Company: QXO-PB
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040367
Chunk: 199

Company: QXO, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 2
Chunk 199
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 acquisition-related transaction costs of $65.6 million and stock-based compensation expense of $65.0 million.

SG&A expense for the six months ended June 30, 2025 increased to $501.2 million, up from $15.0 million for the six 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 acquisition-related transaction costs of $75.5 million and stock-based compensation expense of $85.2 million.

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Depreciation Expense

Depreciation expense was $27.2 million for the three months ended June 30, 2025, compared to $0.1 million for the three months ended June 30, 2024. The comparative increase was primarily due to an increase in property and equipment as a result of the Beacon Acquisition.

Depreciation expense was $27.3 million for the six months ended June 30, 2025, compared to $0.2 million for the six months ended June 30, 2024. The comparative increase was primarily due to an increase in property and equipment as a result of the Beacon Acquisition.

Amortization Expense

Amortization expense was $79.8 million for the three months ended June 30, 2025, compared to $0.2 million for the three months ended June 30, 2024. The comparative increase was primarily due to amortization expense associated with new customer relationships and trade names intangible assets recognized as a result of the Beacon Acquisition.

Amortization expense was $80.0 million for the six months ended June 30, 2025, compared to $0.4 million for the six months ended June 30, 2024. The comparative increase was primarily due to amortization expense associated with new customer relationships and trade names intangible assets recognized as a result of the Beacon Acquisition.

Interest (expense) income, net

Interest (expense) income, net was $(30.2) million for the three months ended June 30, 2025, compared to $3.5 million for the three months ended June 30, 2024. The comparative increase was primarily due to additional debt that was issued by QXO Building Products in connection with the Beacon Acquisition, resulting in higher interest expense. The increase in interest expense was partially offset by interest income due to a higher average interest-bearing cash balance during the three months ended