蜗牛游戏宣布2023年第四季度及全年财报业绩

Snail, Inc.

2024-04-02 04:30 5725

加州卡尔弗城2024年4月2日 /美通社/ -- Snail, Inc. (纳斯达克股票代码: SNAL) (以下简称"蜗牛"或"公司"）是一家领先的全球独立开发商和发行商，专注于互动数字娱乐，今日宣布截至2023年12月31日的第四季度和全年的财务业绩。

蜗牛游戏首席执行官Jim Tsai评论道："过去的一年对于蜗牛游戏来说充满了令人激动的里程碑。我们推出了方舟：生存飞升（ARK: Survival Ascended），并在首两周内销售超过60万份，而迄今销售量已突破150万套。我们很高兴看到方舟系列的持续热销，并计划在2024年再接再厉。"

2023年第四季度及全年业务亮点：

方舟：生存飞升。2023年10月25日，公司利用虚幻引擎 5 的绝佳画质推出了方舟系列旗舰作品的重制版，并引入了改变游戏的跨平台修改系统，开启了创造力的新时代。
- 发布当天，方舟：生存飞升在Steam 上为销量第一的游戏。
- 自游戏推出以来，方舟：生存飞升已售出 160 万份，且日均活跃用户（"DAUs"）达 18.2 万，最高达 30.8 万。
方舟：生存进化（ARK: Survival Evolved）。在截至2023年12月31日的三个月和全年中，方舟：生存进化的日均活跃用户分别为19.2万和23.5万。
- 方舟：生存进化2023 年第四季度的销量约为 70 万份。
- 截至2023年12月31日的全年销量约为440万份。

净收入截至2023年12月31日三个月为2,860万美元，而同比截至2022年12月31日三个月为1,530万美元。净收入的增加主要是由于方舟：生存飞升的发行。

净收入截至2023年12月31日全年为6,090万美元，较去年同期为7,440万美元。净收入减少的原因为方舟手游销售额减少290万美元，2022年确认的合同一次性递延性收入减少1,030万美元，在2022年的与免费下载促销和DLC有关的一次性付款850万美元未在2023年发生，以及与方舟有关的递延收入增加2,520万美元；部分被方舟销售额增加的3,270万美元所抵消。

净利润截至2023年12月31日三个月为240万美元，而同比截至2022年12月31日三个月的净亏损为230万美元。净利润的增加是由于方舟：生存飞升的发布，一般和行政费用减少250万美元，以及与遵守上市公司要求相关专业费用减少；部分被与方舟：生存飞升发行相关的增加的90万美元广告和营销成本，以及本期所得税收益减少390万美元所抵消。

净亏损截至2023年12月31日全年为910万美元，较同比截至2022年全年的净收入为100万美元。减少是由于收入减少了1,350万美元，研发成本增加了220万美元，广告和营销成本增加了90万美元，利息费用增加了60万美元，关联方利息收入减少了60万美元；部分被收入成本减少的480万美元和一般和行政费用减少的290万美元所抵消。

订购额（Bookings）截至2023年12月31日三个月为5,260万美元，而同比截至2022年12月31日三个月为1,190万美元。订购额的增加是由于方舟：生存飞升在Steam、PlayStation和Xbox平台的强势发布。

订购额截至2023年12月31日全年为8,570万美元，而同比截至2022年12月31日的全年为6,370万美元。订购额的增加是由于方舟：生存飞升在2023年第四季度发售。除了方舟：生存飞升销售额的增加，公司在2023年第四季度递延了方舟：生存飞升的尚未发布的DLC约2,200万美元的收入，以及在2022年确认的1,030万美元的一次性递延合同收入未在2023年发生。

息税折旧摊销前利润（"EBITDA"）截至2023年12月31日三个月较同比截至2022年12月31日三个月增加了880万美元，即169%。EBITDA的增长主要是净利润增加了470万美元，部分被所得税准备金增加的380万美元所抵消。

EBITDA截至2023年12月31日全年较同比截至2022年12月31日全年减少900万美元。EBITDA的减少主要是由于净利润减少了1,010万美元，部分被利息收入减少的70万美元和利息费用增加的60万美元所抵消。

截至2023年12月31日，未受限制的现金为1,520万美元，而同比截至2022年12月31日为1,290万美元。

非GAAP财务指标的使用

除了按照美国公认会计原则（GAAP）确定的财务结果外，蜗牛游戏认为，订购额（Bookings）和息税折旧摊销前利润(EBITDA)作为非GAAP指标，有助于评估其经营业绩。订购额和EBITDA是作为补充披露的非GAAP财务指标，不应被视为净利润（亏损）或收入这两个运营业绩指标的替代指标，也不应被视为衡量运营活动提供的现金流量的替代指标，两者均按照GAAP确定。蜗牛游戏补充呈现订购额和EBITDA，是为管理层用于评估财务业绩的关键运营指标。订购额调整了递延收入的影响，蜗牛游戏认为其提供了在给定时期内销售情况的有用指标。EBITDA调整了蜗牛游戏认为不反映其业务持续运营业绩的项目，例如某些非现金项目、不寻常或非经常性项目，或者期间内发生变化但对其运营业绩没有实质性关联的项目。管理层认为，订购额和EBITDA有助于投资者和分析师了解蜗牛游戏的关键经营业绩趋势，而其他指标可能因长期战略决策如资本结构、蜗牛游戏所在的税收管辖区和资本投资而产生差异。

订购额（Bookings）是指当期内以数字或实物方式销售的产品和服务的净额。订购额等于收入扣除递延的影响。以下是总净收入与订购额的调整，并是最接近GAAP的财务指标。

	Three Months ended December 31,		Years ended December 31,
	2023	2022	2023	2022
	(in millions)		(in millions)
Total net revenue	$ 28.6	$ 15.3	$ 60.9	$ 74.4
Change in deferred net revenue	24.0	(3.4)	24.8	(10.7)
Bookings	$ 52.6	$ 11.9	$ 85.7	$ 63.7

我们将EBITDA定义为净利润（亏损），扣除以下项目：(i)利息费用，(ii)利息收入，(iii)所得税准备金（收益）和(iv)折旧及摊销费用。以下表格提供了从净利润（亏损）与EBITDA的调整：

	Three Months ended December 31,		Years ended December 31,
	2023	2022	2023	2022
	(in millions)		(in millions)
Net (loss) income	$ 2.4	$ (2.3)	$ (9.1)	$ 1.0
Interest income and interest income – related parties	-	(0.2)	(0.1)	(0.8)
Interest expense and interest expense – related parties	0.5	0.3	1.5	0.9
(Benefit from) provision for income taxes	0.6	(3.2)	(2.4)	(2.4)
Depreciation and amortization expense, property and equipment	0.1	0.2	0.4	0.6
EBITDA	$ 3.6	$ (5.2)	$ (9.7)	$ (0.7)

会议详情

公司将于今天美国东部时间下午4:30举办一场会议，讨论2023年第四季度和全年财务业绩。参与者可以访问公司的投资者关系网站https://investor.snail.com/，加入会议直播和重播。

前瞻性声明

本新闻稿包含构成前瞻性声明的陈述。本新闻稿中包含的许多前瞻性声明可以通过使用"预期"、"相信"、"可能"、"预计"、"应该"、"计划"、"打算"、"预测"、"继续"、"估计"和"潜在"等前瞻性词汇或其他类似表达来识别。本新闻稿的多出出现前瞻性表述，包括但不限于，有关于蜗牛游戏的意图、信念或当前预期的声明。这些前瞻性声明包括关于蜗牛游戏的业务、财务状况、运营结果、流动性、计划和目标的可能或假设的未来结果的信息。蜗牛游戏就以下事项发表的声明属于前瞻性声明：增长前景和战略；推出新游戏和在商业上取得成功的游戏的附加功能内容；预期未来增长的重要驱动因素；其能够保留和增加其玩家群体、开发新的游戏和改善现有游戏的能力；包括来自其他休闲游戏开发商和发行商，以及大型和小型、上市和私营互联网公司在内的多个行业的公司的竞争；在控制人力成本的同时吸引和留住资质管理团队及其他团队成员的能力；与第三方平台的关系，如 Xbox Live 和 Game Pass、PlayStation Network、Steam、Epic Games Store、My Nintendo Store、Apple App Store、Google Play Store 和 Amazon Appstore；可寻址市场的规模、市场份额和市场趋势；其能够成功进入新市场和管理国际扩张的能力；保护和发展其品牌和知识产权组合；与捍卫知识产权侵权和其他索赔相关的成本；未来业务发展、运营结果和财务状况；涉及俄罗斯和乌克兰以及以色列和哈马斯的持续冲突对其业务和全球经济的影响；法院或其他政府机构的裁决；股票回购计划，包括预期回购的时间和方式；其进行并成功整合战略收购的计划；所有前述内容的基本假设。

有关可能影响蜗牛游戏财务业绩的风险、不确定性和其他因素的更多信息，请参阅蜗牛游戏不时向美国证券交易委员会（SEC）提交的文件、10-K 表年报和 10-Q 季报。您不应该依赖这些前瞻性声明，因为实际结果和成果可能会因这些风险和不确定性而与前瞻性声明中明示或暗示的结果和成果有实质性差异。本新闻稿中的所有前瞻性表述均基于管理层的信念和假设以及蜗牛游戏目前掌握的信息，蜗牛游戏没有义务更新所提供的前瞻性表述，以反映表述日期之后发生的事件或存在的情况。

关于蜗牛游戏

蜗牛是一家领先的全球独立开发商和发行商，为世界各地的消费者提供互动数字娱乐，拥有一流的优质游戏产品组合，专为在各种平台（包括游戏机、个人电脑和移动设备）上使用而设计。

更多信息，请联系：investors@snail.com

蜗牛游戏及其附属公司
合并资产负债表

	*December 31, 2023*	*December 31, 2022*

ASSETS

Current Assets:
Cash and cash equivalents	$ 15,198,123	$ 12,863,817
Restricted escrow deposit	-	1,003,804
Accounts receivable, net of allowances for credit losses of $523,500 and $19,929, respectively	25,134,808	6,758,024
Accounts receivable - related party	-	11,344,184
Loan and interest receivable - related party	103,753	101,753
Prepaid expenses - related party	6,044,404	-
Prepaid expenses and other current assets	10,169,448	10,565,141
Total current assets	56,650,536	42,636,723

Restricted cash and cash equivalents	1,116,196	6,374,368
Accounts receivable - related party, net of current portion	7,500,592	-
Prepaid expenses - related party	7,784,062	5,582,500
Property, plant and equipment, net	4,682,066	5,114,799
Intangible assets, net - license - related parties	-	1,384,058
Intangible assets, net - other	271,717	272,521
Deferred income taxes	10,247,500	7,602,536
Other noncurrent assets	164,170	198,668
Operating lease right-of-use assets, net	2,440,690	3,606,398
Total assets	$ 90,857,529	$ 72,772,571

LIABILITIES, NONCONTROLLING INTERESTS AND STOCKHOLDERS' EQUITY

Current Liabilities:
Accounts payable	$ 12,102,929	$ 9,452,391
Accounts payable - related parties	23,094,436	19,918,259
Accrued expenses and other liabilities	2,887,193	1,474,088
Interest payable - related parties	527,770	527,770
Revolving loan	6,000,000	9,000,000
Notes payable	2,333,333	5,416,666
Convertible notes, net of discount	797,361	-
Current portion of long-term promissory note	2,811,923	86,524
Current portion of deferred revenue	19,252,628	4,335,404
Current portion of operating lease liabilities	1,505,034	1,371,227
Total current liabilities	71,312,607	51,582,329

Accrued expenses	254,731	457,024
Promissory note, net of current portion	-	3,221,963
Deferred revenue, net of current portion	15,064,078	5,216,042
Operating lease liabilities, net of current portion	1,425,494	2,930,529
Total liabilities	88,056,910	63,407,887

Commitments and contingencies

Stockholders' Equity:
Class A common stock, $0.0001 par value, 500,000,000 shares authorized; 9,275,420 shares issued and 7,925,145 shares outstanding as of December 31, 2023, and 9,251,420 shares issued and 8,053,771 shares outstanding as of December 31, 2022	927	925
Class B common stock, $0.0001 par value, 100,000,000 shares authorized; 28,748,580 shares issued and outstanding as of December 31, 2023 and 2022	2,875	2,875
Additional paid-in capital	26,171,575	23,436,942
Accumulated other comprehensive loss	(254,383)	(307,200)
Accumulated deficit	(13,949,325)	(4,863,250)
	11,971,669	18,270,292
Treasury stock at cost (1,350,275 and 1,197,649 shares as of December 31, 2023 and 2022, respectively)	(3,671,806)	(3,414,713)
Total Snail, Inc. equity	8,299,863	14,855,579
Noncontrolling interests	(5,499,244)	(5,490,895)
Total stockholders' equity	2,800,619	9,364,684
Total liabilities, noncontrolling interests and stockholders' equity	$ 90,857,529	$ 72,772,571

蜗牛游戏及其附属公司
合并综合损益表

	Three months ended December 31,		For the Years Ended December 31,
	2023	2022	2023	2022
	(Unaudited)
Revenues, net	$ 28,570,222	$ 15,311,857	$ 60,902,098	$ 74,444,141
Cost of revenues	18,646,615	12,724,280	48,306,403	53,121,676

Gross profit	9,923,607	2,587,577	12,595,695	21,322,465

Operating expenses:
General and administrative	3,900,962	6,369,288	15,816,088	18,713,958
Research and development	1,165,381	1,295,631	5,057,421	2,955,592
Advertising and marketing	1,094,146	145,365	1,582,464	714,492
Depreciation and amortization	86,222	130,262	432,306	565,906
Loss (gain) on disposal of fixed assets	427	(17,067)	427	(17,067)
Total operating expenses	6,247,138	7,923,479	22,888,706	22,932,881

(Loss) income from operations	3,676,469	(5,335,902)	(10,293,011)	(1,610,416)

Other income (expense):
Interest income	31,443	155,124	129,854	200,913
Interest income - related parties	504	504	2,000	582,632
Interest expense	(570,523)	(308,955)	(1,531,719)	(922,293)
Interest expense - related parties	-	-	-	(3,222)
Other income	(55,351)	(17,068)	265,980	302,086
Foreign currency transaction (loss) gain	(42,574)	(23,623)	(68,180)	(1,945)
Total other income (expense), net	(636,501)	(194,018)	(1,202,065)	158,171

Income (loss) before (benefit from) provision for income taxes	3,039,968	(5,529,920)	(11,495,076)	(1,452,245)

Provision for (benefit from) income taxes	643,728	(3,249,728)	(2,400,652)	(2,446,423)

Net income (loss)	2,396,240	(2,280,192)	(9,094,424)	994,178

Net (loss) income attributable to non-controlling interests	(1,128)	(9,977)	(8,349)	46,371

Net income (loss) attributable to Snail, Inc. and Snail Games USA Inc.	$ 2,397,368	$ (2,270,215)	$ (9,086,075)	$ 947,807


Comprehensive income statement:

Net (loss) income	$ 2,396,240	$ (2,280,192)	$ (9,094,424)	$ 994,178
Other comprehensive income (loss) related to currency translation adjustments, net of tax	33,302	36,077	52,817	(40,643)

Total comprehensive income (loss)	$ 2,429,542	$ (2,244,115)	$ (9,041,607)	$ 953,535

Net income (loss) attributable to Class A common stockholders:
Basic	$ 516,955	$ (530,686)	$ (1,960,813)	$ 228,482
Diluted	$ 516,955	$ (530,686)	$ (1,960,813)	$ 228,482

Net income (loss) attributable to Class B common stockholders:
Basic	$ 1,880,413	$ (1,739,529)	$ (7,125,262)	$ 719,325
Diluted	$ 1,880,413	$ (1,739,529)	$ (7,125,262)	$ 719,325

Income (loss) per share attributable to Class A common stockholders:
Basic	$ 0.07	$ (0.06)	$ (0.25)	$ 0.03
Diluted	$ 0.07	$ (0.06)	$ (0.25)	$ 0.03

Income (loss) per share attributable to Class B common stockholders:
Basic	$ 0.07	$ (0.06)	$ (0.25)	$ 0.03
Diluted	$ 0.07	$ (0.06)	$ (0.25)	$ 0.03

Weighted-average shares used to compute income per share attributable to Class A common stockholders:
Basic	7,914,564	8,770,468	7,911,369	9,131,512
Diluted	7,914,564	8,770,468	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	28,748,580	28,748,580
Diluted	28,748,580	28,748,580	28,748,580	28,748,580

蜗牛游戏及其附属公司
合并现金流量表

*For the years ended December 31,*	2023	2022

Cash flows from operating activities:
Net (loss) income	$ (9,094,424)	$ 994,178
Adjustments to reconcile net (loss) income to net cash used in operating activities:
Amortization - intangible assets - license	-	250,000
Amortization - intangible assets - license, related parties	1,384,058	7,403,918
Amortization - intangible assets - other	804	3,751
Amortization - loan origination fees and debt discounts	124,595	26,514
Accretion - convertible notes	306,664	-
Depreciation and amortization - property and equipment	432,306	565,906
Stock-based compensation expense	848,035	223,250
Gain on lease termination	-	(122,533)
Gain on paycheck protection program and economic injury disaster loan forgiveness	-	(174,436)
Loss (gain) on disposal of fixed assets	427	(17,067)
Interest income from shareholder loan	-	(580,878)
Interest income from restricted escrow deposit	-	(3,804)
Credit losses	581,498	-
Deferred taxes, net	(2,644,964)	588,478

Changes in assets and liabilities:
Accounts receivable	(18,939,465)	5,486,716
Accounts receivable - related party	3,824,775	(2,908,361)
Prepaid expenses - related party	(8,245,966)	(2,437,500)
Prepaid expenses and other current assets	501,104	(1,875,919)
Other noncurrent assets	-	(26,052)
Accounts payable	2,992,856	4,976,192
Accounts payable - related parties	3,176,177	(3,815,313)
Accrued expenses and other liabilities	659,647	(1,039,927)
Interest receivable - related party	(2,000)	-
Interest payable - related parties	-	986
Lease liabilities	(205,520)	(145,949)
Deferred revenue	24,765,261	(10,729,488)
Net cash provided by (used in) operating activities	465,868	(3,357,338)

Cash flows from investing activities:
Repayment on loan provided by related party	-	(300,000)
Purchases of property and equipment	-	(5,256)
Proceeds from sale of property and equipment	-	19,500
Repayment on Pound Sand note	-	1,496,063
Net cash provided by investing activities	-	1,210,307

Cash flows from financing activities:
Repayments on promissory note	(79,897)	(70,961)
Repayments on notes payable	(6,500,000)	(4,166,667)
Repayments on revolving loan	(3,000,000)	-
Borrowings on notes payable	3,000,000	-
Borrowings on short-term note	-	10,000,000
Proceeds from issuance of convertible notes	847,500	-
Refund of dividend withholding tax overpayment	1,886,600	-
Payments on paycheck protection program and economic injury disaster loan	-	(90,198)
Refund of payments on paycheck protection program and economic injury disaster loan	-	48,305
Cash dividend declared and paid	-	(8,200,000)
Purchase of treasury stock	(257,093)	(3,414,713)
Proceeds from initial public offering, net of offering costs	-	11,791,705
Warrants issued to underwriters	-	193,927
Payments of capitalized offering costs	-	(1,247,567)
Payments of offering costs in accounts payable	(342,318)	-
Release of restricted escrow deposit	1,003,804	-
Net cash (used in) provided by financing activities	(3,441,404)	4,843,831

Effect of currency translation on cash and cash equivalents	51,670	(12,730)

Net (decrease) increase in cash and cash equivalents, and restricted cash and cash equivalents	(2,923,866)	2,684,070

Cash and cash equivalents, and restricted cash and cash equivalents - beginning of period	19,238,185	16,554,115

Cash and cash equivalents, and restricted cash and cash equivalents – end of period	$ 16,314,319	$ 19,238,185

Supplemental disclosures of cash flow information
Cash paid during the period for:
Interest	$ 934,523	$ 788,063
Income taxes	$ 248,388	$ 888,303
Noncash transactions during the period for:
Loan and interest payable - related parties	$ -	$ 103,890
Loan and interest receivable - related parties	$ -	$ (103,890)
Loan and interest from shareholder	$ -	$ 94,934,400
Dividend distribution	$ -	$ (94,934,400)
Noncash finance activity during the period for:
Issuance of warrants in connection with equity line of credit	$ (105,411)	$ -
Gain on paycheck protection program and economic injury disaster loan forgiveness	$ -	$ (174,436)
Snail Games USA Common Stock transferred due to reorganization	$ -	$ (5,000)
Snail, Inc. Common Stock and additional paid-in capital transferred due to reorganization	$ -	$ 5,000
Offering costs included in accounts payable	$ -	$ 605,295
Funding of the escrow deposit	$ -	$ (1,000,000)