Filing Flows › QXO (QXO) › Q1 2025
QXO (QXO) Q1 2025 earnings results (first quarter 2025)
10-Q filed May 8, 2025
QXO (QXO) reported revenue of $13.5M for the first quarter 2025 (Q1 2025), -6% from a year earlier and -9% from the quarter before. Operating margin was -291.1%, net earnings $8.8M (65.2% of revenue).
QXO, Q1 2025: revenue $13.5M (-6% year over year), operating margin -291.1%, net earnings $8.8M, operating cash flow $36.5M. The chart follows the revenue to costs, profit and cash.
| Q1 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $13.5M | -9% | -6% |
| Operating profit | −$39.3M | — | — |
| Net earnings | $8.8M | -22% | — |
| Operating cash flow | $36.5M | -32% | 100× |
| Free cash flow | $36.4M | -33% | 120× |
What changed
Revenue was $13.5M in Q1 2025, down 6% year over year and down 9% from the previous quarter. Service and other, net was the largest line at 74% of revenue. Service and other, net lost $1.0M year over year (down 9%), 103% of the total change.
Gross margin was 40.0%, up 0.8 points from a year earlier. Operating costs exceeded revenue by $39.3M, an operating margin of -291.1%. Operating expenses grew 723% against a revenue fall of 6%. The fastest-growing cost line was Other operating costs (+25%). Net earnings were $8.8M, up 6277% year over year. The effective tax rate was 49.1%. Non-operating items added $56.6M, 327% of pre-tax earnings, so the bottom line overstates operating performance.
Operating cash flow was $36.5M (up 9900% year over year), 415% of net earnings. Non-cash charges added back $251K of depreciation and amortization and $20.2M of share-based compensation. Working capital and other items added $7.2M. Capital expenditures of $146K left free cash flow of $36.4M.
Questions
What was QXO's revenue in the first quarter 2025?
QXO (QXO) reported revenue of $13.5M for the first quarter 2025 (Q1 2025), -6% from a year earlier and -9% from the quarter before.
Was QXO profitable in the first quarter 2025?
Operating loss was $39.3M (-291.1% of revenue) and net earnings $8.8M.
Source: QXO 10-Q on SEC EDGAR.