Financial Performance - QXO reported net sales of $1,906.4 million for Q2 2025, a significant increase from $14.5 million in Q2 2024[4] - Adjusted Gross Profit for Q2 2025 was $482.0 million, with an Adjusted Gross Margin of 25.3%, compared to 40.0% in Q2 2024[4][6] - The company experienced a net loss of $58.5 million in Q2 2025, with a net margin of (3.1)%, compared to (4.1)% in Q2 2024[4] - Adjusted EBITDA for Q2 2025 was $204.6 million, resulting in an Adjusted EBITDA Margin of 10.7%[4][7] - The company reported an Adjusted Net Income of $109.2 million for Q2 2025, with an Adjusted Diluted EPS of $0.11[4][7] - The company reported a net loss of $49.8 million for the six months ended June 30, 2025, compared to a net loss of $0.5 million in the same period of 2024[23] - For the six months ended June 30, 2025, Adjusted Net Income was $144.4 million, resulting in an Adjusted Diluted EPS of $0.17[32] - The company reported a net loss of $58.5 million for the three months ended June 30, 2025, compared to a net loss of $0.6 million for the same period in 2024[34] - Adjusted Net Income for the three months ended June 30, 2025, was $109.2 million, with an Adjusted Diluted EPS of $0.11[32] - Adjusted EBITDA for the three months ended June 30, 2025, was $204.6 million, with an Adjusted EBITDA Margin of 10.7%[34] Acquisition and Integration - QXO completed the acquisition of Beacon Roofing Supply for a total purchase price of $10.6 billion, financed through a combination of cash, debt, and equity[5] - The integration of Beacon is progressing well, with expectations to at least double legacy Beacon EBITDA organically[4] Debt and Financing - The company raised $4.9 billion in debt and $4.8 billion through equity issuances during Q2 2025, with a net debt position of approximately $1.2 billion as of June 30, 2025[8] - The company generated $7,923.7 million in net cash from financing activities during the six months ended June 30, 2025[23] - The company incurred a loss on debt extinguishment amounting to $45.7 million during the six months ended June 30, 2025[23] Assets and Liabilities - Total assets increased to $17,114.2 million as of June 30, 2025, compared to $5,098.3 million on December 31, 2024[21] - Total liabilities increased to $7,198.9 million as of June 30, 2025, compared to $45.4 million on December 31, 2024[21] Operational Highlights - QXO's operational results for Q2 2025 only include legacy Beacon's operations from April 29, 2025, through June 30, 2025[6] - The residential roofing products segment accounted for 48.7% of total net sales for the three months ended June 30, 2025[25] Inventory and Restructuring - The company incurred restructuring costs of $35.3 million for both the three and six months ended June 30, 2025[32] - Inventory fair value adjustments amounted to $80.3 million for the three and six months ended June 30, 2025[34] - The company expects inventory fair value adjustments to be fully recognized during the year ended December 31, 2025[34] Share Information - The diluted weighted-average common shares outstanding for the three months ended June 30, 2025, were 702.0 million[32] Cash Flow - Cash and cash equivalents decreased to $2,282.3 million at the end of the period, down from $5,072.0 million at the beginning of the period[23] - Capital expenditures for the six months ended June 30, 2025, were $19.7 million[23] Taxation - The effective tax rate for calculating Adjusted Net Income for the three and six months ended June 30, 2025, was 25.84%[32]
SilverSun Technologies(SSNT) - 2025 Q2 - Quarterly Results