Company: QXO-PB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023834
Chunk: 37

Company: QXO, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 37
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See accompanying notes to the unaudited condensed consolidated financial statements.

4

QXO, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS

(in thousands, except per share data)

(Unaudited)

Three Months Ended March 31,20252024Revenue:Software product, net$3,517 $3,480 Service and other, net9,991 10,956 Total revenue, net13,508 14,436 Cost of revenue:Software product2,215 2,199 Service and other5,907 6,579 Total cost of revenue8,122 8,778 Operating expenses:Selling, general and administrative expenses44,421 5,190 Depreciation and amortization expenses251 240 Total operating expenses44,672 5,430 (Loss) income from operations(39,286)228 Other income (expense), net:Interest income (expense), net56,553 (20)Total other income (expense)56,553 (20)Income before taxes17,267 208 Provision for income taxes8,512 70 Net income$8,755 $138 (Loss) earnings per common share – basic and diluted (Note 4)$(0.03)$0.21 Total weighted average common shares outstanding:1Basic451,430664Diluted451,430664

See accompanying notes to the unaudited condensed consolidated financial statements.

1 Amounts have been adjusted to reflect the 8-for-1 Reverse Stock Split. See Note 3 - Equity for additional details.

5

QXO, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS’ EQUITY

(in thousands)

(Unaudited)

Three Months Ended March 31, 2025Preferred StockCommon StockAdditionalPaid-inCapitalAccumulatedDeficitTotalStockholders’EquitySharesAmountSharesAmountBalance at December 31, 20241,000$498,621 409,430$4 $4,560,503 $(6,229)$5,052,899 Preferred stock dividend—— —— — (22,500)(22,500)Share-based compensation—— —— 20,260 — 20,260 Net income—— —— — 8,755 8,755 Balance at March 31