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Ethos Technologies Inc. Class A
(NASDAQ:LIFE)
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Rating:67Neutral
Price Target:
$47.00
▲(24.64% Upside)
Action:Reiterated
Date:09/16/26
The score is driven by strong technical momentum and a highly positive latest earnings call with raised guidance and strong growth/profitability signals. These are tempered by mixed underlying financial quality—especially negative equity and a limited track record of consistent profitability/cash flow—and weak/unclear valuation signals due to a negative P/E and no dividend yield.
Positive Factors
Raised Growth Outlook
Management’s raised 2026 outlook indicates that rapid top-line expansion is expected to continue beyond the latest quarter. Sustained growth at this scale can broaden operating leverage, support continued investment in the platform, and strengthen Ethos’s position across direct and third-party distribution.
Negative Factors
Negative Shareholders’ Equity
Negative shareholders’ equity weakens the balance sheet despite the company’s low stated debt level. It reduces financial flexibility, leaves less capitalization cushion for absorbing unexpected performance pressure, and increases the importance of maintaining profitable operations and consistent cash generation.
Read all positive and negative factors
Positive Factors
Negative Factors
Raised Growth Outlook
Management’s raised 2026 outlook indicates that rapid top-line expansion is expected to continue beyond the latest quarter. Sustained growth at this scale can broaden operating leverage, support continued investment in the platform, and strengthen Ethos’s position across direct and third-party distribution.
Read all positive factors
Ethos Technologies Inc. Class A (LIFE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$2.80B
Dividend YieldN/A
Average Volume (3M)1.61M
Price to Earnings (P/E)―
Beta (1Y)4.99
Revenue Growth83.24%
EPS Growth-284.05%
CountryUS
Employees614
SectorGeneral
Sector StrengthN/A
IndustryInsurance - Brokers
Share Statistics
EPS (TTM)-2.62
Shares Outstanding41,714,066
10 Day Avg. Volume1,279,200
30 Day Avg. Volume1,607,289
Financial Highlights & Ratios
PEG Ratio0.00
Price to Book (P/B)-43.71
Price to Sales (P/S)2.72
P/FCF Ratio35.20
Enterprise Value/Market Cap0.36
Enterprise Value/Revenue1.72
Enterprise Value/Gross Profit1.77
Enterprise Value/Ebitda-11.05
Forecast
1Y Price Target
$37.50Price Target Upside-0.56% Downside
Rating ConsensusStrong Buy
Number of Analyst Covering9
EPS Forecast (FY)-2.28
Revenue Forecast (FY)$737.83M
Ethos Technologies Inc. Class A Business Overview & Revenue Model
Company Description
Ethos Technologies Inc. functions as a third-party administrator for insurance policies in various global markets, including the United States, India, and Singapore. The company offers "Ethos," a comprehensive technology platform designed to trans...
Ethos Technologies Inc. Class A Earnings Call Summary
Earnings Call Date:Aug 03, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 02, 2026
Earnings Call Sentiment Positive
The call emphasized dominant top-line acceleration (113% YoY revenue growth), strong profitability (adjusted EBITDA, contribution profit, Rule of 40 of 132%), rapid policy activations and improved marketing efficiency, alongside a healthy balance sheet and an opportunistic $100M buyback. Key near-term headwinds are mix-driven margin pressure from faster third‑party growth, a sequential ARPU decline due to product mix, and an $8M timing settlement that will reverse in the next quarter. New product initiatives (annuities) are promising but early. Overall, the positive operational and financial momentum and raised guidance materially outweigh the mix- and timing-related challenges.Positive Updates
Exceptional Top-Line Growth
Revenue of $189.6M in Q2, up 113% year-over-year; direct channel revenue $116.5M (+131% YoY); third-party channel revenue $73.1M (+90% YoY).
Negative Updates
Margin Mix Pressure from Third-Party Acceleration
Faster growth in the third-party channel (90% YoY) versus direct led to a mix shift that compressed margins; management expects third-party unit economics to be 'skinnier' than direct, contributing to flatter EBITDA in H2 despite higher revenue guidance.
Read all updates
Q2-2026 Updates
Positive
Negative
Exceptional Top-Line Growth
Revenue of $189.6M in Q2, up 113% year-over-year; direct channel revenue $116.5M (+131% YoY); third-party channel revenue $73.1M (+90% YoY).
Read all positive updates
Company Guidance
Ethos raised its full‑year 2026 outlook and provided Q3 guidance of $160–$164M in revenue (midpoint $162M, ~73% YoY) with adjusted EBITDA of $23–$25M, and full‑year 2026 guidance of $727–$731M in revenue (midpoint $729M, ~88% YoY) with adjusted EBITDA of $119–$123M (midpoint $121M); at midpoints these imply roughly a ~14.8% Q3 EBITDA margin and ~16.6% FY EBITDA margin. Management said the revisions reflect sustained top‑line acceleration and a higher revenue mix from the third‑party channel alongside ongoing strategic investments, and the board authorized a share‑repurchase program of up to $100M to be executed opportunistically under a Rule 10b5‑1 plan after the 10‑Q.Ethos Technologies Inc. Class A Financial Statement Overview
Summary
Income Statement
68
Positive
Balance Sheet
34
Negative
Cash Flow
60
Neutral
| Breakdown | TTM | Dec 2025 | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 586.53M | 387.61M | 235.00K | 353.00K | 10.39M | 0.00 |
| Gross Profit | 569.33M | 380.88M | 0.00 | -2.39M | 8.69M | -1.30M |
| EBITDA | -91.28M | 85.18M | -64.02M | -52.18M | -45.34M | -32.71M |
| Net Income | -106.42M | 71.15M | -64.02M | -50.39M | -44.28M | -32.46M |
Balance Sheet | ||||||
| Total Assets | 696.08M | 515.34M | 96.83M | 120.65M | 95.79M | 115.54M |
| Cash, Cash Equivalents and Short-Term Investments | 168.32M | 125.97M | 11.05M | 98.17M | 66.15M | 107.91M |
| Total Debt | 20.00M | 2.35M | 13.28M | 15.10M | 11.53M | 1.38M |
| Total Liabilities | 219.92M | 539.45M | 26.81M | 30.18M | 24.50M | 6.41M |
| Stockholders Equity | 476.17M | -24.12M | 70.02M | 90.66M | 71.28M | 109.13M |
Cash Flow | ||||||
| Free Cash Flow | 73.18M | 29.95M | 0.00 | -37.44M | -43.53M | -33.27M |
| Operating Cash Flow | 79.06M | 36.23M | 0.00 | -33.22M | -41.89M | -33.08M |
| Investing Cash Flow | -68.44M | 31.87M | 17.23M | -20.13M | 47.24M | -91.57M |
| Financing Cash Flow | 21.36M | -12.05M | 39.86M | 66.23M | 5.45M | 110.03M |
Ethos Technologies Inc. Class A Risk Analysis
Ethos Technologies Inc. Class A disclosed 54 risk factors in its most recent earnings report. Ethos Technologies Inc. Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 1 New Risks
1.
Risk Factor Summary Q1, 2026
Ethos Technologies Inc. Class A Peers Comparison
UnderperformOutperform
Sector (55)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
79 Outperform | $62.80B | 18.82 | 12.94% | 2.35% | 8.96% | -11.62% | |
75 Outperform | $8.45B | 11.00 | 32.55% | 1.69% | 8.23% | 23.45% | |
70 Outperform | $4.96B | 18.07 | 10.82% | 1.30% | 5.72% | 7.05% | |
69 Neutral | $11.90B | 10.17 | 19.84% | 0.81% | 5.62% | 8.87% | |
67 Neutral | $2.80B | -16.45 | -50.41% | ― | 83.24% | -284.05% | |
67 Neutral | $39.67B | 10.31 | 12.00% | 4.83% | 9.38% | 144.26% | |
55 Neutral | $6.65B | 3.83 | -15.92% | 6.20% | 10.91% | 7.18% |
* General Sector Average
LIFE
Ethos Technologies Inc. Class A
43.10
26.25
155.79%
CNO
CNO Financial
53.66
14.09
35.62%
MET
Metlife
98.82
22.14
28.87%
PRI
Primerica
274.43
15.74
6.08%
PRU
Prudential Financial
114.99
17.92
18.46%
GL
Globe Life
154.79
20.89
15.60%
Ethos Technologies Inc. Class A Corporate Events
Business Operations and StrategyRegulatory Filings and Compliance
Ethos Technologies updates ownership ahead Russell index reset
Neutral
Oct 9, 2026
Ethos Technologies Inc. disclosed updated beneficial ownership data for its Class A and Class B common stock as of September 30, 2026, ahead of the December 2026 reconstitution of the Russell indices. The filing details holdings and voting power o...
Business Operations and StrategyFinancial Disclosures
Ethos Technologies Confirms Limited Impact from TruStage Disruption
Positive
Sep 16, 2026
On September 16, 2026, Ethos Technologies Inc. clarified that a July 2026 service disruption at its carrier partner TruStage Financial Group did not compromise Ethos systems or result in data exfiltration from the company. Ethos reported that any ...
Business Operations and StrategyStock BuybackFinancial DisclosuresProduct-Related Announcements
Ethos Technologies Posts Strong Q2 Results, Authorizes Buyback
Positive
Aug 3, 2026
Ethos Technologies Inc. reported strong second-quarter 2026 results on August 3, 2026, with revenue climbing 113% year over year to $189.6 million and gross profit reaching a 98% margin. The company posted net income of $19.5 million, non-GAAP net...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.