Snail Inc
For the period ended Dec 31, 2023. Filed Apr 1, 2024.
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A company's yearly report to the SEC, with audited financial statements. It is the fullest account a company gives of its business, its finances and the risks it sees.
FY2023 · Filed Apr 1, 2024
SNAL$2.15+3.9%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Statements of Operations and Comprehensive Income (Loss)
Consolidated Statements of Operations and Comprehensive Income (Loss) for the Years Ended December 31, 2023 and 2022
| 2023 | 2022 | |
|---|---|---|
| Revenues, net | $60,902,098 | $74,444,141 |
| Cost of revenues | 48,306,403 | 53,121,676 |
| Gross profit | 12,595,695 | 21,322,465 |
| Operating expenses: | ||
| General and administrative | 15,816,088 | 18,713,958 |
| Research and development | 5,057,421 | 2,955,592 |
| Advertising and marketing | 1,582,464 | 714,492 |
| Depreciation and amortization | 432,306 | 565,906 |
| Loss (gain) on disposal of fixed assets | 427 | (17,067) |
| Total operating expenses | 22,888,706 | 22,932,881 |
| Loss from operations | (10,293,011) | (1,610,416) |
| Other income (expense): | ||
| Interest income | 129,854 | 200,913 |
| Interest income - related parties | 2,000 | 582,632 |
| Interest expense | (1,531,719) | (922,293) |
| Interest expense - related parties | - | (3,222) |
| Other income | 265,980 | 302,086 |
| Foreign currency transaction loss | (68,180) | (1,945) |
| Total other income (expense), net | (1,202,065) | 158,171 |
| Loss before benefit from income taxes | (11,495,076) | (1,452,245) |
| Benefit from income taxes | (2,400,652) | (2,446,423) |
| Net (loss) income | (9,094,424) | 994,178 |
| Net (loss) income attributable to non-controlling interests | (8,349) | 46,371 |
| Net (loss) income attributable to Snail, Inc. and Snail Games USA Inc. | $(9,086,075) | $947,807 |
| Comprehensive income (loss) statement: | ||
| Net (loss) income | $(9,094,424) | $994,178 |
| Other comprehensive income (loss) related to foreign currency translation adjustments, net of tax | 52,817 | (40,643) |
| Total comprehensive (loss) income | $(9,041,607) | $953,535 |
| Net (loss) income attributable to Class A common stockholders: | ||
| Basic | $(1,960,813) | $228,482 |
| Diluted | $(1,960,813) | $228,482 |
| Net (loss) income attributable to Class B common stockholders: | ||
| Basic | $(7,125,262) | $719,325 |
| Diluted | $(7,125,262) | $719,325 |
| (Loss) income per share attributable to Class A and B common stockholders: | ||
| Basic | $(0.25) | $0.03 |
| Diluted | $(0.25) | $0.03 |
| Weighted-average shares used to compute income per share attributable to Class A common stockholders(1): | ||
| Basic | 7,911,369 | 9,131,512 |
| Diluted | 7,911,369 | 9,131,512 |
| Weighted-average shares used to compute income per share attributable to Class B common stockholders: | ||
| Basic | 28,748,580 | 28,748,580 |
| Diluted | 28,748,580 | 28,748,580 |
| (1) | The shares used for the denominator in the calculation of EPS are presented as if the IPO occurred on January 1, 2022 for comparative purposes. |
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