Company: QXO-PB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050298
Chunk: 49

Company: QXO, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 1
Chunk 49
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Item 1. Condensed Consolidated Financial Statements

QXO, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets 

(in millions, except per share amounts) 

(Unaudited)

September 30,2025December 31,2024AssetsCurrent assets:Cash and cash equivalents$2,306.9 $5,068.5 Accounts receivable, net1,562.4 2.7 Inventories, net1,663.8 — Vendor rebates receivable496.8 — Income tax receivable98.6 — Prepaid expenses and other current assets86.8 18.4 Total current assets6,215.3 5,089.6 Property and equipment, net691.0 0.4 Goodwill5,070.8 1.2 Intangibles, net3,938.1 4.0 Operating lease right-of-use assets, net696.9 0.3 Deferred income tax assets, net— 2.6 Other assets, net30.8 0.2 Total assets$16,642.9 $5,098.3 Liabilities and Stockholders’ EquityCurrent liabilities:Accounts payable$1,277.7 $6.2 Accrued expenses601.2 38.6 Current portion of operating lease liabilities108.5 0.2 Current portion of finance lease liabilities46.8 0.1 Total current liabilities2,034.2 45.1 Borrowings under revolving lines of credit43.0 — Long-term debt, net3,052.9 — Deferred income tax liabilities, net962.3 — Operating lease liabilities564.9 0.1 Finance lease liabilities138.3 0.2 Other long-term liabilities25.4 — Total liabilities6,821.0 45.4 Commitments and contingencies (Note 11)Stockholders’ equity:Mandatory Convertible Preferred Stock, $0.001 par value; 0.6 shares and 0.0 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively558.1 — Convertible Preferred Stock, $0.001 par value; authorized 10.0 shares, 1.0 shares issued and outstanding as of September 30,