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Longevity Health Holdings Inc. (XAGE+38.44%) has submitted its 10-K filing for the fiscal year ended December 31, 2024.
The filing details the company's focus on longevity and healthy aging, with products aimed at improving skin and hair health. The company's product lines include Carmell SecretomeTM and Elevai ExosomesTM.
For the year ended December 31, 2024, the company reported gross sales of $90,829 and net sales of $50,318. The cost of sales was $6,357, resulting in a gross profit of $43,961.
Operating expenses totaled $5,042,459, with research and development expenses decreasing to $1,054,310, and general and administrative expenses increasing to $3,715,340.
The company reported a loss from operations of $4,998,498 and a net loss of $10,368,261 for the year. The net loss from continuing operations was $10,650,464.
The company completed the Elevai Acquisition on January 16, 2025, acquiring assets related to skincare and haircare products. The acquired business had net sales of approximately $2,500,000 in 2024.
As of December 31, 2024, Longevity Health Holdings had cash of $157,139 and negative working capital of $4,921,151. The company had negative cash flows from operations of $4,388,948 for the year.
The company is exploring additional capital raising opportunities and out-licensing certain research and development programs to enhance liquidity.
In the third quarter of 2023 and the first quarter of 2024, the company reduced operating expenses by terminating certain executives and employees in non-core areas.
The company has identified substantial doubt about its ability to continue as a going concern due to its current financial condition and potential liabilities.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the Longevity Health Holdings Inc. annual 10-K report dated March 31, 2025. To report an error, please email earnings@qz.com.