Company: QXO-PB
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040367
Chunk: 55

Company: QXO, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 55
---
uance of Convertible Preferred Stock and Warrants, net of issuance costs— — 1.0 498.6 — — 483.0 — — 981.6 Common stock dividend— — — — — — (17.4)— — (17.4)Net loss— — — — — — — (0.5)— (0.5)Balance as of June 30, 2024—$— 1.0$498.6 0.7$— $475.0 $(2.4)$— $971.2 

See accompanying notes to the unaudited condensed consolidated financial statements.

8

QXO, INC. AND SUBSIDIARIES

Condensed Consolidated Statements of Cash Flows

(in millions) 

(Unaudited)

 Six Months Ended June 30, 20252024Operating ActivitiesNet loss$(49.8)$(0.5)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation27.3 0.2 Amortization80.0 0.4 Stock-based compensation85.2 — Amortization of debt issuance costs2.3 — Loss on debt extinguishment45.7 — Provision for credit losses2.7 — Non-cash lease expense27.9 0.1 Deferred income taxes21.9 (0.2)Changes in operating assets and liabilities:Accounts receivable(226.1)(0.1)Inventories(15.6)— Vendor rebates receivable(228.5)— Income tax receivable(202.4)— Prepaid expenses and other current assets1.1 (2.8)Accounts payable and accrued expenses312.1 2.5 Other assets and liabilities(21.5)(0.3)Net cash used in operating activities(137.7)(0.7)Investing ActivitiesCapital expenditures(19.7)(0.1)Acquisition of business, net of cash acquired(10,556.5)— Other0.8 — Net cash used in investing activities(10,575.4)(0.1)Financing ActivitiesBorrowings under revolving lines of credit422.6 — Payments under revolving lines of credit(223.0)— B