FOXO Technologies CEO Seamus Lagan provides mid-year update to shareholders

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โดย GlobeNewswire·Read original
Summary · why it matters

FOXO Technologies CEO Seamus Lagan issued a mid-year update to shareholders, highlighting first-half 2026 achievements and growth plans. The company reported net revenues of approximately $5.1 million for the first quarter of 2026, up from $3.2 million a year earlier, and narrowed its loss from operations to $0.3 million from $1.5 million. FOXO resolved several legacy liabilities, including exchanging about $7.8 million in stated value of Series A Convertible Preferred Stock into non-convertible debt to reduce potential dilution, and entered an agreement with former CEO Jon Sabes to license its epigenetics intellectual property for a 3% royalty on net revenues up to $1.3 million. The company is considering an uplisting to NYSE American or another exchange before year-end and is evaluating acquisitions, including one that could add over $10 million in annual revenues to its Vector BioSource subsidiary. Myrtle Recovery Centers is operating at near full capacity with a 92% occupancy rate and plans to add two beds, while Scott County Community Hospital continues to generate approximately 80% or more of FOXO's revenue.

Impact on stocks 1

Biotech & Genomic Medicine▲ · 1 stocks
FOXO Technologies Inc.
FOXO
▲ PositiveCapitalrelevance

Revenue growth, narrowed loss, reduced dilution, and potential uplisting and acquisition.

Off-coverage companies 3

Scott County Community Hospital, Inc.Private▲ Positive
Demandrelevance

Continues to generate approximately 80% or more of FOXO's revenue.

Myrtle Recovery Centers, Inc.Private▲ Positive
Demandrelevance

Operating at near full capacity with 92% occupancy and plans to add beds.

Vector BioSource, Inc.Private▲ Positive
Capitalrelevance

Evaluating acquisition that could add over $10 million in annual revenues.

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