Boost Run Inc. — Third Quarter 2026 Earnings Summary

Financial Performance:

• Total revenue for the three months ended September 30, 2026, was $39.9 million, representing a 496% year-over-year increase compared to $6.7 million in the prior year period.
• Operating cash flow for the three months ended September 30, 2026, was $65.6 million.
• Total long-term contracted revenue (TCV) stands at $2.7 billion, an increase of $800 million versus the prior quarter.
• The company secured approximately $600 million in non-dilutive project-based financing year-to-date, with an additional $482 million in customer prepayments due upon project deployment.
• Unrestricted cash at quarter-end was $157 million.
• All $2.7 billion in TCV is either live, in current deployment, or fully contracted and scheduled for deployment in 2027.

Guidance and Future Outlook:

• Management expects 26% of the $2.7 billion TCV to be live by the end of the current month.
• The company anticipates having all existing contracts connected to the $2.7 billion TCV deployed in 2027.
• Each project is expected to add positive incremental cash flow starting in the first month of full deployment.
• Management projects sustainable net cash flow margins of 15-20% in forward periods.

Business Segments and Product Lines:

• Boost Run operates as an NVIDIA Preferred Cloud Partner and has achieved NVIDIA Exemplar Cloud status on the NVIDIA Blackwell architecture.
• The platform provides GPU compute, CPU nodes, managed Kubernetes orchestration, and shared storage.
• The company maintains SOC 2 Type II, HIPAA, ISO 27001, and ISO 27001 certifications at the operator level.
• The customer base consists of well-capitalized, compute-intensive participants in the AI ecosystem engaged under long-term contracts.

Market and Competitive Landscape:

• The company is expanding its position in the rapidly evolving AI infrastructure market.
• Boost Run partners with data center facilities that uphold security and compliance standards equivalent to the operator's certifications.

Risks and Challenges:

• Forward-looking statements identify risks including the ability to execute on contracted revenue, changes in customer demand, or contract cancellations.
• Potential challenges include supply chain disruptions, specifically GPU availability.
• Risks also encompass reliance on relationships with NVIDIA and other key partners, general economic and market conditions (interest rates, inflation), and regulatory changes affecting the data center or AI industries.
• Competition in the cloud infrastructure market and execution risks related to facility expansion and deployment are noted.

Management Commentary and Tone:

• Andrew Karos, Founder & CEO, described the quarter as a period of strong commercial momentum and noted the company has no dilutive debt or warrant overhang.
• Karos highlighted that financing is project-specific, paid down monthly from contracted customer cash flows, and 100% structured to pay down inside the contract term.
• Erik Guckel, CFO, emphasized disciplined capital deployment, financial flexibility, and the conversion of the contracted revenue portfolio into recurring revenue and cash flow.

Other Key Points:

• The company completed the redemption of all outstanding public and private warrants in August 2026.
• A conference call and webcast regarding the results were scheduled for November 12, 2026, at 9:00 a.m. Eastern Time.