Snail, Inc.
For the period ended Dec 31, 2025. Filed Mar 19, 2026.
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FY2025 · Filed Mar 19, 2026
SNAL$2.07+6.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Consolidated Balance Sheets
| December 31, 2025 | December 31, 2024 | |
|---|---|---|
| ASSETS | ||
| Current Assets: | ||
| Cash and cash equivalents | $8,568,164 | $7,303,944 |
| Restricted cash and cash equivalents | 187,000 | — |
| Accounts receivable, net of allowances for credit losses of $523,500 as of December 31, 2025 and 2024 | 12,528,347 | 9,814,822 |
| Accounts receivable – related party | — | 2,336,274 |
| Loan and interest receivable – related party | 107,759 | 105,759 |
| Prepaid expenses – related party | 2,700,474 | 2,521,291 |
| Prepaid expenses and other current assets | 2,232,485 | 1,846,024 |
| Prepaid taxes | 4,734,007 | 7,318,424 |
| Total current assets | 31,058,236 | 31,246,538 |
| Restricted cash and cash equivalents, net of current portion | 1,748,000 | 935,000 |
| Accounts receivable – related party, net of current portion | — | 1,500,592 |
| Prepaid expenses – related party, net of current portion | 8,282,974 | 9,378,594 |
| Property and equipment, net | 4,146,175 | 4,378,352 |
| Intangible assets, net | 3,827,927 | 973,914 |
| Intangible assets, net – related party | 4,916,667 | — |
| Deferred income taxes | — | 10,817,112 |
| Other noncurrent assets, net | 604,793 | 1,683,932 |
| Operating lease right-of-use assets, net | 4,722,366 | 1,279,330 |
| Total assets | $59,307,138 | $62,193,364 |
| LIABILITIES, NONCONTROLLING INTERESTS AND STOCKHOLDERS’ EQUITY (DEFICIT) | ||
| Current Liabilities: | ||
| Accounts payable | $5,506,332 | $4,656,367 |
| Accounts payable – related parties | 20,067,013 | 15,383,171 |
| Accrued expenses and other liabilities | 3,364,150 | 4,499,280 |
| Interest payable – related parties | 527,770 | 527,770 |
| Revolving loan | — | 3,000,000 |
| Convertible notes at fair value | 3,842,189 | — |
| Current portion of long-term debt | 1,305,880 | 2,722,548 |
| Current portion of deferred revenue | 14,799,840 | 3,947,559 |
| Current portion of operating lease liabilities | 393,448 | 1,444,385 |
| Total current liabilities | 49,806,622 | 36,181,080 |
| Accrued expenses | 468,106 | 265,251 |
| Revolving loan | 5,000,000 | — |
| Long-term debt, net of current portion | 4,292,538 | — |
| Deferred revenue, net of current portion | 17,282,685 | 21,519,888 |
| Operating lease liabilities, net of current portion | 4,336,240 | 57,983 |
| Total liabilities | 81,186,191 | 58,024,202 |
| Commitments and contingencies | - | - |
| Stockholders’ Equity (Deficit): | ||
| Class A common stock, $0.0001 par value, 500,000,000 shares authorized; 10,382,336 shares issued and 9,032,061 shares outstanding as of December 31, 2025, and 9,626,070 shares issued and 8,275,795 shares outstanding as of December 31, 2024 | 1,038 | 962 |
| Class B common stock, $0.0001 par value, 100,000,000 shares authorized; 28,748,580 shares issued and outstanding as of December 31, 2025 and December 31, 2024 | 2,875 | 2,875 |
| Additional paid-in capital | 26,923,115 | 25,738,082 |
| Accumulated other comprehensive loss | (275,049) | (279,457) |
| Accumulated deficit | (39,352,510) | (12,117,385) |
| Treasury stock at cost (1,350,275 shares as of December 31, 2025 and 2024) | (3,671,806) | (3,671,806) |
| Total Snail, Inc. equity (deficit) | (16,372,337) | 9,673,271 |
| Noncontrolling interests | (5,506,716) | (5,504,109) |
| Total stockholders’ equity (deficit) | (21,879,053) | 4,169,162 |
| Total liabilities, noncontrolling interests and stockholders’ equity (deficit) | $59,307,138 | $62,193,364 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.