Company: QXO-PB
Filing Date: 2025-03-04
Form Type: 10-K
Source: 0001628280-25-009626
Chunk: 10

Company: QXO, Inc.
Filing Date: 2025-03-04
Form: 10-K
Item: Item 16
Chunk 10
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 procedures to assess the risks of material misstatement of the financial statements, whether due to error or fraud, and performing procedures that respond to those risks. Such procedures included examining, on a test basis, evidence regarding the amounts and disclosures in the financial statements. Our audits also included evaluating the accounting principles used and significant estimates made by management, as well as evaluating the overall presentation of the financial statements. We believe that our audits provide a reasonable basis for our opinion.

Critical Audit Matters

Critical audit matters are matters arising from the current period audit of the financial statements that were communicated or required to be communicated to the audit committee and that: (1) relate to accounts or disclosures that are material to the financial statements and (2) involved our especially challenging, subjective, or complex judgments. We determined that there are no critical audit matters.

/s/ Marcum LLP

Marcum LLP

We have served as the Company’s auditor since 2004.

Marlton, New Jersey 

March 4, 2025

26

QXO, INC. AND SUBSIDIARIES

CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share data)

December 31,2024December 31,2023ASSETSCurrent assets:Cash and cash equivalents$5,068,504 $6,143 Accounts receivable, net2,736 2,969 Prepaid expenses and other current assets18,339 2,684 Total current assets5,089,579 11,796 Property and equipment, net445 503 Operating lease right-of-use assets259 522 Intangible assets, net4,024 4,919 Goodwill1,160 1,140 Deferred tax assets2,603 1,444 Other non-current assets192 171 Total assets$5,098,262 $20,495 LIABILITIES AND STOCKHOLDERS’ EQUITYCurrent liabilities:Accounts payable$6,194 $4,563 Accrued expenses35,692 2,681 Deferred revenue2,900 3,161 Long-term debt – current portion— 702 Finance lease obligations – current portion128 154 Operating lease liabilities – current portion188 263 Total current liabilities45,102 11,524 Long-term debt net of current portion— 994 Finance lease obligations net of current portion190 247 Operating lease liabilities net of current portion71 259 Total liabilities