QXO, Inc. announced its financial results for the fourth quarter and full year 2024. For Q4 2024, total revenue was $14.7 million, consistent with the prior year, with software product revenue increasing to $5.0 million. The company reported net income of $11.3 million, including $61.4 million in interest income. Adjusted EBITDA, a non-GAAP measure, was a loss of $7.7 million, compared to a gain of $0.7 million in Q4 2023, reflecting costs associated with establishing a new senior management team.
For the full year 2024, QXO reported a loss of $0.11 per basic and diluted share attributable to common shareholders. As of December 31, 2024, QXO maintained a strong balance sheet with approximately $5.1 billion in cash on hand and no debt, which Chairman and CEO Brad Jacobs stated is enabling the pursuit of high-value M&A opportunities in the building products distribution industry. This financial position supports QXO's ambition to become a tech-forward leader in the sector.
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