Filing Flows › Snail (SNAL) › Q2 2025
Snail (SNAL) Q2 2025 earnings results (second quarter 2025)
10-Q filed Aug 19, 2025
Snail (SNAL) reported revenue of $22.2M for the second quarter 2025 (Q2 2025), +3% from a year earlier and +10% from the quarter before. Operating margin was -8.2%, net loss $16.6M (74.7% of revenue).
Snail, Q2 2025: revenue $22.2M (+3% year over year), operating margin -8.2%, net loss $16.6M, operating cash flow −$3.2M. The chart follows the revenue to costs, profit and cash.
| Q2 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $22.2M | +10% | +3% |
| Operating profit | −$1.8M | — | — |
| Net earnings | −$16.6M | — | — |
| Operating cash flow | −$3.2M | -516% | — |
What changed
Revenue was $22.2M in Q2 2025, up 3% year over year and up 10% from the previous quarter. PC was the largest line at 45% of revenue. Platform Three added $1.9M year over year (up 38%), 331% of the total change. Platform Four declined 24%.
Gross margin was 31.3%, down 6.2 points from a year earlier. Operating costs exceeded revenue by $1.8M, an operating margin of -8.2%. Operating expenses grew 62% against revenue growth of 3%. The fastest-growing cost line was Other operating costs (+500%). The quarter ended with a net loss of $16.6M, wider than the previous quarter's $1.9M loss.
Operating cash flow was −$3.2M. Non-cash charges added back $112K of depreciation and amortization. Working capital and other items added $13.3M.
Questions
What was Snail's revenue in the second quarter 2025?
Snail (SNAL) reported revenue of $22.2M for the second quarter 2025 (Q2 2025), +3% from a year earlier and +10% from the quarter before.
Was Snail profitable in the second quarter 2025?
Operating loss was $1.8M (-8.2% of revenue) and net loss $16.6M.
Source: Snail 10-Q on SEC EDGAR.