Hello @Ashley_Holloman have a nice welcome to the community!
Yes, Loklik’s cutters can cut foam. Those topics will help you, the first one is with the crafter and the other one with the iCraft:
DIY Project Sharing | Craft Foam Hearts Stamps
DIY Project Sharing | Leaves for autumn
For the community helping each other clearing up our doubts, it helps remarkably giving as much details as possible, such as what machine do you have, what kind of foam you want to cut, what type of cutting… feel free to let us know more about your wonders 
Please, visit the Community Guidelines📚 and make a quick search before creating a new topic to check if your subject has already been covered, thank you and I hope you feel yourself at home! 