QXO Inc. (NYSE: QXO) reported sales for the fourth quarter 2024 were $14.7 million, up 7.3% from the prior-year period. Software product revenue was $5 million, and service and other revenue was $9.8 million.
Don’t miss any content from Distribution Strategy Group. Join our list.
For the full year 2024 ended Dec. 31, 2024, sales were $15.3 million, up 8.1% from the prior year.
As of Dec. 31, 2024, the company had about $5.1 billion in cash on hand and no debt.
QXO is currently attempting to purchase Beacon (Nasdaq: BECN) as a platform as they seek to establish QXO as a “tech-forward leader in the $800 billion building products distribution industry.”
“Our strong balance sheet, including more than $5 billion of cash and no debt, is enabling our world-class leadership team to pursue high-value M&A opportunities,” said Brad Jacobs, CEO of QXO.
The company says it is targeting tens of billions of dollars of annual revenue in the next decade through accretive acquisitions and organic growth.
Share this article:
