Snail, Inc.

Thank you for standing by and welcome to Snail, Inc.' 's second quarter 2025 earnings conference call and webcast. I would now like to turn the call over to Stephen Shinmachi with Investor Relations.

Thank you and good afternoon, everyone. Welcome to Snail, Inc.' 's second quarter 2025 earnings conference call and webcast. Joining us for today's call are Snail, Inc.' 's co-CEO, Tony Tan, Senior Vice President, Director of Business Development and Operations, Peter King, and Chief Financial Officer Heidi Chow. The company's second quarter 2025 earnings press release was filed earlier today and is available on the investor relations section of Snail, Inc.' 's website at www.snail.com or the SEC's website at www.sec.gov. During this call, management may make forward-looking statements regarding future events and the future financial performance of the company. Actual events or results may differ materially from our expectations and forward-looking statements are subject to certain risks and uncertainties. Please refer to the company's Form 10-Q that has been filed with the SEC, the most recent Form 10-K that was filed with the SEC on March 26, 2025, and other SEC filings. The company makes these forward-looking statements as of today and disclaims any duty or obligation to update them or to release publicly any updates or revisions to any forward-looking statements to reflect any change in its expectations, or any change in events, conditions, or circumstances on which any statement is based. Additionally, on today's call, we referred to bookings and EBITDA, which are non-GAAP financial measures and provide useful information for the company's investors. You will find a historical reconciliation of bookings and EBITDA to the corresponding GAAP measures in the earnings press release and the company's SEC filings. And now, I will turn the call over to Tony Thien. Co-Chief Executive Officer of SNAIL. Sir, please proceed.

Thank you, and good afternoon, everyone. Thank you for joining us today to review our financial and operating results for the second quarter ended June 30, 2025. The second quarter was a transformative quarter for SNAIL, highlighted by the official announcement of our proprietary stablecoin project. We believe this project positions SNAIL as one of the pioneers within the gaming industry to embrace and adopt such initiatives. Heidi will provide a detailed overview of the strategic rationale behind our entry into stablecoins later in the call. But at a high level, the decision reflects strong alignment with our business model and external opportunities. As a gaming company, we see clear synergies and compelling use cases that make this move not just innovative, but also one with substantial long-term ROI potential. Snail's vision remains rooted in delivering innovative products and contents to the evolving gaming landscape. Our pursuit of launching a proprietary stablecoin reflects that vision and offers a path to generate meaningful value for our business and shareholders. We have been intentional in selecting and retaining the right partners to establish a strong foundation for success and have initiated our capital formation strategy through the recent ATM offering filed with the SEC. Marking the first step in our broader capital raising efforts tied directly to this stablecoin projects. We remain committed to transparency and will continue to share regular updates as the project progresses. We are confident in the transformative impact this stablecoin initiative will have once fully launched. Turning to our second quarter results, we saw a modest year-over-year increase in revenues, but more notably, saw meaningful growth in both bookings and units sold. Bookings rose by 18.5% to 27.1 million, and units sold increased by 58.4% to 2.1 million for the quarter. This growth was largely driven by strong performance in June, supported by our annual publisher sale, and the successful launch of new content celebrating the 10-year anniversary of ARK. The publisher sale event featured steep discounts across several of our most popular titles, driving a surge of new players across ARK and other games in our portfolio. A key highlight was ASE, which was discounted for the first time since 2023, resulting in significant uplift in its user base during the promotional period. Additionally, the ARC 10-year anniversary celebration brought substantial new content updates to ASA, further fueling engagement and growth. We also launched the pre-sale for ARC last colony in June, which contributed significantly to our bookings. Pre-sale performance slightly exceeded our internal projections and was the primary driver of the growth in bookings during Q2. Beyond the ARC franchise, we continued expanding our indie publishing portfolio under the Wandering Wizard label. In the quarter, we released several new indie titles and strategically acquired publishing rights to additional promising projects Peter will share more detailed insights into our gaming portfolio and roadmap here shortly. A quick note on our subsidiary, Indirective Films, and other short films business. We are continuing to progress on our MOU. We announced a few months ago on the joint development, production, and global distribution of at least 10 short dramas. Both sites are collaboratively working across the development phase and look forward to releasing these short film dramas together over the next couple of months. We also announced just last week that Interactive Films will be developing and publishing a new dating simulation title called The Fame Game Welcome to Hollywood. This marks A first for SNAIL within this genre, and the project benefits from the streamlined mechanics that allow for cost-effective development and rapid iteration while also preserving the game's emotional depth. Variable entry for the game is low, making the game accessible to casual players and for those who have an interest in a narrative-focused game. We expect a quick turnaround from development to launch, and we look forward to officially releasing this game later this year. Looking ahead to the future strategy of Snail, we will aim to execute a new strategy where we not only continue to drive growth in our core gaming business, but also steadily advance our stablecoin roadmap. Our gaming operations remain the cornerstone of our near-term focus and the foundation of our company. At the same time, the stablecoin initiative represents a long-term strategic opportunity with clear synergies across our portfolio. While external use cases of the stablecoin still remain fluid over time, we see the potential of these two pillars to become increasingly interconnected, enabling us to deliver new user experiences, innovative solutions, and unlock long-term value, something none if any of our competitors have been able to activate. Our team remains highly optimistic about Snail's future across both gaming and stablecoin initiatives. we are committed to executing on our vision and delivering sustained meaningful results for our shareholders. I will now hand it over to Peter to dive deeper into our gaming operations. Peter.