FOXO Technologies Reports 303.98% Revenue Growth to $16.4 Million Despite Net Loss

FOXO Technologies Inc. reported significant financial developments in its recent 10-K filing for the fiscal year ending December 31, 2025. The company generated net revenues of $16.4 million, a substantial increase of 303.98% from $4.1 million in the previous year. This growth was primarily driven by the acquisitions of Myrtle Recovery Centers and Rennova Community Health, which contributed $1.6 million and $10.4 million, respectively, to the revenue increase. However, despite the revenue growth, FOXO reported a net loss attributable to the company of $12.4 million, nearly unchanged from the previous year's loss of $12.4 million, largely due to a $7 million goodwill impairment recognized in 2025.

The company underwent several strategic changes during the fiscal year, including the acquisition of Vector BioSource, which was completed on September 19, 2025. This acquisition is part of FOXO's strategy to enhance its Life Science Services segment, which generated $0.3 million in revenue for the year. The company also restructured its business segments, combining its Labs and Life segments into a single reporting segment. The operational focus has shifted towards integrating these acquisitions and expanding service offerings, particularly in behavioral health and biospecimen sourcing.

Operationally, FOXO's employee headcount stood at 192 as of March 10, 2026, with 117 full-time employees. The company has been actively expanding its healthcare services, particularly through Myrtle, which began accepting patients for substance use disorder treatment in August 2023. The company also reported a working capital deficit of $25.5 million as of December 31, 2025, indicating ongoing liquidity challenges. The company’s cash and cash equivalents increased to $207,453 from $68,268 in the previous year, but it remains reliant on securing additional capital to fund operations and growth initiatives.

Looking ahead, FOXO Technologies faces significant challenges, including the need for additional capital to sustain operations and execute its business strategy. The company has indicated that it may pursue further acquisitions and partnerships to enhance its service offerings and revenue streams. However, the ability to raise capital is uncertain, particularly given the current market conditions and the company's recent difficulties in accessing funds through its equity line of credit. The management has expressed concerns about its ability to continue as a going concern without securing additional financing, which could impact its operational capabilities and strategic objectives in the near future.