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SAN FRANCISCO - Roofing software provider Roofr announced Tuesday an integration with QXO, Inc. (NYSE:QXO), North America’s largest publicly traded distributor of roofing products. QXO, with a market capitalization of $11.6 billion, maintains a strong financial position with more cash than debt on its balance sheet.
The integration connects QXO.com with Roofr’s customer relationship management (CRM) system, giving roofing contractors access to real-time material pricing based on their individual contracts and enabling them to place orders directly through the Roofr platform.
The new connection aims to streamline workflow for contractors by reducing manual data entry and providing immediate visibility into product availability, which could help with job scheduling and proposal creation.
"This integration with QXO gives our users unprecedented access to up-to-date pricing and effortless ordering," said Richard Nelson, CEO of Roofr, according to the company’s press release.
The integration allows contractors to incorporate live QXO pricing into their proposals and send material orders directly to their QXO accounts from within the Roofr system.
Founded in 2015, Roofr provides software solutions for roofing professionals, including CRM tools, estimates, roof measurement reports, proposals, and invoicing. QXO distributes commercial and residential roofing products across North America.
The announcement comes as QXO pursues expansion in the building products distribution industry, with stated goals of reaching $50 billion in annual revenue within the next decade through acquisitions and organic growth. Analysts tracked by InvestingPro project significant revenue growth of 44% for QXO in the current fiscal year, with 13 additional exclusive insights available to subscribers.
In other recent news, QXO, Inc. has been active with several significant developments. The company recently completed its $11 billion acquisition of Beacon Roofing Supply, making it the largest publicly traded distributor of roofing and waterproofing products in the U.S. This acquisition, supported by an $830 million equity private placement, aims to enhance QXO’s position in the building products industry. Additionally, QXO has launched a $1 billion public offering of its common stock and depositary shares, with plans to use the proceeds to repay debts and support future acquisitions. The offerings are being managed by Goldman Sachs and Morgan Stanley.
Furthermore, Wolfe Research initiated coverage of QXO with an Outperform rating and a $44 price target, citing the company’s potential for superior EBITDA growth. Wolfe Research expects QXO’s EBITDA to grow at a 35% compound annual rate over the next five years, driven by operational improvements and strategic acquisitions. In another development, QXO filed a prospectus supplement with the SEC for the resale of over 67 million shares of common stock by certain stockholders. Lastly, Morgan Stanley and Goldman Sachs are leading a $4 billion junk-debt sale to facilitate the Beacon acquisition, further illustrating QXO’s aggressive expansion strategy.
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