Snail swings to $2.1M profit on 36% revenue growth; faces dual Nasdaq deficiency notices

Filed May 13, 2026 · Period ending March 31, 2026 · Compared to 10-Q May 14, 2025 · ~2 min read

Key Changes

• high

  Company received two Nasdaq deficiency notices: one for failing to maintain $1.00 minimum bid price (30 consecutive days), another for missing net income, market value, and equity requirements. Compliance deadline June 29, 2026; submitted plan under review.

  Controls & MD&A: Nasdaq Compliance verify on EDGAR →
• high

  Revenue grew 35.7% YoY to $27.3M; company swung from $1.9M net loss in Q1 2025 to $2.1M net income in Q1 2026. EBITDA improved $5.7M to positive $2.4M. ARK franchise installs reached 110.6M (up 14.8% YoY).

  MD&A: Financial Performance verify on EDGAR →
• high

  Remediated material weakness in internal controls over warrant fair-value measurement; disclosure controls now effective as of March 31, 2026 (previously ineffective due to ASC 820 valuation failures).

  Controls: Material Weakness verify on EDGAR →