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FOXO Technologies Inc. reported financial results for the quarter ended September 30, 2023, with a net loss of $3.66 million, a significant improvement from the $41.03 million loss in the same period last year. The company's total revenue decreased by 29% year-on-year to $10 thousand, primarily due to reduced life insurance commissions as the company ceased placing policies from its legacy agency business. Research and development expenses decreased by 49% to $283 thousand, reflecting lower employee-related expenses and professional services. The company also reported a non-operating expense decrease of 153%, mainly due to changes in the fair value of convertible debentures, warrant liability, and forward purchase derivatives. FOXO Technologies continues to focus on commercializing epigenetic biomarker technology and has launched Bioinformatics Services. However, the...Show More
FOXO Technologies Inc. reported financial results for the quarter ended September 30, 2023, with a net loss of $3.66 million, a significant improvement from the $41.03 million loss in the same period last year. The company's total revenue decreased by 29% year-on-year to $10 thousand, primarily due to reduced life insurance commissions as the company ceased placing policies from its legacy agency business. Research and development expenses decreased by 49% to $283 thousand, reflecting lower employee-related expenses and professional services. The company also reported a non-operating expense decrease of 153%, mainly due to changes in the fair value of convertible debentures, warrant liability, and forward purchase derivatives. FOXO Technologies continues to focus on commercializing epigenetic biomarker technology and has launched Bioinformatics Services. However, the company faces challenges, including a history of losses, the need for additional capital, and maintaining compliance with NYSE American listing standards. As of September 30, 2023, FOXO Technologies had cash and cash equivalents of $42 thousand, and the company's accumulated deficit stood at $172.29 million. The company's future plans include pursuing additional funding and focusing on research and development to grow its business.
FOXO Technologies Inc.公布了截至2023年9月30日的季度财务业绩，净亏损为366万美元，比去年同期的4,103万美元亏损有了显著改善。该公司的总收入同比下降29％，至1万美元，这主要是由于公司停止从其传统代理业务中投保人寿保险佣金减少。研发费用下降了49％，至28.3万美元，这反映了与员工相关的费用和专业服务的减少。该公司还报告称，营业外支出下降了153％，这主要是由于可转换债券、认股权证负债和远期购买衍生品的公允价值的变化。FOXO Technologies继续专注于表观遗传生物标志物技术的商业化，并推出了生物信息学服务。但是，该公司面临着挑战，包括亏损历史、对额外资本的需求以及维持对纽约证券交易所美国上市标准的遵守。截至2023年9月30日，FOXO Technologies的现金及现金等价物为42,000美元，该公司的累计赤字为1.7229亿美元。该公司的未来计划包括寻求额外资金和专注于研发以发展其业务。
FOXO Technologies Inc.公布了截至2023年9月30日的季度财务业绩，净亏损为366万美元，比去年同期的4,103万美元亏损有了显著改善。该公司的总收入同比下降29％，至1万美元，这主要是由于公司停止从其传统代理业务中投保人寿保险佣金减少。研发费用下降了49％，至28.3万美元，这反映了与员工相关的费用和专业服务的减少。该公司还报告称，营业外支出下降了153％，这主要是由于可转换债券、认股权证负债和远期购买衍生品的公允价值的变化。FOXO Technologies继续专注于表观遗传生物标志物技术的商业化，并推出了生物信息学服务。但是，该公司面临着挑战，包括亏损历史、对额外资本的需求以及维持对纽约证券交易所美国上市标准的遵守。截至2023年9月30日，FOXO Technologies的现金及现金等价物为42,000美元，该公司的累计赤字为1.7229亿美元。该公司的未来计划包括寻求额外资金和专注于研发以发展其业务。
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