FOXO TECHNOLOGIES INC. Files 10-Q for Period Ended September 30, 2023

TL;DR

<b>FOXO TECHNOLOGIES INC. filed its quarterly report (10-Q) for the period ending September 30, 2023, detailing its financial status and operations.</b>

AI Summary

FOXO TECHNOLOGIES INC. (FOXOW) filed a Quarterly Report (10-Q) with the SEC on January 19, 2024. FOXO TECHNOLOGIES INC. filed a 10-Q report for the quarterly period ended September 30, 2023. The company is incorporated in Delaware with IRS number 851050265. Its principal executive offices are located at 729 Washington Ave. N, Suite 600, Minneapolis, MN 55401. FOXO TECHNOLOGIES INC. is registered under the 1934 Act with SEC file number 001-39783. As of January 19, 2024, there were 8,946,03 shares of Class A Common Stock outstanding.

Why It Matters

For investors and stakeholders tracking FOXO TECHNOLOGIES INC., this filing contains several important signals. This filing provides investors with an update on FOXO TECHNOLOGIES INC.'s financial performance and operational status for the third quarter of 2023. The report is crucial for understanding the company's current financial health, any recent developments, and its compliance with SEC regulations.

Risk Assessment

Risk Level: low — FOXO TECHNOLOGIES INC. shows low risk based on this filing. The filing is a standard quarterly report (10-Q) and does not contain immediate, significant financial distress signals or major operational changes that would elevate the risk level.

Analyst Insight

Review the detailed financial statements and management's discussion and analysis within the 10-Q to assess FOXO TECHNOLOGIES INC.'s performance and future outlook.

Key Numbers

• 8,946,03 — Outstanding Shares (Number of Class A Common Stock shares outstanding as of January 19, 2024.)
• 001-39783 — SEC File Number (Commission File Number for FOXO TECHNOLOGIES INC.)
• 20230930 — Reporting Period End Date (The end date of the quarterly period covered by the 10-Q filing.)
• 20240119 — Filing Date (The date the 10-Q report was filed with the SEC.)

Key Players & Entities

• FOXO TECHNOLOGIES INC. (company) — Filer name and subject of the 10-Q report.
• September 30, 2023 (date) — End date of the quarterly period reported.
• Delaware (jurisdiction) — State of incorporation for FOXO TECHNOLOGIES INC.
• 851050265 (identifier) — IRS Employer Identification Number for FOXO TECHNOLOGIES INC.
• 729 Washington Ave. N, Suite 600, Minneapolis, MN 55401 (address) — Principal executive offices address.
• 001-39783 (identifier) — SEC File Number for FOXO TECHNOLOGIES INC.
• 1934 Act (regulation) — Securities Exchange Act under which the report is filed.
• January 19, 2024 (date) — Date as of which share count is provided.

FAQ

Risk Factors

• Reporting Requirements [low — regulatory]: The company must comply with Section 13 or 15(d) of the Securities Exchange Act of 1934, including filing all required reports.
• Electronic Data Submission [low — operational]: The company must submit all Interactive Data Files required by Rule 405 of Regulation S-T electronically.

Key Dates

• 2023-09-30: Quarterly Period End — Marks the end of the reporting period for the 10-Q.

Key Financial Figures

• $0.0001 — tered: Class A Common Stock, par value $0.0001 FOXO NYSE American Indicate by check

Filing Documents

• f10q0923_foxotech.htm (10-Q) — 1394KB
• f10q0923ex31-1_foxotech.htm (EX-31.1) — 8KB
• f10q0923ex31-2_foxotech.htm (EX-31.2) — 8KB
• f10q0923ex32-1_foxotech.htm (EX-32.1) — 4KB
• 0001213900-24-004925.txt (&nbsp;) — 5424KB
• foxo-20230930.xsd (EX-101.SCH) — 55KB
• foxo-20230930_cal.xml (EX-101.CAL) — 42KB
• foxo-20230930_def.xml (EX-101.DEF) — 250KB
• foxo-20230930_lab.xml (EX-101.LAB) — 468KB
• foxo-20230930_pre.xml (EX-101.PRE) — 258KB
• f10q0923_foxotech_htm.xml (XML) — 509KB

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION: 1 Item 1.

Financial Statements

Financial Statements 1 Unaudited Condensed Consolidated Balance Sheets as of September 30, 2023 and December 31, 2022 1 Unaudited Condensed Consolidated Statements of Operations for the Three and Nine Months Ended September 30, 2023 and 2022 2 Unaudited Condensed Consolidated Statements of Changes in Stockholders' Equity (Deficit) for the Three and Nine Months ended September 30, 2023 and 2022 3 Unaudited Condensed Consolidated Statements of Cash Flows for the Nine Months ended September 30, 2023 and 2022 4 Notes to Unaudited Condensed Consolidated Financial Statements 5 Item 2.

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

Management's Discussion and Analysis of Financial Condition and Results of Operations 24 Item 3.

Quantitative and Qualitative Disclosures About Market Risk

Quantitative and Qualitative Disclosures About Market Risk 43 Item 4.

Controls and Procedures

Controls and Procedures 43

- OTHER INFORMATION

PART II - OTHER INFORMATION: 44 Item 1.

Legal Proceedings

Legal Proceedings 44 Item 1A.

Risk Factors

Risk Factors 45 Item 2. Unregistered Sales of Equity Securities and Use of Proceeds 49 Item 5. Other Information 49 Item 6. Exhibits 50

SIGNATURES

SIGNATURES 51 i SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS AND OTHER INFORMATION CONTAINED IN THIS REPORT This Quarterly Report on Form 10-Q, or this 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, realization of the potential benefits of the Business Combination (including with respect to stockholder value and other aspects of our business identified in this 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 Report that are not statements of historical fact may be deemed to be forward-looking and are subject to risks, uncertainties and other factors including, without limitation, the direct and indirect effects of coronavirus disease 2019, or COVID-19, and related issues that may arise therefrom. 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

- FINANCIAL INFORMATION

PART I - FINANCIAL INFORMATION

FINANCIAL STATEMENTS

ITEM 1. FINANCIAL STATEMENTS FOXO technologies inc. and subsidiaries CONDENSED CONSOLIDATED BALANCE SHEETS (Dollars in thousands, except per share data) (Unaudited) September 30, December 31, 2023 2022 Assets Current assets Cash and cash equivalents $ 42 $ 5,515 Supplies 1,131 1,313 Prepaid expenses 1,306 2,686 Prepaid consulting fees - 2,676 Other current assets 106 114 Total current assets 2,585 12,304 Intangible assets 428 2,043 Reinsurance recoverables - 18,573 Cloud computing arrangements - 2,225 Other assets 118 263 Total assets $ 3,131 $ 35,408 Liabilities and Stockholders' (Deficit) Equity Current liabilities Accounts payable $ 4,816 $ 3,466 Related party payables 747 500 Senior PIK Notes 4,006 1,409 Accrued severance 1,528 1,045 Accrued settlement 2,300 - Accrued and other liabilities 119 493 Total current liabilities 13,516 6,913 Warrant liability 67 311 Senior PIK Notes - 1,730 Policy reserves - 18,573 Other liabilities 651 1,173 Total liabilities 14,234 28,700 Commitments and contingencies (Note 12) Stockholders' (deficit) equity Preferred stock, $0.0001 par value; 10,000,000 shares authorized, none issued or outstanding as of September 30, 2023 and December 31, 2022 - - Class A common stock, $ 0.0001 par value, 500,000,000 shares authorized, 5,916,852 and 2,966,967 issued, and 5,916,852 and 2,752,890 outstanding as of September 30, 2023 and December 31, 2022, respectively 6 3 Treasury stock, at cost, 0 and 214,077 as of September 30, 2023 and December 31, 2022, respectively - - Additional paid-in capital 161,180 153,936 Accumulated deficit ( 172,289 ) ( 147,231 ) Total stockholders' (deficit) equity ( 11,103 ) 6,708 Total liabilities and stockholders' (deficit) equity $ 3,131 $ 35,408 See accompanying Notes to Unaudited Condensed Consolidated Financial Statements 1 Foxo Technologies INc. and subsidiaries CON

View Full Filing

View this 10-Q filing on SEC EDGAR