Ethos Technologies Inc. Class A (LIFE)
NASDAQ:LIFE
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Ethos Technologies Inc. Class A
(NASDAQ:LIFE)
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Rating:58Neutral
Price Target:
$20.50
▲(26.54% Upside)
Action:N/A
Date:06/17/26
The score is anchored by improving financial results and a strongly positive, guidance-raising earnings call, but is held back by balance-sheet weakness (negative equity), historically volatile fundamentals, and currently bearish technical signals. Valuation signals are also less supportive due to the negative P/E and no dividend yield data.
Positive Factors
Revenue Growth & Scale
Ethos has demonstrated a material operational inflection with sustained top‑line expansion and large policy activation volumes. Durable revenue scale improves bargaining power with carriers, supports fixed cost absorption, and enables reinvestment into distribution and product development, strengthening long‑term growth optionality if unit economics persist.
Negative Factors
Weak Capital Position
Negative equity materially weakens financial flexibility and increases sensitivity to adverse shocks. It can limit access to low‑cost capital, force dilutive financings under stress, and constrain underwriting expansion or partnerships that require capital backing, making long‑term execution and loss absorption more challenging.
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Positive Factors
Negative Factors
Revenue Growth & Scale
Ethos has demonstrated a material operational inflection with sustained top‑line expansion and large policy activation volumes. Durable revenue scale improves bargaining power with carriers, supports fixed cost absorption, and enables reinvestment into distribution and product development, strengthening long‑term growth optionality if unit economics persist.
Read all positive factors
Ethos Technologies Inc. Class A (LIFE) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$1.23B
Dividend YieldN/A
Average Volume (3M)597.74K
Price to Earnings (P/E)―
Beta (1Y)4.37
Revenue Growth68.91%
EPS Growth-319.72%
CountryUS
Employees548
SectorFinancial
Sector Strength70
IndustryInsurance - Life
Share Statistics
EPS (TTM)-2.93
Shares Outstanding30,914,997
10 Day Avg. Volume399,459
30 Day Avg. Volume597,737
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 Cap0.75
Enterprise Value/Revenue2.32
Enterprise Value/Gross Profit2.38
Enterprise Value/Ebitda-8.13
Forecast
1Y Price Target
$26.58Price Target Upside64.09% Upside
Rating ConsensusStrong Buy
Number of Analyst Covering7
EPS Forecast (FY)-2.52
Revenue Forecast (FY)$564.90M
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:May 06, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Mar 03, 2027
Earnings Call Sentiment Positive
The call was strongly positive on core operating performance: exceptional top-line growth (Q1 revenue +104% YoY), robust direct and third-party channel expansion, healthy contribution margins, a strong Rule of 40 score, material new partnerships (Liberty Mutual) and product breadth, and sizable activated policy growth. Key negatives were a $16.5M one-time accounting adjustment tied to agent compensation/persistency estimates, very large non-cash stock-based compensation tied to IPO vesting, seasonally prudent guidance that implies sequential deceleration, and some working capital/timing considerations around commission receivables and CFOA. Management emphasized durable growth vectors and reiterated confidence in unit economics while noting conservative forward assumptions and areas needing clarification.Positive Updates
Record Revenue Growth
Q1 revenue of $193 million, representing 104% year-over-year growth and more than doubling revenue vs. prior year. Management raised full-year revenue guidance and disclosed a midpoint full-year growth expectation of ~45% year-over-year.
Negative Updates
One-Time Non-Cash Charge Related to Agent Compensation
A $16.5 million one-time non-cash charge reduced a prepaid asset balance due to updated estimates around agent compensation clawbacks and improved early-stage persistency. The adjustment increased reported agent compensation expense in the period and affects year-over-year comparability.
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Q1-2026 Updates
Positive
Negative
Record Revenue Growth
Q1 revenue of $193 million, representing 104% year-over-year growth and more than doubling revenue vs. prior year. Management raised full-year revenue guidance and disclosed a midpoint full-year growth expectation of ~45% year-over-year.
Read all positive updates
Company Guidance
Ethos raised its 2026 outlook, guiding Q2 revenue of $114–$118 million (midpoint ≈ +31% YoY) and Q2 adjusted EBITDA of $20–$22 million, and bumping full‑year revenue to $561–$565 million (midpoint ≈ +45% YoY) with adjusted EBITDA of $103–$107 million; the update embeds a revised third‑party agent compensation estimate (including a one‑time non‑cash $16.5 million reduction to prepaid assets) and implies blended contribution margins in the mid‑30% range going forward. Those targets follow an exceptional Q1 that produced $193 million of revenue (+104% YoY), $34 million of adjusted EBITDA, $59 million of contribution profit (30% contribution margin including the charge; 39% excluding it), 88,373 policies activated (average revenue per policy $2,185), cash and investments of $224 million (including $33.5 million of IPO proceeds), a $345 million commission receivable (up 19% QoQ), and operating cash flow of $31 million ($17 million excluding a $13.9 million timing benefit).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 | 396.97M | 387.61M | 235.00K | 353.00K | 10.39M | 0.00 |
| Gross Profit | 386.89M | 380.88M | 0.00 | -2.39M | 8.69M | -1.30M |
| EBITDA | -113.03M | 85.18M | -64.02M | -52.18M | -45.34M | -32.71M |
| Net Income | -125.96M | 71.15M | -64.02M | -50.39M | -44.28M | -32.46M |
Balance Sheet | ||||||
| Total Assets | 619.36M | 515.34M | 96.83M | 120.65M | 95.79M | 115.54M |
| Cash, Cash Equivalents and Short-Term Investments | 144.60M | 125.97M | 11.05M | 98.17M | 66.15M | 107.91M |
| Total Debt | 23.23M | 2.35M | 13.28M | 15.10M | 11.53M | 1.38M |
| Total Liabilities | 178.04M | 539.45M | 26.81M | 30.18M | 24.50M | 6.41M |
| Stockholders Equity | 441.32M | -24.12M | 70.02M | 90.66M | 71.28M | 109.13M |
Cash Flow | ||||||
| Free Cash Flow | 36.27M | 29.95M | 0.00 | -37.44M | -43.53M | -33.27M |
| Operating Cash Flow | 43.40M | 36.23M | 0.00 | -33.22M | -41.89M | -33.08M |
| Investing Cash Flow | -41.45M | 31.87M | 17.23M | -20.13M | 47.24M | -91.57M |
| Financing Cash Flow | 25.77M | -12.05M | 39.86M | 66.23M | 5.45M | 110.03M |
Ethos Technologies Inc. Class A Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% |
* Financial Sector Average
Performance Comparison
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.