Company: QXO-PB
Filing Date: 2025-11-06
Form Type: 10-Q
Source: 0001628280-25-050298
Chunk: 195

Company: QXO, Inc.
Filing Date: 2025-11-06
Form: 10-Q
Item: Part I, Item 2
Chunk 195
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 the periods presented:

Nine Months Ended September 30,% of net sales(in millions)2025202420252024Residential roofing products$2,281.5 $— 49.1 %0.0 %Non-residential roofing products1,269.5 — 27.3 %0.0 %Complementary building products1,054.6 — 22.7 %0.0 %Software products and services42.5 42.1 0.9 %100.0 %Total net sales$4,648.1 $42.1 100.0 %100.0 %

Net sales for the nine months ended September 30, 2025 increased to $4.65 billion compared to $42.1 million for the nine months ended September 30, 2024. The increase in net sales was primarily driven by the Beacon Acquisition as Beacon’s net sales for the period April 29, 2025 through September 30, 2025 are included in net sales for the nine months ended September 30, 2025.

Cost of Products Sold

Cost of products sold for the three months ended September 30, 2025 increased to $2.09 billion, up from $7.6 million for the three months ended September 30, 2024. The comparative increase was primarily due to higher cost of products sold associated with increased net sales as a result of the Beacon Acquisition. Cost of products sold was also negatively impacted by the inventory fair value adjustments as a result of recording Beacon’s inventory at fair value on the acquisition date. 

Cost of products sold for the nine months ended September 30, 2025 increased to $3.61 billion, up from $25.1 million for the nine months ended September 30, 2024. The comparative increase was primarily due to higher cost of products sold associated with increased net sales as a result of the Beacon Acquisition. Cost of products sold was also negatively impacted by the inventory fair value adjustments as a result of recording Beacon’s inventory at fair value on the acquisition date. 

Selling, General and Administrative (“SG&A”) Expense

SG&A expense for the three months ended September 30, 2025 increased to $452.5 million, up from $39.0 million for the three months ended September 30, 2024. The increase in SG&A expense was primarily driven by costs incurred to support the ongoing operations of our