蝸牛游戲宣布2024年第二季度財(cái)報(bào)業(yè)績

截至6月30日的三個(gè)月,

截至6月30日的六個(gè)月,

2024

2023

2024

2023

(單位：百萬美元)

(單位：百萬美元)

總收入

$

21.6

$

9.9

$

35.7

$

23.4

遞延收入變化

1.3

(0.6)

6.7

(0.8)

訂購額

$

22.9

$

9.3

$

42.4

$

22.6

截至6月30日的三個(gè)月,

截至6月30日的六個(gè)月,

2024

2023

2024

2023

(單位：百萬美元)

(單位：百萬美元)

凈利潤（虧損）

$

2.3

$

(4.1)

$

0.5

$

(7.1)

利息收入和關(guān)聯(lián)方利息收入

(0.1)

-

(0.2)

(0.1)

利息費(fèi)用和關(guān)聯(lián)方利息費(fèi)用

0.2

0.3

0.6

0.6

所得稅撥備（收益）

0.6

(1.1)

0.1

(1.9)

折舊及攤銷費(fèi)用

0.1

0.1

0.2

0.2

EBITDA

$

3.1

$

(4.8)

$

1.2

$

(8.3)

June 30, 2024

December 31, 2023

ASSETS

Current Assets:

Cash and cash equivalents

$

15,494,156

$

15,198,123

Accounts receivable, net of allowances for credit losses of
$523,500 as of June 30, 2024 and December 31, 2023

8,212,318

25,134,808

Accounts receivable - related party

2,690,306

-

Loan and interest receivable - related party

104,751

103,753

Prepaid expenses - related party

4,151,547

6,044,404

Prepaid expenses and other current assets

1,290,375

639,693

Prepaid taxes

9,640,169

9,529,755

Total current assets

41,583,622

56,650,536

Restricted cash and cash equivalents

1,118,437

1,116,196

Accounts receivable - related party, net of current portion

4,500,592

7,500,592

Prepaid expenses - related party, net of current portion

11,209,590

7,784,062

Property and equipment, net

4,519,174

4,682,066

Intangible assets, net - other

271,316

271,717

Deferred income taxes

10,187,267

10,247,500

Other noncurrent assets

166,303

164,170

Operating lease right-of-use assets, net

1,831,269

2,440,690

Total assets

$

75,387,570

$

90,857,529

LIABILITIES, NONCONTROLLING INTERESTS AND 
STOCKHOLDERS' EQUITY

Current Liabilities:

Accounts payable

$

5,021,234

$

12,102,929

Accounts payable - related parties

16,742,358

23,094,436

Accrued expenses and other liabilities

2,166,996

2,887,193

Interest payable - related parties

527,770

527,770

Revolving loan

3,000,000

6,000,000

Notes payable

-

2,333,333

Convertible notes, net of discount

-

797,361

Current portion of long-term promissory note

2,771,040

2,811,923

Current portion of deferred revenue

21,451,307

19,252,628

Current portion of operating lease liabilities

1,575,578

1,505,034

Total current liabilities

53,256,283

71,312,607

Accrued expenses

254,731

254,731

Deferred revenue, net of current portion

18,866,375

15,064,078

Operating lease liabilities, net of current portion

615,887

1,425,494

Total liabilities

72,993,276

88,056,910

Commitments and contingencies

Stockholders' Equity:

Class A common stock, $0.0001 par value, 500,000,000 shares
authorized; 9,368,619 shares issued and 8,018,344 shares outstanding
as of June 30, 2024, and 9,275,420 shares issued and 7,925,145
shares outstanding as of December 31, 2023

936

927

Class B common stock, $0.0001 par value, 100,000,000 shares
authorized; 28,748,580 shares issued and outstanding as of June 30,
2024 and December 31, 2023.

2,875

2,875

Additional paid-in capital

25,319,673

26,171,575

Due from shareholder - loan receivable

-

-

Due from shareholder - interest receivable

-

-

Accumulated other comprehensive loss

(282,973)

(254,383)

Accumulated deficit

(13,472,503)

(13,949,325)

Treasury stock at cost (1,350,275 as of June 30, 2024 and December
31, 2023)

(3,671,806)

(3,671,806)

Total Snail, Inc. equity

7,896,202

8,299,863

Noncontrolling interests

(5,501,908)

(5,499,244)

Total stockholders' equity

2,394,294

2,800,619

Total liabilities, noncontrolling interests and stockholders' equity

$

75,387,570

$

90,857,529

Three months ended June 30,

Six months ended June 30,

2024

2023

2024

2023

Revenues, net

$

21,606,650

$

9,892,253

$

35,722,379

$

23,350,741

Cost of revenues

13,504,174

9,335,765

25,545,872

20,196,702

Gross profit

8,102,476

556,488

10,176,507

3,154,039

Operating expenses:

General and administrative

2,795,884

3,937,234

5,077,924

8,462,985

Research and development

1,860,881

1,200,842

3,637,403

2,574,639

Advertising and marketing

694,195

168,292

835,225

272,841

Depreciation and amortization

80,554

118,110

162,892

233,170

Total operating expenses

5,431,514

5,424,478

9,713,444

11,543,635

Income (loss) from operations

2,670,962

(4,867,990)

463,063

(8,389,596)

Other income (expense):

Interest income

64,790

19,791

164,552

51,264

Interest income - related parties

498

499

997

992

Interest expense

(142,301)

(296,237)

(538,265)

(590,820)

Other income

244,527

-

471,593

8,175

Foreign currency transaction gain
(loss)

5,652

(21,845)

23,780

(24,212)

Total other income (expense), net

173,166

(297,792)

122,657

(554,601)

Income (loss) before benefit from income
taxes

2,844,128

(5,165,782)

585,720

(8,944,197)

Provision for (benefit from) income taxes

589,512

(1,081,887)

111,562

(1,887,705)

Net income (loss)

2,254,616

(4,083,895)

474,158

(7,056,492)

Net loss attributable to non-controlling interests

(1,535)

(4,464)

(2,664)

(5,683)

Net income (loss) attributable to Snail,
Inc.

$

2,256,151

$

(4,079,431)

$

476,822

$

(7,050,809)

Comprehensive income (loss)
statement:

Net income (loss)

$

2,254,616

$

(4,083,895)

$

474,158

$

(7,056,492)

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

(9,293)

18,707

(28,590)

21,027

Total comprehensive income (loss)

$

2,245,323

$

(4,065,188)

$

445,568

$

(7,035,465)

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

Basic

$

489,379

$

(879,665)

$

103,656

$

(1,522,005)

Diluted

$

463,249

$

(879,665)

$

79,116

$

(1,522,005)

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

Basic

$

1,766,772

$

(3,199,766)

$

373,166

$

(5,528,804)

Diluted

$

1,673,031

$

(3,199,766)

$

284,821

$

(5,528,804)

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

Basic

$

0.06

$

(0.11)

$

0.01

$

(0.19)

Diluted

$

0.06

$

(0.11)

$

0.01

$

(0.19)

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

Basic

$

0.06

$

(0.11)

$

0.01

$

(0.19)

Diluted

$

0.06

$

(0.11)

$

0.01

$

(0.19)

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

Basic

8,013,634

7,901,145

7,985,631

7,914,096

Diluted

8,196,329

7,901,145

8,225,025

7,914,096

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

Basic

28,748,580

28,748,580

28,748,580

28,748,580

Diluted

28,748,580

28,748,580

28,748,580

28,748,580

For the six months ended June 30,

2024

2023

Cash flows from operating activities:

Net income (loss)

$

474,158

$

(7,056,492)

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

Amortization - intangible assets - license, related parties

-

1,057,971

Amortization - intangible assets - other

401

402

Amortization - loan origination fees and debt discounts

57,632

20,726

Accretion - convertible notes

222,628

-

Depreciation and amortization - property and equipment

162,892

233,170

Stock-based compensation expense

(911,893)

385,365

Interest income from restricted escrow deposit

-

(21,389)

Deferred taxes, net

60,233

(1,887,705)

Changes in assets and liabilities:

Accounts receivable

16,922,490

1,794,458

Accounts receivable - related party

309,694

(389,042)

Prepaid expenses - related party

(1,532,672)

(2,500,000)

Prepaid expenses and other current assets

(650,682)

234,940

Prepaid taxes

(110,414)

-

Other noncurrent assets

-

(2,903)

Accounts payable

(6,818,781)

(701,488)

Accounts payable - related parties

(6,352,078)

(307,052)

Accrued expenses and other liabilities

(720,197)

1,131,886

Interest receivable - related party

(997)

(992)

Lease liabilities

(129,642)

(98,822)

Deferred revenue

6,000,976

(765,599)

Net cash provided by (used in) operating activities

6,983,748

(8,872,566)

Cash flows from financing activities:

Repayments on promissory note

(40,883)

(46,517)

Repayments on notes payable

(2,333,333)

(2,916,666)

Repayments on convertible notes

(1,020,000)

-

Repayments on revolving loan

(3,000,000)

(3,000,000)

Purchase of treasury stock

-

(257,093)

Payments of capitalized offering costs

-

(92,318)

Payments of offering costs in accounts payable

(262,914)

-

Net cash used in financing activities

(6,657,130)

(6,312,594)

Effect of currency translation on cash and cash equivalents

(28,344)

21,095

Net increase (decrease) in cash and cash equivalents, and restricted
cash and cash equivalents

298,274

(15,164,065)

Cash and cash equivalents, and restricted cash and cash equivalents -
beginning of period

16,314,319

19,238,185

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

$

16,612,593

$

4,074,120

Supplemental disclosures of cash flow information

Cash paid during the period for:

Interest

$

305,825

$

568,908

Income taxes

$

161,671

$

270,802

Noncash finance activity during the period for:

Debt converted to equity

$

(60,000)

$

-

Refund of dividend withholding tax overpayment

$

-

$

1,886,559