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Snail, Inc.

For the period ended Jun 30, 2026. Filed Aug 11, 2026.

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About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Jun 30, 2026 · Filed Aug 11, 2026

SNAL$1.95+7.1%Stored close · as of Nov 6, 2026
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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 10-Q

(Mark One)

☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934

For the quarterly period ended June 30,2026

OR

☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO

Commission File Number 001-41556

SNAIL, INC.

(Exact name of Registrant as specified in its Charter)

Delaware88-4146991
(State or other jurisdiction of incorporation or organization)(I.R.S. Employer Identification No.)
12049 Jefferson Blvd Culver City, CA90230
(Address of principal executive offices)(Zip code)

Registrant’s telephone number, including area code: +1(310) 988-0643

Securities registered pursuant to Section 12(b) of the Act:

Title of each classTrading Symbol (s)Name of each exchange on which registered
Class A common stock, par value $0.0001 per shareSNALThe Nasdaq Stock Market LLC (Nasdaq Capital Market)

Indicate by check mark whether the Registrant: (1) has filed all reports required to be filed by Section 13 or 15(d) of the Securities Exchange Act of 1934 during the preceding 12 months (or for such shorter period that the Registrant was required to file such reports), and (2) has been subject to such filing requirements for the past 90 days. YES ☒ NO ☐

Indicate by check mark whether the Registrant has submitted electronically every Interactive Data File required to be submitted pursuant to Rule 405 of Regulation S-T during the preceding 12 months (or for such shorter period that the Registrant was required to submit such files). YES ☒ NO ☐

Indicate by check mark whether the Registrant is a large accelerated filer, an accelerated filer, a non-accelerated filer, smaller reporting company, or an emerging growth company. See the definitions of “large accelerated filer,” “accelerated filer,” “smaller reporting company,” and “emerging growth company” in Rule 12b-2 of the Exchange Act.

Large accelerated filer☐Accelerated filer☐
Non-accelerated filer☒Smaller reporting company☒
Emerging growth company☒

If an emerging growth company, indicate by check mark if the Registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.☐

Indicate by check mark whether the Registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). YES ☐ NO☒

Indicate the number of shares outstanding of each of the registrant’s classes of common stock, as of the latest practicable date.

Class of Common StockOutstanding Shares as of August 10, 2026
Class A Common Stock, par value $0.0001 per share3,206,095
Class B Common Stock, par value $0.0001 per share5,749,716

SNAIL, INC. AND SUBSIDIARIES

Form 10-Q

For the Quarter Ended June 30, 2026

Table of Contents

Page
Cautionary Statement1
PART I. FINANCIAL INFORMATION
Item 1.Condensed Consolidated Financial Statements (Unaudited)2
Snail, Inc. and Subsidiaries Condensed Consolidated Balance Sheets as of June 30, 2026 and December 31, 20252
Snail, Inc. and Subsidiaries Condensed Consolidated Statements of Operations and Comprehensive Loss for the Three and Six Months Ended June 30, 2026 and 20253
Snail, Inc. and Subsidiaries Condensed Consolidated Statements of Equity (Deficit) for the Three and Six Months Ended June 30, 2026 and 20254
Snail, Inc. and Subsidiaries Condensed Consolidated Statements of Cash Flows for the Six Months Ended June 30, 2026 and 20255
Snail, Inc. and Subsidiaries Notes to Condensed Consolidated Financial Statements6
Item 2.Management’s Discussion and Analysis of Financial Condition and Results of Operations33
Item 3.Quantitative and Qualitative Disclosures About Market Risk48
Item 4.Controls and Procedures48
PART II. OTHER INFORMATION
Item 1.Legal Proceedings49
Item 1A.Risk Factors49
Item 2.Unregistered Sales of Equity Securities and Use of Proceeds54
Item 3.Defaults Upon Senior Securities55
Item 4.Mine Safety Disclosures55
Item 5.Other Information55
Item 6.Exhibits55
SIGNATURES56

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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.