Recent Updates — XLAB
Exascale Labs Holdings Inc. announced the departure of Interim Chief Financial Officer Gildas Bonnier and the appointment of Jake Carney as the permanent Chief Financial Officer, effective September 25, 2026. Mr. Bonnier's exit was not due to disagreements regarding operations or policies. Mr. Carney brings 15 years of experience in banking, investment advisory, and fintech, having previously served as CFO for ARC Group Securities Acquisition I and Deal Flow Capital. His employment agreement includes a monthly base salary of $6,000 and eligibility for standard employee benefits. Exascale Labs Holdings Inc. operates in the biotechnology industry, focusing on exascale computing solutions for life sciences research.
Exascale Labs Holdings Inc. reported fiscal year 2026 revenue of $14.8 million, a 111% increase from $7.0 million in the prior year, driven by its GPU-as-a-Service platform. The company posted a net loss of $12.2 million compared to $7.7 million previously, with operating expenses rising to $7.2 million due to increased R&D and G&A costs. Gross profit reached $2.4 million on a 16.3% margin. Following the August 2026 business combination with D. Boral ARC Acquisition I Corp., Exascale commenced trading on Nasdaq under ticker XLAB and secured approximately $11.8 million in net cash proceeds. The company appointed Jake Carney as CFO effective September 25, 2026, and announced strategic partnerships including an LOI with Compal Electronics for 800 VDC validation platforms and an MOU with EnergyBank for floating offshore wind-powered AI compute. Exascale Labs Holdings Inc. operates in the artificial intelligence infrastructure industry, providing software-defined GPU compute and related data center solutions.
Exascale Labs Holdings Inc., formerly D. Boral ARC Merger Corporation, completed a business combination with Exascale Labs on August 27, 2026, resulting in the company changing its name and listing Class A Common Stock under the symbol XLAB on Nasdaq. The transaction was accounted for as a reverse recapitalization, with Exascale identified as the accounting acquirer. Upon closing, former securityholders received an aggregate of 19,354,261 PubCo Class A common stock and 30,645,739 PubCo Class B common stock, representing merger consideration valued at $500 million based on a deemed price of $10.00 per share. The company appointed Hoansoo Lee as CEO and Wenying Jia as Chairperson, with Jake Carney later named CFO. Exascale Labs Holdings Inc. operates in the artificial intelligence infrastructure industry, providing GPU-as-a-Service compute capacity and data center solutions.