Form 8-K

8-K — Snail, Inc.

Accession: 0001493152-26-022711

Filed: 2026-05-13

Period: 2026-05-13

CIK: 0001886894

SIC: 7372 (SERVICES-PREPACKAGED SOFTWARE)

Item: Results of Operations and Financial Condition

Item: Financial Statements and Exhibits

Documents

8-K — form8-k.htm (Primary)

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0001886894

2026-05-13

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UNITED

STATES

SECURITIES

AND EXCHANGE COMMISSION

Washington,

D.C. 20549

FORM

8-K

CURRENT

REPORT

Pursuant

to Section 13 or 15(d) of the

Securities

Exchange Act of 1934

Date

of Report (Date of earliest event reported): May 13, 2026

Snail,

Inc.

(Exact

name of registrant as specified in its charter)

Delaware

001-41556

88-4146991

(State

or other jurisdiction

incorporation)

(Commission

File

Number)

(IRS

Employer

Identification

Number)

12049

Jefferson Blvd

Culver

City, CA 90230

(Address

of principal executive offices) (Zip Code)

(310) 988-0643

(Registrant’s

telephone number, including area code)

Check

the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under

any of the following provisions:

☐

Written

communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐

Soliciting

material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐

Pre-commencement

communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐

Pre-commencement

communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities

registered pursuant to Section 12(b) of the Act:

Title

of each class

Trading

Symbol(s)

Name

of each exchange on which registered

Class

A Common Stock, $0.0001 par value per share

SNAL

The

Nasdaq Stock Market LLC

(The

Nasdaq Capital Market)

Indicate

by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405

of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging

growth company ☒

an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying

with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☒

Item

2.02. Results of Operations and Financial Condition.

May 13, 2026, Snail, Inc., a Delaware corporation, (the “Company”) issued a press release that included financial information

for its quarter ended March 31, 2026. A copy of the press release is attached as Exhibit 99.1 to this Report on Form 8-K and is incorporated

herein by reference.

The

information in this Item 2.02 and in the press release attached as Exhibit 99.1 to this Current Report on Form 8-K shall not be deemed

to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the

liabilities of that section or Sections 11 and 12(a)(2) of the Securities Act of 1933, as amended. The information contained in this

Item 2.02 and in the press release attached as Exhibit 99.1 to this Current Report on Form 8-K shall not be incorporated by reference

into any filing with the U.S. Securities and Exchange Commission made by the Company, whether made before or after the date hereof, regardless

of any general incorporation language in such filing.

Item

9.01. Financial Statements and Exhibits.

(d)

Exhibits.

Exhibit

No.

Description

99.1

Press Release, dated May 13, 2026, issued by Snail, Inc. regarding its financial results for its quarter ended March 31, 2026

104

Cover

Page Interactive Data File (embedded within the Inline XBRL document)

SIGNATURES

Pursuant

to the requirements of the Securities Exchange Act of 1934, as amended, the registrant has duly caused this report to be signed on its

behalf by the undersigned hereunto duly authorized.

SNAIL, INC.

Date:

May 13, 2026

By:

/s/

Hai Shi

Name:

Hai

Shi

Title:

Founder,

Chief Executive Officer, Chief Strategy Officer and Chairman of the Board of Directors

EX-99.1

Filename: ex99-1.htm · Sequence: 2

Exhibit

99.1

Snail,

Inc. Reports First Quarter 2026 Financial Results

CULVER

CITY, Calif., May 13, 2026 (GLOBE NEWSWIRE) – Snail, Inc. (Nasdaq: SNAL) (“Snail Games” or the “Company”),

a leading global independent developer and publisher of interactive digital entertainment, today announced financial results for the

first quarter ended March 31, 2026.

First

Quarter 2026 and Recent Operational Highlights

ARK

Franchise Updates:

●

ARK:

Survival Evolved (“ASE”):

○

Units

sold were approximately 573,000 for the first quarter of 2026

○

During

the first quarter of 2026, average daily active users (“DAU”) was 117,000 and peak DAU was 143,000

●

ARK:

Survival Ascended (“ASA”):

○

Units

sold were approximately 1.4 million for the first quarter of 2026

○

During

the first quarter of 2026, average DAU was 127,000 and peak DAU was 188,000

●

ARK:

Ultimate Mobile Edition (“ARK Mobile”):

○

11.9

million downloads as of March 31, 2026

○

During

the first quarter of 2026, average DAU was 141,000

Game

Portfolio and Business Updates:

●

For

The Stars

○

Released

new developer diary, offering an in-depth look at the upcoming AAA title’s current development progress, including new pre-alpha

footage and previously unreleased concept art

○

Revealed

event-exclusive trailer during 2026 Games Developers Conference (“GDC”)

●

Introduced

PixARK Worlds, a new title in development that features revolutionary user-generated content designed to further expand the

ARK universe on Steam, Xbox, PlayStation, and the Nintendo Switch 2

●

Bellwright

○

Surpassed

1 million downloads on Steam Early Access, announced console port plans to Xbox and PlayStation, and launched the Maiden Voyage

update.

●

Launched

Echoes of Elysium on Steam Early Access in partnership with Loric Games

●

Launched

Survivor Merc’s 1.0 version across Steam, Xbox, and PlayStation

●

Launched

Above the Snow on Steam

●

Announced

publishing agreement for co-op party action title Dead Party

●

Unveiled

new upcoming indie title, Gobby Gang, at 2026 GDC

●

of March 31, 2026, SaltyTV released 250+ short film dramas

ARK

Content Pipeline

Title

Platforms

Type

Release

Schedule

ARK

Fantastic Tames Season 1 Pack

Steam,

Xbox, PlayStation

DLC

Creatures

May

2026

ARK

Tides of Fortune

Steam,

Xbox, PlayStation

ASA

DLC

June

2026

ARK

Genesis Part 1 (ASA Remake)

Steam,

Xbox, PlayStation

ASA

DLC Remake

June

2026

ARK

Dragontopia

Steam,

Xbox, PlayStation

ASA

DLC

December

2026

ARK

World Creators

Steam,

Xbox, PlayStation

ASA

Content Creation Tool

2026

ARK

Survival of the Fittest

Steam,

Xbox, PlayStation

ASA

Game Mode

2026

PixARK

Worlds

Steam,

Xbox, PlayStation, Nintendo Switch 2

New

Title

2026/2027

ARK

Atlantis

Steam,

Xbox, PlayStation

ASA

DLC

2027

ARK

Galaxy Wars

Steam,

Xbox, PlayStation

ASA

DLC

2027

ARK

Legacy of Santiago

Steam,

Xbox, PlayStation

ASA

DLC

2027

Diversified

Content Pipeline

Title

Platforms

Type

Release

Schedule

Bellwright

Steam,

Xbox, PlayStation

1.0

Launch

2026

Dead

Party

Steam

Indie

Title

2026

Gobby

Gang

Steam

Indie

Title

2026

Stoneguard

Steam

Indie

Title

2026

For

The Stars

Steam

AAA

Title

TBD

Nine

Yin Sutra: Immortal

Steam

AAA

Title

TBD

Nine

Yin Sutra: Wushu

Steam

AAA

Title

TBD

Management

Commentary

“We

exited 2025 with tailwinds that positioned Snail for stronger and more stable growth and results,” said Company CEO Hai Shi. “Momentum

from the ASA pipeline we announced in December, the launch of ARK Lost Colony DLC, and the subsequent Steam Winter Sale

event supported net revenue growth and a return to net income positive. Looking ahead, we aim to deliver year-over-year growth in Q2,

driven by several upcoming ARK content releases. 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. Approximately $11 million from our deferred revenue backlog is expected to be recognized upon the release

of Genesis Part 1.

“Beyond

ARK, Snail Games continues to execute on its strategy to eventually become a fully integrated game developer and publisher. Our upcoming

AAA titles represent an important step toward building new franchises with the potential for multi-year to multi-decade game lifespans

that can complement the scale of ASE and ASA. As previously disclosed, these projects have entered their final phases of

development, and the eventual launch of these games position us to meaningfully diversify our revenue mix beyond ARK. With multiple gaming

events and planned updates throughout the year, we look forward to sharing additional information on For the Stars, Nine Yin

Sutra: Immortal, and Nine Yin Sutra: Wushu.

“The

next 12-18 months will serve as an inflection period for Snail Games as we work to advance our ARK pipeline and deliver on the investments

we have made across our broader pipeline. 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. We remain focused on unlocking the value of our pipeline and delivering results.”

First

Quarter 2026 Financial Highlights

Net

revenues increased 35.7% to $27.3 million compared to $20.1 million in the same period last year. The increase was primarily due

to an increase of $4.2 million and $2.1 million in revenue related to ASA and Bellwright, respectively, and a $2.5 million

increase in deferred revenue recognized during the period, offset by a decrease in revenue from ARK Mobile and ASE of $1.6

million.

Total

units sold increased 42.6% to 2.2 million units compared to 1.5 million units in the same period last year, primarily driven by an

increase in sales of ARK franchise IPs of 0.5 million units and Bellwright of 0.2 million units.

Net

income increased 210% to $2.1 million compared to a net loss of $1.9 million in the same period last year. The increase was primarily

due to an increase in net revenue of $7.2 million and a decrease in total operating expenses of $0.3 million partially offset by an increase

in provision for income taxes of $1.6 million, an increase in cost of revenues of $1.4 million and a decrease in total other income,

net of $0.5 million.

Bookings

increased 21.1% to $26.9 million compared to $22.2 million in the same period last year. The increase was primarily due to better sales

promotions in 2026 compared to 2025, tailwind momentum from the December 2025 ARK: Lost Colony DLC release, and Bellwright’s

highly regarded content update in late 2025.

EBITDA

increased 173.3% to $2.4 million compared to $(3.2) million in the same period last year. The increase was primarily due to an increase

in net income of $4.1 million and a decrease in the benefit from income taxes of $1.6 million.

of December 31, 2025, unrestricted cash was $14.3 million compared to $8.6 million as of December 31, 2025.

Use

of Non-GAAP Financial Measures

addition to the financial results determined in accordance with U.S. generally accepted accounting principles, or GAAP, Snail believes

Bookings and EBITDA, as non-GAAP measures, are useful in evaluating its operating performance. Bookings and EBITDA are non-GAAP financial

measures that are presented as supplemental disclosures and should not be construed as alternatives to net income (loss) or revenue as

indicators of operating performance, nor as alternatives to cash flow provided by operating activities as measures of liquidity, both

as determined in accordance with GAAP. Snail supplementally presents Bookings and EBITDA because they are key operating measures used

by management to assess financial performance. Bookings adjusts for the impact of deferrals and, Snail believes, provides a useful indicator

of sales in a given period. Management believes Bookings and EBITDA are useful to investors and analysts in highlighting trends in Snail’s

operating performance, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure,

the tax jurisdictions in which Snail operates and capital investments.

Bookings

is defined as the net amount of products and services sold digitally or physically in the period. Bookings is equal to revenues, excluding

the impact from deferrals. Below is a reconciliation of total net revenue to Bookings, the closest GAAP financial measure.

Three months ended

March 31,

2026

2025

(in millions)

Total net revenue

$ 27.3

$ 20.1

Change in deferred net revenue

(0.4 )

2.1

Bookings

$ 26.9

$ 22.2

define EBITDA as net income (loss) before (i) interest expense, (ii) interest income, (iii) provision for (benefit from) income taxes

and (iv) depreciation expense. The following table provides a reconciliation from net income (loss) to EBITDA:

Three months ended March 31,

2026

2025

(in millions)

Net income (loss)

$ 2.1

$ (1.9 )

Interest expense

0.2

0.1

Income tax (benefit) provision

0.1

(1.5 )

Depreciation expense

—

0.1

EBITDA

$ 2.4

$ (3.2 )

Webcast

Details

The

Company will host a webcast at 4:30 PM ET today to discuss its first quarter 2026 financial and operational results. Participants may

access the live webcast and replay via the link here or on the Company’s investor relations website at https://investor.snail.com/.

About

Snail, Inc.

Snail,

Inc. (Nasdaq: SNAL) is a leading, global independent developer and publisher of interactive digital entertainment for consumers around

the world, with a premier portfolio of premium games designed for use on a variety of platforms, including consoles, PCs, and mobile

devices. For more information, please visit: https://snail.com/.

Forward-Looking

Statements

This

press release contains statements that constitute forward-looking statements. Many of the forward-looking statements contained in this

press release can be identified by the use of forward-looking words such as “anticipate,” “believe,” “could,”

“expect,” “should,” “plan,” “intend,” “may,” “predict,” “continue,”

“estimate” and “potential,” or the negative of these terms or other similar expressions. Forward-looking statements

appear in a number of places in this press release and include, but are not limited to, statements regarding Snail’s intent, belief

or current expectations. These forward-looking statements include information about possible or assumed future results of Snail’s

business, financial condition, results of operations, liquidity, plans and objectives. The statements Snail makes regarding the following

matters are forward-looking by their nature: exiting 2025 with tailwinds that position the Company for stronger and more stable growth

and results; delivering year-over-year growth in Q2 driven by several upcoming ARK content releases; releasing Fantastic Tames Season

1 Expansion Pack in May 2026 and ARK Tides of Fortune alongside the remake of Genesis Part 1 coming to ASA in June 2026 providing a foundation

for the quarter to build on; recognizing approximately $11 million of deferred revenue backlog upon the release of Genesis Part 1; continuing

to execute on the Company’s strategy to become a fully integrated game developer and publisher; the upcoming AAA titles representing

an important step toward building new franchises with the potential for multi-year to multi-decade game lifespans that can complement

the scale of ASE and ASA; the eventual launch of the upcoming games positioning the Company to meaningfully diversify our revenue mix

beyond ARK; sharing additional information on For the Stars, Nine Yin Sutra: Immortal, and Nine Yin Sutra: Wushu; the next 12-18 months

being an inflection period for the Company as it advances its ARK pipeline and delivers on the investments it has have made across its

broader pipeline; the Company being recognized not only for ARK, but as a developer and publisher of multiple renown IPs and titles;

and remaining focused on unlocking the value of the Company pipeline and delivering results.

Any

forward-looking statements included herein reflect our current views, and they involve certain risks and uncertainties, including, among

others, acceptance of our titles in the marketplace and the successful development, marketing or sale of our titles and our ability to

retain our key employees or maintain our Nasdaq listing. These risks should not be construed as exhaustive and should be read together

with the other cautionary statement included in our Annual Report on Form 10-K for the year ended December 31, 2025, subsequent Quarterly

Reports on Form 10-Q and current reports on Form 8-K filed with the Securities and Exchange Commission. Any forward-looking statement

speaks only as of the date on which it was initially made. We undertake no obligation to publicly update or revise any forward-looking

statement, whether as a result of new information, future events, changed circumstances or otherwise, unless required by law.

Investor

Contact:

John

Yi and Steven Shinmachi

Gateway

Group, Inc.

949-574-3860

SNAL@gateway-grp.com

Snail,

Inc. and Subsidiaries

Condensed

Consolidated Balance Sheets as of March 31, 2026 and December 31, 2025 (Unaudited)

March 31, 2026

December 31, 2025

ASSETS

Current Assets:

Cash and cash equivalents

$ 14,259,168

$ 8,568,164

Restricted cash and cash equivalents

187,000

Accounts receivable, net of allowances for credit losses of $523,500 as of March 31, 2026 and December 31, 2025

9,206,357

12,528,347

Loan and interest receivable – related party

108,252

107,759

Prepaid expenses – related party

2,647,267

2,700,474

Prepaid expenses and other current assets

1,485,655

2,232,485

Prepaid taxes

904,099

4,734,007

Total current assets

28,797,798

31,058,236

Restricted cash and cash equivalents, net of current portion

1,748,000

Prepaid expenses – related party, net of current portion

8,229,767

8,282,974

Property and equipment, net

4,133,441

4,146,175

Intangible assets, net

3,848,124

3,827,927

Intangible assets, net – related party

4,666,667

4,916,667

Other noncurrent assets, net

836,060

604,793

Operating lease right-of-use assets, net

4,581,907

4,722,366

Total assets

$ 56,841,764

$ 59,307,138

LIABILITIES, NONCONTROLLING INTERESTS AND STOCKHOLDERS’ DEFICIT

Current Liabilities:

Accounts payable

$ 3,907,540

$ 5,506,332

Accounts payable – related parties

21,648,949

20,067,013

Accrued expenses and other liabilities

3,267,643

3,364,150

Interest payable – related parties

527,770

Convertible notes at fair value

2,382,255

3,842,189

Current portion of long-term debt

1,329,123

1,305,880

Current portion of deferred revenue

14,533,507

14,799,840

Current portion of operating lease liabilities

441,316

393,448

Total current liabilities

48,038,103

49,806,622

Accrued expenses

625,354

468,106

Revolving loan

2,500,000

5,000,000

Long-term debt, net of current portion

3,974,176

4,292,538

Deferred revenue, net of current portion

17,190,514

17,282,685

Operating lease liabilities, net of current portion

4,234,747

4,336,240

Total liabilities

76,562,894

81,186,191

Commitments and contingencies

Stockholders’ Deficit:

Class A common stock, $0.0001 par value, 500,000,000 shares authorized; 10,415,669 shares issued and 9,065,394 shares outstanding as of March 31, 2026, and 10,382,336 shares issued and 9,032,061 shares outstanding as of December 31, 2025

1,041

1,038

Class B common stock, $0.0001 par value, 100,000,000 shares authorized; 28,748,580 shares issued and outstanding as of March 31, 2026 and December 31, 2025

2,875

Additional paid-in capital

26,967,992

26,923,115

Accumulated other comprehensive loss

(296,562 )

(275,049 )

Accumulated deficit

(37,217,804 )

(39,352,510 )

Treasury stock at cost (1,350,275 shares as of March 31, 2026 and December 31, 2025)

(3,671,806 )

Total Snail, Inc. deficit

(14,214,264 )

(16,372,337 )

Noncontrolling interests

(5,506,866 )

(5,506,716 )

Total stockholders’ deficit

(19,721,130 )

(21,879,053 )

Total liabilities, noncontrolling interests and stockholders’ deficit

$ 56,841,764

$ 59,307,138

Snail,

Inc. and Subsidiaries

Condensed

Consolidated Statements of Operations and Comprehensive Income (Loss) for the Three months Ended March 31, 2026 and 2025 (Unaudited)

Three months ended March 31,

2026

2025

Revenues, net

$ 27,294,654

$ 20,110,872

Cost of revenues

15,638,213

14,263,345

Gross profit

11,656,441

5,847,527

Operating expenses:

General and administrative

4,650,757

4,964,351

Research and development

4,014,669

3,609,745

Advertising and marketing

868,789

1,306,365

Depreciation

12,734

67,904

Impairment expenses

69,149

—

Total operating expenses

9,616,098

9,948,365

Income (loss) from operations

2,040,343

(4,100,838 )

Other income (expense):

Interest income

41,847

29,906

Interest income – related parties

493

Interest expense

(206,046 )

(80,828 )

Other income

355,051

769,762

Foreign currency transaction gain (loss)

9,692

(36,288 )

Total other income, net

201,037

683,045

Income (loss) before provision for (benefit from) income taxes

2,241,380

(3,417,793 )

Provision for (benefit from) income taxes

106,824

(1,470,830 )

Net income (loss)

2,134,556

(1,946,963 )

Net loss attributable to non-controlling interests

(150 )

(956 )

Net income (loss) attributable to Snail, Inc.

$ 2,134,706

$ (1,946,007 )

Comprehensive income (loss) statement:

Net income (loss)

$ 2,134,556

$ (1,946,963 )

Other comprehensive income (loss) related to foreign currency translation adjustments, net of tax

(26,823 )

33,232

Other comprehensive income related to credit adjustments, net of tax

5,310

22,023

Total comprehensive income (loss)

$ 2,113,043

$ (1,891,708 )

Net income (loss) attributable to Class A common stockholders:

Basic

$ 510,510

$ (441,731 )

Diluted

$ 510,843

$ (521,393 )

Net income (loss) attributable to Class B common stockholders:

Basic

$ 1,624,196

$ (1,504,276 )

Diluted

$ 1,624,196

$ (1,775,558 )

Income (loss) per share attributable to Class A common stockholders:

Basic

$ 0.06

$ (0.05 )

Diluted

$ 0.05

$ (0.06 )

Income (loss) per share attributable to Class B common stockholders:

Basic

$ 0.06

$ (0.05 )

Diluted

$ 0.06

$ (0.06 )

Weighted-average shares used to compute income (loss) per share attributable to Class A common stockholders:

Basic

9,036,135

8,442,025

Diluted

9,529,396

9,241,822

Weighted-average shares used to compute income (loss) per share attributable to Class B common stockholders:

Basic

28,748,580

Diluted

28,748,580

Snail,

Inc. and Subsidiaries

Condensed

Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2026 and 2025 (Unaudited)

2026

2025

Cash flows from operating activities:

Net income (loss)

$ 2,134,556

$ (1,946,963 )

Adjustments to reconcile net income (loss) to net cash provided by operating activities:

Amortization – intangible assets, net

150,442

35,516

Amortization – intangible assets, net – related party

250,000

—

Amortization – film assets

140,709

212,709

Amortization – loan origination fees and debt discounts

2,949

(1,889 )

(Gain) loss on change in fair value of convertible notes

70,760

(117,105 )

Gain on change in fair value of warrant liabilities

(410,658 )

(639,518 )

Depreciation – property and equipment

12,734

67,904

Impairment of film assets

69,149

—

Stock-based compensation expenses

44,880

843,619

Deferred taxes, net

—

(2,041,515 )

Changes in assets and liabilities:

Accounts receivable

3,321,990

696,553

Accounts receivable – related party

—

2,503,407

Prepaid expenses – related party

106,414

(544,532 )

Prepaid expenses and other current assets

746,830

377,962

Prepaid taxes

3,829,908

143,451

Other noncurrent assets

(422,573 )

(656,562 )

Accounts payable

(1,621,431 )

(198,705 )

Accounts payable – related parties

1,581,936

623,430 )

Accrued expenses and other liabilities

471,399

(650,236 )

Loan and interest receivable – related party

(493 )

Lease liabilities

86,834

(80,510 )

Deferred revenue

(358,504 )

2,138,026

Net cash provided by operating activities

10,207,831

764,549

Cash flows from investing activities:

Acquisition of software

—

(290,000 )

Acquisition of software licenses

(162,000 )

(1,412,000 )

Investments in software

—

(177,002 )

Net cash used in investing activities

(162,000 )

(1,879,002 )

Cash flows from financing activities:

Repayments on promissory note

—

(21,546 )

Repayments on notes payable

(295,119 )

—

Repayments on convertible notes

(1,525,384 )

—

Repayments on revolving loan

(2,500,000 )

—

Cash proceeds from exercise of warrants

—

159,000

Proceeds from issuance of convertible notes

—

3,000,000

Payments of loan origination fees

(7,500 )

—

Net cash provided by (used in) financing activities

(4,328,003 )

3,137,454

Effect of foreign currency translation on cash and cash equivalents

(26,824 )

32,171

Net increase in cash and cash equivalents, and restricted cash and cash equivalents

5,691,004

2,055,172

Cash and cash equivalents, and restricted cash and cash equivalents – beginning of the period

10,503,164

8,238,944

Cash and cash equivalents, and restricted cash and cash equivalents – end of the period

$ 16,194,168

$ 10,294,116

Supplemental disclosures of cash flow information

Cash paid during the period for:

Interest

$ 228,053

$ 97,260

Income taxes

$ —

$ 184,707

Noncash transactions during the period for:

Liabilities converted to equity upon exercise of warrants

$ —

$ 323,113

Acquisition of film licenses in accounts payable

$ 14,000

$ 152,000

Acquisition of software and software licenses in accounts payable and accrued expenses

$ (8,639 )

$ 51,741

Change in fair value of notes recorded in accumulated other comprehensive income

$ 5,310

$ 22,023

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v3.26.1

Cover

May 13, 2026

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May 13, 2026

Entity File Number

001-41556

Entity Registrant Name

Snail,

Inc.

Entity Central Index Key

0001886894

Entity Tax Identification Number

88-4146991

Entity Incorporation, State or Country Code

Entity Address, Address Line One

12049

Jefferson Blvd

Entity Address, City or Town

Culver

City

Entity Address, State or Province

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90230

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(310)

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988-0643

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