Company: QXO-PB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023834
Chunk: 38

Company: QXO, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 38
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, 20251,000$498,621 409,430$4 $4,580,763 $(19,974)$5,059,414 

Three Months Ended March 31, 2024Preferred StockCommon StockAdditionalPaid-inCapitalAccumulatedDeficitTotalStockholders’EquitySharesAmountShares1AmountBalance at December 31, 2023—$— 664$— $9,419 $(1,948)$7,471 Net income———— — 138138Balance at March 31, 2024— $— 664$— $9,419 $(1,810)$7,609 

See accompanying notes to the unaudited condensed consolidated financial statements

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1 Amounts have been adjusted to reflect the 8-for-1 Reverse Stock Split effective June 6, 2024. See Note 3 - Equity for additional details.

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

6

QXO, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands)

(Unaudited)

Three Months Ended March 31,20252024Cash flows from operating activities:Net income$8,755 $138 Adjustments to reconcile net income to net cash provided by operating activities:Deferred income taxes— 70 Depreciation56 67 Amortization of intangibles222 209 Non-cash lease expense47 81 Provision for expected losses15 — Share-based compensation20,260 — Changes in assets and liabilities:Accounts receivable(517)307 Prepaid expenses and other current assets(796)(900)Other assets10 — Accounts payable(357)310 Accrued expenses8,258 (311)Deferred revenue598 475 Operating lease liabilities(47)(81)Net cash provided by operating activities36,504 365 Cash flows from investing activities:Purchase of property and equipment(146)(61)Purchase of intangibles(659)— Net cash used in investing activities(805)(61)Cash flows from financing activities:Payment of preferred stock dividend(22,500)— Payment of long-term debt— (120)Payment of finance lease obligations(31)(49)Net cash used in financing activities(22,531)(169