Foxo Technologies (FOXO) Q4 2025 earnings summary

Executive summary

• Net revenues increased 304% year-over-year to $16.4 million, driven by acquisitions of Myrtle, RCHI, and Vector.

• Net loss attributable to common stockholders widened to $34.1 million from $13.5 million, mainly due to $21.7 million in deemed dividends and a $7.0 million goodwill impairment.

• The company completed three major acquisitions in 2024–2025, expanding into healthcare, behavioral health, and biospecimen sourcing.

• Significant liquidity challenges persist, with a working capital deficit of $25.5 million and a going concern warning from auditors.

• The company’s stock was delisted from NYSE American and now trades on OTC Markets.

Financial highlights

• Net revenues: $16.4 million in 2025 vs. $4.1 million in 2024 (+304%).

• Operating expenses: $26.7 million in 2025 vs. $11.8 million in 2024 (+126%).

• Net loss attributable to FOXO: $12.4 million in both 2025 and 2024.

• Net loss to common stockholders: $34.1 million in 2025 vs. $13.5 million in 2024.

• Adjusted EBITDA: $(4.0) million in 2025 vs. $(6.6) million in 2024.

• Cash and cash equivalents: $0.2 million at year-end 2025.

Outlook and guidance

• Management expects continued losses and insufficient cash flow to fund operations through 2026 without additional financing.

• The company is actively seeking new capital and strategic acquisitions to achieve positive cash flow.

• Uncertainty remains regarding the ability to access capital markets due to stock price and trading volume constraints.