FOXO Technologies Inc. reported financial results for the quarter ended March 31, 2024, with total revenue at $7, a decrease from $13 in the same period the previous year. The company experienced a net loss of $1,504, an improvement from a net loss of $7,639 in the prior year's quarter. The reduced net loss was primarily due to a decrease in operating expenses, which fell from $7,405 to $1,186, driven by lower research and development costs, management contingent share plan expenses, and selling, general and administrative expenses. Non-operating expenses increased slightly due to higher interest expenses. The company also recognized a deemed dividend of $656 related to the extension of certain warrants. FOXO Technologies continues to focus on commercializing epigenetic biomarker technology and has paused sales of...Show More

FOXO Technologies Inc. reported financial results for the quarter ended March 31, 2024, with total revenue at $7, a decrease from $13 in the same period the previous year. The company experienced a net loss of $1,504, an improvement from a net loss of $7,639 in the prior year's quarter. The reduced net loss was primarily due to a decrease in operating expenses, which fell from $7,405 to $1,186, driven by lower research and development costs, management contingent share plan expenses, and selling, general and administrative expenses. Non-operating expenses increased slightly due to higher interest expenses. The company also recognized a deemed dividend of $656 related to the extension of certain warrants. FOXO Technologies continues to focus on commercializing epigenetic biomarker technology and has paused sales of new life insurance products to conserve cash. The company's liquidity position remains a concern, with cash and cash equivalents of $3 as of March 31, 2024, and ongoing efforts to secure additional funding. The company's future plans include pursuing strategic acquisitions, such as the proposed acquisition of Rennova Community Health, Inc., which is expected to provide positive operating cash flows, although there is no assurance of the transaction's completion or success.