FOXO Technologies completes strategic review, provides update

FOXO Technologies announces it has completed its strategic review, following recent management changes, and provided a business update on the Company’s progress and plans. Mark White, Interim CEO of FOXO Technologies, stated, “Since taking the helm just over a month ago, FOXO’s new management team has initiated a significant restructuring of the business, including rationalizing costs across the organization while settling outstanding commercial issues. In particular, we have reduced headcount expenses by approximately 65% and have begun the process of divesting certain assets within FOXO Life, the former business-to-business, agency-focused model, which is expected to further reduce our operating expenses and burn rate going forward. Most importantly, we are leveraging new artificial intelligence technologies to both enhance our efficiency, as well as cost-effectively drive our new direct-to-consumer go-to-market strategy. This includes our new subscription-based app under development that will utilize existing health and wellness analytic tools, as well as leverage AI, machine learning and epigenetic data, to enhance health, wellness, and longevity.”