Filing Flows › QXO (QXO) › Q1 2026
QXO (QXO) Q1 2026 earnings results (first quarter 2026)
10-Q filed May 12, 2026
QXO (QXO) reported revenue of $1.7B for the first quarter 2026 (Q1 2026), up 128-fold from a year earlier and -21% from the quarter before. Operating margin was -14.6%, net loss $227M (13.1% of revenue).
QXO, Q1 2026: revenue $1.7B (128× year over year), operating margin -14.6%, net loss $227M, operating cash flow $70.6M. The chart follows the revenue to costs, profit and cash.
| Q1 2026 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $1.7B | -21% | 128× |
| Operating profit | −$252M | — | — |
| Net earnings | −$227M | — | -2681% |
| Operating cash flow | $70.6M | -62% | +93% |
| Free cash flow | $48.1M | -70% | +32% |
What changed
Revenue was $1.7B in Q1 2026, up 12716% year over year and down 21% from the previous quarter.
Gross margin was 23.7%, down 16.3 points from Q1 2025. Operating costs exceeded revenue by $0.25B, an operating margin of -14.6%. Operating expenses grew 1379% against revenue growth of 12716%. The fastest-growing cost line was Other operating costs (+54633%). The quarter ended with a net loss of $0.23B, wider than the previous quarter's $0.09B loss.
Operating cash flow was $0.07B (up 93% year over year). Non-cash charges added back $0.16B of depreciation and amortization and $0.04B of share-based compensation. Working capital and other items added $0.09B. Capital expenditures of $0.02B left free cash flow of $0.05B.
Questions
What was QXO's revenue in the first quarter 2026?
QXO (QXO) reported revenue of $1.7B for the first quarter 2026 (Q1 2026), up 128-fold from a year earlier and -21% from the quarter before.
Was QXO profitable in the first quarter 2026?
Operating loss was $252M (-14.6% of revenue) and net loss $227M.
Source: QXO 10-Q on SEC EDGAR.