Snail (SNAL) AGM 2026 summary

Opening remarks and agenda

• Meeting commenced virtually at 10:00 A.M. Pacific Time on May 27, 2026, with introductions of the management team and board members.

• A business overview video was presented, followed by live business proceedings and a Q&A session.

Financial performance review

• Q2 is expected to benefit from key product initiatives, including the console launch of Bellwright, which has surpassed 1 million PC units sold.

• Baseline bookings in Q2 2025 were $23.5 million (excluding The Lost Colony pre-sale), and $17.6 million in Q3 2025 without major releases.

• Consistent operational performance provides reliable recurring cash flow, positioning the 2026 release pipeline as incremental upside.

• Q1 2026 saw a turnaround to net income of over $2 million.

• Annualized $6 million reduction in ARK licensing costs has improved profit margins, with ongoing cost optimization.

• Budget for 2026 is 20%-30% higher than last year, with revenue expected to exceed $100 million.

Board and executive committee updates

• Board consists of eight directors, including the CEO, CFO, and SVP, with audit committee members and independent auditors present.