8-K: Carmell Corp Rebrands as Longevity Health Holdings, Projects $3-$4 Million in FY25 Revenue

Carmell Corporation changes its name to Longevity Health Holdings, Inc. to better reflect its business focus and growth strategy, projecting $3 to $4 million in FY25 revenues.

Summary

• Carmell Corporation has rebranded as Longevity Health Holdings, Inc., effective March 5, 2025.
• The company's stock ticker symbol will change from CTCX to XAGE, and its warrants from CTCXW to XAGEW, starting March 7, 2025.
• The rebranding reflects a focus on longevity and healthy aging, with plans for expansion into diagnostics and nutrition.
• The company acquired Elevai Skincare, Inc. in January 2025.
• Sales grew an average of 34% over the first two months of 2025 (inclusive of both Carmell and Elevai product lines) versus the same period in 2024.
• Elevai's burn rate was reduced by more than 50% after the acquisition through savings from cutting redundant overhead expenses.
• The company projects FY25 revenues of $3 to $4 million from its current product pipeline.
• New product launches are expected in the second quarter of 2025, including a hair growth serum, soapless facial cleanser, undereye creme, and VSA toning moisturizer.
• Patrick Sturgeon has been appointed as Vice Chairman of the Board, effective immediately.

Sentiment

Score: 7

Explanation: The sentiment is positive due to the rebranding, sales growth, reduction in burn rate, and new product launches. However, the forward-looking statements and associated risks temper the overall sentiment.

Positives

• The rebranding aims to better align the company's image with its business focus and growth strategy.
• The acquisition of Elevai Skincare has added a commercial product pipeline.
• Sales have grown by 34% in the first two months of 2025.
• Elevai's burn rate has been reduced by more than 50% after the acquisition.
• New product launches are planned for the second quarter of 2025.

Risks

• The forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially from expected results.
• These risks include the ability to realize the anticipated benefits of the Elevai Skincare acquisition and the risk of unknown liabilities arising after the acquisition.

Future Outlook

The company anticipates future expansion into potential new segments such as diagnostics and nutrition, based on acquisitions and strategic partnerships in addition to organic growth of its existing business. New product launches are expected in the second quarter of 2025.

Management Comments

• Mr. Rajiv Shukla, Chairman & CEO, stated, 'Our new name better reflects our business focus on longevity and healthy aging, encompassing not just bio-aesthetics but also future expansion into potential new segments such as diagnostics and nutrition. And it points to our growth strategy based on acquisitions and strategic partnerships in addition to organic growth of our existing business.'

Industry Context

The rebranding and expansion into new segments like diagnostics and nutrition align with the broader industry trend of companies focusing on longevity and healthy aging. The acquisition of Elevai Skincare is a strategic move to strengthen its position in the bio-aesthetics market.

Comparison to Industry Standards

• It is difficult to compare the company's projected revenue of $3 to $4 million to industry standards without knowing the specific market segment and competitive landscape.
• However, companies in the bio-aesthetics and skincare industry often have varying revenue models and growth rates depending on their product portfolio, distribution channels, and marketing strategies.
• Comparable companies in the regenerative medicine and bio-aesthetics space include companies like Allergan Aesthetics, Galderma, and Merz Aesthetics, but their revenue scales are significantly larger due to their established market presence and diverse product offerings.

Management Changes

Corporate Governance

Stakeholder Impact

• Shareholders will see a change in the company's ticker symbol and a potential shift in business focus.
• Employees may experience changes related to the integration of Elevai Skincare and the company's expansion into new segments.
• Customers can expect new product launches and a continued focus on bio-aesthetics and healthy aging.

Next Steps

• Commence trading under the new ticker symbols XAGE and XAGEW on March 7, 2025.
• Launch new products in the second quarter of 2025.
• Continue to execute the company's growth strategy based on acquisitions and strategic partnerships.

Key Dates