Filing Flows › QXO (QXO) › Q3 2025
QXO (QXO) Q3 2025 earnings results (third quarter 2025)
10-Q filed Nov 6, 2025
QXO (QXO) reported revenue of $2.7B for the third quarter 2025 (Q3 2025), up 208-fold from a year earlier and +43% from the quarter before. Operating margin was 0.9%, net loss $139M (5.1% of revenue).
QXO, Q3 2025: revenue $2.7B (208× year over year), operating margin 0.9%, net loss $139M, operating cash flow $213M. The chart follows the revenue to costs, profit and cash.
| Q3 2025 | Amount | Q/Q | Y/Y |
|---|---|---|---|
| Revenue | $2.7B | +43% | 208× |
| Operating profit | $25.8M | — | — |
| Net earnings | −$139M | — | — |
| Operating cash flow | $213M | — | +573% |
| Free cash flow | $183M | — | +479% |
What changed
Revenue was $2.7B in Q3 2025, up 20727% year over year and up 43% from the previous quarter.
Gross margin was 23.3%, down 18.7 points from a year earlier. Operating profit was $0.03B, a 0.9% margin (up 258.2 points year over year). Operating expenses grew 1456% against revenue growth of 20727%. The fastest-growing cost line was Other operating costs (+78650%). The quarter ended with a net loss of $0.14B, wider than the previous quarter's $0.06B loss.
Operating cash flow was $0.21B (up 573% year over year). Non-cash charges added back $0.04B of depreciation and amortization and $0.03B of share-based compensation. Working capital and other items added $0.28B. Capital expenditures of $0.03B left free cash flow of $0.18B.
Questions
What was QXO's revenue in the third quarter 2025?
QXO (QXO) reported revenue of $2.7B for the third quarter 2025 (Q3 2025), up 208-fold from a year earlier and +43% from the quarter before.
Was QXO profitable in the third quarter 2025?
Operating profit was $25.8M (0.9% of revenue) and net loss $139M.
Source: QXO 10-Q on SEC EDGAR.