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QXO on NYSE

QXO, Inc.

American wholesale-lumber and construction materials company1

In its 2026 annual report the company says: “QXO, Inc. was created to build a tech-forward leader in the approximately $800 billion building products distribution sector. The Company was formerly known as SilverSun Technologies, Inc.”4 It is headquartered in Greenwich, Connecticut.1

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Last updated Oct 21, 2026.

Overview

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  • TickerQXO on NYSE1
  • IndustryWholesale-Lumber & Other Construction Materials1
  • HeadquartersGreenwich, Connecticut1
  • Incorporated inDE2
  • Business addressFive American Lane, Greenwich, Ct 068312
  • Filer categoryNon-accelerated filer2
  • Legal formCorporation
  • Kind of organizationReal estate vehicle1

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QXO, Inc. (“QXO”, “we”, “our”, or the “Company”) was created to build a tech-forward leader in the approximately $800 billion building products distribution sector.4 From its latest annual report

Financials

From the company’s reports to the SEC. Every number links to the filing it came from.

Key numbers, fiscal 2025

23.0%Gross margin5
-3.6%Operating margin5
-4.1%Net margin5
11925.0%Revenue growth, 20255
-2.9%Return on equity5
0.31×Debt to equity5

Where the money goes

Where each dollar of revenue went, fiscal 2025

  • Cost of revenue77¢$5.3B
  • Selling, general and admin20¢$1.4B
  • Other costs2¢$120.2M
  • Income tax1¢$57.7M

Out of $6.8B in revenue.5 The company lost money this year.

Where each dollar of operating cash went, fiscal 2025

  • Kept or used elsewhere100¢$261.4M

Out of $261.4M of cash from operations.5

Financial statements

Revenue6789105$6.8B in 2025+17671% since 2019
0$2.0B$4.0B$6.0B$8.0B2019: $38.5M$38.5M20192020: $41.2M$41.2M2020+7%2021: $41.7M$41.7M2021+1%2022: $45.0M$45.0M2022+8%2023: $54.5M$54.5M2023+21%2024: $56.9M$56.9M2024+4%2025: $6.8B$6.8B2025+11925%
Gross profit67895$1.6B in 2025+10614% since 2019
0$500.0M$1.0B$1.5B$2.0B2019: $14.7M$14.7M20192020: $16.6M$16.6M2020+13%2021: $17.2M$17.2M2021+4%2022: $18.0M$18.0M2022+4%2023: $21.6M$21.6M2023+20%2024: $23.1M$23.1M2024+7%2025: $1.6B$1.6B2025+6708%
Operating income6789105-$245.2M in 2025+12757% since 2019
-$300.0M-$200.0M-$100.0M0$100.0M2019: -$1.9M-$1.9M20192020: $223.4K$223.4K20202021: -$231.0K-$231.0K20212022: -$385.4K-$385.4K2022+67%2023: -$1.3M-$1.3M2023+240%2024: -$71.0M-$71.0M2024+5316%2025: -$245.2M-$245.2M2025+245%
Net income6789105-$279.4M in 2025
-$300.0M-$200.0M-$100.0M0$100.0M2019: $6.8M$6.8M20192020: $175.6K$175.6K2020−97%2021: -$134.4K-$134.4K20212022: -$282.2K-$282.2K2022+110%2023: -$1.1M-$1.1M2023+279%2024: $28.0M$28.0M20242025: -$279.4M-$279.4M2025

Every line of the income statement as filed: the last 2 fiscal years, latest first.5

Period ending2025-12-312024-12-31
Net sales$6.8B$56.9M
Cost of products sold$5.3B$33.8M
Gross profit$1.6B$23.1M
Selling, general and administrative$1.4B$93.0M
Depreciation$108.4M$200.0K
Amortization$314.7M$900.0K
Total operating expense$1.8B$94.1M
Loss from operations-$245.2M-$71.0M
Interest (expense) income, net-$47.7M$121.8M
Loss on debt extinguishment-$49.7M$0
Other income, net$5.5M$0
(Loss) income before (benefit from) provision for income taxes-$337.1M$50.8M
(Benefit from) provision for income taxes-$57.7M$22.8M
Net (loss) income-$279.4M$28.0M
Loss per common share - basic (in usd per share)-$0.63-$0.11
Loss per common share - diluted (in usd per share)-$0.63-$0.11
Basic (in shares)613.0M shares204.0M shares
Diluted (in shares)613.0M shares204.0M shares

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Corporate structure

QXO, Inc. sits at the top of its group. 2 entities, 1 country on record. Switch between the flow chart and the network, and select any entity to see its details.

Major holders of QXO, Inc.

  • ORBIS INVESTMENT MANAGEMENT LTD Filed SCHEDULE 13G/A on QXO, Inc., latest Aug 14, 2026 (8 filings since Aug 12, 2024)
  • Invesco Filed SCHEDULE 13G/A on QXO, Inc., latest Aug 13, 2026 (2 filings since Aug 13, 2026)
  • BAILLIE GIFFORD & CO Filed SCHEDULE 13G on QXO, Inc., latest Aug 3, 2026
  • BlackRock Filed SCHEDULE 13G on QXO, Inc., latest Jul 29, 2026
  • Jacobs Private Equity II, LLC Filed SCHEDULE 13D/A on QXO, Inc., latest Apr 20, 2026 (6 filings since Dec 13, 2023)
  • VANGUARD GROUP INC Filed SCHEDULE 13G/A on QXO, Inc., latest Mar 27, 2026 (4 filings since Apr 30, 2025)
  • MFN Partners, LP Filed SCHEDULE 13G/A on QXO, Inc., latest Feb 13, 2026 (4 filings since Jul 29, 2024)
  • Morgan Stanley Filed SCHEDULE 13G/A on QXO, Inc., latest Feb 12, 2026 (4 filings since Feb 9, 2024)
  • Affinity Partners GP LP Filed SCHEDULE 13D/A on QXO, Inc., latest Aug 14, 2025 (2 filings since May 6, 2025)
  • Finepoint Capital LP Filed SCHEDULE 13G/A on QXO, Inc., latest Aug 13, 2025 (2 filings since Nov 13, 2024)
  • AustralianSuper Pty Ltd Filed SCHEDULE 13G/A on QXO, Inc., latest Aug 11, 2025 (2 filings since Nov 1, 2024)
  • BARD ASSOCIATES INC Filed SC 13G/A on QXO, Inc., latest Jan 4, 2024 (3 filings since Feb 14, 2022)
  • QXO, Inc. Greenwich, Connecticut
    • QXO Building Products, Inc. Subsidiary · Delaware, United States

Built from subsidiaries listed in Exhibit 21 of annual reports filed with the SEC; major holders from Schedules 13D and 13G. Each entity in the chart links to its source.

What it owns

What QXO, Inc. reports owning in its annual reports to the SEC: buildings, land and equipment, real estate and locations, investments, intangible assets and inventory, at the end of its latest fiscal year and a year before.

Property and equipment

ItemLatestA year beforeChange
Finance-lease assets$197.0K10 Dec 31, 2024$332.0K10 Dec 31, 2023−40.7%
Operating-lease assets (leased space)$689.6M5 Dec 31, 2025$300.0K5 Dec 31, 2024+229766.7%

Investments

ItemLatestA year beforeChange
Cash and cash equivalents$2.4B5 Dec 31, 2025$5.1B5 Dec 31, 2024−53.4%

Intangibles and goodwill

ItemLatestA year beforeChange
Goodwill$5.1B5 Dec 31, 2025$1.2M5 Dec 31, 2024+425841.7%
Intangible assets, net (excluding goodwill)$3.8B5 Dec 31, 2025$4.0M5 Dec 31, 2024+95377.5%
Finite-lived intangibles, gross$4.1B5 Dec 31, 2025$9.4M5 Dec 31, 2024+43927.7%
Accumulated amortization$320.2M5 Dec 31, 2025$5.4M5 Dec 31, 2024+5829.6%
Finite-lived intangibles, net$3.8B5 Dec 31, 2025$4.0M5 Dec 31, 2024+95360.0%

Inventory

ItemLatestA year beforeChange
Inventory, total$1.5B5 Dec 31, 2025$05 Dec 31, 2024

Properties, in its own words

Our main properties include corporate office space and branch facilities. We believe that all of our properties have been adequately maintained, are in good condition and are generally suitable and adequate for our current needs. Additional space may be required as we expand our business activities. We do not foresee any significant difficulties in obtaining additional facilities if deemed necessary.

Corporate Offices

The rest of Item 2

Our corporate headquarters is located on leased premises in Greenwich, Connecticut. We also lease other corporate office space, with our largest offices located in Herndon, Virginia, Coppell, Texas, and Seattle, Washington. These locations have corporate functions such as executive management, accounting, sales, human resources, legal, marketing, supply chain management, business development and information technology. Our leased corporate offices range in size from approximately 600 square feet to 25,200 square feet.

Branch Facilities

As of December 31, 2025, we operated approximately 600 branch facilities throughout all 50 states in the U.S. and seven provinces in Canada. Of our total branch facilities, approximately 96% were located in the U.S. and approximately 4% were located in Canada. Our branch facilities range in size from approximately 2,000 square feet to 148,700 square feet. We lease approximately 97% of our branch facilities, and the remaining 3% are owned.

Item 2 of the 10-K filed Feb 27, 2026.4

Leadership

Who has led QXO, Inc., and when. Pick a name to see everywhere that person has worked.

Chief executive

  1. Mark Meller2006–2024
  2. Jerome R. Mahoney2007
  3. S. Jacobs Bradley2024–now

Chair

  1. Jerome R. Mahoney2006

President

  1. Mark Meller2006–2008
  2. Jerome R. Mahoney2007
  3. Kenneth J. West2026–now

Chief financial officer

  1. Crandall Melvin Iii.2015
  2. Christine Elizabeth Dye2019
  3. Joseph P. Macaluso2023–2024
  4. Ihsan Essaid2024–now

Chief operating officer

  1. Kenneth J. West2026–now
2010201520202025
Board members and other officers (19)

Named in SEC Form D filings

People the company listed in its private-offering notices.

  • Executive Officer, DirectorBrad Jacobs named Apr 15, 202639
  • DirectorJared Kushner named Apr 15, 202639

Subsidiaries and ownership

Subsidiaries (Exhibit 21)

The subsidiaries the company lists in Exhibit 21 of its annual report, as filed.

Former names

  • SilverSun Technologies, Inc.Aug 3, 2011 to Jun 5, 20242
  • TREY RESOURCES INCSep 27, 2005 to Jun 30, 20112
  • TREY INDUSTRIES INCJun 3, 2003 to Sep 14, 20052

Timeline

  1. Aug 24, 20268-K Executive or director change; Other events40
  2. Aug 13, 20268-K Results of operations41
  3. Jul 23, 20268-K Other events42
  4. Jul 9, 20268-K Regulation FD disclosure43
  5. Jul 1, 20268-K Entered a material agreement; Completed an acquisition or sale; New debt or obligation44
  6. Jun 30, 20268-K Other events45
  7. Jun 29, 20268-K Shareholder vote; Regulation FD disclosure46
  8. Jun 22, 20268-K Other events47
  9. Jun 17, 20268-K Entered a material agreement; New debt or obligation; Other events48
  10. Jun 12, 20268-K Other events49
  11. Jun 4, 20268-K Regulation FD disclosure50
  12. Jun 4, 20268-K Other events51
  13. Jun 17, 2024New chief executive S. Jacobs Bradley becomes CEO14
  14. Dec 18, 2007New chief executive Jerome R. Mahoney becomes CEO15
  15. Apr 14, 2006New chief executive Mark Meller becomes CEO16

Calendar

Coming up

  1. Nov 5, 2026Reports results for the quarter ending Sep/2026 A year earlier it reported $0.14 a share, on Nov 6, 2025.52

When it reported results

  1. Aug 13, 2026Reported quarterly or annual results41
  2. May 12, 2026Reported quarterly or annual results53
  3. Feb 25, 2026Reported quarterly or annual results54
  4. Jan 15, 2026Reported quarterly or annual results55
  5. Nov 6, 2025Reported quarterly or annual results56
  6. Oct 28, 2025Reported quarterly or annual results57
  7. Aug 14, 2025Reported quarterly or annual results58
  8. May 8, 2025Reported quarterly or annual results59

Upcoming dates from Nasdaq's calendar; past results from the company's 8-K filings (Item 2.02). The full markets calendar

Filings

398 filings to the SEC since October 2021: 5 annual reports, 15 quarterly reports, 93 major events, 97 insider forms, 45 large holders, 1 private raises, 142 other. The latest 20:

  1. Oct 13, 20264 EDGAR
  2. Sep 17, 20264 EDGAR
  3. Sep 4, 20263 EDGAR
  4. Aug 24, 20268-K EDGAR
  5. Aug 14, 202610-Q EDGAR
  6. Aug 14, 2026SCHEDULE 13G/A EDGAR
  7. Aug 13, 20268-K EDGAR
  8. Aug 13, 2026SCHEDULE 13G/A EDGAR
  9. Aug 13, 2026SCHEDULE 13G EDGAR
  10. Aug 3, 2026SCHEDULE 13G EDGAR
  11. Jul 29, 2026SCHEDULE 13G EDGAR
  12. Jul 23, 20268-K EDGAR
  13. Jul 23, 2026424B7 EDGAR
  14. Jul 17, 20264 EDGAR
  15. Jul 17, 20264 EDGAR
  16. Jul 9, 20268-K EDGAR
  17. Jul 2, 20264 EDGAR
  18. Jul 2, 20263 EDGAR
  19. Jul 2, 20263 EDGAR
  20. Jul 1, 2026S-8 EDGAR

The 398 filings since October 2021 can be filtered by form type and year here when JavaScript is on.

Every filing from the last five years, summarized. The full record is on SEC EDGAR.

Insider trades

25 open-market trades by officers, directors and large owners since October 2021: 2 buys and 23 sales. Grants, option exercises and gifts are left out.

DateWhoTradeSharesPriceValueFiling
Nov 6, 2024MFN Partners, LP10% ownerSale7,000,000$15.05$105.3MForm 4
Aug 26, 2024MFN Partners, LP10% ownerSale795,894$15.05$12.0MForm 4
Jun 10, 2024Meller MarkPres., SilverSun TechnologiesSale21,624$242.41$5.2MForm 4
Jun 4, 2024Meller MarkPres., SilverSun TechnologiesSale42,700$18.79$802.5KForm 4
Jun 3, 2024Meller MarkPres., SilverSun TechnologiesSale53,856$18.38$989.9KForm 4
May 31, 2024Meller MarkPres., SilverSun TechnologiesSale21,640$18.87$408.3KForm 4
Mar 26, 2024Meller MarkPres., SilverSun TechnologiesSale2,568$12.97$33.3KForm 4
Mar 25, 2024Meller MarkPres., SilverSun TechnologiesSale14,584$13.08$190.8KForm 4
Mar 22, 2024Meller MarkPres., SilverSun TechnologiesSale15,876$13.19$209.4KForm 4
Mar 21, 2024Meller MarkPres., SilverSun TechnologiesSale56,913$13.69$779.1KForm 4
Mar 20, 2024Meller MarkPres., SilverSun TechnologiesSale15,521$13.36$207.4KForm 4
Mar 19, 2024Meller MarkPres., SilverSun TechnologiesSale8,488$13.61$115.5KForm 4
Jan 8, 2024WUNDERLICH STANLEYDirectorSale1,500$23.50$35.2KForm 4
Jan 5, 2024Schachtel John D.DirectorSale144$21.45$3.1KForm 4
Jan 5, 2024WUNDERLICH STANLEYDirectorSale2,134$20.47$43.7KForm 4
Jan 4, 2024WUNDERLICH STANLEYDirectorSale600$18.01$10.8KForm 4
Dec 29, 2023WUNDERLICH STANLEYDirectorSale4,000$17.45$69.8KForm 4
Dec 28, 2023Edwards Kenneth E.DirectorSale7,981$13.93$111.2KForm 4
Dec 27, 2023WUNDERLICH STANLEYDirectorSale500$12.00$6.0KForm 4
Dec 14, 2023Schachtel John D.DirectorSale7,981$9.04$72.1KForm 4

All 25 trades can be filtered by person here when JavaScript is on.

From Forms 4 filed with the SEC.

Major holders

Investors who own more than 5% of the shares must tell the SEC: a 13D if they may seek to influence the company, a 13G if they hold passively.

Executive pay

What the company paid its top executives, from the summary compensation table in its proxy statement. Total pay includes salary, bonus, stock and option awards and other pay, as the company valued them.

YearExecutiveAgeSalaryTotal pay
2025Valeri LiborskiChief Technology Officer$450.0K$7.6M73
2025Chris SignorelloChief Legal Officer$515.0K$2.2M73
2025Ihsan EssaidChief Financial Officer$900.0K$910.5K73
2025Brad JacobsChairman and Chief Executive Officer69$750.0K73
2024Brad JacobsChairman and Chief Executive Officer69$418.3K$189.4M73
2024Ihsan EssaidChief Financial Officer$415.4K$37.3M73
2024Chris SignorelloChief Legal Officer$287.2K$6.0M73

Money raised

Private offerings the company reported to the SEC on Form D.

  1. Apr 1, 2026Raised $253.9 million in a private offering of equity Form D: 166 investors so far Form D

Held by these funds

The largest holders among investment managers' 13F reports for the quarter ending Jun 30, 2026, the top 25 of 100. Change is in shares since the quarter before.

FundSharesValueShare of the fundChange
Morgan Stanley86,495,549$1.5B0.1%+11,860,833
Orbis Allan Gray Ltd73,951,325$1.3B4.4%No change
Invesco Ltd.48,108,252$831.3M0.1%+9,975,598
Baillie Gifford & Co47,867,886$827.2M0.8%+34,243,647
BlackRock, Inc.46,536,649$804.2M0.0%+21,252,280
Affinity Partners GP LP32,698,176$565.0M100.0%+12,111
UBS Group AG30,180,372$521.5M0.1%+14,956,865
Vanguard Capital Management LLC29,686,910$513.0M0.0%+1,446,060
Fred Alger Management, LLC27,362,195$472.8M1.6%+4,957,483
Vanguard Portfolio Management LLC27,069,727$467.8M0.0%+1,409,749
Alpha Wave Global, LP24,390,244$421.5M6.8%No change
MFN Partners Management, LP23,454,350$405.3M8.4%No change
Finepoint Capital LP18,113,850$313.0M67.9%+4,255,435
Hrtg Gpe, LLC13,319,457$230.2M9.3%No change
Maniro Ltd12,047,619$208.2M46.7%+1,106,700
Consulta Ltd12,000,000$207.4M7.5%+1,000,000
Norges Bank11,613,483$200.7M0.0%New
MTCO Ltd.10,940,919$189.1M69.7%No change
State Street Corp10,770,362$186.1M0.0%+571,861
Geode Capital Management, LLC9,297,544$165.7M0.0%−106,471
Blue Investment Opportunities, LLC - Project Breeze Series 18,073,038$139.5M100.0%No change
Balyasny Asset Management L.P.7,762,412$134.1M0.3%+7,594,439
Millennium Management LLC7,289,644$126.0M0.1%+7,214,662
Patient Capital Management, LLC7,136,669$123.3M4.1%+358,280
Schonfeld Strategic Advisors LLC6,925,608$119.7M0.6%+6,814,470

13F reports cover disclosed long positions in U.S. stocks only.

SEC filer profile

How QXO, Inc. is registered with the Securities and Exchange Commission, from its EDGAR record and the cover page of its latest annual report.

  • Name on EDGARQXO, Inc.1
  • CIK0001236275
  • Employer ID (EIN)16-16336364
  • Filer statusNon-accelerated filer not an emerging growth company; a smaller reporting company; not a shell company4
  • Incorporated inDelaware4
  • Fiscal year endsDecember 311
  • Industry code (SIC)5030 Wholesale-Lumber & Other Construction Materials1
  • SEC reviewing officeOffice of Trade & Services, Division of Corporation Finance1
  • Business addressFive American Lane, Greenwich, CT 068311
  • Phone888-998-60001
  • Shares outstanding1,037,490,709 as of Aug 7, 202612
  • Public float$13.7B as of Jun 30, 20254
  • AuditorDELOITTE & TOUCHE LLP, Tempe, Arizona PCAOB ID 34; no auditor attestation of internal control over financial reporting4
  • On EDGAR sinceJun 3, 20031
  • Filings761 in all: 8-K (180), 4 (140), 10-Q (56), SC TO-T/A (34), 3 (24), DFAN14A (22), 10-K (18), CORRESP (17)1
    All 62 form types

    SC 13D/A (17), SCHEDULE 13G/A (17), DEFA14A (15), S-8 (15), 10QSB (12), 424B5 (12), DEF 14A (12), UPLOAD (12), SB-2/A (11), 144 (9), SC 13G/A (9), 425 (8), NT 10-Q (8), SC 13G (7), 8-K/A (6), S-8 POS (6), SC 13D (6), 10KSB (5), EFFECT (5), S-1/A (5), S-4/A (5), SCHEDULE 13G (5), 4/A (4), 424B3 (4), NT 10-K (4), 424B7 (3), 8-A12B (3), ARS (3), DEF 14C (3), PRE 14C (3), RW (3), SB-2 (3), SCHEDULE 13D/A (3), 10QSB/A (2), CERT (2), POS AM (2), PRE 14A (2), S-3ASR (2), S-4 (2), 10-12G (1), 10-K/A (1), 25 (1), 424B2 (1), 424B4 (1), 5 (1), 8-A12G (1), CERTNAS (1), D (1), FWP (1), S-1 (1), S-3 (1), S-3/A (1), SC TO-T (1), SCHEDULE 13D (1)

  • Latest filingsAnnual report (10-K) Feb 27, 2026
    Quarterly report (10-Q) Aug 14, 2026
    Proxy statement (DEF 14A) Mar 24, 2026
    Latest 8-K (8-K) Aug 24, 2026

Securities registered for trading

ClassSymbolExchange
Common Stock, par value $0.00001 per shareQXONew York Stock Exchange
Depositary Shares, each representing a 1/20th interest in a share of 5.50% Series B Mandatory Convertible Preferred Stock, par value $0.001 per shareQXO.PRBNew York Stock Exchange

From the cover page of the 10-K filed Feb 27, 2026 (Section 12(b) of the Exchange Act).4

Risk factors and legal proceedings

The risks QXO, Inc. names in Item 1A of its 10-K filed Feb 27, 2026: 33 risks under these headings, as written.4

  • Risks Related to Product Supply and Vendor Relations
  • An inability to obtain the products that we distribute could result in lost revenues and reduced margins and damage relationships with customers.
  • A change in supplier pricing and demand could adversely affect our income and gross margins.
  • A change in vendor rebates could adversely affect our income and gross margins.
  • Risks Related to Acquisitions and our Growth Strategy
  • We may not be able to identify potential acquisition targets or successfully complete acquisitions on acceptable terms, which could slow our inorganic growth rate.
  • We may not be able to effectively integrate newly acquired businesses into our operations or achieve expected cost savings or profitability from our acquisitions.
  • We face competition for businesses that fit our acquisition strategy and, therefore, we may have to acquire targets at sub-optimal prices or, alternatively, forego certain acquisition opportunities.
  • The implementation of our cost and revenue initiatives to enhance efficiencies and drive organic growth may not be effective and may not improve our results of operations or cash flow from operations as planned.
  • Risks Related to Cyclicality, Seasonality, and Weather
  • Cyclicality in our business and general economic conditions could result in lower revenues and reduced profitability.
  • Seasonality, weather-related conditions, and natural disasters may have a significant impact on our financial results.
The other 24 risks
  • Risks Related to Information Technology
  • If we encounter interruptions in the proper functioning of our information technology systems, including from cybersecurity threats, we could experience material problems with our operations, including inventory, collections, customer service, cost control, and business plan execution that could have a material adverse effect on our financial results, including unanticipated increases in costs or decreases in net sales.
  • Our business may be harmed if we are unable to effectively develop, implement, maintain, enhance, protect and upgrade information technology systems, including those systems of any businesses we acquire.
  • Risks Related to Human Capital
  • Loss of key talent or our inability to attract and retain new qualified talent could hurt our ability to operate and grow successfully.
  • Our business may be adversely affected by work stoppages, union negotiations, labor disputes and other matters associated with our labor force or the labor force of our suppliers or customers.
  • We are dependent on the continued leadership of Brad Jacobs as chairman and chief executive officer. The possibility of the loss of Mr. Jacobs in these roles could have a material adverse effect on the Company’s business, financial condition and results of operations.
  • The past performance by Brad Jacobs or our management team may not be indicative of future performance or results.
  • Risks Related to Our Industry
  • A measure of our success is dependent on maintaining our safety record, and an injury to, or death of, any of our employees, customers, or members of the general public related to our business activities could result in material liabilities and reputational injury.
  • Our industry is highly fragmented and competitive. If we are unable to compete effectively, our net sales and operating results may be reduced.
  • Regional or global barriers to trade or a global trade war could increase the cost of products in the building products distribution industry, which could adversely impact the competitiveness of such products and the financial results of businesses in the industry.
  • Risks Related to the Acquisition of Beacon
  • We may be unable to integrate Beacon successfully and realize the anticipated benefits of the Beacon Acquisition.
  • Beacon may have liabilities that are not known to us.
  • Risks Related to Our Indebtedness
  • Our substantial indebtedness could adversely affect our financial condition.
  • We may not be able to generate sufficient cash to service all of our indebtedness and may be forced to take other actions to satisfy the obligations of the Credit Parties under our indebtedness, which may not be successful.
  • Our debt agreements contain restrictions that limit our flexibility in operating our business.
  • Regulatory and General Risks
  • Our activities and operations are subject to numerous laws and regulations and we could become subject to newly enacted laws and regulations, compliance with which could increase our general and administrative costs. If we violate such laws or regulations, we could face penalties and fines or be required to curtail operations.
  • We may be subject to periodic litigation, regulatory proceedings and enforcement actions, which may adversely affect our business and financial performance.
  • Risks Related to Ownership of our Common Stock
  • Future sales of substantial amounts of our common stock in the public markets, or the perception that such sales might occur, could cause the market price of our common stock to decline significantly, even if our business is doing well.
  • The Mandatory Convertible Preferred Stock, the Depositary Shares and, if issued, the Series C Preferred Stock may adversely affect the market price of our common stock.
  • Our common stock ranks junior to our Convertible Perpetual Preferred Stock, our Mandatory Convertible Preferred Stock and, if issued, our Series C Preferred Stock with respect to dividends and amounts payable in the event of our liquidation, winding-up or dissolution.
  • We currently do not intend to pay dividends on our common stock in the foreseeable future. As a result, your ability to achieve a return on your investment may depend on appreciation in the market price of our common stock.
  • New investors in future financing transactions could gain rights, preferences and privileges senior to those of the Company’s existing stockholders.
  • The concentration of ownership by Mr. Jacobs and director designation rights may have the effect of delaying or preventing a change in control of the Company and could affect the market price of shares of our common stock.
  • Anti-takeover provisions contained in our Charter and amended and restated bylaws, as well as provisions of Delaware law, could impair a takeover attempt.
  • Our Charter provides that certain courts in the State of Delaware or the federal district courts of the United States for certain types of lawsuits is the sole and exclusive forum for substantially all disputes between us and our stockholders, which could limit our stockholders’ ability to obtain a favorable judicial forum for disputes with us or our directors, officers or employees.

Legal proceedings

For information related to our legal proceedings, refer to Note 11 – Commitments and Contingencies of Item 8 of Part II, “Financial Statements and Supplementary Data” of this Annual Report.

The opening of Item 3, Legal Proceedings.4

Sources

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