# EDGAR Filing Document

**Accession Number:** 0001236275
**File Stem:** 0001628280-25-046557
**Filing Date:** 2025-10
**Character Count:** 22353
**Document Hash:** 3c301759b5a1ef5fcf540291c88dda8f
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001628280-25-046557.hdr.sgml**: 20251028

**ACCESSION NUMBER**: 0001628280-25-046557

**CONFORMED SUBMISSION TYPE**: 8-K

**PUBLIC DOCUMENT COUNT**: 15

**CONFORMED PERIOD OF REPORT**: 20251028

**ITEM INFORMATION**: Results of Operations and Financial Condition

**ITEM INFORMATION**: Financial Statements and Exhibits

**FILED AS OF DATE**: 20251028

**DATE AS OF CHANGE**: 20251028

**FILER**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** QXO, Inc.
- **CENTRAL INDEX KEY:** 0001236275
- **STANDARD INDUSTRIAL CLASSIFICATION:** WHOLESALE-LUMBER & OTHER CONSTRUCTION MATERIALS [5030]
- **ORGANIZATION NAME:** 07 Trade & Services
- **EIN:** 161633636
- **STATE OF INCORPORATION:** DE
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** 8-K
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 001-38063
- **FILM NUMBER:** 251421452

**BUSINESS ADDRESS:**
- **STREET 1:** FIVE AMERICAN LANE
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06831
- **BUSINESS PHONE:** 888-998-6000

**MAIL ADDRESS:**
- **STREET 1:** FIVE AMERICAN LANE
- **CITY:** GREENWICH
- **STATE:** CT
- **ZIP:** 06831

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** SilverSun Technologies, Inc.
- **DATE OF NAME CHANGE:** 20110803

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TREY RESOURCES INC
- **DATE OF NAME CHANGE:** 20050923

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** TREY INDUSTRIES INC
- **DATE OF NAME CHANGE:** 20030528

?xml version='1.0' encoding='ASCII'? qxo-20251028

**UNITED STATES**

**SECURITIES AND EXCHANGE COMMISSION**

**Washington, D.C. 20549**

______________________________

**FORM 8-K**

______________________________

**CURRENT REPORT**

**Pursuant to Section 13 or 15(d)**

**of the Securities Exchange Act of 1934**

Date of Report (Date of earliest event reported): **October 28, 2025**

______________________________

**QXO, INC.**

(Exact name of registrant as specified in its charter)

______________________________

---

| | | | |
|:---|:---|:---|:---|
| **Delaware** | **001-38063** | **001-38063** | **16-1633636** |
| (State or other jurisdiction<br>of incorporation) | (Commission<br>File Number) | (Commission<br>File Number) | (IRS Employer<br>Identification No.) |
| **Five American Lane<br>Greenwich, Connecticut** | **Five American Lane<br>Greenwich, Connecticut** | **06831** | **06831** |
| **(**Address of principal executive offices) | **(**Address of principal executive offices) | (Zip Code) | (Zip Code) |

---

Registrant's telephone number, including area code: **888-998-6000**

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

□ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

□ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

□ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

□ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

---

| | | |
|:---|:---|:---|
| **Title of each class** | **Trading Symbol(s)** | **Name of each exchange on which registered** |
| Common stock, par value $0.00001 per share | QXO | New York Stock Exchange |
| Depositary Shares, each representing a 1/20th interest in a share of 5.50% Series B Mandatory Convertible Preferred Stock, par value $0.001 per share | QXO.PRB | New York Stock Exchange |

---

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§ 230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§ 240.12b-2 of this chapter).

Emerging growth company □

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.&nbsp;&nbsp;&nbsp;&nbsp; □

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**Item 2.02&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Results of Operations and Financial Condition.**

On October 28, 2025, QXO, Inc. (the "Company") issued a press release announcing the launch of a refinancing of the Company's Term Loan B and certain preliminary financial results for the third quarter ended September 30, 2025. The refinancing is subject to market and other conditions, and no assurances are made that the Company will consummate the refinancing on the terms contemplated, or at all. A copy of the Company's press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K.

The information furnished in this Current Report, including Exhibit 99.1, shall not be deemed "filed" for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the "Exchange Act"), or otherwise subject to the liabilities of that Section, and shall not be deemed to be incorporated by reference into any filing of the Company under the Exchange Act or the Securities Act of 1933, as amended, except to the extent that the registrant specifically incorporates any such information by reference.

**Item 9.01&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp; Financial Statements and Exhibits.**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d)Exhibits.

---

| | |
|:---|:---|
| **Exhibit**<br>**No.** | **Description** |
| 99.1 | <u>[Press release, dated](qxorefinancingpressrelease.htm)[October 28, 2025](qxorefinancingpressrelease.htm)[, issued by QXO, Inc.](qxorefinancingpressrelease.htm)</u> |
| 104 | Cover Page Interactive Data File (embedded within the Inline XBRL document). |

---

------

**SIGNATURES**

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

---

| | | |
|:---|:---|:---|
| Date: October 28, 2025 | **QXO, INC.** | **QXO, INC.** |
|  | By: | /s/ Ihsan Essaid |
|  |  | Ihsan Essaid |
|  |  | Chief Financial Officer |

---

## Exhibit 99.1

**Exhibit 99.1**

![imagea.jpg](imagea.jpg)

**QXO Announces Launch of Term Loan Refinancing**

**GREENWICH, Conn. — October 28, 2025** — QXO, Inc. ("QXO" or the "Company") (NYSE: QXO) today launched a refinancing of its Term Loan B. The refinancing is subject to market and other conditions, and no assurances are made that the Company will consummate the refinancing on the terms contemplated, or at all.

In connection with the refinancing, the Company provided to potential lenders the following summarized preliminary financial information. The Company expects to file its quarterly report on Form 10-Q for the quarter ended September 30, 2025 on November 6, 2025.

**THIRD QUARTER 2025 SUMMARY PRELIMINARY RESULTS**

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** Net sales of $2.73 billion

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** GAAP net loss of $139 million

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** Adjusted Net Income attributable to common stockholders of $121 million

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** Adjusted EBITDA of $302 million

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** Adjusted Diluted EPS of $0.14

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** Cash and cash equivalents of $2.3 billion

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;**•** Debt of $3.1 billion (excluding finance lease obligations)

Total net debt is expected to remain consistent following the refinancing.

The Company's preliminary unaudited financial results in this press release for the third quarter ended September 30, 2025 are preliminary, unaudited and subject to completion, and may change as a result of management's continued review. Such preliminary results are subject to the finalization of quarter-end financial and accounting procedures. The preliminary financial results represent management estimates that constitute forward-looking statements subject to risks and uncertainties. As a result, the preliminary financial results may materially differ from the actual results when they are completed and publicly disclosed. These preliminary results should not be viewed as a substitute for the Company's full third quarter financial statements and do not present all information necessary for a complete understanding of financial performance.

**About QXO**

QXO is the largest publicly traded distributor of roofing, waterproofing and complementary building products in North America. The Company plans to become the tech-enabled leader in the $800 billion building products distribution industry and generate outsized value for shareholders. The Company is executing its strategy toward a target of $50 billion in annual revenues within the next decade through accretive acquisitions and organic growth. Visit QXO.com for more information.

**Non-GAAP Financial Measures**

As required by the rules of the Securities and Exchange Commission ("SEC"), we provide reconciliations of the non-GAAP financial measures contained in this press release to the most directly comparable measure under GAAP, which are set forth in the financial table attached to this press release.

QXO's non-GAAP financial measures in this press release include Adjusted EBITDA, Adjusted Net Income, and Adjusted Diluted EPS. We calculate Adjusted EBITDA as net loss excluding depreciation; amortization; interest expense, net; stock-based compensation; provision for (benefit from) income taxes; restructuring costs; transaction costs; transformation costs; and inventory fair value adjustments that we do not consider representative of our underlying operations. We calculate Adjusted Net Income as net loss excluding amortization; stock-based compensation; restructuring costs; transaction costs; transformation costs; inventory fair value adjustments; and the income tax associated with such adjusting items. We calculate Adjusted Diluted EPS as Adjusted Net Income divided by the weighted-averaged number of common shares outstanding during the period plus the effect of dilutive common share equivalents based on the most dilutive result of the if-converted and two-class methods.

Management uses this non-GAAP financial measure in making financial, operating and planning decisions and evaluating QXO's ongoing performance. We believe this non-GAAP financial measure facilitates analysis of our ongoing business operations because it excludes items that may not be reflective of, or are unrelated to, QXO's core operating performance, and may assist investors with comparisons to prior periods and assessing trends in our underlying business. Other companies may calculate this non-GAAP financial measure differently, and therefore our measure may not be comparable to similarly titled measures of other companies.

------

***Forward-looking statements***

*This release includes forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. All statements other than statements of historical fact, including statements relating to the timing of the refinancing and the preliminary results, are, or may be deemed to be, forward-looking statements. In some cases, forward-looking statements can be identified by the use of forward-looking terms such as "anticipate," "estimate," "believe," "continue," "could," "intend," "may," "plan," "potential," "predict," "should," "will," "expect," "objective," "projection," "forecast," "goal," "guidance," "outlook," "effort," "target," "trajectory" or the negative of these terms or other comparable terms. These forward-looking statements are based on certain assumptions and analyses made by us in light of our experience and our perception of historical trends, current conditions and expected future developments, as well as other factors we believe are appropriate in the circumstances.*

*These forward-looking statements are subject to known and unknown risks, uncertainties and assumptions that may cause actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by such forward-looking statements. Factors that might cause or contribute to a material difference include the risks discussed in our filings with the SEC, and the following:*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• an inability to obtain the products we distribute resulting in lost revenues and reduced margins and damaging relationships with customers;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• a change in supplier pricing and demand adversely affecting our income and gross margins;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• a change in vendor rebates adversely affecting our income and gross margins;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• our inability to identify potential acquisition targets or successfully complete acquisitions on acceptable terms;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• risks related to maintaining our safety record;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the possibility that building products distribution industry demand may soften or shift substantially due to cyclicality or dependence on general economic and political conditions, including inflation or deflation, interest rates, governmental subsidies or incentives, consumer confidence, labor and supply shortages, weather and commodity prices;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the possibility that regional or global barriers to trade or a global trade war could increase the cost of products in the building products distribution industry, which could adversely impact the competitiveness of such products and the financial results of businesses in the industry;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• seasonality, weather-related conditions and natural disasters;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• risks related to the proper functioning of our information technology systems, including from cybersecurity threats and artificial intelligence use;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• loss of key talent or our inability to attract and retain new qualified talent;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• risks related to work stoppages, union negotiations, labor disputes and other matters associated with our labor force or the labor force of our suppliers or customers;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the risk that the anticipated benefits of our acquisition of Beacon Roofing Supply, Inc. (the "Beacon Acquisition") or any future acquisition may not be fully realized or may take longer to realize than expected;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the effect of the Beacon Acquisition or any future acquisition on our business relationships with employees, customers or suppliers, operating results and business generally;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• unexpected liabilities, costs, charges, expenses or accounting adjustments resulting from the Beacon Acquisition or any future acquisition or difficulties in integrating and operating acquired companies;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• risks related to our obligations under the indebtedness we incurred in connection with the Beacon Acquisition;* 

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the risk that the Company is or becomes highly dependent on the continued leadership of Brad Jacobs as chairman and chief executive officer and the possibility that the loss of Mr. Jacobs in these roles could have a material adverse effect on the Company's business, financial condition and results of operations;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the possible economic impact of the Company's outstanding warrants and preferred stock on the Company and the holders of its common stock, including market price volatility, dilution from the exercise or conversion of the warrants or preferred stock, or the impact of dividend payments from preferred stock that remains outstanding;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• challenges raising additional equity or debt capital from public or private markets to pursue the Company's business plan and the effects that raising such capital may have on the Company and its business;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the possibility that new investors in any future financing transactions could gain rights, preferences and privileges senior to those of the Company's existing stockholders;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• risks associated with periodic litigation, regulatory proceedings and enforcement actions, which may adversely affect the Company's business and financial performance;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• the impact of legislative, regulatory, economic, competitive and technological changes;*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• unknown liabilities and uncertainties regarding general economic, business, competitive, legal, regulatory, tax and geopolitical conditions; and*

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;*• other factors, including those set forth in the Company's filings with the Securities and Exchange Commission, including its Annual Report on Form 10-K for the fiscal year ended December 31, 2024 and subsequent Quarterly Reports on Form 10-Q.*

------

*All forward-looking statements set forth in this release are qualified by these cautionary statements and there can be no assurance that the actual results or developments anticipated by us will be realized or, even if substantially realized, that they will have the expected consequences to or effects on us or our business or operations. Forward-looking statements set forth in this release speak only as of the date hereof, and we do not undertake any obligation to update forward-looking statements except to the extent required by law.*

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| |
|:---|
| **Media Contact** |
| Joe Checkler |
| joe.checkler@qxo.com |
| 203-609-9650 |
| **Investor Contact** |
| Mark Manduca |
| mark.manduca@qxo.com |
| 203-321-3889 |

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**QXO, INC. AND SUBSIDIARIES**

**Reconciliation of Non-GAAP Measures**

**(in millions)**

**(Unaudited)**

***Adjusted EBITDA***

A reconciliation of GAAP net loss to Adjusted EBITDA is as follows:

---

| | |
|:---|:---|
| | **Three Months Ended September 30, 2025** |
| GAAP net loss | $(139) |
| &nbsp;&nbsp;&nbsp;&nbsp;Depreciation | 40 |
| &nbsp;&nbsp;&nbsp;&nbsp;Amortization | 118 |
| &nbsp;&nbsp;&nbsp;&nbsp;Interest expense, net | 38 |
| &nbsp;&nbsp;&nbsp;&nbsp;Inventory fair value adjustments | 51 |
| &nbsp;&nbsp;&nbsp;&nbsp;Other adjustments<sup>(1)</sup> | 194 |
| Adjusted EBITDA | $302 |
| <sup>(1)</sup> Includes stock-based compensation, provision for (benefit from) income taxes, and restructuring, transaction and transformation costs that we do not consider representative of our underlying operations. A full reconciliation of other adjustments will be provided in the Company's quarterly report on Form 10-Q for the quarter ended September 30, 2025, which is expected to be filed on November 6, 2025. | <sup>(1)</sup> Includes stock-based compensation, provision for (benefit from) income taxes, and restructuring, transaction and transformation costs that we do not consider representative of our underlying operations. A full reconciliation of other adjustments will be provided in the Company's quarterly report on Form 10-Q for the quarter ended September 30, 2025, which is expected to be filed on November 6, 2025. |

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**QXO, INC. AND SUBSIDIARIES**

**Reconciliation of Non-GAAP Measures (cont.)**

**(in millions, except per share data)**

**(Unaudited)**

***Adjusted Net Income and Adjusted Diluted EPS***

A reconciliation of GAAP net loss and diluted loss per common share to Adjusted Net Income and Adjusted Diluted EPS is as follows:

---

| | |
|:---|:---|
| | **Three Months Ended September 30, 2025** |
| GAAP net loss | $(139) |
| &nbsp;&nbsp;&nbsp;&nbsp;Adjustments, tax affected<sup>(1)</sup> | 305 |
| Adjusted Net Income | $166 |
| &nbsp;&nbsp;&nbsp;&nbsp;Dividends to participating securities | (45) |
| Adjusted Net Income attributable to common stockholders | $121 |
| Basic and diluted loss per common share | $(0.24) |
| Adjusted Diluted EPS | $0.14 |
| Adjusted diluted weighted-average common shares outstanding | 875.3 |
| <sup>(1)</sup> Includes amortization, stock-based compensation, provision for (benefit from) income taxes, inventory fair value adjustments, and restructuring, transaction and transformation costs, and the income tax associated with such adjusting items. A full reconciliation of adjustments will be provided in the Company's quarterly report on Form 10-Q for the quarter ended September 30, 2025, which is expected to be filed on November 6, 2025. | <sup>(1)</sup> Includes amortization, stock-based compensation, provision for (benefit from) income taxes, inventory fair value adjustments, and restructuring, transaction and transformation costs, and the income tax associated with such adjusting items. A full reconciliation of adjustments will be provided in the Company's quarterly report on Form 10-Q for the quarter ended September 30, 2025, which is expected to be filed on November 6, 2025. |

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