蝸牛游戲宣布2023年第四季度及全年財報業績

Snail, Inc.

2024-04-02 04:30 8721

加州卡爾弗城2024年4月2日 /美通社/ -- Snail, Inc. (納斯達克股票代碼: SNAL) (以下簡稱"蝸牛"或"公司"）是一家領先的全球獨立開發商和發行商，專注于互動數字娛樂，今日宣布截至2023年12月31日的第四季度和全年的財務業績。

蝸牛游戲首席執行官Jim Tsai評論道："過去的一年對于蝸牛游戲來說充滿了令人激動的里程碑。我們推出了方舟：生存飛升（ARK: Survival Ascended），并在首兩周內銷售超過60萬份，而迄今銷售量已突破150萬套。我們很高興看到方舟系列的持續熱銷，并計劃在2024年再接再厲。"

2023年第四季度及全年業務亮點：

方舟：生存飛升。2023年10月25日，公司利用虛幻引擎 5 的絕佳畫質推出了方舟系列旗艦作品的重制版，并引入了改變游戲的跨平臺修改系統，開啟了創造力的新時代。
- 發布當天，方舟：生存飛升在Steam 上為銷量第一的游戲。
- 自游戲推出以來，方舟：生存飛升已售出 160 萬份，且日均活躍用戶（"DAUs"）達 18.2 萬，最高達 30.8 萬。
方舟：生存進化（ARK: Survival Evolved）。在截至2023年12月31日的三個月和全年中，方舟：生存進化的日均活躍用戶分別為19.2萬和23.5萬。
- 方舟：生存進化2023 年第四季度的銷量約為 70 萬份。
- 截至2023年12月31日的全年銷量約為440萬份。

凈收入截至2023年12月31日三個月為2,860萬美元，而同比截至2022年12月31日三個月為1,530萬美元。凈收入的增加主要是由于方舟：生存飛升的發行。

凈收入截至2023年12月31日全年為6,090萬美元，較去年同期為7,440萬美元。凈收入減少的原因為方舟手游銷售額減少290萬美元，2022年確認的合同一次性遞延性收入減少1,030萬美元，在2022年的與免費下載促銷和DLC有關的一次性付款850萬美元未在2023年發生，以及與方舟有關的遞延收入增加2,520萬美元；部分被方舟銷售額增加的3,270萬美元所抵消。

凈利潤截至2023年12月31日三個月為240萬美元，而同比截至2022年12月31日三個月的凈虧損為230萬美元。凈利潤的增加是由于方舟：生存飛升的發布，一般和行政費用減少250萬美元，以及與遵守上市公司要求相關專業費用減少；部分被與方舟：生存飛升發行相關的增加的90萬美元廣告和營銷成本，以及本期所得稅收益減少390萬美元所抵消。

凈虧損截至2023年12月31日全年為910萬美元，較同比截至2022年全年的凈收入為100萬美元。減少是由于收入減少了1,350萬美元，研發成本增加了220萬美元，廣告和營銷成本增加了90萬美元，利息費用增加了60萬美元，關聯方利息收入減少了60萬美元；部分被收入成本減少的480萬美元和一般和行政費用減少的290萬美元所抵消。

訂購額（Bookings）截至2023年12月31日三個月為5,260萬美元，而同比截至2022年12月31日三個月為1,190萬美元。訂購額的增加是由于方舟：生存飛升在Steam、PlayStation和Xbox平臺的強勢發布。

訂購額截至2023年12月31日全年為8,570萬美元，而同比截至2022年12月31日的全年為6,370萬美元。訂購額的增加是由于方舟：生存飛升在2023年第四季度發售。除了方舟：生存飛升銷售額的增加，公司在2023年第四季度遞延了方舟：生存飛升的尚未發布的DLC約2,200萬美元的收入，以及在2022年確認的1,030萬美元的一次性遞延合同收入未在2023年發生。

息稅折舊攤銷前利潤（"EBITDA"）截至2023年12月31日三個月較同比截至2022年12月31日三個月增加了880萬美元，即169%。EBITDA的增長主要是凈利潤增加了470萬美元，部分被所得稅準備金增加的380萬美元所抵消。

EBITDA截至2023年12月31日全年較同比截至2022年12月31日全年減少900萬美元。EBITDA的減少主要是由于凈利潤減少了1,010萬美元，部分被利息收入減少的70萬美元和利息費用增加的60萬美元所抵消。

截至2023年12月31日，未受限制的現金為1,520萬美元，而同比截至2022年12月31日為1,290萬美元。

非GAAP財務指標的使用

除了按照美國公認會計原則（GAAP）確定的財務結果外，蝸牛游戲認為，訂購額（Bookings）和息稅折舊攤銷前利潤(EBITDA)作為非GAAP指標，有助于評估其經營業績。訂購額和EBITDA是作為補充披露的非GAAP財務指標，不應被視為凈利潤（虧損）或收入這兩個運營業績指標的替代指標，也不應被視為衡量運營活動提供的現金流量的替代指標，兩者均按照GAAP確定。蝸牛游戲補充呈現訂購額和EBITDA，是為管理層用于評估財務業績的關鍵運營指標。訂購額調整了遞延收入的影響，蝸牛游戲認為其提供了在給定時期內銷售情況的有用指標。EBITDA調整了蝸牛游戲認為不反映其業務持續運營業績的項目，例如某些非現金項目、不尋常或非經常性項目，或者期間內發生變化但對其運營業績沒有實質性關聯的項目。管理層認為，訂購額和EBITDA有助于投資者和分析師了解蝸牛游戲的關鍵經營業績趨勢，而其他指標可能因長期戰略決策如資本結構、蝸牛游戲所在的稅收管轄區和資本投資而產生差異。

訂購額（Bookings）是指當期內以數字或實物方式銷售的產品和服務的凈額。訂購額等于收入扣除遞延的影響。以下是總凈收入與訂購額的調整，并是最接近GAAP的財務指標。

	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

我們將EBITDA定義為凈利潤（虧損），扣除以下項目：(i)利息費用，(ii)利息收入，(iii)所得稅準備金（收益）和(iv)折舊及攤銷費用。以下表格提供了從凈利潤（虧損）與EBITDA的調整：

	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)

會議詳情

公司將于今天美國東部時間下午4:30舉辦一場會議，討論2023年第四季度和全年財務業績。參與者可以訪問公司的投資者關系網站https://investor.snail.com/，加入會議直播和重播。

前瞻性聲明

本新聞稿包含構成前瞻性聲明的陳述。本新聞稿中包含的許多前瞻性聲明可以通過使用"預期"、"相信"、"可能"、"預計"、"應該"、"計劃"、"打算"、"預測"、"繼續"、"估計"和"潛在"等前瞻性詞匯或其他類似表達來識別。本新聞稿的多出出現前瞻性表述，包括但不限于，有關于蝸牛游戲的意圖、信念或當前預期的聲明。這些前瞻性聲明包括關于蝸牛游戲的業務、財務狀況、運營結果、流動性、計劃和目標的可能或假設的未來結果的信息。蝸牛游戲就以下事項發表的聲明屬于前瞻性聲明：增長前景和戰略；推出新游戲和在商業上取得成功的游戲的附加功能內容；預期未來增長的重要驅動因素；其能夠保留和增加其玩家群體、開發新的游戲和改善現有游戲的能力；包括來自其他休閑游戲開發商和發行商，以及大型和小型、上市和私營互聯網公司在內的多個行業的公司的競爭；在控制人力成本的同時吸引和留住資質管理團隊及其他團隊成員的能力；與第三方平臺的關系，如 Xbox Live 和 Game Pass、PlayStation Network、Steam、Epic Games Store、My Nintendo Store、Apple App Store、Google Play Store 和 Amazon Appstore；可尋址市場的規模、市場份額和市場趨勢；其能夠成功進入新市場和管理國際擴張的能力；保護和發展其品牌和知識產權組合；與捍衛知識產權侵權和其他索賠相關的成本；未來業務發展、運營結果和財務狀況；涉及俄羅斯和烏克蘭以及以色列和哈馬斯的持續沖突對其業務和全球經濟的影響；法院或其他政府機構的裁決；股票回購計劃，包括預期回購的時間和方式；其進行并成功整合戰略收購的計劃；所有前述內容的基本假設。

有關可能影響蝸牛游戲財務業績的風險、不確定性和其他因素的更多信息，請參閱蝸牛游戲不時向美國證券交易委員會（SEC）提交的文件、10-K 表年報和 10-Q 季報。您不應該依賴這些前瞻性聲明，因為實際結果和成果可能會因這些風險和不確定性而與前瞻性聲明中明示或暗示的結果和成果有實質性差異。本新聞稿中的所有前瞻性表述均基于管理層的信念和假設以及蝸牛游戲目前掌握的信息，蝸牛游戲沒有義務更新所提供的前瞻性表述，以反映表述日期之后發生的事件或存在的情況。

關于蝸牛游戲

蝸牛是一家領先的全球獨立開發商和發行商，為世界各地的消費者提供互動數字娛樂，擁有一流的優質游戲產品組合，專為在各種平臺（包括游戲機、個人電腦和移動設備）上使用而設計。

更多信息，請聯系：investors@snail.com

蝸牛游戲及其附屬公司
合并資產負債表

	*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

蝸牛游戲及其附屬公司
合并綜合損益表

	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

蝸牛游戲及其附屬公司
合并現金流量表

*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)