{"success":true,"data":{"pressRelease":{"id":"154589","rtpr_id":"nGNXmmbJN-20260928","ticker":"XLAB","exchange":"NASDAQ","all_tickers":["XLAB"],"title":"Exascale Labs Holdings Inc. Reports 111% Revenue Growth for Full Fiscal Year 2026 and Provides Business Update Following Successful Nasdaq Listing","author":"Globe Newswire","published_at":"2026-09-28T20:30:00.230Z","article_body":"* Fiscal year 2026 revenue increased 111% to $14.8 million, compared to $7.0\nmillion in fiscal year 2025, driven by accelerating demand for the Company’s\nsoftware-defined GPU-as-a-Service platform.\n* Successfully completed business combination with D. Boral ARC Acquisition I\nCorp.; commenced trading on Nasdaq under ticker symbols “XLAB” and\n“XLABW” for its Class A common stock and its warrants, respectively, on\nAugust 28, 2026.\n* Expanded strategic partnerships, including an LOI with Compal Electronics\nfor next-generation 800 VDC GPU validation platforms and an MOU with\nEnergyBank for floating offshore wind-powered AI compute.\nHOUSTON, Sept. 28, 2026 (GLOBE NEWSWIRE) -- Exascale Labs Holdings Inc.\n(Nasdaq: XLAB) (“Exascale” or the “Company”), a provider of\nnext-generation AI compute infrastructure, today announced its financial and\noperational results for the fiscal year ended June 30, 2026.\n\n“Fiscal year 2026 was the year we laid the foundation to become a public\ncompany,” said Hoansoo Lee, Chief Executive Officer of Exascale. “To\nestablish our readiness for this next phase, we grew our GPU-as-a-Service\nbusiness, deepened our infrastructure partnership with Compal, and closed the\nagreement that brought Exascale to Nasdaq. Since listing in August, we’ve\nmoved quickly, signing a memorandum of understanding with EnergyBank for\noffshore wind-powered compute, and signing a letter of intent with Compal on\nour 800 VDC platform. Our qualified customer pipeline has grown to\napproximately $300 million; and these early-stage agreements are just the\nbeginning. Our focus is on transitioning these agreements into signed\ncontracts and executing on our strong pipeline opportunities.”\n\nMr. Lee continued, “Exascale's revenue grew 111% this past fiscal year,\npowered by a 124% increase in our intelligent computing power service and a\ncustomer renewal rate around 68%, and the balance sheet is now stronger\nfollowing the close of the business combination. Our focus now is on\nconverting that growth into disciplined, scalable execution as a public\ncompany.”\n\nRecent Strategic & Operational Highlights\n* Successful Nasdaq Public Listing: Exascale completed its business\ncombination with D. Boral ARC Acquisition I Corp. Exascale’s Class A common\nstock and warrants began trading on the Nasdaq Global Market under the ticker\nsymbols \"XLAB\" and “XLABW,” respectively, on August 28, 2026.\n* Compal Electronics LOI: Entered into a non-binding Letter of Intent\n(“LOI”) with Compal Electronics to jointly develop a U.S.-based native 800\nVDC validation platform for next-generation GPU systems. The goal of joint\neffort is to validate high-efficiency power architectures designed for\nultra-high-density AI data centers.\n* Appointment of New Chief Financial Officer: Exascale appointed Jake Carney\nas Chief Financial Officer, effective September 25, 2026.\n* EnergyBank Sustainable Compute MOU: Signed a Memorandum of Understanding\n(“MOU”) with EnergyBank to integrate floating offshore wind power and\nlong-duration energy storage into Exascale’s modular AI compute\ninfrastructure.\n* Platform Orchestration Enhancements: Deployed proprietary GPU cluster\nmanagement software enabling dynamic resource allocation, automated failover,\nand optimized latency for high-concurrency LLM inference workloads.\n\"Our 800 VDC validation work with Compal and the orchestration layer we\nshipped this year are the same bet, power density is a real bottleneck for AI\ninfrastructure, not just GPU supply,\" said Zach Bright, Head of R&D at\nExascale. \"Both are built to hold up as workloads get denser, and that's what\nwe're most focused on getting right.\"\n\nFiscal Year 2026 Financial Highlights (“FY 2026”)\n* Total Revenue: FY 2026 revenue was $14.8 million, representing an increase\nof 111.3% compared to $7.0 million reported in Fiscal Year 2025 (“FY\n2025”). The growth was primarily attributed a 124.0% increase in revenue\nfrom Exascale's intelligent computing power service, driven by higher spending\nfrom existing customers and an expanding customer base, with a roughly 68%\ncustomer renewal rate.\n* Gross Profit: Gross profit for FY 2026 was $2.4 million, and 16.3% gross\nmargin, compared to $1.1 million gross profit and 15.8% gross in FY 2025. This\nincrease in growth profit and gross margin reflects scalable operational\nefficiency amid rapid revenue growth.\n* Operating Expenses: Operating expenses were $7.2 million in FY 2026,\ncompared to $4.2 million in FY 2025. The increase was driven primarily by a\n$2.7 million increase in research and development expenses and a $0.9 million\nincrease in general and administrative expenses, partially offset by a\ndecrease in selling and marketing expenses of $0.5 million.\n* Net Loss: Net loss for FY 2026 was $12.2 million, compared to $7.7 million\nin FY 2025. The increase was driven primarily by higher operating expenses\nassociated with scaling infrastructure, expanding market presence, and\nadvancing our technology platform, as well as a non-cash fair value adjustment\non our simple agreements for future equity (“SAFE’s”). As of June 30,\n2026, those SAFEs carried an aggregate fair value of approximately $29.1\nmillion; all outstanding SAFEs converted into the Company’s Class A common\nstock upon the closing of the business combination on August 27, 2026,\neliminating the liability from the Company's balance sheet.\n* Cash and Capital Resources: As of June 30, 2026, Exascale held $2.7 million\nin cash, supplemented post-period by the successful closing of its business\ncombination on August 27, 2026. In connection with the closing, Exascale\nobtained access to net cash proceeds of approximately $11.8 million from the\nbusiness combination.\nFiscal Year 2027 Outlook \nFor the fiscal year ending June 30, 2027, Exascale intends to focus on the\nfollowing core growth pillars:\n* Capacity Expansion: Accelerate GPU-as-a-Service capacity expansion by\nonboarding additional top-tier data center host sites and GPU clusters across\nNorth America, Asia, and Europe.\n* Next-Gen Power & Cooling Architecture: Commercialize proprietary native 800\nVDC and modular high-density cooling solutions to address power density\nbottlenecks facing enterprise AI workloads.\n* Enterprise SaaS Platform Monetization: Drive adoption of Exascale’s\nproprietary GPU orchestration and cluster management software among AI\noperators.\nAbout Exascale\n\nExascale is a next-generation AI infrastructure provider operating a\nsoftware-defined GPU compute platform and related AI infrastructure solutions.\nIts business includes, GPU-as-a-service, GPU cluster management and\noptimization, and infrastructure solutions spanning modular data centers, HVDC\npower, high-density cooling, and data center interconnectivity. Exascale's\nplatform supports large-scale AI workloads, including training, fine-tuning,\nhigh-concurrency inference, and API-based token generation. For more\ninformation, visit www.exascalelabs.ai.\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe \"safe harbor\" provisions of the Private Securities Litigation Reform Act\nof 1995. Forward-looking statements can be identified by words such as\n\"anticipate,\" \"believe,\" \"can,\" \"continue,\" \"could,\" \"expect,\" \"intend,\"\n\"may,\" \"plan,\" \"project,\" \"seek,\" \"should,\" \"will,\" and similar expressions.\nThese statements include, without limitation, statements regarding Exascale's\nfuture financial and operating performance, its business strategy and growth\nplans, anticipated demand for AI infrastructure and compute capacity, planned\ndeployment of modular data center, liquid cooling, HVDC power, data center\ninterconnectivity and energy storage solutions, expectations regarding\nadditional financing, and Exascale's competitive and market positioning, and\nstatements regarding the MOU and the LOI and the plans of the parties thereto\nregarding such LOI and MOU. The MOU and LOI are non-binding and do not create\nany obligations for the parties thereto to into any definitive agreements.\n\nThese statements are based on current expectations and assumptions, and\ninvolve risks and uncertainties that could cause actual results or events to\ndiffer materially, including, among others, changes in customer demand, supply\nconstraints for GPUs and related infrastructure components, Exascale's ability\nto convert its pipeline opportunities into customer relationships and revenue,\ncompetitive pressures from larger and better-capitalized providers,\ntechnological risks, operational and execution risks associated with scaling\ninfrastructure deployments, Exascale's ability to access financing on\nfavorable terms, regulatory changes, and macroeconomic factors.\n\nIf any of these risks materialize or the assumptions prove incorrect, actual\nresults could differ materially from the results contained in or implied by\nthese forward-looking statements. There may be additional risks that Exascale\npresently does not know of or cannot anticipate, or that Exascale currently\nbelieves are immaterial, that could also cause actual results to differ\nmaterially from those contained in or implied by the forward-looking\nstatements.\n\nForward-looking statements reflect Exascale's expectations, plans or forecasts\nof future events and views as of the date of this press release. Exascale\nanticipates that subsequent events and developments will cause its assessments\nto change. However, while Exascale may elect to update these forward-looking\nstatements at some point in the future, Exascale specifically disclaims any\nobligation to do so.\n\nReaders are cautioned not to place undue reliance upon any forward-looking\nstatement.\n\nInvestor Contact\nCameron Radinovic\nKCSA Strategic Communications\nExascale@KCSA.com\n\nMedia Contact\nHannah Erger\nKCSA Strategic Communications\nExascale@KCSA.com\n\n \n EXASCALE LABS INC. Consolidated Statements of Operations (All amounts in US$, except for number of shares and per share data) (unaudited) \n \n For the years ended June 30, \n 2025 2026 \n Revenues $ 7,015,512 $ 14,822,799 \n Cost of revenues (5,910,315 ) (12,404,546 ) \n Gross profit 1,105,197 2,418,253 \n \n Operating expenses \n Selling and marketing expenses (989,155 ) (499,392 ) \n General and administrative expenses (362,982 ) (1,229,516 ) \n Research and development expenses (2,797,906 ) (5,490,185 ) \n Total operating expenses (4,150,043 ) (7,219,093 ) \n Loss from operations (3,044,846 ) (4,800,840 ) \n Change in fair value of simple agreements for future equity (4,614,821 ) (7,377,383 ) \n Other income - 15,832 \n Loss before income tax expenses (7,659,667 ) (12,162,391 ) \n Income tax expenses - - \n Net loss and total comprehensive loss $ (7,659,667 ) $ (12,162,391 ) \n \n Loss per share \n Basic and diluted $ (5,106.44 ) $ (8,108.26 ) \n \n Weighted average number of shares used to compute loss per share \n Basic and diluted 1,500 1,500 \n \n\n[Balance sheet reflects Exascale as a standalone private company as of June\n30, 2026; it will not include the effects of the August 27, 2026 business\ncombination, which is a subsequent event]\n\n \n EXASCALE LABS INC. Consolidated Balance Sheets (All amounts in US$, except for number of shares) \n \n As of June 30, \n 2025 2026 \n ASSETS \n Current Assets \n Cash and cash equivalents $ 4,231,689 $ 2,693,586 \n U.S. Dollar Coin - 2,160,746 \n Accounts receivable, net 152,536 1,107,210 \n Advance to suppliers 1,030,761 112,343 \n Refundable deposits receivable 681,125 450,000 \n Other receivables 1,207,626 - \n Total Current Assets 7,303,737 6,523,885 \n \n Non-Current Assets \n Deferred offering costs - 190,000 \n Equipment, net 19,600 12,840 \n Total Non-Current Assets 19,600 202,840 \n Total Assets $ 7,323,337 $ 6,726,725 \n \n LIABILITIES AND SHAREHOLDERS’ DEFICIT \n Current Liabilities \n Accounts payable $ 90,015 $ 916,422 \n Simple agreements for future equity 18,243,885 29,121,268 \n Contract liabilities 432,760 1,070,378 \n Refundable deposits payable 1,445,580 359,481 \n Other current liabilities 107,481 417,951 \n Total Current Liabilities 20,319,721 31,885,500 \n Total Liabilities $ 20,319,721 $ 31,885,500 \n \n Commitments and contingencies \n \n Shareholders’ Deficit \n Common stock (US$0.01 par value per share; 1,500 shares authorized; 1,500 shares issued and outstanding as of June 30, 2025) $ 15 $ - \n Class A common stock (US$0.01 par value per share; 303 shares authorized; 303 shares issued and outstanding as of June 30, 2026) - 3 \n Class B common stock (US$0.01 par value per share; 1,197 shares authorized; 1,197 shares issued and outstanding as of June 30, 2026) - 12 \n Additional paid-in capital 220,636 220,636 \n Accumulated deficit (13,217,035 ) (25,379,426 ) \n Total Shareholders’ Deficit $ (12,996,384 ) $ (25,158,775 ) \n Total Liabilities and Shareholders’ Deficit $ 7,323,337 $ 6,726,725 \n \n\n\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/67242d8b-6603-429c-ab27-e5cd8a89de1c)\n\n\n\nGlobeNewswire, Inc. 2026","article_body_html":"","raw_payload":{"data":{"id":"nGNXmmbJN-20260928","title":"Exascale Labs Holdings Inc. Reports 111% Revenue Growth for Full Fiscal Year 2026 and Provides Business Update Following Successful Nasdaq Listing","author":"Globe Newswire","ticker":"XLAB","created":"2026-09-28T20:30:00.230Z","tickers":["XLAB"],"exchange":"NASDAQ","article_body":"* Fiscal year 2026 revenue increased 111% to $14.8 million, compared to $7.0\nmillion in fiscal year 2025, driven by accelerating demand for the Company’s\nsoftware-defined GPU-as-a-Service platform.\n* Successfully completed business combination with D. Boral ARC Acquisition I\nCorp.; commenced trading on Nasdaq under ticker symbols “XLAB” and\n“XLABW” for its Class A common stock and its warrants, respectively, on\nAugust 28, 2026.\n* Expanded strategic partnerships, including an LOI with Compal Electronics\nfor next-generation 800 VDC GPU validation platforms and an MOU with\nEnergyBank for floating offshore wind-powered AI compute.\nHOUSTON, Sept. 28, 2026 (GLOBE NEWSWIRE) -- Exascale Labs Holdings Inc.\n(Nasdaq: XLAB) (“Exascale” or the “Company”), a provider of\nnext-generation AI compute infrastructure, today announced its financial and\noperational results for the fiscal year ended June 30, 2026.\n\n“Fiscal year 2026 was the year we laid the foundation to become a public\ncompany,” said Hoansoo Lee, Chief Executive Officer of Exascale. “To\nestablish our readiness for this next phase, we grew our GPU-as-a-Service\nbusiness, deepened our infrastructure partnership with Compal, and closed the\nagreement that brought Exascale to Nasdaq. Since listing in August, we’ve\nmoved quickly, signing a memorandum of understanding with EnergyBank for\noffshore wind-powered compute, and signing a letter of intent with Compal on\nour 800 VDC platform. Our qualified customer pipeline has grown to\napproximately $300 million; and these early-stage agreements are just the\nbeginning. Our focus is on transitioning these agreements into signed\ncontracts and executing on our strong pipeline opportunities.”\n\nMr. Lee continued, “Exascale's revenue grew 111% this past fiscal year,\npowered by a 124% increase in our intelligent computing power service and a\ncustomer renewal rate around 68%, and the balance sheet is now stronger\nfollowing the close of the business combination. Our focus now is on\nconverting that growth into disciplined, scalable execution as a public\ncompany.”\n\nRecent Strategic & Operational Highlights\n* Successful Nasdaq Public Listing: Exascale completed its business\ncombination with D. Boral ARC Acquisition I Corp. Exascale’s Class A common\nstock and warrants began trading on the Nasdaq Global Market under the ticker\nsymbols \"XLAB\" and “XLABW,” respectively, on August 28, 2026.\n* Compal Electronics LOI: Entered into a non-binding Letter of Intent\n(“LOI”) with Compal Electronics to jointly develop a U.S.-based native 800\nVDC validation platform for next-generation GPU systems. The goal of joint\neffort is to validate high-efficiency power architectures designed for\nultra-high-density AI data centers.\n* Appointment of New Chief Financial Officer: Exascale appointed Jake Carney\nas Chief Financial Officer, effective September 25, 2026.\n* EnergyBank Sustainable Compute MOU: Signed a Memorandum of Understanding\n(“MOU”) with EnergyBank to integrate floating offshore wind power and\nlong-duration energy storage into Exascale’s modular AI compute\ninfrastructure.\n* Platform Orchestration Enhancements: Deployed proprietary GPU cluster\nmanagement software enabling dynamic resource allocation, automated failover,\nand optimized latency for high-concurrency LLM inference workloads.\n\"Our 800 VDC validation work with Compal and the orchestration layer we\nshipped this year are the same bet, power density is a real bottleneck for AI\ninfrastructure, not just GPU supply,\" said Zach Bright, Head of R&D at\nExascale. \"Both are built to hold up as workloads get denser, and that's what\nwe're most focused on getting right.\"\n\nFiscal Year 2026 Financial Highlights (“FY 2026”)\n* Total Revenue: FY 2026 revenue was $14.8 million, representing an increase\nof 111.3% compared to $7.0 million reported in Fiscal Year 2025 (“FY\n2025”). The growth was primarily attributed a 124.0% increase in revenue\nfrom Exascale's intelligent computing power service, driven by higher spending\nfrom existing customers and an expanding customer base, with a roughly 68%\ncustomer renewal rate.\n* Gross Profit: Gross profit for FY 2026 was $2.4 million, and 16.3% gross\nmargin, compared to $1.1 million gross profit and 15.8% gross in FY 2025. This\nincrease in growth profit and gross margin reflects scalable operational\nefficiency amid rapid revenue growth.\n* Operating Expenses: Operating expenses were $7.2 million in FY 2026,\ncompared to $4.2 million in FY 2025. The increase was driven primarily by a\n$2.7 million increase in research and development expenses and a $0.9 million\nincrease in general and administrative expenses, partially offset by a\ndecrease in selling and marketing expenses of $0.5 million.\n* Net Loss: Net loss for FY 2026 was $12.2 million, compared to $7.7 million\nin FY 2025. The increase was driven primarily by higher operating expenses\nassociated with scaling infrastructure, expanding market presence, and\nadvancing our technology platform, as well as a non-cash fair value adjustment\non our simple agreements for future equity (“SAFE’s”). As of June 30,\n2026, those SAFEs carried an aggregate fair value of approximately $29.1\nmillion; all outstanding SAFEs converted into the Company’s Class A common\nstock upon the closing of the business combination on August 27, 2026,\neliminating the liability from the Company's balance sheet.\n* Cash and Capital Resources: As of June 30, 2026, Exascale held $2.7 million\nin cash, supplemented post-period by the successful closing of its business\ncombination on August 27, 2026. In connection with the closing, Exascale\nobtained access to net cash proceeds of approximately $11.8 million from the\nbusiness combination.\nFiscal Year 2027 Outlook \nFor the fiscal year ending June 30, 2027, Exascale intends to focus on the\nfollowing core growth pillars:\n* Capacity Expansion: Accelerate GPU-as-a-Service capacity expansion by\nonboarding additional top-tier data center host sites and GPU clusters across\nNorth America, Asia, and Europe.\n* Next-Gen Power & Cooling Architecture: Commercialize proprietary native 800\nVDC and modular high-density cooling solutions to address power density\nbottlenecks facing enterprise AI workloads.\n* Enterprise SaaS Platform Monetization: Drive adoption of Exascale’s\nproprietary GPU orchestration and cluster management software among AI\noperators.\nAbout Exascale\n\nExascale is a next-generation AI infrastructure provider operating a\nsoftware-defined GPU compute platform and related AI infrastructure solutions.\nIts business includes, GPU-as-a-service, GPU cluster management and\noptimization, and infrastructure solutions spanning modular data centers, HVDC\npower, high-density cooling, and data center interconnectivity. Exascale's\nplatform supports large-scale AI workloads, including training, fine-tuning,\nhigh-concurrency inference, and API-based token generation. For more\ninformation, visit www.exascalelabs.ai.\n\nForward-Looking Statements\n\nThis press release contains forward-looking statements within the meaning of\nthe \"safe harbor\" provisions of the Private Securities Litigation Reform Act\nof 1995. Forward-looking statements can be identified by words such as\n\"anticipate,\" \"believe,\" \"can,\" \"continue,\" \"could,\" \"expect,\" \"intend,\"\n\"may,\" \"plan,\" \"project,\" \"seek,\" \"should,\" \"will,\" and similar expressions.\nThese statements include, without limitation, statements regarding Exascale's\nfuture financial and operating performance, its business strategy and growth\nplans, anticipated demand for AI infrastructure and compute capacity, planned\ndeployment of modular data center, liquid cooling, HVDC power, data center\ninterconnectivity and energy storage solutions, expectations regarding\nadditional financing, and Exascale's competitive and market positioning, and\nstatements regarding the MOU and the LOI and the plans of the parties thereto\nregarding such LOI and MOU. The MOU and LOI are non-binding and do not create\nany obligations for the parties thereto to into any definitive agreements.\n\nThese statements are based on current expectations and assumptions, and\ninvolve risks and uncertainties that could cause actual results or events to\ndiffer materially, including, among others, changes in customer demand, supply\nconstraints for GPUs and related infrastructure components, Exascale's ability\nto convert its pipeline opportunities into customer relationships and revenue,\ncompetitive pressures from larger and better-capitalized providers,\ntechnological risks, operational and execution risks associated with scaling\ninfrastructure deployments, Exascale's ability to access financing on\nfavorable terms, regulatory changes, and macroeconomic factors.\n\nIf any of these risks materialize or the assumptions prove incorrect, actual\nresults could differ materially from the results contained in or implied by\nthese forward-looking statements. There may be additional risks that Exascale\npresently does not know of or cannot anticipate, or that Exascale currently\nbelieves are immaterial, that could also cause actual results to differ\nmaterially from those contained in or implied by the forward-looking\nstatements.\n\nForward-looking statements reflect Exascale's expectations, plans or forecasts\nof future events and views as of the date of this press release. Exascale\nanticipates that subsequent events and developments will cause its assessments\nto change. However, while Exascale may elect to update these forward-looking\nstatements at some point in the future, Exascale specifically disclaims any\nobligation to do so.\n\nReaders are cautioned not to place undue reliance upon any forward-looking\nstatement.\n\nInvestor Contact\nCameron Radinovic\nKCSA Strategic Communications\nExascale@KCSA.com\n\nMedia Contact\nHannah Erger\nKCSA Strategic Communications\nExascale@KCSA.com\n\n \n EXASCALE LABS INC. Consolidated Statements of Operations (All amounts in US$, except for number of shares and per share data) (unaudited) \n \n For the years ended June 30, \n 2025 2026 \n Revenues $ 7,015,512 $ 14,822,799 \n Cost of revenues (5,910,315 ) (12,404,546 ) \n Gross profit 1,105,197 2,418,253 \n \n Operating expenses \n Selling and marketing expenses (989,155 ) (499,392 ) \n General and administrative expenses (362,982 ) (1,229,516 ) \n Research and development expenses (2,797,906 ) (5,490,185 ) \n Total operating expenses (4,150,043 ) (7,219,093 ) \n Loss from operations (3,044,846 ) (4,800,840 ) \n Change in fair value of simple agreements for future equity (4,614,821 ) (7,377,383 ) \n Other income - 15,832 \n Loss before income tax expenses (7,659,667 ) (12,162,391 ) \n Income tax expenses - - \n Net loss and total comprehensive loss $ (7,659,667 ) $ (12,162,391 ) \n \n Loss per share \n Basic and diluted $ (5,106.44 ) $ (8,108.26 ) \n \n Weighted average number of shares used to compute loss per share \n Basic and diluted 1,500 1,500 \n \n\n[Balance sheet reflects Exascale as a standalone private company as of June\n30, 2026; it will not include the effects of the August 27, 2026 business\ncombination, which is a subsequent event]\n\n \n EXASCALE LABS INC. Consolidated Balance Sheets (All amounts in US$, except for number of shares) \n \n As of June 30, \n 2025 2026 \n ASSETS \n Current Assets \n Cash and cash equivalents $ 4,231,689 $ 2,693,586 \n U.S. Dollar Coin - 2,160,746 \n Accounts receivable, net 152,536 1,107,210 \n Advance to suppliers 1,030,761 112,343 \n Refundable deposits receivable 681,125 450,000 \n Other receivables 1,207,626 - \n Total Current Assets 7,303,737 6,523,885 \n \n Non-Current Assets \n Deferred offering costs - 190,000 \n Equipment, net 19,600 12,840 \n Total Non-Current Assets 19,600 202,840 \n Total Assets $ 7,323,337 $ 6,726,725 \n \n LIABILITIES AND SHAREHOLDERS’ DEFICIT \n Current Liabilities \n Accounts payable $ 90,015 $ 916,422 \n Simple agreements for future equity 18,243,885 29,121,268 \n Contract liabilities 432,760 1,070,378 \n Refundable deposits payable 1,445,580 359,481 \n Other current liabilities 107,481 417,951 \n Total Current Liabilities 20,319,721 31,885,500 \n Total Liabilities $ 20,319,721 $ 31,885,500 \n \n Commitments and contingencies \n \n Shareholders’ Deficit \n Common stock (US$0.01 par value per share; 1,500 shares authorized; 1,500 shares issued and outstanding as of June 30, 2025) $ 15 $ - \n Class A common stock (US$0.01 par value per share; 303 shares authorized; 303 shares issued and outstanding as of June 30, 2026) - 3 \n Class B common stock (US$0.01 par value per share; 1,197 shares authorized; 1,197 shares issued and outstanding as of June 30, 2026) - 12 \n Additional paid-in capital 220,636 220,636 \n Accumulated deficit (13,217,035 ) (25,379,426 ) \n Total Shareholders’ Deficit $ (12,996,384 ) $ (25,158,775 ) \n Total Liabilities and Shareholders’ Deficit $ 7,323,337 $ 6,726,725 \n \n\n\n\n(https://www.globenewswire.com/NewsRoom/AttachmentNg/67242d8b-6603-429c-ab27-e5cd8a89de1c)\n\n\n\nGlobeNewswire, Inc. 2026"},"type":"article","timestamp":"2026-09-28T20:30:00.280399362Z","server_sent_at_ms":1790627400280},"received_at":"2026-09-28T20:30:00.499Z","source_url":null},"analysis":{"id":"143355","press_release_id":"154589","analysis_json":{"industry":{"label":"IT Services","sector":"Information Technology"},"redFlags":["Net loss widened to $12.2M on only $14.8M of revenue","Pre-deal cash of just $2.7M; financing relies on the completed SPAC combination","Compal LOI and EnergyBank MOU are non-binding with no obligation to definitive agreements","~$300M pipeline is 'qualified' but unconverted","SAFE fair value adjustments contributed to losses prior to conversion"],"eventType":"earnings","narrative":"Exascale Labs reported FY2026 revenue of $14.8 million, up 111% year-over-year, driven by 124% growth in its intelligent computing power service with a roughly 68% customer renewal rate.\n\nThe company remains unprofitable: net loss widened to $12.2 million from $7.7 million, gross margin edged up only to 16.3%, and pre-deal cash stood at just $2.7 million, supplemented by ~$11.8 million net proceeds from the August 27 business combination with D. Boral ARC Acquisition I Corp.\n\nManagement highlighted a ~$300 million qualified customer pipeline, a non-binding LOI with Compal Electronics for 800 VDC GPU validation, and an MOU with EnergyBank for offshore wind-powered compute. New CFO Jake Carney took office September 25, 2026.","sentiment":"mixed","agentHooks":{"shouldPost":true,"suggestedAngle":"Newly listed AI compute player triples growth off a tiny base but burns heavily -- watch pipeline conversion and post-SPAC cash runway."},"keyFigures":{"revenue":14822799,"guidance":"FY2027 pillars: GPU-as-a-Service capacity expansion across North America, Asia and Europe; commercialize native 800 VDC and modular high-density cooling; enterprise SaaS orchestration monetization","revenueYoy":"111.3%","customDimensions":{"cash":2693586,"net_loss":12162391,"pipeline":"$300 million","gross_margin":"16.3%","gross_profit":2418253,"debeor_proceeds":"$11.8 million net from business combination","safe_fair_value":"$29.1 million","operating_expenses":7219093,"customer_renewal_rate":"68%"}},"quotedText":"Exascale's revenue grew 111% this past fiscal year, powered by a 124% increase in our intelligent computing power service and a customer renewal rate around 68%, and the balance sheet is now stronger following the close of the business combination.","namedEntities":{"people":[{"name":"Hoansoo Lee","role":"CEO"},{"name":"Jake Carney","role":"CFO (effective September 25, 2026)"},{"name":"Zach Bright","role":"Head of R&D"},{"name":"Cameron Radinovic","role":"Investor Contact, KCSA Strategic Communications"},{"name":"Hannah Erger","role":"Media Contact, KCSA Strategic Communications"}],"products":["GPU-as-a-Service platform","800 VDC validation platform","GPU cluster management / orchestration software","modular AI compute infrastructure"],"companies":[{"name":"Exascale Labs Holdings Inc.","ticker":"XLAB","relationship":"filer"},{"name":"D. 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