Silversun Technologies, Inc. ( (QXO) ) has released its Q1 earnings. Here is a breakdown of the information Silversun Technologies, Inc. presented to its investors.
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Silversun Technologies, Inc. is a technology solutions and professional services company that provides software applications, consulting, and technical support to small and mid-size companies in various industries. Recently, the company has transitioned to a building products distribution company following its acquisition of Beacon Roofing Supply, Inc., making it the largest publicly traded distributor of roofing and building products in the U.S.
In its latest earnings report, Silversun Technologies, Inc. highlighted a strategic shift following the acquisition of Beacon Roofing Supply, Inc., which was completed for approximately $11 billion. This acquisition is part of the company’s strategy to become a tech-enabled leader in the building products distribution industry.
The company’s financial performance for the quarter ended March 31, 2025, showed a net income of $8.8 million, a significant increase from $138,000 in the same period last year. However, the company reported a loss from operations of $39.3 million, primarily due to increased selling, general, and administrative expenses, which rose to $44.4 million from $5.2 million in the previous year. Revenue slightly decreased to $13.5 million from $14.4 million in the prior year.
Looking ahead, Silversun Technologies, Inc. aims to achieve $50 billion in annual revenues within the next decade through organic growth and further acquisitions. The management remains focused on executing its strategy to generate value for shareholders and strengthen its position in the building products distribution market.