
Press Release: ID:nGNX2Vh2jP