FOXO Technologies Reports 196.6% Revenue Growth to $3.5 Million in Q3 2025

FOXO Technologies Inc. reported significant financial developments in its latest 10-Q filing for the quarter ending September 30, 2025. The company generated net revenues of $3.5 million for the third quarter, a substantial increase of 196.6% compared to $1.2 million in the same period last year. This growth was primarily driven by contributions from its healthcare segment, particularly from the acquisitions of Myrtle and RCHI, which added $0.4 million and $1.9 million, respectively, to the revenue stream. For the nine months ended September 30, 2025, total revenues reached $11.9 million, up from $1.2 million in the prior year, reflecting a notable increase of 869.5%.

Despite the revenue growth, FOXO Technologies reported a net loss attributable to the company of $1.9 million for the third quarter, slightly improved from a loss of $1.95 million in the same quarter of 2024. The nine-month net loss was $3.0 million, a significant reduction from $5.6 million in the previous year. The company attributed this improvement to increased revenues and a one-time gain of $1.9 million from the extinguishment of Senior PIK Notes, although it also faced increased interest expenses and other non-operating costs.

Strategically, FOXO Technologies has made several acquisitions to bolster its market position. The company acquired Myrtle Recovery Centers in June 2024 and Rennova Community Health, Inc. in September 2024, both of which have expanded its healthcare services. Most recently, on September 19, 2025, FOXO acquired Vector BioSource, a biospecimen sourcing provider, for $2.8 million, which included cash and preferred stock. These acquisitions are expected to enhance FOXO's capabilities in healthcare and life sciences, contributing to future revenue growth.

Operationally, FOXO Technologies has seen a rise in its customer base and engagement metrics. The healthcare segment's revenues included $3.0 million from the State of Tennessee’s Hospital Improvement Plan, which supports hospitals serving TennCare patients. The company also reported a working capital deficit of $24.5 million as of September 30, 2025, and cash and cash equivalents of $628,557, indicating ongoing liquidity challenges. The company is actively pursuing additional funding through equity and debt financing to support its operations and growth strategy.

Looking ahead, FOXO Technologies faces substantial uncertainty regarding its ability to continue as a going concern. The company has indicated that it will need to secure additional capital to fund its operations over the next twelve months. Management is focused on raising funds through various means, including private placements and strategic acquisitions, to improve its financial position and operational capabilities. The company’s future performance will depend on its ability to navigate these challenges while capitalizing on the growth opportunities presented by its recent acquisitions.