Ethos Technologies Q3 revenue more than doubles on third-party channel growth
LIFE•Ethos Technologies’ Q3 revenue rose 151% year over year to $235 million, while adjusted EBITDA increased 87% and its margin narrowed to 15% from 20%. The company forecast Q4 revenue of $220 million to $224 million and authorized a $100 million share repurchase program, with no shares repurchased yet.
1. Revenue and channels
Ethos Technologies reported Q3 revenue of $235 million, up 151% year over year. Third-party channel revenue surged 209% to $116.4 million, compared with 112% growth in direct-channel revenue. New policies rose 189% to 142,111, while average revenue per unit fell 13% to $1,655 as business shifted toward the lower-revenue third-party channel.
2. Profit and outlook
Adjusted EBITDA rose 87%, but its margin narrowed to 15% from 20%. Ethos reported net income of $4.67 million and basic earnings per share of $0.07. It expects Q4 revenue of $220 million to $224 million and adjusted EBITDA of $30 million to $32 million; its full-year 2026 forecasts are revenue of $838 million to $842 million and adjusted EBITDA of $134 million to $136 million.
3. Share repurchase
Ethos authorized a $100 million share repurchase program, but had not repurchased any shares yet.
