Company: QXO-PB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023834
Chunk: 58

Company: QXO, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 58
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 $11.0 billion. 

As a result of this acquisition, QXO has transitioned to a building products distribution company and is the largest publicly traded distributor of roofing, waterproofing and complementary building products in the United States. The Company plans to become the leader in the $800 billion building products distribution industry and generate outsized value for shareholders. We are executing our strategy toward a target of $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth. 

Results of Operations for the Three Months Ended March 31, 2025 and 2024

The following tables set forth our results of operations for the periods presented and express the relationship of certain line items as a percentage of net sales for those periods. The period-to-period comparison of financial results is not necessarily indicative of future results:

(in thousands, except percentages)Three Months Ended% of net revenueMarch 31,2025March 31,2024%ChangeMarch 31,2025March 31,2024Condensed Consolidated Statements of OperationsRevenue:Software product, net$3,517 $3,480 1.1 %26.0 %24.1 %Service and other, net9,991 10,956 (8.8 %)74.0 %75.9 %Total revenue, net13,508 14,436 (6.4 %)100.0 %100.0 %Cost of revenue:Product2,215 2,199 0.7 %16.4 %15.2 %Service and other5,907 6,579 (10.2 %)43.7 %45.6 %Total cost of revenue 8,122 8,778 (7.5 %)60.1 %60.8 %Operating expenses:Selling, general and administrative expenses44,421 5,190 755.9 %328.8 %36.0 %Depreciation and amortization expenses251 240 4.6 %1.9 %1.7 %Total operating expenses44,672 5,430 722.7 %330.7 %37.7 %(Loss) income from operations(39,286)228 NM(290.8 %)1.6 %Interest income (expense), net56,553 (20)NM418.7