QXO has begun upgrading technology across its operations as the building products distributor works toward a long-term goal of reaching $50 billion in annual revenue and more than doubling EBITDA by 2030.
The technology initiative comes as QXO rapidly expands its scale through acquisitions. Following the completion of its TopBuild acquisition on July 1, QXO became the second-largest publicly traded building products distributor in North America, giving the company a broader presence at customer job sites and a larger operating platform across which to deploy new technology.
QXO is seeking to modernize what it describes as a large and fragmented building products industry through technology and an improved customer experience. The company said it has started upgrading technology across the organization with the goal of delivering better customer service while also supporting meaningful financial growth.
The strategy is being implemented against the backdrop of significant acquisition-driven expansion. QXO completed its acquisition of Kodiak Building Partners on April 1, and Kodiak contributed $595 million of revenue during the second quarter. The company subsequently completed its TopBuild acquisition after quarter-end.
Second-quarter net sales reached $3.25 billion. QXO reported a net loss of $55 million, while adjusted net income was $130 million. Adjusted EBITDA reached $272 million, and adjusted diluted earnings per common share were $0.08.
On a reported basis, Q2 net sales increased to $3.246 billion from $1.906 billion in the prior-year quarter, while adjusted EBITDA increased to $272 million from $204 million. The periods are not directly comparable because the 2026 results include Kodiak beginning April 1, while the 2025 results include legacy Beacon Roofing Supply operations beginning with its April 29, 2025 acquisition.
QXO’s expanding footprint now includes leading positions across several categories. The company is North America’s largest distributor and installer of insulation, the second-largest distributor of roofing products, the second-largest publicly traded distributor of lumber and building materials, and the largest distributor of waterproofing products.
Management sees technology as an important part of integrating and improving this larger platform. Rather than relying exclusively on acquisitions to reach its growth objectives, QXO is combining dealmaking with organic growth and operational modernization as it works toward its $50 billion annual revenue target.
The company operates in a building products market that it estimates at approximately $800 billion, providing a large potential base for continued consolidation and organic expansion. Its strategy centers on using greater scale, technology and customer reach to capture a larger share of that market over time.
KEY QUOTE:
“Our second-quarter results reflect current market conditions and the progress we are making across the company. We have begun upgrading technology across the company to deliver best-in-class customer service and meaningful financial growth. Following the completion of the TopBuild acquisition on July 1, QXO is the second-largest publicly traded building products distributor in North America, with greater scale and a broader presence at customers’ job sites. We are focused on our plan to more than double EBITDA by 2030 and reach $50 billion in revenue within the decade.”
Brad Jacobs, Chairman and CEO of QXO
