Company: QXO-PB
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040367
Chunk: 135

Company: QXO, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 135
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.5 — 535.5 — Complementary building products426.1 — 426.1 — Software products and services15.0 14.5 28.4 29.0 Total net sales$1,906.4 $14.5 $1,919.8 $29.0 Less:Cost of products sold$1,504.7 $8.7 $1,512.8 $17.5 Selling, general administrative expenses(1)391.8 9.8 416.0 15.0 Stock-based compensation65.0 — 85.2 — Other segment items3.4 (3.4)(44.4)(3.0)Net loss$(58.5)$(0.6)$(49.8)$(0.5)(1) Excludes stock-based compensation.Geographic Information

Net sales in the U.S. accounted for approximately 97% of total net sales for the three and six months ended June 30, 2025, and approximately 97% of the Company’s long-lived assets were in the U.S. as of June 30, 2025. All of the Company’s net sales were derived from the U.S. for the three and six months ended June 30, 2024, and all of the Company’s long-lived assets were in the U.S. as of December 31, 2024. The CODM does not review geographic asset information when assessing performance or allocating resources. 

19

6. Equity

Investment Agreement On April 14, 2024, the Company entered into the Amended and Restated Investment Agreement (the “Investment Agreement”) among the Company, JPE and the other investors party thereto (collectively, the “Investors”), providing for, among other things, an aggregate investment by the Investors of $1.0 billion in cash in the Company. Pursuant to the Investment Agreement, the Company issued and sold an aggregate of 1,000,000 shares of Convertible Perpetual Preferred Stock, par value $0.001 per share (the “Convertible Preferred Stock”), which are initially convertible into an aggregate of 219.0 million shares of common stock at an initial conversion price of $4.566 per share and issued and sold warrants exercisable for an aggregate of 219.0 million shares of common stock (