2023 Q1 Form 10-K Financial Statement

#000121390023024912 Filed on March 31, 2023

View on sec.gov

Income Statement

Concept 2023 Q1 2022 Q4 2022
Revenue $13.00K $420.0K $511.0K
YoY Change
Cost Of Revenue $13.00K $340.0K $511.0K
YoY Change -67.5% 325.83%
Gross Profit $0.00 $70.00K $167.0K
YoY Change -100.0% 39.17%
Gross Profit Margin 0.0% 16.67% 32.68%
Selling, General & Admin $6.332M $11.60M $27.20M
YoY Change 163.9% 2114.08% 1987.63%
% of Gross Profit 16571.43% 16285.03%
Research & Development $309.0K $890.0K $3.047M
YoY Change -48.59% 58.93% -37.55%
% of Gross Profit 1271.43% 1824.55%
Depreciation & Amortization $929.0K $1.330M $1.487M
YoY Change 2896.77% 4333.33% 1417.35%
% of Gross Profit 1900.0% 890.42%
Operating Expenses $7.405M $22.58M $40.33M
YoY Change 208.61% 4209.82% 2996.14%
Operating Profit -$7.392M -$22.51M -$40.17M
YoY Change 62.0% 167.23%
Interest Expense $225.0K -$25.52M $1.440M
YoY Change -88.87% -1632.87% -75.8%
% of Operating Profit
Other Income/Expense, Net $2.081M -$60.00K $5.649M
YoY Change -4262.0% -71.43% -2493.64%
Pretax Income -$7.639M -$48.07M -$95.26M
YoY Change 1926.42% -4313.23% -2149.42%
Income Tax $0.00 $0.00 $0.00
% Of Pretax Income
Net Earnings -$7.639M -$48.07M -$95.26M
YoY Change 1926.42% -4313.23% -2149.42%
Net Earnings / Revenue -58761.54% -11445.24% -18640.9%
Basic Earnings Per Share
Diluted Earnings Per Share -$0.28 -$1.75 -$3.46
COMMON SHARES
Basic Shares Outstanding 29.56M shares 31.19M shares
Diluted Shares Outstanding

Balance Sheet

Concept 2023 Q1 2022 Q4 2022
SHORT-TERM ASSETS
Cash & Short-Term Investments $2.160M $5.520M $5.520M
YoY Change 1017.26% 764.89% 764.89%
Cash & Equivalents $2.155M $5.515M $5.520M
Short-Term Investments
Other Short-Term Assets $107.0K $114.0K $5.470M
YoY Change -31.77% -51.34% 2235.01%
Inventory $1.302M $1.313M $1.310M
Prepaid Expenses $2.117M $2.686M
Receivables
Other Receivables
Total Short-Term Assets $6.276M $12.30M $12.30M
YoY Change 1692.37% 1310.22% 1309.76%
LONG-TERM ASSETS
Property, Plant & Equipment
YoY Change
Goodwill
YoY Change
Intangibles $1.863M $2.043M
YoY Change 969.63%
Long-Term Investments
YoY Change
Other Assets $1.730M $21.06M $21.06M
YoY Change -5.18%
Total Long-Term Assets $3.597M $23.10M $23.11M
YoY Change -98.21% -88.52% -88.52%
TOTAL ASSETS
Total Short-Term Assets $6.276M $12.30M $12.30M
Total Long-Term Assets $3.597M $23.10M $23.11M
Total Assets $9.873M $35.41M $35.41M
YoY Change -95.1% -82.48% -82.48%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $2.977M $3.466M $3.470M
YoY Change 49.86% 1019.93% 1021.24%
Accrued Expenses $1.212M $1.045M $1.540M
YoY Change 285.0%
Deferred Revenue
YoY Change
Short-Term Debt $0.00 $0.00 $0.00
YoY Change -100.0%
Long-Term Debt Due $3.370M $1.410M $1.410M
YoY Change
Total Short-Term Liabilities $8.585M $6.913M $6.910M
YoY Change 291.73% 2098.21% 2097.28%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $1.730M $1.730M
YoY Change
Other Long-Term Liabilities $1.320M $20.06M $20.06M
YoY Change -87.01% 65.34% 65.34%
Total Long-Term Liabilities $1.320M $21.79M $21.79M
YoY Change -87.01% 79.6% 79.6%
TOTAL LIABILITIES
Total Short-Term Liabilities $8.585M $6.913M $6.910M
Total Long-Term Liabilities $1.320M $21.79M $21.79M
Total Liabilities $9.903M $28.70M $28.70M
YoY Change -19.82% 130.58% 130.58%
SHAREHOLDERS EQUITY
Retained Earnings -$154.9M -$147.2M
YoY Change 1171.97%
Common Stock $3.000K
YoY Change 4661.9%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares 2.141M shares
Shareholders Equity -$30.00K $6.708M $6.710M
YoY Change
Total Liabilities & Shareholders Equity $9.873M $35.41M $35.41M
YoY Change -95.1% -82.48% -82.48%

Cashflow Statement

Concept 2023 Q1 2022 Q4 2022
OPERATING ACTIVITIES
Net Income -$7.639M -$48.07M -$95.26M
YoY Change 1926.42% -4313.23% -2149.42%
Depreciation, Depletion And Amortization $929.0K $1.330M $1.487M
YoY Change 2896.77% 4333.33% 1417.35%
Cash From Operating Activities -$3.360M -$5.300M -$23.76M
YoY Change 421.01% 1327.42% 2948.85%
INVESTING ACTIVITIES
Capital Expenditures $0.00 $140.0K $110.0K
YoY Change -12.5% -6.78%
Acquisitions
YoY Change
Other Investing Activities $0.00 $0.00
YoY Change
Cash From Investing Activities -$140.0K -$1.870M
YoY Change
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net -$30.56M
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 500.0K $24.29M
YoY Change
NET CHANGE
Cash From Operating Activities -$3.360M -5.300M -$23.76M
Cash From Investing Activities -140.0K -$1.870M
Cash From Financing Activities 500.0K $24.29M
Net Change In Cash -$3.360M -4.940M -$1.341M
YoY Change 1230.46%
FREE CASH FLOW
Cash From Operating Activities -$3.360M -$5.300M -$23.76M
Capital Expenditures $0.00 $140.0K $110.0K
Free Cash Flow -$3.360M -$5.440M -$23.87M
YoY Change 923.9% 2560.17%

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110000 usd
CY2021 us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
118000 usd
CY2021 us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
63000 usd
CY2022 us-gaap Payments For Software
PaymentsForSoftware
1760000 usd
CY2021 us-gaap Payments For Software
PaymentsForSoftware
124000 usd
CY2021 us-gaap Payments To Acquire Available For Sale Securities Debt
PaymentsToAcquireAvailableForSaleSecuritiesDebt
50000 usd
CY2022 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-1870000 usd
CY2021 us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-355000 usd
CY2021 us-gaap Proceeds From Related Party Debt
ProceedsFromRelatedPartyDebt
3250000 usd
CY2022 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
28000000 usd
CY2021 us-gaap Proceeds From Issuance Of Debt
ProceedsFromIssuanceOfDebt
7250000 usd
CY2022 us-gaap Payments For Repurchase Of Warrants
PaymentsForRepurchaseOfWarrants
507000 usd
CY2022 us-gaap Proceeds From Issuance Of Senior Long Term Debt
ProceedsFromIssuanceOfSeniorLongTermDebt
3458000 usd
CY2022 foxo Reverse Recapitalization Proceeds
ReverseRecapitalizationProceeds
23237000 usd
CY2022 us-gaap Proceeds From Issuance Of Common Stock
ProceedsFromIssuanceOfCommonStock
-30561000 usd
CY2022 foxo Forward Purchase Agreement Collateral Release To Meteora
ForwardPurchaseAgreementCollateralReleaseToMeteora
2362000 usd
CY2022 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
540000 usd
CY2021 us-gaap Payments Of Financing Costs
PaymentsOfFinancingCosts
107000 usd
CY2022 us-gaap Repayments Of Related Party Debt
RepaymentsOfRelatedPartyDebt
1160000 usd
CY2021 us-gaap Proceeds From Issuance Of Preferred Stock And Preference Stock
ProceedsFromIssuanceOfPreferredStockAndPreferenceStock
3750000 usd
CY2022 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
24289000 usd
CY2021 us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
14143000 usd
CY2022 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1341000 usd
CY2021 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-1267000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6856000 usd
CY2020Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
8123000 usd
CY2022Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
5515000 usd
CY2021Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
6856000 usd
CY2021 us-gaap Conversion Of Stock Amount Converted1
ConversionOfStockAmountConverted1
54000 usd
CY2021 us-gaap Transfer To Investments
TransferToInvestments
1000 usd
CY2022 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
88382000 usd
CY2022 us-gaap Debt Conversion Converted Instrument Amount1
DebtConversionConvertedInstrumentAmount1
21854000 usd
CY2022 foxo Accrued Internal Use Software
AccruedInternalUseSoftware
239000 usd
CY2022 us-gaap Interest Paid Net
InterestPaidNet
1219000 usd
CY2021 us-gaap Interest Paid Net
InterestPaidNet
1131000 usd
CY2022 us-gaap Profit Loss From Real Estate Operations
ProfitLossFromRealEstateOperations
95255000 usd
CY2022 foxo Retained Earning Appropriated
RetainedEarningAppropriated
147231000 usd
CY2022 us-gaap Adjustments To Reconcile Net Income Loss To Cash Provided By Used In Operating Activities
AdjustmentsToReconcileNetIncomeLossToCashProvidedByUsedInOperatingActivities
23760000 usd
CY2022Q4 us-gaap Cash And Cash Equivalents Fair Value Disclosure
CashAndCashEquivalentsFairValueDisclosure
513000 usd
CY2022Q1 us-gaap Convertible Debt
ConvertibleDebt
28000000 usd
CY2022Q2 us-gaap Convertible Debt
ConvertibleDebt
28000000 usd
CY2022Q4 us-gaap Other Partners Capital
OtherPartnersCapital
300000000 usd
CY2022Q4 foxo Longevity Pipeline
LongevityPipeline
576000 usd
CY2022 us-gaap Use Of Estimates
UseOfEstimates
<p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">USE OF ESTIMATES</p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p><p style="font: 10pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify">The preparation of the consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenue and expenses during the reported period. Management evaluates these estimates and judgments on an ongoing basis and bases its estimates on experience, current and expected future conditions, third-party evaluations and various other assumptions that management believes are reasonable under the circumstances. It is reasonably possible that actual experience could differ from the estimates and assumptions utilized. All revisions to accounting estimates are recognized in the period in which the estimates are revised. A description of each critical estimate is incorporated within the discussion of the related accounting policies which follow.</p><p style="font: 12pt Times New Roman, Times, Serif; margin: 0pt 0; text-align: justify"> </p>
CY2021Q4 foxo Longevity Pipeline
LongevityPipeline
75000 usd
CY2022Q4 foxo Underwriting Api
UnderwritingAPI
770000 usd
CY2021Q4 foxo Underwriting Api
UnderwritingAPI
53000 usd
CY2021 us-gaap Other Asset Impairment Charges
OtherAssetImpairmentCharges
400000 usd
CY2022 us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
100000 usd
CY2021 us-gaap Gain On Sale Of Investments
GainOnSaleOfInvestments
100000 usd
CY2022Q4 foxo Contract Assets
contractAssets
200000 usd
CY2022Q4 us-gaap Other Restricted Assets Current
OtherRestrictedAssetsCurrent
100000 usd
CY2022 foxo Other Asset
OtherAsset
100000 usd
CY2022 foxo Longevity Api
LongevityAPI
697000 usd
CY2022Q4 us-gaap Intangible Assets Current
IntangibleAssetsCurrent
2043000 usd
CY2021Q4 us-gaap Intangible Assets Current
IntangibleAssetsCurrent
191000 usd
CY2022 us-gaap Revenues
Revenues
511000 usd
CY2021 us-gaap Revenues
Revenues
120000 usd
CY2022 foxo Percenatge Of Commissions Earned
PercenatgeOfCommissionsEarned
0.80 pure
CY2022Q1 foxo Percentage Of Commission And Fee Revenues
PercentageOfCommissionAndFeeRevenues
0.15 pure
CY2022 foxo Percentage Of Commission And Fee Revenues
PercentageOfCommissionAndFeeRevenues
0.05 pure
CY2022 us-gaap Goodwill And Intangible Asset Impairment
GoodwillAndIntangibleAssetImpairment
63000 usd
CY2022Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2225000 usd
CY2022 foxo Percentage Of Coinsurance Agreement
PercentageOfCoinsuranceAgreement
1 pure
CY2021Q4 us-gaap Prepaid Insurance
PrepaidInsurance
63000 usd
CY2021Q4 us-gaap Property Plant And Equipment Gross
PropertyPlantAndEquipmentGross
2745000 usd
CY2022 us-gaap Tangible Asset Impairment Charges
TangibleAssetImpairmentCharges
1307000 usd
CY2022 foxo Senior Notes Percentage
SeniorNotesPercentage
0.15 pure
CY2022Q3 foxo Senior Notes Percentage
SeniorNotesPercentage
0.15 pure
CY2022Q3 us-gaap Investment Owned Balance Principal Amount
InvestmentOwnedBalancePrincipalAmount
3458000 usd
CY2022Q3 foxo Net Proceeds
NetProceeds
2918000 usd
CY2022Q3 us-gaap Exchange Fees
ExchangeFees
540000 usd
CY2022Q4 us-gaap Debt Instrument Interest Rate Effective Percentage
DebtInstrumentInterestRateEffectivePercentage
0.15 pure
CY2022 foxo Interest Percentage
InterestPercentage
1150 usd
CY2022Q4 us-gaap Other Long Term Debt Current
OtherLongTermDebtCurrent
1409000 usd
CY2022 us-gaap Interest And Debt Expense
InterestAndDebtExpense
130000 usd
CY2021Q1 foxo Original Issue Discount
OriginalIssueDiscount
0.125 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Percentage Of Outstanding Stock Maximum
ShareBasedCompensationArrangementByShareBasedPaymentAwardPercentageOfOutstandingStockMaximum
1.30 pure
CY2022 foxo Company Loan Description
CompanyLoanDescription
The Company loaned Delwinds $387 per month in June 2022, July 2022, and August 2022 prior to the Closing of the Business Combination.
CY2022Q4 us-gaap Related Party Transaction Due From To Related Party
RelatedPartyTransactionDueFromToRelatedParty
500000 usd
CY2022Q2 foxo Agreement Term Period
AgreementTermPeriod
P12M
CY2022Q2 foxo Exchange Fees1
ExchangeFees1
1425000 usd
CY2022 us-gaap Conversion Of Stock Shares Converted1
ConversionOfStockSharesConverted1
871256 shares
CY2022 us-gaap Other Expenses
OtherExpenses
5649000 usd
CY2022Q4 us-gaap Treasury Stock Common Shares
TreasuryStockCommonShares
80000 shares
CY2022Q4 us-gaap Common Stock No Par Value
CommonStockNoParValue
0.0001
CY2022Q4 us-gaap Excess Stock Shares Authorized
ExcessStockSharesAuthorized
510000000 shares
CY2022 us-gaap Preferred Stock Dividends Shares
PreferredStockDividendsShares
10000000 shares
CY2022Q4 us-gaap Warrants And Rights Outstanding Term
WarrantsAndRightsOutstandingTerm
P5Y
CY2022 foxo Warrants Description
WarrantsDescription
Once the warrants become exercisable, the Company may redeem the Public Warrants:  ●in whole and not in part;     ●at a price of $0.01 per warrant;     ●upon not less than 30 days’ prior written notice of redemption given after the warrants become exercisable; and  ●if, and only if, the reported last sale price of the Company’s Class A Common Stock equals or exceeds $18.00 per share for any 20 trading days within a 30-trading day period commencing once the warrants become exercisable and ending three business days before the Company sends the notice of redemption to the warrant holders. 
CY2022 us-gaap Stock Issued During Period Shares Treasury Stock Reissued
StockIssuedDuringPeriodSharesTreasuryStockReissued
300000 shares
CY2022 foxo Shares Subject To Equitable Adjustment
SharesSubjectToEquitableAdjustment
9200000 shares
CY2022 foxo Timebased Vesting Description
TimebasedVestingDescription
Each restricted share award shall be subject to three service-based vesting conditions:  a)Sixty percent (60%) of a participant’s restricted share award will become vested on the third anniversary of the Closing if the participant is still employed by the company on such date (and has been continuously employed by the company from the date of grant through such vesting date).  b)An additional twenty percent (20%) of a participant’s restricted share award will become vested on the fourth anniversary of the Closing if the participant is still employed by the company on such date (and has been continuously employed by the company from the date of grant through such vesting date).  c)The final twenty percent (20%) of a participant’s restricted share award will become vested on the fifth anniversary of the Closing if the participant is still employed by the company on such date (and has been continuously employed by the company from the date of grant through such vesting date). 
CY2021 foxo Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Values
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValues
0.59
CY2022 foxo Share Based Compensation Shares Authorized Under Stock Option Plans
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlans
2765099 shares
CY2022Q4 us-gaap Share Based Compensation Shares Authorized Under Stock Option Plans Exercise Price Range Number Of Outstanding Options
ShareBasedCompensationSharesAuthorizedUnderStockOptionPlansExercisePriceRangeNumberOfOutstandingOptions
17425 shares
CY2022 foxo Share Based Compensation Arrangement Additional Stock Options
ShareBasedCompensationArrangementAdditionalStockOptions
204181 shares
CY2022Q4 us-gaap Deferred Compensation Liability Current
DeferredCompensationLiabilityCurrent
54000 usd
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Outstanding Weighted Average Remaining Contractual Terms
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsOutstandingWeightedAverageRemainingContractualTerms
P5Y
CY2021Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
2828307 shares
CY2022 foxo Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Average Grant Date Fair Values
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAverageGrantDateFairValues
6.51
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Gross
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodGross
204181 shares
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
15.75
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableNumber
14796 shares
CY2022 us-gaap Share Based Compensation Arrangements By Share Based Payment Award Options Exercises In Period Weighted Average Exercise Price
ShareBasedCompensationArrangementsByShareBasedPaymentAwardOptionsExercisesInPeriodWeightedAverageExercisePrice
6.51
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Forfeitures And Expirations In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsForfeituresAndExpirationsInPeriod
252593 shares
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Options Forfeited Weighted Average Grant Date Fair Value
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedOptionsForfeitedWeightedAverageGrantDateFairValue
8.36
CY2022Q4 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Number Of Shares
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedNumberOfShares
2765099 shares
CY2022 foxo Sharebased Compensation Arrangement By Sharebased Payment Award Options Nonvested Weighted Averages Grant Date Fair Values
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsNonvestedWeightedAveragesGrantDateFairValues
7.02
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Outstanding Weighted Average Remaining Contractual Term2
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsOutstandingWeightedAverageRemainingContractualTerm2
P2Y9M7D
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Vested And Expected To Vest Exercisable Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsVestedAndExpectedToVestExercisableNumber
2480991 shares
CY2022Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Exercisable Weighted Average Exercise Price
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsExercisableWeightedAverageExercisePrice
6.7
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Options Exercisable Weighted Average Remaining Contractual Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardOptionsExercisableWeightedAverageRemainingContractualTerm1
P2Y8M1D
CY2022 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P3Y2M12D
CY2021 us-gaap Sharebased Compensation Arrangement By Sharebased Payment Award Fair Value Assumptions Expected Term1
SharebasedCompensationArrangementBySharebasedPaymentAwardFairValueAssumptionsExpectedTerm1
P2Y3M18D
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.70 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Volatility Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedVolatilityRate
0.943 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0138 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Risk Free Interest Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsRiskFreeInterestRate
0.0024 pure
CY2022 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2021 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Fair Value Assumptions Expected Dividend Rate
ShareBasedCompensationArrangementByShareBasedPaymentAwardFairValueAssumptionsExpectedDividendRate
0 pure
CY2022 foxo Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Values
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValues
15.75
CY2022 foxo Research And Development
ResearchAndDevelopment
110000 usd
CY2021 foxo Research And Development
ResearchAndDevelopment
-19000 usd
CY2022 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
834000 usd
CY2021 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
150000 usd
CY2022 foxo Total Equity Based Compensation Expense
TotalEquityBasedCompensationExpense
944000 usd
CY2021 foxo Total Equity Based Compensation Expense
TotalEquityBasedCompensationExpense
131000 usd
CY2022Q4 us-gaap Investment Owned Unrecognized Unrealized Depreciation
InvestmentOwnedUnrecognizedUnrealizedDepreciation
1105000 usd
CY2022 foxo Purchase Agreement
PurchaseAgreement
29135000 usd
CY2022 foxo Reset Price Percentage
ResetPricePercentage
0.925 pure
CY2022Q4 us-gaap Sale Of Stock Price Per Share
SaleOfStockPricePerShare
10
CY2022Q4 us-gaap Shares Issued Price Per Share
SharesIssuedPricePerShare
0.05
CY2022Q4 us-gaap Stock Issued During Period Shares Purchase Of Assets
StockIssuedDuringPeriodSharesPurchaseOfAssets
500000 shares
CY2022Q4 foxo Fair Value Additional Expanse
FairValueAdditionalExpanse
270000 usd
CY2022 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
4348000 shares
CY2022 us-gaap Net Income Loss
NetIncomeLoss
-95255000 usd
CY2021 us-gaap Net Income Loss
NetIncomeLoss
-38488000 usd
CY2021Q4 us-gaap Treasury Stock Preferred Shares
TreasuryStockPreferredShares
4646698 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Unissued
ClassOfWarrantOrRightUnissued
10378750 shares
CY2022Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1905853 shares
CY2021Q4 us-gaap Class Of Warrant Or Right Outstanding
ClassOfWarrantOrRightOutstanding
1905853 shares
CY2022Q4 foxo Assumed Option Shares
AssumedOptionShares
2965500 shares
CY2021Q4 foxo Assumed Option Shares
AssumedOptionShares
2965500 shares
CY2022Q4 foxo Total Antidilutive Shares
TotalAntidilutiveShares
15250103 shares
CY2021Q4 foxo Total Antidilutive Shares
TotalAntidilutiveShares
16277693 shares
CY2022Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
311000 usd
CY2021Q4 us-gaap Liabilities Fair Value Disclosure
LiabilitiesFairValueDisclosure
32203000 usd
CY2021 us-gaap Subordinated Borrowing Interest Rate
SubordinatedBorrowingInterestRate
0.52 pure
CY2021Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
10500000 usd
CY2021 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
21703000 usd
CY2021Q4 us-gaap Investments In And Advances To Affiliates At Fair Value
InvestmentsInAndAdvancesToAffiliatesAtFairValue
32203000 usd
CY2022Q4 us-gaap Unamortized Debt Issuance Expense
UnamortizedDebtIssuanceExpense
28000000 usd
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Period Increase Decrease
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityPeriodIncreaseDecrease
28180000 usd
CY2022Q4 us-gaap Convertible Notes Payable
ConvertibleNotesPayable
88383000 usd
CY2022 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Liability Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisLiabilityTransfersNet
-88383000 usd
CY2022 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
9767000 usd
CY2021 us-gaap Deferred Federal Income Tax Expense Benefit
DeferredFederalIncomeTaxExpenseBenefit
3372000 usd
CY2022 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
4054000 usd
CY2021 us-gaap Deferred State And Local Income Tax Expense Benefit
DeferredStateAndLocalIncomeTaxExpenseBenefit
1613000 usd
CY2022 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
13821000 usd
CY2021 us-gaap Deferred Federal State And Local Tax Expense Benefit
DeferredFederalStateAndLocalTaxExpenseBenefit
4985000 usd
CY2022Q4 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
13821000 usd
CY2021Q4 us-gaap Operating Loss Carryforwards Valuation Allowance
OperatingLossCarryforwardsValuationAllowance
4985000 usd
CY2022 us-gaap Current State And Local Tax Expense Benefit
CurrentStateAndLocalTaxExpenseBenefit
51334000 usd
CY2022 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
EffectiveIncomeTaxRateReconciliationAtFederalStatutoryIncomeTaxRate
0.21 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.09 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation State And Local Income Taxes
EffectiveIncomeTaxRateReconciliationStateAndLocalIncomeTaxes
0.07 pure
CY2022 foxo Effective Income Tax Rate Fair Value Adjustments On Convertible Debentures
EffectiveIncomeTaxRateFairValueAdjustmentsOnConvertibleDebentures
-0.071 pure
CY2021 foxo Effective Income Tax Rate Fair Value Adjustments On Convertible Debentures
EffectiveIncomeTaxRateFairValueAdjustmentsOnConvertibleDebentures
-0.149 pure
CY2022 foxo Forward Purchase Agreement Percent
ForwardPurchaseAgreementPercent
-0.085 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.001 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Adjustments
EffectiveIncomeTaxRateReconciliationOtherAdjustments
-0.001 pure
CY2022 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0.145 pure
CY2021 us-gaap Effective Income Tax Rate Reconciliation Other Reconciling Items Percent
EffectiveIncomeTaxRateReconciliationOtherReconcilingItemsPercent
-0.13 pure
CY2022Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
3817000 usd
CY2021Q4 us-gaap Deferred Tax Assets Tax Deferred Expense Compensation And Benefits
DeferredTaxAssetsTaxDeferredExpenseCompensationAndBenefits
38000 usd
CY2022Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
17193000 usd
CY2021Q4 us-gaap Deferred Tax Assets Operating Loss Carryforwards
DeferredTaxAssetsOperatingLossCarryforwards
7885000 usd
CY2022Q4 us-gaap Capitalized Computer Software Net
CapitalizedComputerSoftwareNet
1270000 usd
CY2022Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
7000 usd
CY2021Q4 us-gaap Deferred Tax Assets Property Plant And Equipment
DeferredTaxAssetsPropertyPlantAndEquipment
130000 usd
CY2021 foxo Deferred Tax Assests Issuance Fees On Convertible Debentures
DeferredTaxAssestsIssuanceFeesOnConvertibleDebentures
25000 usd
CY2022Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
22287000 usd
CY2021Q4 us-gaap Deferred Tax Assets Gross
DeferredTaxAssetsGross
8078000 usd
CY2022Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
21837000 usd
CY2021Q4 us-gaap Deferred Tax Assets Valuation Allowance
DeferredTaxAssetsValuationAllowance
8027000 usd
CY2022Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
450000 usd
CY2021Q4 us-gaap Deferred Tax Assets Liabilities Net
DeferredTaxAssetsLiabilitiesNet
51000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
450000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities Prepaid Expenses
DeferredTaxLiabilitiesPrepaidExpenses
51000 usd
CY2022Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
450000 usd
CY2021Q4 us-gaap Deferred Tax Liabilities
DeferredTaxLiabilities
51000 usd
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CY2022 foxo Corporate And Other
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CY2022 foxo Interest Expense Earnings
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CY2021 foxo Interest Expense Earnings
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CY2021 us-gaap Revenues
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CY2022 us-gaap Debt Instrument Frequency Of Periodic Payment
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The Company is responsible for payments up to $849 related to the agreement, half of which was paid upon contract execution during the second quarter of 2022. Remaining payments are due as follows: (i) 20% upon the enrollment of the first patient, (ii) 20% upon the enrollment of the final patient and (iii) 10% upon lab receipt of shipments for all initially planned assays. In addition to the $424 payment upon execution, the Company incurred $272 of other costs related to VECTOR. Costs associated with the clinical trial agreement are being recorded as research and development expenses in the consolidated statements of operations.
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CY2021Q4 us-gaap Common Stock Value
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CY2022Q4 us-gaap Treasury Stock Value
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CY2021Q4 us-gaap Treasury Stock Value
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CY2022Q4 foxo Common Stock Value2
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CY2021 us-gaap Cost Of Goods And Services Sold
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CY2021 foxo Management Contingent Share Plans
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CY2021 foxo Change In Fair Value Of Forward Purchase Collateral Derivative
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CY2021 foxo Forward Purchase Agreement Expenses
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CY2022 us-gaap Asset Impairment Charges
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CY2022 us-gaap Interest Income Expense After Provision For Loan Loss
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CY2021 us-gaap Stock Issued During Period Value Restricted Stock Award Gross
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CY2022 us-gaap Stock Issued During Period Value Stock Options Exercised
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CY2022 us-gaap Stock Issued During Period Value Conversion Of Units
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CY2021 foxo Vendor Share Issuance Paid In Common Stock
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CY2021 foxo Accretion Of Operating Lease Liabilities
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CY2021 foxo Recognition Of Prepaid Offering Costs Upon Election Of Fair Value Option
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CY2021 foxo Forward Purchase Agreement Collateral Release To Meteora
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CY2021 foxo Accrued Internal Use Software
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FY
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