Company: QXO-PB
Filing Date: 2025-05-22
Form Type: 424B5
Source: 0001104659-25-052059
Chunk: 37

Company: QXO, Inc.
Filing Date: 2025-05-22
Form: 424B5
Chunk 37
---
 generated by the assets to which the excluded costs relate. In addition, these non-GAAP financial measures may differ from similarly titled measures presented by other companies. The impact of the following expense (income) items is excluded from each of our non-GAAP measures (the “adjusting items”): • Acquisition costs . Represent certain direct and incremental costs related to acquisitions, including: amortization of intangible assets; professional fees, branch integration expenses, travel expenses, employee severance and retention costs, and other personnel expenses classified as selling, general and administrative; gains/losses related to changes in fair value of contingent consideration or holdback liabilities; and amortization of debt issuance costs. Acquisition costs are impacted by the timing and size of the acquisitions. Acquisition costs are excluded from the non-GAAP financial measures to provide a useful comparison of operating results to prior periods and to peer companies because such amounts vary significantly based on the magnitude of the acquisition and do not reflect core operations. • Restructuring costs . Represent costs stemming from headcount rationalization efforts and certain rebranding costs; impact of divestitures; costs related to changing our fiscal year end; amortization of debt issuance costs; debt refinancing and extinguishment costs; abandoned lease costs; and costs associated with responding to unsolicited acquisition proposals and attempts to acquire control of the company. Restructuring costs are excluded from the non-GAAP financial measures, as such items vary significantly based on the magnitude of the restructuring activity and also do not reflect expected future operating expenses. Additionally, these costs do not necessarily provide meaningful insight into the current or past core operations of the business. • COVID-19 impacts . Represent costs directly related to the COVID-19 pandemic. Beginning January 1, 2023, we determined COVID-19 impacts should no longer be considered an adjusting item. This change was applied prospectively.

S-19

TABLE OF CONTENTS

The following is a reconciliation of net (loss) income to Beacon adjusted EBITDA for the periods presented below:

| (in millions)                 
 ​                             | ​    
 2025 | ​ | Three Months EndedMarch 31, |   |     ​ | ​ | 2024 |   |   |   |     ​ | ​ | ​    
 2024 | ​ | Year Ended December 31, |   |     ​ | ​ | 2023 |   |   |   |     ​ | ​ | 2022 |   |   |   |     ​ |   | ​ |
|:------------------------------