FOXO Technologies Reports $8.1 Million Net Income and $4.7 Million Revenues for Q2 2026

FOXO Technologies Inc. reported a net income of $8.1 million for the three months ended June 30, 2026, a significant turnaround from a net loss of $0.5 million during the same period in 2025. The company's net revenues for the second quarter of 2026 were $4.7 million, down 9.7% from $5.2 million in the prior year. This decline was primarily attributed to a decrease in revenues from the Tennessee Hospital Improvement Plan (THIP), which provided $0.6 million in the latest quarter compared to $2.5 million in the previous year. However, excluding THIP revenues, the company saw an increase in revenues driven by higher patient volumes, particularly in its healthcare segment, which includes Myrtle Recovery Centers and Rennova Community Health.

For the six months ending June 30, 2026, FOXO reported net revenues of $9.9 million, an increase of 17.8% from $8.4 million in the same period of 2025. The growth was supported by contributions from its recently acquired Vector BioSource, which added approximately $0.6 million in revenues. The company's operating expenses for the first half of 2026 were significantly lower at $1.4 million compared to $9.4 million in 2025, largely due to a $9.1 million reversal of expenses related to the Management Contingent Share Plan, which was resolved in May 2026.

FOXO's total assets increased to $45.9 million as of June 30, 2026, compared to $44.6 million at the end of 2025. However, the company also reported a working capital deficit of $35.9 million and total debt of $17.2 million, which has increased substantially from $7.3 million at the end of the previous year. The increase in debt was primarily due to the issuance of new promissory notes and loans, including a significant exchange of Series A Preferred Stock for senior unsecured promissory notes totaling approximately $7.8 million.

In terms of operational developments, FOXO has been actively pursuing strategic initiatives, including a recent Strategic Technology License Agreement with LongevityFP Technologies, which grants exclusive rights to commercialize its epigenetics intellectual property. The company is also planning to expand its healthcare services and is exploring acquisitions to enhance its market presence. Despite these efforts, FOXO's management has expressed concerns regarding its ability to continue as a going concern, citing the need for additional capital to fund operations and meet financial obligations.

Looking ahead, FOXO Technologies aims to secure further financing to support its growth strategy and operational needs. The company is also considering a reverse stock split to facilitate a potential listing on a senior national securities exchange, which could improve its capital structure and market visibility. However, the success of these initiatives remains contingent on market conditions and the company's ability to generate sufficient revenue and cash flow.