Company: QXO-PB
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040367
Chunk: 175

Company: QXO, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 8
Chunk 175
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 included in other assets, net on the condensed consolidated balance sheets. As of June 30, 2025, there were $18.2 million of unamortized debt issuance costs related to the ABL Facility.

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As of June 30, 2025, the outstanding balance on the ABL Facility was $199.9 million. The Company also had outstanding standby letters of credit related to the ABL Facility in the amount of $17.5 million as of June 30, 2025.

The following table summarizes our cash flows for the periods indicated: 

Six Months Ended June 30,(in millions)20252024Net cash used in operating activities$(137.7)$(0.7)Net cash used in investing activities(10,575.4)(0.1)Net cash provided by financing activities7,923.7 965.9 Effect of exchange rate changes on cash, cash equivalents and restricted cash(0.3)— Net (decrease) increase in cash, cash equivalents and restricted cash$(2,789.7)$965.1 

Operating Activities

Net cash used in operating activities was $137.7 million for the six months ended June 30, 2025, compared to $0.7 million for the six months ended June 30, 2024. Cash used in operations increased $137.0 million during the six months ended June 30, 2025. The increase in cash used in operations was primarily due to the seasonal timing of net working capital requirements for inventory purchases and cash collections.

Investing Activities 

Net cash used in investing activities was $10.58 billion for the six months ended June 30, 2025, compared to $0.1 million for the six months ended June 30, 2024. Cash used in investing activities increased $10.58 billion in 2025 primarily due to the Beacon Acquisition and an increase in capital expenditures during the period. See Note 3 in the Notes to the Condensed Consolidated Financial Statements for more information.

Financing Activities

Net cash provided by financing activities was $7.92 billion for the six months ended June 30, 2025, compared to $965.9 million for the six months ended June 30, 2024. Cash provided by financing activities increased $6.96 billion during the six months ended June 30, 2025 primarily due to the issuance of the Notes, net borrowings under our