XML 22 R12.htm IDEA: XBRL DOCUMENT
v3.23.3

REVENUE FROM CONTRACTS WITH CUSTOMERS | 9 Months Ended
--- | ---
Sep. 30, 2023
Revenue from Contract with Customer [Abstract] |
REVENUE FROM CONTRACTS WITH CUSTOMERS | NOTE 3 – REVENUE FROM CONTRACTS WITH CUSTOMERS Disaggregation of revenue Geography The Company attributes net revenue to geographic regions based on customer location. Net revenue by geographic region for the three and nine months ended September 30, 2023 and 2022 were as follows: SCHEDULE OF DISAGGREGATION OF REVENUE
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
United States |  | $ | 8,615,877 |  |  | $ | 14,767,182 |  |  | $ | 28,757,507 |  |  | $ | 55,025,810 |
International |  |  | 365,258 |  |  |  | 846,989 |  |  |  | 3,574,369 |  |  |  | 4,106,474 |
Total revenue from contracts with customers: |  | $ | 8,981,135 |  |  | $ | 15,614,171 |  |  | $ | 32,331,876 |  |  | $ | 59,132,284 |
Platform Net revenue by platform for the three and nine months ended September 30, 2023 and 2022 were as follows:
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Console |  | $ | 3,862,923 |  |  | $ | 3,750,029 |  |  | $ | 13,262,988 |  |  | $ | 27,157,380 |
PC |  |  | 3,717,627 |  |  |  | 9,315,721 |  |  |  | 12,097,176 |  |  |  | 22,943,193 |
Mobile |  |  | 1,400,585 |  |  |  | 2,161,624 |  |  |  | 4,626,820 |  |  |  | 7,346,822 |
Other |  |  | - |  |  |  | 386,797 |  |  |  | 2,344,892 |  |  |  | 1,684,889 |
Total revenue from contracts with customers: |  | $ | 8,981,135 |  |  | $ | 15,614,171 |  |  | $ | 32,331,876 |  |  | $ | 59,132,284 |
Distribution channel Our products are delivered through digital online services (digital download, online platforms, and cloud streaming), mobile, and retail distribution and other. Net revenue by distribution channel for the three and nine months ended September 30, 2023 and 2022 was as follows:
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
|  | Three months ended September 30, |  |  | Nine months ended September 30, |
|  | 2023 |  |  | 2022 |  |  | 2023 |  |  | 2022 |
Digital |  | $ | 7,580,550 |  |  | $ | 13,065,750 |  |  | $ | 25,360,164 |  |  | $ | 50,100,573 |
Mobile |  |  | 1,400,585 |  |  |  | 2,161,624 |  |  |  | 4,626,820 |  |  |  | 7,346,822 |
Physical retail and other |  |  | - |  |  |  | 386,797 |  |  |  | 2,344,892 |  |  |  | 1,684,889 |
Total revenue from contracts with customers: |  | $ | 8,981,135 |  |  | $ | 15,614,171 |  |  | $ | 32,331,876 |  |  | $ | 59,132,284 |
Snail Inc. and Subsidiaries Notes to Condensed Consolidated Financial Statements Deferred Revenue The Company records deferred revenue when payments are due or received in advance of the fulfillment of our associated performance obligations; reductions to deferred revenue balance were primarily due to the recognition of revenue upon fulfillment of our performance obligations, which were in the ordinary course of business. As of September 30, 2023, the balance of deferred revenue was $11,528,759, of which $5.7 million is due to non-refundable payments. The Company is expecting to recognize $2.1 million of the $5.7 million in the next 12 months through the platform releases of certain DLCs and ARK: Survival Ascended, and the remaining $3.6 million in the next 24 months through the release of ARK 2. The Company expects to recognize $5.8 million of current deferred revenues and $5.7 million of long term deferred revenue as revenue over the next 12 to 60 months. The revenue will be recognized primarily on a straight-line basis, based on our estimates of technical support obligations, the usage of consumable virtual goods and upon the activation of durable virtual goods. Activities in the Company’s deferred revenue as of September 30, 2023 and December 31, 2022 were as follows: SCHEDULE OF DEFERRED REVENUE
|  | 2023 |  |  | 2022 |
Deferred revenue, beginning balance in advance of revenue recognition billing |  | $ | 9,551,446 |  |  | $ | 20,280,934 |
Revenue recognized |  |  | (5,223,331 | ) |  |  | (18,832,396 | )
Revenue deferred |  |  | 7,200,644 |  |  |  | 8,102,908 |
Deferred revenue, ending balance |  |  | 11,528,759 |  |  |  | 9,551,446 |
Less: current portion |  |  | (5,848,320 | ) |  |  | (4,335,404 | )
Deferred revenue, long term |  | $ | 5,680,439 |  |  | $ | 5,216,042 |

X
- References No definition available. + Details
Name: | us-gaap_RevenueFromContractWithCustomerAbstract
Namespace Prefix: | us-gaap_
Data Type: | xbrli:stringItemType
Balance Type: | na
Period Type: | duration

X
- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-9 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-10 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-15 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org//1943274/2147479806/606-10-50-13 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org//606/tableOfContent + Details
Name: | us-gaap_RevenueFromContractWithCustomerTextBlock
Namespace Prefix: | us-gaap_
Data Type: | dtr-types:textBlockItemType
Balance Type: | na
Period Type: | duration