Company: QXO-PB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023834
Chunk: 47

Company: QXO, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 47
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.8 million of net proceeds.

NOTE 4 – EARNINGS (LOSS) PER COMMON SHARE

The Company’s Convertible Preferred Stock is classified as a participating security in accordance with ASC 260. Basic and diluted earnings (loss) per share is computed using the two-class method, which is an earnings allocation method that determines earnings (loss) per share for common shares and participating securities. The weighted-average number of common shares outstanding used in the basic and diluted net loss per share calculation include pre-funded warrants as the pre-funded warrants are exercisable at any time for nominal consideration. Both basic and diluted earnings (loss) per common share are adjusted on a retroactive basis to reflect the Reverse Stock Split as discussed in Note 2 – Basis of Presentation and Significant Accounting Policies. Three Months Ended March 31,20252024(in thousands, except per share data)Basic and diluted (loss) earnings per share computation:Net income$8,755 $138 Less: Preferred stock dividend(22,500)— Less: Undistributed earnings allocated to participating securities— — (Loss) income attributable to common shareholders(13,745)138 Weighted-average common shares409,430 664 Weighted average pre-funded warrants42,000 — Total weighted-average common shares outstanding451,430 664 Basic and diluted (loss) earnings per share$(0.03)$0.21 

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The following table summarizes securities that, if exercised, would have an antidilutive effect on diluted earnings per share attributable to the common shareholder.Three Months Ended March 31,20252024(in thousands)Convertible Preferred Stock 219,010—Warrants219,010—Stock-based awards22,123—Total potential dilutive securities not included in earnings per share460,143—

NOTE 5 – INTANGIBLE ASSETS

Intangible assets consist of proprietary developed software, intellectual property, and customer lists. Proprietary developed software is carried at cost less accumulated amortization; intellectual property, customer lists and acquired contracts are carried at acquisition date fair value less accumulated amortization. On January 7, 2025, the Company acquired the QXO domain names from an entity controlled by Jacobs Private Equity for $659,000. The Company has determined that the QXO domain names have an indefinite life and will not be amortized.Intangible assets at March 31, 2025, and December 31, 2024, consisted of the following:As of(in thousands)