RXO, Inc.

Company overview

RXO is a brokered transportation platform built on advanced technology and an asset-light business model. The largest component of the business is core truck brokerage, complemented by asset-light managed transportation and last-mile services.

Core businesses and services

• Truck brokerage (core): Acts as an intermediary between shippers and independent carriers, using RXO’s digital platform to match capacity with demand. Services are offered on contract or spot terms and aim to provide real-time visibility, broad truckload capacity access, and optimized pricing and service delivery.
• Asset-light managed transportation: A solution for shippers outsourcing freight transportation to improve reliability, visibility, and cost control. Services include custom load planning and procurement, performance monitoring, engineering and data analytics, and a control tower for continuous improvement and door-to-door visibility. These services cross-sell with truck brokerage and last mile and include expedited procurement and related offerings.
• Freight forwarding and related services: Facilitation of ocean and air transportation, customs brokerage, and domestic services, including middle mile operations.
• Last mile: Asset-light delivery of consumer shipments by qualified independent contractors. RXO is the largest provider of outsourced last-mile transportation for heavy goods in the U.S., positioned within 125 miles of the vast majority of the U.S. population and serving omnichannel/e-commerce retailers and direct-to-consumer manufacturers.
• Other capabilities: Transportation and logistics solutions such as expedited services (including digital procurement) and warehousing-related offerings, including those added through the Coyote acquisition.

Digital platform and technology

• RXO Connect® digital brokerage platform: A cloud-based platform that includes Freight Optimizer, a mobile app, APIs, self-service dashboards, and real-time transaction and tracking capabilities. Key features:
  • Real-time visibility into supply and demand to capture share and support transportation management.
  • Competitive-rate pricing through user-friendly interfaces and pricing technology.
  • Dynamic pricing using machine learning to generate market intelligence from load-matching data.
  • Automated, scalable processes to increase productivity and handle higher volume without proportional expense growth.

Market position and customers

RXO serves customers ranging from small businesses to Fortune 100 companies across multiple verticals, including retail and e-commerce, food and beverage, industrial and manufacturing, logistics and transportation, and automotive.

Customer concentration (as of 2025):

• Top 20 customers: ~37% of revenue
• Top 5 customers: ~23% of revenue
• Largest customer: approximately $653 million, or 11.4% of total revenue

Acquisitions and growth

• Coyote acquisition: On September 16, 2024, RXO acquired the technology-driven asset-light truckload freight brokerage business Coyote, including certain U.K. haulage, dedicated transport, and warehousing assets from UPS and its subsidiaries. The purchase price was $1.038 billion in cash, subject to customary adjustments; an additional $10 million was paid in the first quarter of 2025 for working capital and other post-closing adjustments.

People and workforce

As of December 31, 2025:

• Total team members: 9,218
• Regular employees: 6,906 (75% of total)
  • Of regular employees: 36% in hourly roles; 64% salaried
  • 36% female
• Temporary workers: 2,312 (25% of total)

Corporate presence

RXO’s common stock trades on the New York Stock Exchange under the ticker symbol RXO. Trading began on November 1, 2022.

Seasonality

Volumes are typically higher in the fourth quarter due to peak-season demand in consumer and transportation sectors.