FOXO Technologies Reports $5.2 Million Revenue Surge and Strategic Acquisitions

FOXO Technologies Inc. reported significant financial improvements in its latest quarterly filing, with net revenues reaching $5.2 million for the three months ended June 30, 2025, compared to just $27,474 in the same period last year. This surge in revenue is attributed primarily to the contributions from its recently acquired subsidiaries, Myrtle and RCHI, which generated $0.5 million and $4.7 million, respectively. For the six-month period, total revenues amounted to $8.4 million, a stark contrast to $34,654 in the prior year. The company also recorded a notable gain of $1.9 million from the extinguishment of Senior PIK Notes, which contributed to a reduced net loss of $1.1 million, down from $3.7 million in the previous year.

The company’s operating expenses increased significantly, totaling $9.4 million for the six months ended June 30, 2025, compared to $2.8 million in the same period last year. This rise was driven by the operational costs associated with the newly acquired healthcare facilities. Direct costs of revenues also saw a substantial increase, reflecting the operational scale-up following the acquisitions. Despite these higher expenses, FOXO reported an operating income of $0.6 million for the second quarter, a marked improvement from a loss of $1.6 million in the same quarter of 2024.

In terms of strategic developments, FOXO has made significant strides in expanding its healthcare segment through the acquisitions of Myrtle Recovery Centers and RCHI, which operates the Big South Fork Medical Center. These acquisitions have allowed FOXO to diversify its service offerings, including behavioral health services and critical access hospital operations. The company has also restructured its business segments, combining its Labs and Life divisions into a single Labs segment to streamline operations and focus on its epigenetic biomarker technology.

Operationally, FOXO has reported a working capital deficit of $27.3 million as of June 30, 2025, although cash and cash equivalents increased to $321,789 from $68,268 at the end of 2024. The company’s total assets rose to $50 million, up from $41.7 million, primarily due to the goodwill generated from its acquisitions. However, the company continues to face challenges, including a significant increase in interest expenses, which rose to $1.9 million for the six months ended June 30, 2025, compared to $0.8 million in the prior year.

Looking ahead, FOXO has expressed concerns regarding its ability to continue as a going concern without securing additional financing. The company is actively pursuing capital-raising initiatives to support its operations and has indicated that it may need to curtail or suspend operations if it cannot generate sufficient revenue or secure additional funding. The recent delisting proceedings initiated by NYSE American due to low stock prices further complicate its financial outlook, as the company transitions to trading on the OTC market.