QXO, Inc.
For the period ended Sep 30, 2025. Filed Nov 6, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 6, 2025
QXO$13.78+19.2%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Balance Sheets
(in millions, except per share amounts)
| September 30,2025 | December 31,2024 | |
|---|---|---|
| Assets | ||
| Current assets: | ||
| Cash and cash equivalents | $2,306.9 | $5,068.5 |
| Accounts receivable, net | 1,562.4 | 2.7 |
| Inventories, net | 1,663.8 | — |
| Vendor rebates receivable | 496.8 | — |
| Income tax receivable | 98.6 | — |
| Prepaid expenses and other current assets | 86.8 | 18.4 |
| Total current assets | 6,215.3 | 5,089.6 |
| Property and equipment, net | 691.0 | 0.4 |
| Goodwill | 5,070.8 | 1.2 |
| Intangibles, net | 3,938.1 | 4.0 |
| Operating lease right-of-use assets, net | 696.9 | 0.3 |
| Deferred income tax assets, net | — | 2.6 |
| Other assets, net | 30.8 | 0.2 |
| Total assets | $16,642.9 | $5,098.3 |
| Liabilities and Stockholders’ Equity | ||
| Current liabilities: | ||
| Accounts payable | $1,277.7 | $6.2 |
| Accrued expenses | 601.2 | 38.6 |
| Current portion of operating lease liabilities | 108.5 | 0.2 |
| Current portion of finance lease liabilities | 46.8 | 0.1 |
| Total current liabilities | 2,034.2 | 45.1 |
| Borrowings under revolving lines of credit | 43.0 | — |
| Long-term debt, net | 3,052.9 | — |
| Deferred income tax liabilities, net | 962.3 | — |
| Operating lease liabilities | 564.9 | 0.1 |
| Finance lease liabilities | 138.3 | 0.2 |
| Other long-term liabilities | 25.4 | — |
| Total liabilities | 6,821.0 | 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 September 30, 2025 and December 31, 2024, respectively | 558.1 | — |
| Convertible Preferred Stock, $0.001 par value; authorized 10.0 shares, 1.0 shares issued and outstanding as of September 30, 2025 and December 31, 2024 | 498.6 | 498.6 |
| Common stock, $0.00001 par value; authorized 2,000.0 shares; 674.3 and 409.4 shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | — | — |
| Additional paid-in capital | 9,039.2 | 4,560.5 |
| Retained earnings (accumulated deficit) | (273.9) | (6.2) |
| Accumulated other comprehensive loss | (0.1) | — |
| Total stockholders’ equity | 9,821.9 | 5,052.9 |
| Total liabilities and stockholders’ equity | $16,642.9 | $5,098.3 |
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.