Snail Inc. has reported its financial results for the first quarter of 2025. The company achieved total net revenue of $20.1 million, marking an increase from the $14.1 million reported in the same period of the previous year. This growth in revenue is accompanied by a rise in Bookings, which reached $22.2 million, up from $19.6 million in the first quarter of 2024. However, Snail Inc. reported a net loss of $1.9 million for the first quarter of 2025, slightly larger than the $1.8 million net loss from the previous year. The company's EBITDA for the same period was negative, at $(3.2) million, compared to $(1.9) million in 2024. Additionally, as of March 31, 2025, Snail Inc. had unrestricted cash amounting to $9.4 million, an increase from $7.3 million as of December 31, 2024. These financial metrics reflect the company's ongoing efforts in evaluating its operating performance through the use of non-GAAP measures like Bookings and EBITDA, which are considered by management to be useful in highlighting trends in performance.
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