Company: QXO-PB
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001628280-25-023834
Chunk: 36

Company: QXO, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Part I, Item 1
Chunk 36
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Item 1. Financial Statements (Unaudited)

QXO, INC. AND SUBSIDIARIES

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except share and per share data)

(Unaudited)

March 31,2025December 31,2024ASSETSCurrent assets:Cash and cash equivalents$5,081,672 $5,068,504 Accounts receivable, net3,237 2,736 Prepaid expenses and other current assets19,135 18,339 Total current assets5,104,044 5,089,579 Property and equipment, net535 445 Operating lease right-of-use assets212 259 Intangible assets, net4,460 4,024 Goodwill1,160 1,160 Deferred tax assets2,603 2,603 Other non-current assets182 192 Total assets$5,113,196 $5,098,262 LIABILITIES AND STOCKHOLDERS’ EQUITYCurrent liabilities:Accounts payable$5,837 $6,194 Accrued expenses43,947 35,692 Deferred revenue3,498 2,900 Operating lease liabilities, current portion182 188 Finance lease obligations, current portion131 128 Total current liabilities53,595 45,102 Finance lease obligations, net of current portion156 190 Operating lease liabilities, net of current portion31 71 Total liabilities53,782 45,363 Commitments and contingencies (Note 7)Stockholders’ equity:Preferred stock, $0.001 par value; authorized 10,000,000 shares, 1,000,000 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively498,621 498,621 Common stock, $0.00001 par value; authorized 2,000,000,000 shares, 409,430,195 shares issued and outstanding as of March 31, 2025 and December 31, 2024, respectively4 4 Additional paid-in capital4,580,763 4,560,503 Accumulated deficit(19,974)(6,229)Total stockholders’ equity5,059,414 5,052,899 Total liabilities and stockholders’ equity$5,113,196 $5,098,262