Total Revenue

-6.5% YoY (declined from $14.44M in Q1 2024 to $13.508M in Q1 2025)

Total Revenue declined as the company experienced challenges from phasing out legacy systems and transitioning customers to new applications, indicating the pressure from strategic shifts and market conditions impacting recurring service revenues. " "

Business Segments

Software: $3.517M; Services & Other: $9.991M (with Professional Consulting at $4.081M)

Segment performance shows that while software product sales and professional consulting within services remained material, the overall decline in revenue suggests that the challenges in customer migration and integration continue to affect QXO’s established business lines. " "

Operating Income

Went from an operating profit of $227,686K in Q1 2024 to an operating loss of $39,286K in Q1 2025

Operating income deteriorated dramatically due to substantial integration, restructuring, and higher SG&A expenses following major strategic actions (notably the Beacon acquisition), which outweighed the revenue streams and pressured operating margins. " "

Net Income

Dropped sharply from $138,087K in Q1 2024 to $8,755K in Q1 2025

Net Income was severely impacted by the combination of lower revenue, increased operating and financing costs (including higher interest expenses), and strategic realignments that burdened profitability compared to the previous period’s strong performance. " "

Earnings per Share (EPS)

Declined from $0.03 in Q1 2024 to -$0.03 in Q1 2025

EPS faced significant dilution due to factors like preferred stock dividends, an increased weighted-average share count following a reverse stock split and additional equity issuances, which together reduced the net income attributable per share. " "

Liquidity (Ending Cash)

Remained robust at approximately $5,085M in Q1 2025, nearly unchanged from Q4 2024

Liquidity stayed strong as a result of substantial equity financing in prior periods that built a large cash reserve, with operating activities still providing a healthy cash inflow despite offsetting investing and financing outflows. "