What Boost Run (BRUN) Said on Its Q3 Earnings Call

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Boost Run (NASDAQ:BRUN) reported a sharp rise in third-quarter revenue as new GPU clusters came online, but project delays pushed a major deployment into 2027 and affected the…

Boost Run (NASDAQ:BRUN) reported a sharp rise in third-quarter revenue as new GPU clusters came online, but project delays pushed a major deployment into 2027 and affected the company's year-end recurring revenue outlook.

Revenue rose to $39.9 million from $6.7 million a year earlier and $31.1 million in the second quarter. The company reported a net loss of $14.1 million, or approximately $0.17 per share, compared with a loss of $17.2 million, or $0.58 per share, a year earlier. The latest quarter included a $9.7 million income tax benefit.

Founder and CEO Andrew Karos said Boost Run's total contract value exceeded $2.7 billion and that the company expected approximately 26% of that amount to be live by the end of November 2026. Asked about the revenue potential of the existing contracts when fully deployed, Karos estimated an annual recurring revenue, or ARR, figure of approximately $750 million, excluding other business.

Karos said a Georgia project representing approximately $13 million in monthly recurring revenue had shifted from the third quarter of 2026 to the first quarter of 2027. He said work was paused after the data center operator decided to comply with city requests following permitting, but that the issue had been resolved.

The company expects to begin handing off GPUs for the Georgia project in the fourth quarter. Karos said the scale of the deployment, involving more than 7,000 GPUs, meant the handoff and transition to full production would take time.

Karos also said two projects recently handed off would add roughly $10 million in monthly recurring revenue. He cited rain in Illinois as a factor affecting the timing of those deployments. In prepared remarks, he put the projects' combined contract value at approximately $455 million and estimated their monthly recurring revenue at $9.5 million.

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Without project shifts, Boost Run would have achieved approximately $435 million in…

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