FOXO Technologies Inc. Files 2023 Annual Report

TL;DR

FOXO Tech filed its 2023 10-K. All systems go for investors to check the financials.

AI Summary

FOXO Technologies Inc. filed its 2023 annual report on Form 10-K on June 6, 2024. The company, formerly known as Delwinds Insurance Acquisition Corp., is incorporated in Delaware and headquartered in Minneapolis, MN. Its principal executive offices are located at 729 N. Washington Ave., Suite 600, Minneapolis, MN 55401. The filing covers the fiscal year ending December 31, 2023.

Why It Matters

This 10-K filing provides a comprehensive overview of FOXO Technologies Inc.'s financial performance, business operations, and risk factors for the fiscal year 2023, which is crucial for investors to assess the company's current standing and future prospects.

Risk Assessment

Risk Level: medium — As a publicly traded company filing an annual report, there are inherent risks associated with its business operations, financial performance, and market conditions that are detailed within the filing.

Key Players & Entities

• FOXO TECHNOLOGIES INC. (company) — Registrant
• Delwinds Insurance Acquisition Corp. (company) — Former company name
• 20231231 (date) — Fiscal year end
• 20240606 (date) — Filing date
• 729 N. Washington Ave., Suite 600 Minneapolis, MN 55401 (address) — Principal executive offices
• 001-39783 (dollar_amount) — Commission file number

FAQ

Key Financial Figures

• $0.0001 — stered Class A Common Stock, par value $0.0001 per share FOXO NYSE American Warrants,
• $115.00 — r one share of Class A Common Stock for $115.00 per share FOXO WS NYSE American Indic

Filing Documents

• ea0206840-10k_foxotech.htm (10-K) — 2032KB
• ea020684001ex23-7_foxotech.htm (EX-23.7) — 2KB
• ea020684001ex31-1_foxotech.htm (EX-31.1) — 10KB
• ea020684001ex31-2_foxotech.htm (EX-31.2) — 10KB
• ea020684001ex32-1_foxotech.htm (EX-32.1) — 5KB
• ea020684001ex97-1_foxotech.htm (EX-97.1) — 30KB
• 0001213900-24-050377.txt ( ) — 9245KB
• foxo-20231231.xsd (EX-101.SCH) — 93KB
• foxo-20231231_cal.xml (EX-101.CAL) — 50KB
• foxo-20231231_def.xml (EX-101.DEF) — 457KB
• foxo-20231231_lab.xml (EX-101.LAB) — 778KB
• foxo-20231231_pre.xml (EX-101.PRE) — 458KB
• ea0206840-10k_foxotech_htm.xml (XML) — 873KB

Business

Business 1 Item 1A.

Risk Factors

Risk Factors 6 Item 1B. Unresolved Staff Comments 30 Item 1C. Cybersecurity 30 Item 2.

Properties

Properties 32 Item 3.

Legal Proceedings

Legal Proceedings 32 Item 4. Mine Safety Disclosures 34 Part II Item 5. Market for Registrant's Common Equity, Related Stockholder Matters and Issuer Purchases of Equity Securities 35 Item 6. [Reserved] 35 Item 7.

Management's Discussion and Analysis of Financial Condition and Results of Operations

Management's Discussion and Analysis of Financial Condition and Results of Operations 35 Item 8.

Financial Statements and Supplementary Data

Financial Statements and Supplementary Data 53 Item 9. Changes in and Disagreements with Accountants on Accounting and Financial Disclosure 53 Item 9A.

Controls and Procedures

Controls and Procedures 53 Item 9B. Other Information 54 Item 9C. Disclosure Regarding Foreign Jurisdictions that Prevent Inspections 54 Part III Item 10. Directors, Executive Officers and Corporate Governance 55 Item 11.

Executive Compensation

Executive Compensation 60 Item 12.

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters

Security Ownership of Certain Beneficial Owners and Management and Related Stockholder Matters 71 Item 13. Certain Relationships and Related Transactions, and Director Independence 71 Item 14. Principal Accountant Fees and Services 76 Part IV Item 15. Exhibits 77 Item 16. Form 10-K Summary 81

Signatures

Signatures 82 i SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS AND OTHER INFORMATION CONTAINED IN THIS REPORT This Annual Report on Form 10-K, or this Annual Report, and the documents incorporated herein by reference contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended (the " Securities Act "), and Section 21E of the Securities Exchange Act of 1934, as amended (the " Exchange Act "), which include, without limitation, statements regarding estimates and forecasts of financial and performance metrics, projections of market opportunity and market share, potential benefits and the commercial attractiveness to its customers of our products and services, the potential success of our marketing and expansion strategies, including with respect to stockholder value and other aspects of our business identified in this Annual Report, as well as other reports that we file from time to time with the Securities and Exchange Commission. Any statements about our business, financial results, financial condition and operations contained in this Annual Report that are not statements of historical fact may be deemed to be forward- looking statements. These forward-looking and other factors. Without limiting the foregoing, the words "believes," "anticipates," "expects," "intends," "plans," "projects," or similar expressions are intended to identify forward-looking statements. We undertake no obligation to update publicly any forward-looking statements for any reason, except as required by law, even as new information becomes available or other events occur in the future. Our actual results could differ materially from those expressed or implied by these forward-looking statements as a result of various factors, including the risk factors described in Part I., Item 1A, "Risk Factor

Business

Item 1. Business Company Overview FOXO is focused on commercializing scientific discoveries in health and longevity. A pivotal moment in the field of longevity science came with the discovery that epigenetics could be used to develop measures of health, including biological aging, according to an article published in the scientific journal, Nature , in 2014. In recent years, we and other scientists have extended these findings to assess tobacco, alcohol, blood cell composition, and other health measures based on discovered epigenetic biomarkers. To that end, FOXO is dedicated to research and development in order to provide data-driven insights based on the numerous health measures that can be determined through this unique dimension of biology and used to foster optimal health and longevity for both individuals and organizations. We believe there is value in what these biomarkers will be able to provide to the world. Current testing options can be inaccurate, piecemeal, and often require obtaining a blood sample. Epigenetic biomarkers may pave the path for a fully comprehensive, at-home, low-cost test that could, with other existing testing, offer a much easier, more detailed sense of one's health. At the same time, we believe there exists a significant bottleneck in scientific research and product development using epigenetic data. Due to the complexity of the data, many scientists are unaware of how to properly process such data or take full advantage of the available tools. With our experience in bringing to market new tools (both software and hardware) and know-how (our Bioinformatics Services and analytic consulting), we believe we are well-positioned to help reduce barriers in advancing epigenetic research and the development of epigenetic-based products. Thus, we have chosen strategically to extend our expertise in epigenetic data processing and analysis to outside parties in an effort to further accelerate new discoveries. This work not only allows us t

View Full Filing

View this 10-K filing on SEC EDGAR