Company: QXO-PB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050298
Chunk: 200

Company: QXO, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 200
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Three Months Ended September 30,Nine Months Ended September 30,(in millions, except per share amounts)20252025Net loss$(139.4)$(189.2)Provision for (benefit from) income taxes128.9 (40.4)Loss before provision for income taxes(10.5)(229.6)Amortization117.8 197.8 Stock-based compensation31.1 116.3 Loss on debt extinguishment(1)— 45.7 Restructuring costs7.2 42.5 Transaction costs4.3 79.8 Transformation costs23.2 35.0 Inventory fair value adjustments(2)51.4 131.7 Adjusted income before provision for income taxes224.5 419.2 Income tax associated with the adjustments above(3)(58.3)(108.6)Adjusted Net Income$166.2 $310.6 Convertible Preferred Stock dividend(22.5)(67.5)Mandatory Convertible Preferred Stock dividend(7.9)(11.0)Undistributed income allocated to participating securities(14.6)(17.8)Adjusted Net Income attributable to common stockholders$121.2 $214.3 Basic and diluted loss per common share$(0.24)$(0.46)Adjusted Diluted EPS(4)$0.14 $0.32 Adjusted diluted weighted-average common shares outstanding(4)875.3679.6(1) Represents extinguishment costs resulting from the partial prepayment of borrowings under the Term Loan Facility (as defined below).(2) Represents the inventory fair value adjustments related to recording the inventory of acquired businesses at fair value on the date of acquisition. We expect the inventory fair value adjustments to be fully recognized during the year ended December 31, 2025.(3) The effective tax rate to calculate Adjusted Net Income (Loss) for the three and nine months ended September 30, 2025 is 26.0% and 25.9%, respectively, due to the tax calculated on adjusted income (loss) before provision for income taxes.(4) Adjusted Diluted EPS is calculated as Adjusted Net Income (Loss) divided by the weighted-average number of common shares outstanding during the period plus the effect of dilutive common share equivalents based on the most dilutive result of the if-converted and two-class methods.

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Adjusted EBITDA and Adjusted