$BRUN

Boost Run Inc.

CIK:0002090646|SEC Filings

Interim Condensed Consolidated Statements of Operations (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue	$ 31,138	$ 8,423	$ 42,094	$ 12,563
Operating costs and expenses:
Cost of revenue (excluding depreciation and amortization)	1,717	541	3,296	1,244
Selling, general and administrative (excluding depreciation and amortization)	13,625	793	16,283	1,567
Depreciation and amortization	18,145	2,509	22,868	3,880
Colocation lease cost	10,555	1,562	15,222	2,372
Total operating costs and expenses	44,042	5,405	57,669	9,063
(Loss) income from operations	(12,904)	3,018	(15,575)	3,500
Other (expense) income:
Loss on sale of equipment				(195)
Interest expense	(5,051)	(454)	(6,448)	(663)
Loss in fair value of digital asset receivable		(35)	(3)	(96)
Loss on extinguishment of debt	(1,351)		(1,351)
Other income (expense), net		1	(47)	5
Total other expenses, net	(6,402)	(488)	(7,849)	(949)
Net (loss) income before income taxes	(19,306)	2,530	(23,424)	2,551
Provision for income taxes	(55,741)		(55,741)
Net (loss) income	$ (75,047)	$ 2,530	$ (79,165)	$ 2,551
Common Class A [Member]
Basic:
Net (loss) income per share, basic	$ (1.67)		$ (2.09)
Diluted:
Net (loss) income per share, diluted	$ (1.67)	$ 0.06	$ (2.09)	$ 0.06
Basic:
Weighted-average shares outstanding, basic	15,499,251		8,363,328
Diluted:
Weighted-average shares outstanding, diluted	45,032,269	42,083,748	37,896,346	42,069,562
Common Class B [Member]
Basic:
Net (loss) income per share, basic	$ (1.67)	$ 0.09	$ (2.09)	$ 0.09
Basic:
Weighted-average shares outstanding, basic	29,533,018	29,533,018	29,533,018	29,533,018

Interim Condensed Consolidated Statements of Cash Flows (Unaudited) - USD ($)	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Statement of Cash Flows [Abstract]
Net (loss) income	$ (79,165,000)	$ 2,551,000
Adjustments to reconcile net (loss) income to net cash provided by operating activities:
Depreciation and amortization	22,868,000	3,880,000
Stock-based compensation	7,268,000	406,000
Loss on sale of equipment		195,000
Loss on extinguishment of debt	1,351,000
Non-cash lease expense	8,006,000	1,270,000
Loss in fair value of digital asset receivable	3,000	96,000
Deferred tax liability	55,669,000
Amortization of debt discount	1,069,000
Non-cash interest expense	722,000	99,000
Interest accretion on financial obligation	1,919,000
Changes in operating assets and liabilities:
Accounts receivable, net	(12,726,000)	(413,000)
Prepaid expenses	(2,071,000)	494,000
Other current assets	(274,000)	(100,000)
Accounts payable	(1,687,000)	566,000
Operating lease liabilities	(3,264,000)	(647,000)
Customer deposits	112,949,000	(292,000)
Credit card payable	(92,000)	3,000
Accrued expenses and other current liabilities	1,704,000	498,000
Net cash provided by operating activities	114,249,000	8,606,000
Cash flows from investing activities
Purchases of equipment	(29,617,000)	(2,898,000)
Operating lease prepayments	(7,177,000)
Finance lease prepayments	(2,821,000)
Purchase of intangible assets	(68,000)	(16,000)
Proceeds from sale of equipment		915,000
Net cash used in investing activities	(39,683,000)	(1,999,000)
Cash flows from financing activities
Proceeds from Business Combination, net of transaction costs	114,076,000
Capital contributions		500,000
Proceeds from the exercise of warrants	43,440,000
Proceeds from Bridge Loan, net of discount	9,954,000
Repayment of Bridge Loan, net of discount	(17,209,000)
Payments on finance lease liabilities	(99,933,000)	(5,485,000)
Repayment of related party loan	(1,473,000)
Net cash provided by (used in) financing activities	48,855,000	(4,985,000)
Net change in cash and cash equivalents	123,421,000	1,622,000
Cash and cash equivalents at beginning of the period	9,747	335
Cash, cash equivalents and restricted cash at end of the period	133,168	1,957
Supplemental disclosures of cash flow information:
Cash paid for interest	2,769,000	564,000
Supplemental disclosure of cash, cash equivalents and restricted cash:
Cash	120,166,000	1,957,000
Restricted cash	13,002,000
Total cash and restricted cash	133,168,000	1,957,000
Noncash investing and financing activity:
Right-of-use assets obtained in exchange for new finance lease liabilities	268,324,000	36,935,000
Right-of-use assets obtained in exchange for new operating lease liabilities	113,425,000	9,135,000
Purchased fixed assets included in accounts payable	13,739,000
Operating lease prepayments included in accounts payable	1,645,000
Purchased intangible assets and other assets included in other financing obligations	74,387,000
Insurance premiums financed via finance arrangement	$ 2,179,000

Interim Condensed Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash	$ 120,166	$ 9,747
Accounts receivable, net	15,333	2,607
Deferred transaction costs		1,002
Prepaid expenses, current	11,027	6,187
Warrant receivable	3,850
Other current assets	4,742	131
Total current assets	155,118	19,674
Restricted cash	13,002
Operating lease right-of-use assets	122,025	8,828
Finance lease right-of-use assets	328,526	33,774
Equipment, net	54,936	14,866
Prepaid expenses, non-current	1,128
Intangible assets, net	49,045	16
Capitalized software	227	276
Other long-term assets	18,336
Total assets	742,343	77,434
Current liabilities:
Accounts payable	19,769	6,405
Credit card payable	130	222
Operating lease liabilities, current	20,169	4,388
Finance lease liabilities, current	82,238	12,721
Financial obligation, current	19,339
Customer deposits, current	34,880	15,426
Accrued expenses and other liabilities	2,173	1,235
Debt, current		242
Total current liabilities	178,698	40,639
Customer deposits, non-current	93,496
Deferred tax liability	55,669
Operating lease liabilities, non-current	99,352	4,971
Finance lease liabilities, non-current	155,888	17,664
Financial obligation, non-current	59,145
Related party loan, non-current		1,430
Debt, non-current		4,594
Total liabilities	642,248	69,298
Commitments and contingencies (Note 18)
Stockholders’ Equity:
Additional paid-in capital	196,291	25,172
Accumulated deficit	(96,203)	(17,039)
Total stockholders’ equity	100,095	8,136
Total liabilities and stockholders’ equity	742,343	77,434
Common Class A [Member]
Stockholders’ Equity:
Common stock Value	4
Common Class B [Member]
Stockholders’ Equity:
Common stock Value	$ 3	$ 3