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SNAL Nasdaq· Snail Inc
Earnings report Q3 2023

SNAIL, INC. Reports Decrease in Revenue for the Quarter Ended September 30, 2023

Segments of revenue

SNAIL, INC. reported net revenue of $8.98 million for the quarter ended September 30, 2023, compared to $15.61 million in the same period last year. The revenue breakdown for the quarter shows that approximately 43.0% came from consoles, 41.4% from PC, and 15.6% from mobile platforms.

Strengths

Despite the decrease in revenue, SNAIL, INC. continues to generate significant revenue from multiple segments, with consoles and PC platforms being the primary sources. The company's diversified revenue streams indicate a strong market presence and customer demand across different platforms.

Challenges

SNAIL, INC. experienced a decline in revenue compared to the same period last year. This decrease could be attributed to various factors, such as increased competition in the gaming industry, changing consumer preferences, or a decrease in the popularity of certain game titles. The company should closely monitor these challenges and adapt its strategies accordingly to maintain revenue growth.

Noteworthy

SNAIL, INC. reported a net loss of $4.4 million for the quarter ended September 30, 2023, compared to a net loss of $1.5 million in the same period last year. This increase in net loss could be attributed to higher operating expenses, including general and administrative costs, research and development expenses, and advertising and marketing expenditures. The company should focus on optimizing its cost structure to improve profitability.

Summary

SNAIL, INC. faced a decline in revenue for the quarter ended September 30, 2023, primarily driven by a decrease in revenue from consoles, PC, and mobile platforms. The company's diversified revenue streams indicate its ability to cater to different customer segments. However, SNAIL, INC. needs to address the challenges posed by increased competition and changing consumer preferences. The company should focus on optimizing its cost structure to improve profitability and mitigate the impact of the net loss reported for the quarter.

Source documents

Form 10-Q  filed on Nov 14, 2023
4 pages scanned

Reference data

Company financials Q3 revenue 9M
Analyst estimates Q3 EPS missed by NaN%
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