)
Edge28 Nov 2025
Keeping the Streak Alive: The Story of Duolingo
How Duolingo made language learning addictive, scaled to millions of users, and built a powerful subscription business around everyday practice.
Snail (SNAL) investor relations material
Snail Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary12 Nov, 2025
Executive summary
Q3 2025 saw strong engagement and sales in the ARK franchise, with ARK contributing over 88% of revenue for the quarter and 90% for the nine months ended September 30, 2025, but reported net revenues declined due to a $10.9 million increase in deferred revenue and revenue recognition timing.
Bookings increased 9.3% year-over-year in Q3 2025, driven by ARK: Survival Ascended, new DLC releases, and successful sales promotions.
Net loss for Q3 2025 was $7.9 million compared to net income of $0.2 million in Q3 2024; nine-month net loss was $26.4 million versus net income of $0.7 million in the prior year period.
Progress continued on proprietary stablecoin infrastructure and multi-state regulatory licensing, positioning for future digital payments innovation.
Operational highlights included new indie launches, industry event participation, and expansion in the SaltyTV short film business.
Financial highlights
Net revenue for Q3 2025 was $13.8 million, down 38.7% year-over-year, mainly due to increased deferred revenue of $10.9 million.
Deferred revenue at quarter-end was $36.4 million, with $26.5 million expected to be recognized in the next 12 months.
Bookings for Q3 2025 were $17.6 million, up 9.3% year-over-year; nine-month bookings increased 14.3% to $67 million.
Net loss for Q3 2025 was $7.9 million; EBITDA was a loss of $9.7 million, compared to a $0.5 million gain last year.
Unrestricted cash and cash equivalents stood at $12.3 million as of September 30, 2025.
Outlook and guidance
Q4 is expected to be significantly stronger, driven by the launch of ARK: Lost Colony and recognition of $5.8 million in deferred revenue.
Additional deferred revenue from Genesis 1 and 2 and other projects will be recognized in the upcoming year.
Management expects continued strong engagement from the ARK franchise and ongoing content releases, but notes that revenue recognition will be affected by deferred revenue from pre-sales and DLCs.
Continued investment in technology and content, including stablecoin infrastructure, is expected to yield long-term benefits.
Partial view of Summaries dataset, powered by Quartr API
Research faster. Power your platform.
Next Snail earnings date
Investor Day 202516 Dec, 2025
The essential earnings season companion
The #1 app for qualitative research. Live earnings calls, AI chat, transcripts, and more. All for free.
Live calls and transcripts
Listen to earnings calls, CMDs, investor conferences, and more – with a podcast-like experience.
Find what you need faster
Search for any keyword across all transcripts simultaneously.
Easily store key findings
Capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Your watchlist. Your dashboard.
Follow the companies that matter to you. Get a personalized feed with real-time updates.
Be the first to know
Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned.
Consensus estimates
Access analyst consensus estimates, valuation multiples, and revenue segments splits.
All IR material in one place
The easiest way to stay updated during earnings season.
Global coverage
All events from public companies. Live and recorded.
Just click and listen
No webcast links. No manual registrations.
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
)
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
)
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
excellent app, it gives me free access to company earnings calls and annual reports. I also love the convenience of calls being available offline so I can listen in whilst doing other things and even when internet or WiFi isn't available.
Leroy DaleyApp Store
One of the very few apps you could call perfect. If something was to add to it, maybe the share price of the company when you search for it, but it's already excellent.
Eferix Drawings Google Play
This is genuinely one of the cleanest and fastest finance apps out there to track the market.
anuj283App Store
I can't remember the last time an app had such a positive impact on my investment process.
)
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
I can't remember the last time an app had such a positive impact on my investment process.
@ankurshah47_ x.com
Love the app! Quartr makes it really easy to keep track of earnings calls. It also includes the reports and slides to make it easier to follow along.
Amina0781App Store
Quartr is amazing, no way around it. It is the best right now for earnings calls, presentations, and the like.
@theshortbearx.com
)
)
Frequently asked questions
Snail Inc. is a digital entertainment company specializing in the development, publishing, and operation of online and mobile games. The company offers a portfolio of games across genres such as role-playing, strategy, and action-adventure, serving players globally. In addition to gaming, Snail Inc. explores innovations in virtual reality (VR), augmented reality (AR), and blockchain technologies to enhance interactive entertainment experiences. The company is headquartered in Culver City, California, and its shares are listed on the NASDAQ.
Quartr provides global coverage of all investor relation material from public companies.
Mobile app: Research anytime, anywhere with the #1 app for live earnings calls, transcripts, analyst estimates, and more. All for free.
Desktop (Quartr Pro): The leading platform for qualitative research, used daily by top firms and financial institutions.
Quartr API: Build custom solutions powered by live earnings calls, live transcripts, filings and reports, slide presentations, and more.
Yes, the Quartr mobile app is free on both iOS and Android.
Yes. Quartr provides global, industry-leading live coverage of company events such as regular earnings calls, capital markets days, M&A announcements, and investor conferences. Live with zero delays. Just click and listen.
Yes, capturing important takeaways is as simple as it gets. Even during your lunch run or commute.
Yes. Follow the companies that matter to you. Get a personalized feed with real-time updates, a tailored earnings calendar, and instant alerts when earnings calls go live.
Yes. Set keyword alerts for any company, product, or competitor. Get notified the moment they're mentioned, regardless of who's talking.
Explore our global coverage