FOXO Technologies Announces Filing of Form 10-Q for the Third Quarter 2022

MINNEAPOLIS--(BUSINESS WIRE)--
FOXO Technologies Inc. (NYSEAM: FOXO), a technology platform company whose products and services seek to address long-standing, core problems within the life insurance industry through epigenetic longevity science, today announced that the Company has filed its Form 10-Q for the third quarter ended September 30, 2022.

The company initially delayed its filing of Form 10-Q for the third quarter of 2022, which was originally expected on November 14, 2022, to review the accounting treatment of certain warrants and Series A Preferred Stock. The Company concluded the accounting treatment was appropriate and timely filed the Form 10-Q within the extension period.

“2022 has been a year full of challenges, a year both momentous and extraordinary,” said Tyler Danielson, interim CEO and Chief Technologies Officer of FOXO Technologies. “We have withstood challenging macro conditions, an interesting life insurance market as well as a market downturn. Facing the complex dynamics, FOXO has managed to build out our first release of the Longevity Report, configured an automated epigenetic testing system, and worked on integrations to our partner's systems of which we have two. We continue to focus on building a strong technical foundation. We are building this in such a way that quality, adaptability, and speed to market are our core tenants. With this strong base, we will be able to quickly adapt to our consumer's expectations of great user experience as well as work with our partners and their differing and changing technologies. All the while we continue to innovate on our technologies that support epigenetic testing and the automation of our internal systems which are helping move the science forward. As a company that is still very much a startup in many ways, we have a lot of goals we want to achieve in the near future that might require us to evolve or pivot. We continue to evaluate our internal hypotheses to know what we are building for our market is what makes our customers the most satisfied. With access to many more agents, great partnerships, and amazing technology I feel confident in the value we will provide to our shareholders.”

As a result of its delayed filing, the company has decided to forego its previously planned third quarter 2022 earnings and business update call and will instead look to host a fourth quarter 2022 earnings and business update call at a later date. The Company will communicate details when appropriate.

About FOXO Technologies Inc. (“FOXO”)

FOXO is a technology platform company focused on commercializing longevity science through products and services that serve the life insurance industry. FOXO's epigenetic technology applies AI to DNA methylation to identify molecular biomarkers of human health and aging. FOXO seeks to modernize the life insurance industry by simplifying the consumer underwriting journey with saliva-based biomarkers and enhancing life insurance’s consumer value proposition with the FOXO Longevity Report™. For more information about FOXO, visit www.foxotechnologies.com. For more information about FOXO LIFE, visit www.foxolife.com. For investor information and updates, visit https://foxotechnologies.com/investors/.

No Offer or Solicitation

This communication shall not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of such state or jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended or an exemption therefrom.

Forward-Looking Statements

This press release contains certain forward-looking statements for purposes of the “safe harbor” provisions under the United States Private Securities Litigation Reform Act of 1995. Any statements other than statements of historical fact contained herein, including statements as to future results of operations and financial position, planned products and services, business strategy and plans, objectives of management for future operations of FOXO, market size and growth opportunities, competitive position and technological and market trends, are forward-looking statements. Such forward-looking statements include, but not limited to, expectations, hopes, beliefs, intentions, plans, prospects, financial results or strategies regarding FOXO and the future held by management teams of FOXO, the future financial condition and performance of FOXO and the products and markets and expected future performance and market opportunities of FOXO. These forward-looking statements generally are identified by the words “anticipate,” “believe,” “could,” “expect,” “estimate,” “future,” “intend,” “strategy,” “may,” “might,” “strategy,” “opportunity,” “plan,” project,” “possible,” “potential,” “project,” “predict,” “scales,” “representative of,” “valuation,” “should,” “will,” “would,” “will be,” “will continue,” “will likely result,” and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties. Many factors could cause actual future events to differ materially from the forward-looking statements in this press release, including but not limited to: (i) the risk of changes in the competitive and highly regulated industries in which FOXO operates, variations in operating performance across competitors or changes in laws and regulations affecting FOXO’s business, (ii) the ability to implement FOXO’s business plans, forecasts, and other expectations, (iii) the ability to obtain financing if needed, (iv) the ability to maintain its NYSE American listing, (v) the risk that FOXO has a history of losses and may not achieve or maintain profitability in the future, (vi) potential inability of FOXO to establish or maintain relationships required to advance its goals or to achieve its commercialization and development plans, (vii) the enforceability of FOXO’s intellectual property, including its patents and the potential infringement on the intellectual property rights of others, and (viii) the risk of downturns and a changing regulatory landscape in the highly competitive biotechnology industry or in the markets or industries in which FOXO’s prospective customers operate, including the highly regulated insurance industry. The foregoing list of factors is not exhaustive. Readers should carefully consider the foregoing factors and the other risks and uncertainties discussed in the Registration Statement on Form S-4, under the heading “Risk Factors,” and other documents FOXO has filed, or will file, with the SEC. These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and FOXO assumes no obligation and do not intend to update or revise these forward-looking statements, whether as a result of new information, future events, or otherwise.

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Contacts / Investor Relations
Cody Slach, Matthew Hausch
Gateway Investor Relations

(949) 574-3860

[email protected]

Source: FOXO Technologies Inc.