Revenue Performance - QXO reported total revenue of $14.7 million for Q4 2024, unchanged from Q4 2023, with software product revenue increasing by 7.3% to $5.0 million[6]. - For the full year 2024, total revenue was $56.9 million, representing a 4.3% increase from $54.5 million in 2023[3]. - Total revenue for the year ended December 31, 2024, increased to $56,873 million, up 4.3% from $54,517 million in 2023[21]. Profitability and Loss - The company incurred a net loss of $(0.02) per share for Q4 2024 and $(0.11) per share for the full year 2024[2]. - Net income for the year ended December 31, 2024, was $27,969 million, a significant recovery from a net loss of $1,070 million in 2023[21]. - Adjusted EBITDA for Q4 2024 was a loss of $(7.7) million, compared to a gain of $0.7 million in Q4 2023, reflecting costs related to a new senior management team[7]. - Adjusted EBITDA for the year ended December 31, 2024, was $(19,832) million, down from $2,717 million in 2023, indicating a decline in operational profitability[25]. - The company’s basic loss per share for the year ended December 31, 2024, was $(0.11), compared to $(1.63) in 2023[21]. Cash and Assets - QXO's cash position as of December 31, 2024, was approximately $5.1 billion, with no debt[7]. - QXO's total assets as of December 31, 2024, were $5.1 billion, a significant increase from $20.5 million in 2023[19]. - Cash provided by operating activities for the year ended December 31, 2024, was $84,883 million, a significant increase from $584 million in 2023[23]. - The company reported a total cash balance of $5,072,004 million at the end of 2024, compared to $6,143 million at the end of 2023[23]. Expenses - Operating expenses for the year ended December 31, 2024, rose to $93,932 million, compared to $22,925 million in 2023, reflecting a substantial increase[21]. - The company incurred $38,896 million in selling, general, and administrative expenses for the year ended December 31, 2024, compared to $5,079 million in 2023[21]. Interest Income and Financing - The company reported net income of $11.3 million for Q4 2024, which included $61.4 million in interest income[7]. - Interest income for the year ended December 31, 2024, was $121,812 million, a notable increase from an expense of $56 million in 2023[21]. - The company issued common stock and pre-funded warrants, generating proceeds of $4,051,103 million in financing activities during the year[23]. Strategic Goals - The company aims to become a tech-forward leader in the $800 billion building products distribution industry, targeting tens of billions in annual revenue over the next decade through acquisitions and organic growth[5][8]. - The company is pursuing multiple high-value M&A opportunities to enhance its market position[5].
SilverSun Technologies(SSNT) - 2024 Q4 - Annual Results