The following is a summary of the Snail, Inc. (SNAL) Q1 2024 Earnings Call Transcript:

Financial Performance:

• Snail Inc's Q1 2024 net revenue increased year-over-year to $14.1 million from $13.5 million in Q1 2023.

• The net loss for Q1 2024 improved year-over-year, down to $1.8 million from a loss of $3.0 million in Q1 2023.

• The company's Q1 2024 bookings rose substantially to $19.6 million from $13.3 million in Q1 2023.

• The loss from EBITDA also improved in Q1 2024 to $1.9 million from the $3.4 million loss recorded in the same period last year.

Business Progress:

• Snail's franchise, ARK, achieved significant user engagement with 3.5 billion hours recorded by March 2024.

• The company's indie publishing label, Wandering Wizard, is planning an extensive launch for the Zombie Within game in Q4 2024.

• Updates to the ARK: Ascended's DLC release schedule, with a new map release planned every two months, have been announced.

• Snail's animated series for ARK has been well-received and has successfully attracted new players to the franchise.

• The firm is investing in AI technology for their product development, with three unannounced projects currently underway.

• Further announcements about the development of ARK 2 can be expected later this year.

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