Longevity Health Holdings, Inc. SEC 10-K Report

Longevity Health Holdings, Inc., a company dedicated to promoting longevity and healthy aging through regenerative bio-aesthetics, has released its annual Form 10-K report. The report provides a comprehensive overview of the company's financial performance, business operations, strategic initiatives, and the challenges it faces in the competitive cosmetics industry.

Financial Highlights

• Net Sales: $0.05 million, reflecting the launch of the first five cosmetic skincare products in 2024.
• Gross Profit: $0.04 million, indicating a 100% gross profit margin on net sales.
• Loss from Operations: $(5.00) million, a decrease from the previous year's loss, driven by reduced research and development expenses.
• Net Loss: $(10.37) million, improved from the prior year due to cost reductions and restructuring activities.
• Net Loss Per Common Share: $(0.49), reflecting the impact of continued losses and restructuring efforts.

Business Highlights

• Business Overview: Longevity Health Holdings, Inc. focuses on longevity and healthy aging through regenerative bio-aesthetics. The company offers two main cosmetic product lines, Carmell SecretomeTM and Elevai ExosomesTM, which support skin and hair health.
• Product Portfolio: The Carmell SecretomeTM line includes products like Regenerative Elixir and Brightening Glow, while the Elevai ExosomesTM line features products such as Elevai EmpowerTM and Elevai EnfinityTM. These products are designed for both retail consumers and professional care providers.
• Recent Developments: The company completed the Elevai Acquisition in January 2025, acquiring assets related to cosmetic skincare and haircare, which had net sales of approximately $2,500,000 for the year ended December 31, 2024.
• New Product Launches: In 2025, Longevity Health Holdings plans to launch several new products, including the Rapid Recovery Crème, Iconic Rise & Shine, and Body Velvet, expanding their skincare and haircare offerings.
• Future Outlook: The company is focusing on the commercialization of its cosmetic products and expects to grow revenue from the Elevai product line. They are also exploring out-licensing opportunities to enhance liquidity.
• Operational Strategy: The company sells its products through business-to-business, direct-to-consumer, and distributor sales channels, optimizing sales reach and strategy. They focus on physician-dispensed markets, leveraging a direct sales force to reach medical professionals.
• Regulatory Compliance: Longevity Health Holdings adheres to various federal, state, and international regulations for cosmetics, ensuring product safety and compliance with labeling and advertising standards.
• Supply Chain Management: The company collaborates with suppliers to meet design and quality criteria, actively managing the supply chain to prevent disruptions and optimize operations as product sales grow.
• Environmental Compliance: The company maintains policies to monitor and control environmental, health, and safety risks, ensuring compliance with applicable regulations without significant impact on capital expenditures or competitive position.

Strategic Initiatives

• Strategic Realignment: The company has focused on strategic realignment by refocusing its research and development efforts on cosmetic skincare products with near-term commercial potential, ceasing clinical studies of product candidates that would take more than a year to commercialize, and exploring out-licensing certain research and development programs to enhance liquidity.
• Elevai Acquisition: The company completed the acquisition of Elevai Skincare's operating assets to expand its product offerings in the skincare and haircare markets.
• Capital Management: The company closed a private placement on January 2, 2025, resulting in gross proceeds of $1,851,849, and issued common stock and warrants as part of this transaction. The company also repaid promissory notes through the issuance of common stock and reduced operating expenses by terminating certain executives and leases. Furthermore, the company disposed of AxoBio, which included the cancellation of $8,000,000 in notes payable and termination of earnout obligations, to streamline operations and improve financial stability.
• Future Outlook: The company plans to continue its focus on cosmetic skincare and haircare products with near-term commercial potential and aims to grow revenue from the Elevai Skincare acquisition. It is also exploring additional capital raising opportunities and out-licensing of certain research and development programs to enhance liquidity. The company is committed to reducing operating expenses and improving its financial position to address the substantial doubt about its ability to continue as a going concern.

Challenges and Risks

• Commercialization Challenges: The company faces challenges in commercializing its products, particularly in a highly competitive cosmetics industry. The recent acquisition of Elevai ExosomesTM products and the launch of new skincare products in 2024 and 2025 present both opportunities and risks, including the need for successful market acceptance and the ability to manage supply chain and manufacturing processes effectively.
• Risk Factors: The company faces several significant risks, including:
  • Limited experience as a commercial company, which may impact the successful marketing and sale of cosmetic products.
  • Intense competition in the cosmetics industry, with larger companies having greater resources and brand recognition.
  • Potential quality issues with products that could harm brand reputation and financial performance.
  • Regulatory risks, including compliance with new laws such as the MoCRA, which imposes new requirements on cosmetic manufacturers.
  • Financial risks, including the need for substantial additional capital to support growth plans and the risk of being delisted from Nasdaq due to non-compliance with listing requirements.
  • Operational risks related to the reliance on third-party suppliers and manufacturers, which could impact the ability to produce and distribute products.
  • Intellectual property risks, including the potential inability to protect proprietary technology and the risk of infringing on third-party rights.
  • Economic risks, including the impact of geopolitical tensions, inflation, and potential recessions on business operations.
• Management's Discussion and Analysis: Management has identified the need for substantial additional funding to support ongoing and planned activities, particularly the commercialization of cosmetic products. The company plans to raise additional capital through equity or debt financings. Management also acknowledges the risk of litigation related to intellectual property and other business matters, which could divert resources and impact financial performance.
• Market Risks: The company is exposed to market risks, including fluctuations in interest rates and economic conditions that could impact borrowing costs and liquidity. The potential for increased competition and changes in consumer preferences also pose risks to market share and profitability.

SEC Filing: Longevity Health Holdings, Inc. [ CTCX ] - 10-K - Mar. 31, 2025