Quarterly ResultJul 6, 2026, 04:12 PM
FOXO Q1 Revenue $5.1M, Reduces Loss, Resolves Legacy Issues
AI Summary
FOXO Technologies Inc. announced a mid-year update, reporting Q1 2026 net revenues of approximately $5.1 million, a significant increase from $3.2 million in Q1 2025. The company also reduced its loss from operations to $0.3 million from $1.5 million in the prior year's comparable quarter. FOXO addressed several corporate-level issues, including a 1:3,000 reverse stock split, exchanging $7.8 million in preferred stock for debt, and a licensing agreement for its epigenetics technology. The company is also considering uplisting its Class A common stock to a recognized exchange by the end of 2026 and is evaluating a significant acquisition for its Vector BioSource subsidiary.
Key Highlights
- Reported net revenues of approximately $5.1 million for Q1 2026, up from $3.2 million in Q1 2025.
- Reduced loss from operations to $0.3 million in Q1 2026, compared to $1.5 million in Q1 2025.
- Effected a 1:3,000 reverse stock split of Class A common stock to improve liquidity.
- Exchanged approximately $7.8 million in Series A Convertible Preferred Stock into non-convertible debt.
- Granted an exclusive license for epigenetics IP with a 3% royalty (capped at $1.3M) and a 10-year option for majority ownership of the subsidiary.
- Declared a 7.5% annual dividend for Series E Preferred Stock (2.5% cash, 5% common stock).
- Considering uplisting Class A common stock to NYSE American or another recognized exchange by end of 2026.
- Myrtle Recovery Centers requested state approval to expand from 30 to 32 inpatient beds, with 92% occupancy.
Price Impact
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