QXO, Inc.
For the period ended Jun 30, 2026. Filed Aug 14, 2026.
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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.
Jun 30, 2026 · Filed Aug 14, 2026
QXO$13.73-0.4%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Condensed Consolidated Statements of Cash Flows
| Six Months Ended June 30, | ||
|---|---|---|
| 2026 | 2025 | |
| Operating Activities | ||
| Net loss | $(282) | $(50) |
| Adjustments to reconcile net loss to net cash used in operating activities: | ||
| Depreciation(1) | 105 | 27 |
| Amortization | 257 | 80 |
| Stock-based compensation | 68 | 85 |
| Amortization of debt issuance costs | 5 | 2 |
| Loss on debt extinguishment | — | 46 |
| Provision for credit losses | 20 | 3 |
| Non-cash lease expense | 72 | 28 |
| Deferred income taxes | (75) | 22 |
| Changes in operating assets and liabilities: | ||
| Accounts receivable | (441) | (226) |
| Inventories | (367) | (16) |
| Vendor rebates receivable | (97) | (229) |
| Income tax receivable | (4) | (202) |
| Prepaid expenses and other current assets | (49) | 1 |
| Accounts payable and accrued expenses | 712 | 312 |
| Other assets and liabilities | (70) | (21) |
| Net cash used in operating activities | (146) | (138) |
| Investing Activities | ||
| Capital expenditures | (54) | (20) |
| Acquisition of business, net of cash acquired and common stock issued | (1,965) | (10,557) |
| Other | 4 | 1 |
| Net cash used in investing activities | (2,015) | (10,576) |
| Financing Activities | ||
| Borrowings under revolving lines of credit | 18 | 423 |
| Payments under revolving lines of credit | (7) | (223) |
| Borrowings under term loan | — | 2,250 |
| Payments under term loan | — | (1,400) |
| Borrowings under senior notes | 3,000 | 2,250 |
| Payment of debt issuance costs | — | (114) |
| Payments under equipment financing facilities and finance leases | (26) | (7) |
| Proceeds from issuance of common stock related to equity awards | 2 | 14 |
| Proceeds from issuance of common stock, net of issuance costs | 748 | 4,218 |
| Proceeds from issuance of Mandatory Convertible Preferred Stock, net of issuance costs | — | 558 |
| Proceeds from the issuance of Series C Preferred Stock, net of issuance costs | 1,993 | — |
| Payment of taxes related to net share settlement of equity awards | (28) | — |
| Payment of costs to obtain Series C Preferred Stock commitment | (47) | — |
| Payment of dividends on Convertible Preferred Stock | (45) | (45) |
| Payment of dividends on Mandatory Convertible Preferred Stock | (16) | — |
| Payment of dividends on Series C Preferred Stock | (23) | — |
| Net cash provided by financing activities | 5,569 | 7,924 |
| Effect of exchange rate changes on cash, cash equivalents and restricted cash | — | — |
| Net increase (decrease) in cash, cash equivalents and restricted cash | 3,408 | (2,790) |
| Cash, cash equivalents and restricted cash, beginning of period | 2,366 | 5,072 |
| Cash, cash equivalents and restricted cash, end of period | $5,774 | $2,282 |
| Supplemental Cash Flow Information | ||
| Cash paid during the period for: | ||
| Interest | $106 | $23 |
| Income taxes, net of refunds | $5 | $35 |
| Supplemental Disclosure of Non-Cash Activities | ||
| Common stock issued as consideration for acquisition | $257 | $— |
| (1) Depreciation for the six months ended June 30, 2026 includes $2 million of depreciation expense recognized within cost of products sold on the condensed consolidated statements of operations. | ||
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