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XLAB on Nasdaq

Exascale Labs Holdings Inc.

Exascale Labs Holdings Inc. is an American prepackaged software services company based in Houston.1 Its shares trade on Nasdaq under the symbol XLAB.1

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Last updated Oct 21, 2026.

Overview

$14.8MRevenue, fiscal 20262
-$12.2MNet income, fiscal 20262

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  • TickerXLAB on Nasdaq1
  • IndustryServices-Prepackaged Software1
  • HeadquartersHouston, Texas1
  • Incorporated inDE3
  • Business address820 Gessner Road, Suite 332, Houston, Tx 770243
  • Filer category, Emerging growth company3

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Exascale Labs Holdings Inc. was incorporated under the name “D. Boral ARC Merger Corporation” as a Delaware corporation on December 19, 2025. Legacy Exascale was incorporated as a Delaware corporation on June 1, 2022. Through the Business Combination, Exascale Labs Holdings Inc. became the combined company of the Business Combination and succeeded to the business of Legacy Exascale.5 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2026

16.3%Gross margin2
-32.4%Operating margin2
-82.1%Net margin2
111.3%Revenue growth, 20262

What sells

Revenue by product, business segment and region, as the company reports it to the SEC.

Products and services

Revenue from intelligent computing power service brought in 99% of the revenue Exascale Labs Holdings Inc. broke down this way in fiscal 2026.

  1. Revenue from intelligent computing power service$14.7M299%up 124% from 2025
  2. Revenue from comprehensive data center services$157.9K21%down 66% from 2025
Products and services by year
Products and services20252026
Revenue from intelligent computing power service$6.5M$14.7M
Revenue from comprehensive data center services$469.3K$157.9K

Regions

Hong Kong brought in 31% of the revenue Exascale Labs Holdings Inc. broke down this way in fiscal 2026.

  1. Hong Kong$4.5M231%up 657% from 2025
  2. United States$3.9M226%up 88% from 2025
  3. Canada$3.7M225%up 155% from 2025
  4. Singapore$2.0M214%down 19% from 2025
  5. United Kingdom$666.1K24%up 70% from 2025
Regions by year
Regions20252026
Hong Kong$600.0K$4.5M
United States$2.1M$3.9M
Canada$1.4M$3.7M
Singapore$2.5M$2.0M
United Kingdom$391.7K$666.1K

Where the money goes

Where each dollar of revenue went, fiscal 2026

  • Cost of revenue69¢$12.4M
  • Research and development31¢$5.5M

Out of $14.8M in revenue.2 The company lost money this year.

Financial statements

Revenue2$14.8M in 2026+111% since 2025
0$5.0M$10.0M$15.0M2025: $7.0M$7.0M20252026: $14.8M$14.8M2026+111%
Gross profit2$2.4M in 2026+119% since 2025
0$1.0M$2.0M$3.0M2025: $1.1M$1.1M20252026: $2.4M$2.4M2026+119%
Operating income2-$4.8M in 2026+58% since 2025
-$6.0M-$4.0M-$2.0M02025: -$3.0M-$3.0M20252026: -$4.8M-$4.8M2026+58%
Net income2-$12.2M in 2026+59% since 2025
-$15.0M-$10.0M-$5.0M02025: -$7.7M-$7.7M20252026: -$12.2M-$12.2M2026+59%

Every line of the income statement as filed: the last 2 fiscal years, latest first.2

Period ending2026-06-302025-06-30
Revenues$14.8M$7.0M
Cost of revenues-$12.4M-$5.9M
Gross profit$2.4M$1.1M
Selling and marketing expenses-$499.4K-$989.2K
General and administrative expenses-$1.2M-$363.0K
Research and development expenses-$5.5M-$2.8M
Total operating expenses-$7.2M-$4.2M
Loss from operations-$4.8M-$3.0M
Change in fair value of simple agreements for future equity-$7.4M-$4.6M
Other income$15.8K
Loss before income tax expenses-$12.2M-$7.7M
Net loss and total comprehensive loss-$12.2M-$7.7M
Basic Loss per share-$8,108.26-$5,106.44
Diluted Loss per share-$8,108.26-$5,106.44
Weighted average number of shares used to compute loss per share Basic1.5K shares1.5K shares
Weighted average number of shares used to compute loss per share Diluted1.5K shares1.5K shares

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Corporate structure

Exascale Labs Holdings Inc. sits at the top of its group. 3 entities, 2 countries on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of Exascale Labs Holdings Inc.

  • Exascale Labs Holdings Inc. Houston, Texas
    • Evana Alpha Pte. Ltd. Subsidiary · Singapore
    • Exascale Labs Inc. Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What Exascale Labs Holdings Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Property and equipment, before depreciation$29.2K2 Jun 30, 2026$29.9K2 Jun 30, 2025−2.5%
Property and equipment, net$12.8K2 Jun 30, 2026$19.6K2 Jun 30, 2025−34.5%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$2.7M2 Jun 30, 2026$4.2M2 Jun 30, 2025−36.3%

Properties, in its own words

We do not have any principal physical properties.

Item 2 of the 10-K filed Sep 28, 2026.5

Leadership

Who has led Exascale Labs Holdings Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Hoan Soo Lee2026–now
Board members and other officers (5)

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

  • Evana Alpha Pte. Ltd. Singapore4
  • Exascale Labs Inc. Delaware4

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • D. Boral ARC Merger CorpJun 26, 2026 to Jul 7, 20263

Timeline

  1. Oct 15, 20268-K Entered a material agreement11
  2. Sep 30, 20268-K Executive or director change12
  3. Sep 28, 20268-K Completed an acquisition or sale13
  4. Sep 28, 20268-K Results of operations14
  5. Sep 8, 2026New chief executive Hoan Soo Lee becomes CEO6
  6. Sep 8, 20268-K Executive or director change15
  7. Sep 2, 20268-K Entered a material agreement; Ended a material agreement; Completed an acquisition or sale16

Calendar

When it reported results

  1. Sep 28, 2026Reported quarterly or annual results14

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

27 filings to the SEC since October 2021: 1 annual reports, 6 major events, 11 insider forms, 1 large holders, 8 other. The latest 20:

  1. Oct 15, 20268-K EDGAR
  2. Oct 15, 20263 EDGAR
  3. Oct 15, 2026SCHEDULE 13G EDGAR
  4. Oct 6, 20264 EDGAR
  5. Oct 6, 20264 EDGAR
  6. Oct 6, 20264 EDGAR
  7. Oct 6, 20264 EDGAR
  8. Oct 5, 20263 EDGAR
  9. Sep 30, 20268-K EDGAR
  10. Sep 28, 20268-K EDGAR
  11. Sep 28, 20268-K/A EDGAR
  12. Sep 28, 202610-K EDGAR
  13. Sep 8, 20263 EDGAR
  14. Sep 8, 20263 EDGAR
  15. Sep 8, 20263 EDGAR
  16. Sep 8, 20263 EDGAR
  17. Sep 8, 20263 EDGAR
  18. Sep 8, 20268-K EDGAR
  19. Sep 2, 20268-K EDGAR
  20. Aug 27, 20268-A12B EDGAR

The 27 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

SEC filer profile

How Exascale Labs Holdings Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARExascale Labs Holdings Inc.1
  • CIK0002109869
  • Employer ID (EIN)42-30352155
  • Filer statusNon-accelerated filer an emerging growth company; a smaller reporting company; not a shell company5
  • Incorporated inDelaware5
  • Fiscal year endsJune 301
  • Industry code (SIC)7372 Services-Prepackaged Software1
  • SEC reviewing officeOffice of Technology, Division of Corporation Finance1
  • Business address820 Gessner Road, Suite 332, Houston, TX 770241
  • Phone(650) 537-75531
  • Shares outstanding33,689,050 Class A Common Stock shares; 30,645,739 Class B Common Stock shares as of Sep 25, 20265
  • Public float$87.6M as of Sep 2, 20265
  • AuditorHTL International, LLC, Houston, Texas PCAOB ID 7000; no auditor attestation of internal control over financial reporting5
  • On EDGAR sinceJun 26, 20261
  • Filings27 in all: 3 (7), 8-K (5), 4 (4), S-4 (2), 10-K (1), 424B3 (1), 8-A12B (1), 8-K/A (1)1
    All 13 form types

    CERT (1), EFFECT (1), RW (1), S-4/A (1), SCHEDULE 13G (1)

  • Latest filingsAnnual report (10-K) Sep 28, 2026
    Latest 8-K (8-K) Oct 15, 2026

Securities registered for trading

ClassSymbolExchange
Class A Common Stock, $0.0001 par value per shareXLABNasdaq
Warrants, each whole warrant exercisable for one Class A Common Stock at an exercise price of $11.50XLABWNasdaq

From the cover page of the 10-K filed Sep 28, 2026 (Section 12(b) of the Exchange Act).5

Risk factors and legal proceedings

The risks Exascale Labs Holdings Inc. names in Item 1A of its 10-K filed Sep 28, 2026: 46 risks under these headings, as written.5

  • We have a limited operating history, have incurred net losses since inception, and may not achieve or sustain growth or profitability.
  • We depend on a limited and constrained supply of advanced GPU chips, and any disruption or increase in cost could adversely affect our business and results of operations.
  • Demand for AI compute services and accelerated infrastructure may not grow as expected, and customer spending may be volatile.
  • We operate in a highly competitive market, and we may be unable to compete effectively against larger and better-capitalized competitors.
  • We depend on third-party GPU capacity suppliers, and disruptions, non-renewals, pricing increases or capacity limitations could adversely affect our business, results of operations and margins.
  • GPU capacity used to deliver our services is deployed in third-party data centers and partner facilities, and constraints or disruptions in those facilities could materially adversely affect our business.
  • If we fail to deliver expected performance, efficiency, or reliability for customer workloads, our reputation, customer relationships, and results of operations could be harmed.
  • Our performance optimization and utilization practices may not achieve intended results, and our methods may not scale as customer requirements and infrastructure complexity increase.
  • We may experience service interruptions, security incidents, or other operational failures, which could expose us to liability and harm our business.
  • Our AI-assisted operational tools and automation may not perform as intended and could introduce errors or risks.
  • Our costs may increase, and we may be unable to pass increased costs through to customers, which could adversely affect our margins and results of operations.
  • Our revenues may be concentrated in a limited number of customers or engagements, and our results may be volatile due to usage variability and contract dynamics.
The other 34 risks
  • We operate in a highly competitive market, and our failure to acquire, retain, or expand our customer base could adversely affect our revenue and growth.
  • Our AIDC GPU cluster management services may expose us to additional operational, contractual, and liability risks.
  • Our infrastructure solution capabilities, including modular data centers, liquid cooling, HVDC power, data center interconnectivity and energy storage solutions have not yet generated revenue and may not achieve commercial success.
  • Rapid technological change in GPUs, networking, and AI software could require us to adapt quickly, and we may be unable to keep pace.
  • Third parties may claim that our platform infringes, misappropriates, or otherwise violates their intellectual property rights, and such claims could be time-consuming or costly to defend or settle, result in the loss of significant rights, or harm our relationships with our customers or our reputation in the industry.
  • Some of our technology incorporates “open-source” software, and failure to comply with the terms of the underlying open-source software licenses could adversely affect our business, results of operations, financial condition, and future prospects.
  • We may be unable to protect our intellectual property, and third-party claims of infringement could be costly and disruptive.
  • We are subject to laws and regulations, including governmental export and import controls, sanctions, and anti-corruption laws, that could impair our ability to compete in our markets and subject us to liability if we are not in full compliance with applicable laws.
  • We are subject to laws, regulations, and industry requirements related to data privacy, data protection and information security, and user protection across different markets where we conduct our business and such laws, regulations, and industry requirements are constantly evolving and changing. Any actual or perceived failure to comply with such laws, regulations, and industry requirements, or our privacy policies, could harm our business.
  • Export controls, trade restrictions, and sanctions could limit our ability to procure GPU hardware or serve certain customers and could increase compliance costs.
  • We have identified material weaknesses in our internal control over financial reporting, and following the completion of the Business Combination, we became subject to increased regulatory scrutiny and reporting obligations. If we are unable to remediate these material weaknesses or maintain effective internal controls, our ability to accurately report our financial results and the market price of our securities could be adversely affected.
  • We may be unable to utilize our net operating loss carryforwards to offset future taxable income, which could increase our future tax liabilities.
  • If we are unable to attract or retain qualified personnel or key personnel, our ability to execute our strategy and maintain service quality could be adversely affected.
  • Our prior evaluation of blockchain or digital asset-related concepts could create reputational or regulatory scrutiny, and any future evaluation of such initiatives may be subject to heightened regulation.
  • We may become involved in litigation, from time to time, that may adversely affect us.
  • Global events and other general economic factors may impact our results of operations.
  • We have a dual-class share structure with different voting rights, which may adversely affect the value and liquidity of our securities.
  • Our dual-class share structure with different voting rights will limit your ability to influence corporate matters and could discourage others from pursuing any change of control transactions that our stockholders may view as beneficial.
  • The holders of shares of our Class B Common Stock own a significant voting percentage of our Common Stock and will be able to exert significant control over matters subject to stockholder approval.
  • We are a “controlled company” within the meaning of Nasdaq listing rules, and as a result, we are entitled to rely on exemptions from certain corporate governance requirements that could adversely affect the rights of holders of our Class A Common Stock.
  • The price of our securities may be volatile, and you could lose all or part of your investment.
  • A liquid trading market for our securities may not be sustained.
  • We may be unable to maintain the listing of our securities on Nasdaq in the future.
  • The requirements of being a public company may strain our resources and distract management and we will continue to incur substantial costs as a result of being a public company.
  • A decline in the price of our Class A Common Stock could affect our ability to raise working capital and adversely impact our ability to continue operations.
  • Changes in international trade policies, tariffs and treaties affecting imports and exports may have a material adverse effect on our business.
  • Inflationary pressures and persistently high prices and uncertain availability of inputs used by us and our suppliers, or instability in logistics and related costs, could negatively impact our profitability. Pending tariffs proposed by the Trump Administration, may also negatively impact the cost structure of our supply chain, and we may not be able to pass these price increases on to our customers.
  • Changes to United States tariff and import/export regulations may have a material adverse effect on our business, financial condition and results of operations.
  • The resale by certain holders of our Class A Common Stock, or the perception that such sales may occur, could cause the market price of the Class A Common Stock to decline.
  • Future sales and issuances of our securities could result in additional dilution of the percentage ownership of existing stockholders and could cause our stock price to fall.
  • Our existing warrants may have an adverse effect on the market price of our Class A Common Stock.
  • We do not intend to pay any cash dividends in the foreseeable future and, therefore, any return on your investment in our securities must come from increases in the fair market value and trading price of such securities.
  • We are a “smaller reporting company” and an “emerging growth company” under the U.S. federal securities laws, and the reduced reporting requirements applicable to smaller reporting companies and emerging growth companies could make our securities less attractive to investors.
  • Our management team has limited experience managing a U.S. public company, and the additional demands associated with operating as a public company may adversely affect our business, financial condition and results of operations.

Legal proceedings

From time to time, we may be subject to legal proceedings. We are not currently a party to or aware of any proceedings that we believe will have, individually or in the aggregate, a material adverse effect on our business, financial condition or results of operations. Regardless of outcome, litigation can have an adverse impact on us because of defense and settlement costs, diversion of management resources and other factors.

The opening of Item 3, Legal Proceedings.5

Sources

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