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.
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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.
