Company: QXO-PB
Filing Date: 2025-08-14
Form Type: 10-Q
Source: 0001628280-25-040367
Chunk: 50

Company: QXO, Inc.
Filing Date: 2025-08-14
Form: 10-Q
Item: Part I, Item 1
Chunk 50
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Item 1. Condensed Consolidated Financial Statements

QXO, INC. AND SUBSIDIARIES

Condensed Consolidated Balance Sheets 

(in millions, except per share amounts) 

(Unaudited)

June 30,2025December 31,2024AssetsCurrent assets:Cash and cash equivalents$2,278.5 $5,068.5 Accounts receivable, net1,575.7 2.7 Inventories, net1,849.6 — Vendor rebates receivable468.7 — Income tax receivable222.8 — Prepaid expenses and other current assets99.5 18.4 Total current assets6,494.8 5,089.6 Property and equipment, net696.3 0.4 Goodwill5,137.9 1.2 Intangibles, net4,003.8 4.0 Operating lease right-of-use assets, net747.3 0.3 Deferred income tax assets, net— 2.6 Other assets, net34.1 0.2 Total assets$17,114.2 $5,098.3 Liabilities and Stockholders’ EquityCurrent liabilities:Accounts payable$1,426.9 $6.2 Accrued expenses585.7 38.6 Current portion of operating lease liabilities108.3 0.2 Current portion of finance lease liabilities44.5 0.1 Total current liabilities2,165.4 45.1 Borrowings under revolving lines of credit199.9 — Long-term debt, net3,051.5 — Deferred income tax liabilities, net1,042.3 — Operating lease liabilities571.5 0.1 Finance lease liabilities139.5 0.2 Other long-term liabilities28.8 — Total liabilities7,198.9 45.4 Commitments and contingencies (Note 11)Stockholders’ equity:Mandatory Convertible Preferred Stock, $0.001 par value; 0.6 shares and 0.0 shares issued and outstanding as of June 30, 2025 and December 31, 2024, respectively558.1 — Convertible Preferred Stock, $0.001 par value; authorized 10.0 shares, 1.0 shares issued and outstanding as of June