Key Highlights

  • Second-quarter Revenue reached $31.1 million, up 270% year-over-year, with more than $1 billion in new contracts signed during the quarter.
  • Management guided toward exiting fiscal 2026 with approximately $400 million in annualized recurring revenue, backed by roughly $1.9 billion in total contracted revenue.
  • The company finalized a long-term Lease agreement with 10X Capital's infrastructure platform on August 13 to expand GPU compute capacity toward 111 megawatts across additional sites in 2027.
  • Boost Run holds roughly $120.2 million in cash and investments, with Operating Cash Flow of $130.6 million over the trailing twelve months.

Boost Run, Inc. (NASDAQ:BRUN), an AI cloud infrastructure company, delivered its first Quarterly Report as a publicly traded entity, showing rapid revenue growth and a substantial expansion of its contracted business.

Boost Run positions itself as a specialized provider of AI cloud infrastructure and high-performance GPU computing services, riding the broader boom in Demand for AI Training and inference capacity.

The company's second-quarter 2026 Earnings report, released August 14, 2026, marked its debut as a public company following a Business combination completed in May 2026.

First Quarter as a Public Company

Boost Run reported quarterly revenue of $31.1 million, up 270% year-over-year, and disclosed more than $1 billion in new contracts signed during the quarter, bringing total contracted revenue to roughly $1.9 billion. Management guided toward exiting fiscal 2026 with approximately $400 million in annualized recurring revenue.

This debut quarter demonstrates significant commercial momentum for the newly public company, with the scale of new contract signings reflecting strong demand for its AI infrastructure services.

The 10X Capital Lease Agreement

A day before its earnings report, on August 13, the company finalized a long-term lease agreement with 10X Capital's infrastructure platform to expand GPU compute capacity, reportedly covering an initial 20 megawatts with plans to scale toward 111 megawatts across additional sites in 2027.

This lease agreement represents a significant capacity expansion for Boost Run, positioning the company to support continued growth in its AI infrastructure business over the coming years.

Financial Position

On a trailing-twelve-month basis, Boost Run generated $56.4 million in revenue, growing 611% year-over-year, with an enviable gross Margin near 89.5%. The Balance Sheet shows $120.2 million in cash and investments against $436.1 million in total debt.

Operating cash flow was a positive $130.6 million and free cash flow reached $92.3 million, aided by customer prepayments and deposits common in infrastructure buildout businesses, reflecting the capital-intensive nature of the company's growth model.

Capital Structure Developments

In late July, Bit Origin completed a Warrant Redemption process, and in early July it collected roughly $45 million in gross proceeds from public warrant exercises tied to its de-SPAC transaction, part of the ongoing capital-structure evolution typical of recently public companies.

Insider ownership stands around 56%, reflecting significant continued commitment from the company's founders and early investors following the public listing.

What Comes Next

Investors should track execution against the 10X Capital lease and the broader capacity buildout toward 111 megawatts in 2027, a key operational milestone. Progress toward the company's stated goal of exiting fiscal 2026 with roughly $400 million in annualized Recurring Revenue will be closely scrutinized at each subsequent earnings update.

The company's path toward positive Net Income and management of its Debt position will matter as interest costs accrue, alongside continued monitoring of contract signings and capacity expansion.

A Strong Start as a Public Company

Boost Run's debut quarter as a public company showed genuine commercial momentum, with rapid revenue growth and a substantial expansion of its contracted business backed by the new 10X Capital lease agreement.

The company's growth trajectory and expanding contracted Backlog position it well within the competitive AI infrastructure market, though continued execution on its capacity buildout and path to profitability will be important considerations going forward.