Company: QXO-PB
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040367
Chunk: 196

Company: QXO, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 196
---
 QXO has transitioned to a building products distribution company and is the largest publicly-traded distributor of roofing, waterproofing, and complementary building products in North America. We plan to become the tech-enabled leader in the $800 billion building products distribution industry and generate outsized value for shareholders. We are executing our strategy toward a target of $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth.

Results of Consolidated Operations

The following tables set forth our results of operations for the periods presented. The period-to-period comparison of financial results is not necessarily indicative of future results.

Three Months Ended June 30,% of net sales(1)Six Months Ended June 30,% of net sales(1)(in millions)20252024202520242025202420252024Net sales$1,906.4 $14.5 100.0 %100.0 %$1,919.8 $29.0 100.0 %100.0 %Cost of products sold1,504.7 8.7 78.9 %60.0 %1,512.8 17.5 78.8 %60.3 %Gross profit401.7 5.8 21.1 %40.0 %407.0 11.5 21.2 %39.7 %Operating expense:Selling, general and administrative456.8 9.8 24.0 %67.6 %501.2 15.0 26.1 %51.7 %Depreciation27.2 0.1 1.4 %0.7 %27.3 0.2 1.4 %0.7 %Amortization79.8 0.2 4.2 %1.4 %80.0 0.4 4.2 %1.4 %Total operating expense563.8 10.1 29.6 %69.7 %608.5 15.6 31.7 %53.8 %Loss from operations(162.1)(4.3)(8.5)%(29.7)%(201.5)(4.1)(10.5)%(14.1)%Interest (expense) income, net(30.2)3.5 (1.6