Company: QXO-PB
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040367
Chunk: 198

Company: QXO, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 198
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 by line of business for the periods presented:

Six Months Ended June 30,% of net sales(in millions)2025202420252024Residential roofing products$929.8 $— 48.5 %0.0 %Non-residential roofing products535.5 — 27.9 %0.0 %Complementary building products426.1 — 22.2 %0.0%Software products and services28.4 29.0 1.4 %100.0 %Total net sales$1,919.8 $29.0 100.0 %100.0 %

Net sales for the six months ended June 30, 2025 increased to $1.92 billion compared to $29.0 million for the six months ended June 30, 2024. The increase in net sales was primarily driven by the Beacon Acquisition as Beacon’s net sales for the period April 29, 2025 through June 30, 2025 are included in net sales for the six months ended June 30, 2025.

Cost of Products Sold

Cost of products sold for the three months ended June 30, 2025 increased to $1.50 billion, up from $8.7 million for the three months ended June 30, 2024. The increase in cost of products sold was primarily due to higher net sales as a result of the Beacon Acquisition. Cost of products sold was also negatively impacted by the inventory fair value adjustments as a result of recording Beacon’s inventory at fair value on the acquisition date. 

Cost of products sold for the six months ended June 30, 2025 increased to $1.51 billion, up from $17.5 million for the six months ended June 30, 2024. The increase in cost of products sold was primarily due to higher net sales as a result of the Beacon Acquisition. Cost of products sold was also negatively impacted by the inventory fair value adjustments as a result of recording Beacon’s inventory at fair value on the acquisition date. 

Selling, General and Administrative (“SG&A”)

SG&A expense for the three months ended June 30, 2025 increased to $456.8 million, up from $9.8 million for the three months ended June 30, 2024. The increase in SG&A expense was primarily driven by costs incurred to support the ongoing operations of our business subsequent to the Beacon Acquisition as well as