Exascale Labs Holdings (XLAB) reported fiscal 2026 revenue of $14.8 million as its GPU computing service expanded. Revenue rose 111.3% from fiscal 2025; gross profit reached $2.4 million, while net loss widened to $12.2 million from $7.7 million. Operating expenses rose to $7.2 million from $4.2 million. Cash was $2.7 million at June 30, before approximately $11.8 million in net cash proceeds from its August 27 business combination with D. Boral ARC Acquisition I Corp.
Class A shares and warrants began Nasdaq trading August 28. Outstanding agreements for future equity, valued at approximately $29.1 million on June 30, converted to Class A shares at closing. Exascale deployed GPU cluster management software, entered a non-binding 800 VDC development letter of intent with Compal Electronics and signed an offshore wind-powered compute memorandum with EnergyBank. It reported an approximately $300 million qualified customer pipeline and plans capacity expansion and software monetization in fiscal 2027.
Exascale Labs (XLAB) announced its post-closing Board of Directors composition following its business combination on September 21, 2026. The five-member board includes CEO and co-founder Hoansoo Lee, Nobel Laureate David Card, UC Berkeley economist Shachar Kariv, Samsung Ventures executive Jaeyoung Shin, and founding investor Wenying Jia, who serves as Chair. Card serves as Lead Independent Director.
Card is a Nobel Prize–winning labor economist and emeritus professor at UC Berkeley. Kariv is a UC Berkeley economics professor focused on decision and game theory. Shin heads Asia at Samsung Ventures, with experience in semiconductor and AI-chip investments. Jia brings early-stage digital asset and GPU infrastructure investing experience and helped establish Exascale in 2022.
Exascale Labs (XLAB) signed a non-binding Letter of Intent with Compal Electronics on Sept. 14, 2026 to co-develop a U.S.-based, data-center-grade validation platform for native 800 VDC GPU infrastructure.
The platform will pair Compal’s production GPU servers and liquid cooling with Exascale’s modular data center (MDC), solid-state transformer (SST) power architecture and related software to validate power, compute, cooling and controls as an integrated system. The project aims to test SST operational availability, conduct native 800 VDC compatibility and pre-shipment power-on testing for GPU servers, support ecosystem partner validation, and build experience toward standardized 800 VDC solutions and industry certifications.
Exascale (Nasdaq: XLAB) announced a non-binding memorandum of understanding with EnergyBank to explore grid-independent AI compute infrastructure powered by floating offshore wind and long-duration energy storage. The collaboration initially contemplates a pilot using Zephyros-One, a floating offshore wind turbine operated by Sustainable Energy Norway, targeting up to 800kW of firm compute capacity and deployment of Exascale’s modular data center.
According to Exascale, the partners also aim to define a repeatable reference architecture for potential multi-turbine projects that could target up to 10MW of firm compute capacity per turbine. EnergyBank is expected to seek a mix of private and potential public funding for the pilot. The MOU is non-binding and any pilot or subsequent deployment would require feasibility work, definitive agreements, financing, and regulatory approvals, with no assurance of completion or commercialization.
Exascale Labs Holdings (Nasdaq:XLAB) announced the closing of its previously agreed business combination between Exascale Labs and special purpose acquisition company D. Boral ARC Acquisition I Corp. (Nasdaq:BCAR), following BCAR shareholder approval at an Extraordinary General Meeting held on July 29, 2026.
The combined company has been renamed Exascale Labs Holdings, and its Class A common stock and warrants are expected to begin trading on Nasdaq under the new symbols “XLAB” and “XLABW”, respectively, on August 28, 2026. Each existing BCAR unit will separate into one share of Class A common stock (XLAB) and one-half of one warrant (XLABW), and BCAR units will cease trading as a separate security.
Exascale operates an asset-light platform providing dedicated, scalable GPU compute and AI-ready data center solutions to enterprise AI developers, academic institutions, and AI-native platforms. According to Exascale, it enters the public markets with an approximately $300 million qualified customer pipeline to support commercial deployment and platform expansion.
Exascale Labs, which is in the process of completing a business combination with D. Boral ARC Acquisition I (Nasdaq: BCAR), announced that CEO Hoansoo Lee will attend Needham's Virtual AI Infrastructure 1x1 Conference on August 12, 2026, holding virtual meetings with institutional investors.
BCAR shareholders approved the Exascale–BCAR business combination on July 29, 2026. BCAR and Exascale expect closing shortly, after remaining conditions are satisfied or waived. The combined company is expected to be named Exascale Labs Holdings, with Class A shares and warrants trading on Nasdaq as XLAB and XLABW.