STOCK TITAN

FOXO Technologies Inc. - FOXO STOCK NEWS

Welcome to our dedicated page for FOXO Technologies news (Ticker: FOXO), a resource for investors and traders seeking the latest updates and insights on FOXO Technologies stock.

FOXO Technologies Inc. (symbol: FOXO) is leading the charge in transforming the global longevity and life insurance industries through cutting-edge epigenetic technology and AI-driven solutions. Founded under the names Yousurance and Life Epigenetics, the company has redefined how we understand and measure health and aging.

FOXO’s core business revolves around commercializing longevity science by utilizing epigenetic biomarkers to assess the biological age and health status of individuals. This revolutionary approach not only impacts life insurance underwriting protocols but also engages consumers directly through an advanced platform.

With a focus on DNA methylation, FOXO leverages supervised machine learning and artificial intelligence to pinpoint molecular signs of aging and health conditions. This enables more accurate risk assessment and personalized health insights, setting new standards in the insurance sector.

Recent achievements include groundbreaking advancements in epigenetic research and the integration of AI to enhance the precision of health evaluations. The company's current projects aim to further refine these technologies and expand their application range, ensuring they remain at the forefront of innovation in their field.

Financially, FOXO Technologies Inc. is committed to sustained growth and solidifying its market presence through strategic partnerships and continual investment in research and development. Their collaborations with leading scientific institutions and industry partners underscore their commitment to excellence and innovation.

Stay updated with the latest news and developments to see how FOXO Technologies Inc. continues to shape the future of longevity and health insurance.

Rhea-AI Summary

FOXO Technologies Inc. (NYSE American: FOXO) has announced a Special Meeting of Shareholders scheduled for November 29, 2024. The meeting will address important proposals including: a potential reverse stock split ranging from 1:5 to 1:100 to maintain NYSE American listing requirements, approval for debt-to-equity conversion of approximately $1.945M, authorization for a $5M equity line of credit with ClearThink Capital Partners, and approval for issuance of shares related to a $2.5M debt funding agreement with an institutional investor. The meeting will be held virtually at 10:30 AM EST, with November 15, 2024, set as the record date for shareholder voting eligibility.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.35%
Tags
management
-
Rhea-AI Summary

FOXO Technologies Inc. (NYSE American: FOXO) has provided a shareholder update on its 2024 accomplishments and future plans. The company has completed two acquisitions expected to deliver over $20 million in revenues in 2025, with plans to reach $50 million annually within 12-24 months. FOXO has expanded its financial management capabilities and is addressing NYSE listing deficiencies.

The company's focus remains on commercializing its epigenetic technology, having generated data for over 13,000 individuals and secured a patent for AI-driven health insights. FOXO plans to launch a direct-to-consumer prognostic for improving well-being and lifespan.

Recent acquisitions include Myrtle Recovery Centers, Inc., a behavioral health facility, and Scott County Community Hospital, Inc., a critical access hospital. The company is seeking new capital to expand these businesses and launch its epigenetic technology.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.98%
Tags
none
-
Rhea-AI Summary

FOXO Technologies Inc. (NYSE American: FOXO) has completed the acquisition of two revenue-generating operations from Rennova Health, Inc. (OTC: RNVA). The acquisitions include Myrtle Recovery Centers, Inc., a behavioral health services subsidiary, and Rennova Community Health, Inc. (RCHI), owner of Scott County Community Hospital, Inc. (d/b/a Big South Fork Medical Center).

Key points:

  • Expected to generate over $20M in annual revenue, with potential to reach $50M in 24 months
  • RCHI acquisition involved $22M of intercompany Rennova debt and $100
  • Myrtle Recovery Centers is a 30-bed behavioral health facility in East Tennessee
  • Scott County Community Hospital is a critical access hospital with 2023 revenues of $18.5M and EBITDA over $6M

These acquisitions align with FOXO's strategy to improve healthcare and well-being while significantly boosting revenue.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-5.31%
Tags
Rhea-AI Summary

FOXO Technologies (NYSE American: FOXO) announced that its subsidiary, Myrtle Recovery Centers, received two full licenses from the Tennessee Department of Mental Health and Substance Abuse Services, effective August 1, 2024. These licenses authorize alcohol and drug residential treatment and non-residential opiate treatment. Acquired from Rennova Health on June 14, 2024, Myrtle Recovery Centers is a 30-bed facility offering both inpatient and outpatient services. Opened in August 2023, it has secured contracts with major health insurance companies in Tennessee.

FOXO projects annual revenues of $3-4M from this facility and plans to expand the model to other locations. CEO Mark White expressed optimism about the business's growth and mentioned an upcoming acquisition of Big South Fork Medical, pending shareholder approval and expected to close in Q3 2024. Scott County Community Hospital and Myrtle Recovery Centers reported a combined net revenue of $18.7 million and a net income of $5.2 million for the year ending December 31, 2023.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-9.7%
Tags
none
-
Rhea-AI Summary

FOXO Technologies Inc. (NYSE American: FOXO) has received a notice of non-compliance from NYSE Regulation due to reporting stockholders' deficit of ($14.9) million as of March 31, 2024, and losses from continuing operations and/or net losses in its three most recent fiscal years ended December 31, 2023. The company is now subject to procedures outlined in Section 1009 of the Company Guide and remains under conditions from previous notifications for stockholders' equity noncompliance and past due listing fee noncompliance.

Interim CEO Mark White attributed the delinquency to short-term capital allocation strategies and expressed the company's intention to present a compliance plan, highlighting recent planned acquisitions expected to generate meaningful cashflow. FOXO aims to regain compliance with NYSE American continued listing standards in the near future, though there are no guarantees. If compliance is not achieved by the respective deadlines, NYSE may initiate delisting proceedings.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-0.38%
Tags
none
-
Rhea-AI Summary

FOXO Technologies has regained compliance with SEC reporting requirements after filing its Form 10-Q for the quarter ending March 31, 2024. Interim CEO Mark White expressed confidence in timely future filings and addressing NYSE American deficiencies. FOXO is closing a transaction with Rennova Health to acquire rural hospital operations in Tennessee and has completed the Myrtle Recovery Centers transaction, securing $2.5M in additional capital. Myrtle Recovery Centers, operational since August 2023, is expected to generate $3-4M annually. The Scott County hospital acquisition awaits shareholder approval and is expected to close in Q3 2024. Combined, Myrtle Recovery Centers and Scott County Community Hospital generated unaudited net revenue of $18.7M and net income of $5.2M for the year ending December 31, 2023.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
6.39%
Tags
none
Rhea-AI Summary

FOXO Technologies has secured up to $2.8 million in Senior Notes from an institutional investor to fund the acquisition of Myrtle Recovery Centers and provide additional working capital. The acquisition, along with the planned purchase of Scott County Community Hospital, is expected to be transformative for the company, which reported combined unaudited net revenue of approximately $18.7 million and net income of $5.2 million for 2023. Interim CEO Mark White expressed optimism about the strategic fit of these acquisitions with FOXO's epigenetic and AI-based solutions. Further details are available in the Company's Form 8-K filed with the SEC.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-4.67%
Tags
-
Rhea-AI Summary

FOXO Technologies has received a non-compliance notice from the NYSE American due to overdue listing fees exceeding 180 days. The company missed the June 7, 2024 deadline for payment but has since settled the fees. FOXO's Interim CEO, Mark White, attributed the delay to short-term capital allocation strategies, including planned acquisitions expected to boost cash flow. Despite the delinquency, FOXO aims to regain compliance with NYSE standards soon. The company is now under the procedures outlined in Section 1009 of the NYSE Company Guide.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-11.07%
Tags
none
-
Rhea-AI Summary

On June 14, 2024, FOXO Technologies announced two share exchange agreements with Rennova Health to acquire healthcare operations. The deals involve Myrtle Recovery Centers and Scott County Community Hospital (doing business as Big South Fork Medical Center). Myrtle Recovery Centers will be exchanged for $500,000 in FOXO common stock, while Scott County Community Hospital will be exchanged for $20 million in convertible preferred stock. These acquisitions are expected to generate significant cash flow for FOXO, with the acquired entities reporting $18.7 million in net revenue and $5.2 million in net income for 2023. The integration aims to leverage FOXO’s epigenetic technology in community health and addiction recovery, potentially expanding market reach and improving patient outcomes.

Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
20.92%
Tags
Rhea-AI Summary
FOXO Technologies Inc. received a Notice of Non-Compliance from NYSE for failing to file its Annual Report on Form 10-K by the due date. Despite challenges, the company is committed to regaining compliance, improving financial systems, and advancing transformative transactions to drive shareholder value.
Rhea-AI Impact
Rhea-AI Sentiment
End-of-Day
-2.1%
Tags
none

FAQ

What is the current stock price of FOXO Technologies (FOXO)?

The current stock price of FOXO Technologies (FOXO) is $0.5383 as of November 22, 2024.

What is the market cap of FOXO Technologies (FOXO)?

The market cap of FOXO Technologies (FOXO) is approximately 9.4M.

What does FOXO Technologies Inc. specialize in?

FOXO Technologies Inc. specializes in applying epigenetic technology and AI to transform the life insurance industry through advanced risk assessment and consumer engagement.

How does FOXO's technology work?

FOXO uses DNA methylation and AI to identify molecular biomarkers that reveal insights into an individual's health and aging, allowing for more accurate underwriting in life insurance.

What are epigenetic biomarkers?

Epigenetic biomarkers are molecular signs found in DNA that indicate current health status and biological age, which FOXO utilizes to enhance life insurance underwriting.

How is FOXO Technologies Inc. impacting the life insurance industry?

By employing epigenetic technology and AI, FOXO is revolutionizing life insurance underwriting, making it more precise and personalized.

What are some recent achievements of FOXO Technologies Inc.?

Recent milestones include advancements in epigenetic research, development of AI-driven health assessments, and strategic partnerships to enhance their technology platform.

What is FOXO Technologies Inc.’s approach to consumer engagement?

FOXO engages consumers through a platform that provides personalized health insights based on epigenetic biomarkers, enhancing their understanding of personal health and longevity.

Who are FOXO Technologies Inc.'s partners?

FOXO collaborates with leading scientific institutions and industry partners to advance their research and technology applications in the life insurance sector.

What is DNA methylation?

DNA methylation is a biological process where methyl groups are added to DNA, affecting gene expression without altering the DNA sequence. FOXO uses this process to identify health biomarkers.

Where is FOXO Technologies Inc. headquartered?

FOXO Technologies Inc. is headquartered in Minneapolis, as indicated in their latest news release.

What is the future outlook for FOXO Technologies Inc.?

FOXO is focused on continued innovation in epigenetic technology and AI, aiming for sustained growth and expanded applications in the life insurance industry.

FOXO Technologies Inc.

NYSE:FOXO

FOXO Rankings

FOXO Stock Data

9.43M
15.38M
12%
2.26%
0.39%
Health Information Services
Services-commercial Physical & Biological Research
Link
United States of America
MINNEAPOLIS