Snail Inc (NASDAQ:SNAL), the global independent game developer and publisher behind the ARK franchise, reported a strong first quarter on Wednesday, with revenues surging 36% and a return to profitability that sets the stage for an ambitious content pipeline through the rest of the year.
Net revenues rose 35.7% to $27.3 million for the three months ended March 31, 2026, up from $20.1 million in the same period a year earlier, driven by growth in ARK: Survival Ascended and the breakout performance of medieval survival title Bellwright.
Net income swung to $2.1 million from a net loss of $1.9 million, a gain of 210% year over year.
CEO Hai Shi said the company exited 2025 with momentum that is now translating into results. "We have a Fantastic Tames Season 1 Expansion Pack coming in May 2026, and ARK Tides of Fortune to launch alongside the remake of Genesis Part 1 coming to ASA in June 2026 to provide a foundation for the quarter to build on," Shi said in a statement, adding that approximately $11 million in deferred revenue is expected to be recognized upon the Genesis Part 1 release.
Total units sold climbed 42.6% to 2.2 million in the quarter, with ARK: Survival Ascended accounting for approximately 1.4 million of those sales. The game's average daily active users reached 127,000, with a peak of 188,000. Meanwhile, ARK: Ultimate Mobile Edition continued to build its audience, reaching 11.9 million downloads as of March 31, with an average of 141,000 daily active users in the quarter.
Bellwright was a notable standout beyond the ARK franchise, crossing 1 million downloads on Steam Early Access. The company announced plans to port the title to Xbox and PlayStation, signaling confidence in the game's broader commercial potential.
EBITDA surged to $2.4 million from a loss of $3.2 million a year ago, while bookings rose 21.1% to $26.9 million, supported by strong sales promotions and the tailwind from the December 2025 ARK: Lost Colony DLC launch.
Looking further ahead, Snail is positioning the next 12 to 18 months as an inflection point. The company's ARK content roadmap stretches into 2027, encompassing new DLC expansions, game modes, and a content creation tool called ARK World Creators. A new title, PixARK Worlds, featuring user-generated content, is also in development across Steam, Xbox, PlayStation, and the Nintendo Switch 2.
Snail's broader ambitions extend well past ARK. The company's AAA titles – For The Stars, Nine Yin Sutra: Immortal and Nine Yin Sutra: Wushu – are in their final phases of development, with Shi describing them as a pathway to building franchises with "multi-year to multi-decade" lifespans.
"Over time, our ambition is for Snail Games to be recognized not only for ARK, but as a developer and publisher of multiple renown IPs and titles," Shi said.
“We remain focused on unlocking the value of our pipeline and delivering results.”
Shares of Snail rocketed nearly 82% higher after the bell on Wednesday, up from its closing price of $0.50.
Image credit: ARK: Survival Ascended courtesy of Snail Games