Ethos Technologies Inc. (Nasdaq: LIFE) Delivers Exceptional Growth in Q4 and Fiscal Year 2025 Record Revenue, Robust Earnings, and Strong Outlook for 2026 Key Highlights Full-Year Revenue: \$387.6 million, up 52% year-over-year Q4 Revenue: \$110.1 million, up 65% year-over-year Net Income: \$71.2 million for FY2025 (18% margin); \$24.6 million in Q4 (22% margin) Adjusted EBITDA: \$89.0 million for FY2025 (23% margin); \$25.8 million in Q4 (23% margin) Gross Profit: \$380.9 million for FY2025 (98% margin); \$108.0 million in Q4 (98% margin) Contribution Profit: \$162.0 million for FY2025 (42% margin); \$47.2 million in Q4 (43% margin) Net Income per Share (diluted): \$1.22 for FY2025, up 44% YoY; \$0.42 in Q4, up 163% YoY Cash Flow from Operations: \$36.2 million for FY2025; \$4.9 million in Q4 Cash, Equivalents & Investments: \$157.4 million as of Dec 31, 2025 Policies Activated: Over 500,000 lifetime policies; 54,714 new policies in Q4 (42% growth) Agent Ecosystem: Over 15,000 agents selling on the platform at year end Product Innovation: New launches: Accumulation Indexed Universal Life (with North American Sammons) and Cancer Insurance (with Aflac) Carrier Network: Six carriers at quarter end Detailed Financial Performance Fourth Quarter 2025 Direct Channel Revenue: \$74.2 million, up 93% YoY Third-Party Channel Revenue: \$35.9 million, up 27% YoY Gross Profit Margin: 98% Contribution Profit Margin: 43% Net Income per Share (diluted): \$0.42 (163% improvement YoY) Net Cash from Operations: \$4.9 million Full Fiscal Year 2025 Direct Channel Revenue: \$242.5 million, up 40% YoY Third-Party Channel Revenue: \$145.1 million, up 79% YoY Gross Profit Margin: 98% Contribution Profit Margin: 42% Net Income per Share (diluted): \$1.22 (44% improvement YoY) Net Cash from Operations: \$36.2 million Recent Business Developments Product Launches: Significant new offerings in Q4, including Accumulation Indexed Universal Life (with North American Sammons) and Cancer Insurance (with Aflac), potentially expanding Ethos’ addressable market. Agent Network Expansion: Over 15,000 agents active, reflecting Ethos’ growing distribution reach and platform adoption. Milestone Achieved: Activation of over 500,000 policies underscores the company’s mission to democratize access to life insurance. Carrier Network: Six carriers supporting the platform, enhancing product diversity and underwriting capacity. Financial Outlook for 2026 Q1 2026 Revenue Guidance: \$144–\$146 million (53% YoY growth at midpoint) Q1 2026 Adjusted EBITDA Guidance: \$30–\$32 million FY2026 Revenue Guidance: \$510–\$514 million (32% YoY growth at midpoint) FY2026 Adjusted EBITDA Guidance: \$99–\$103 million Note: The company cautions that actual results may differ materially due to various risk factors, including the variability of certain GAAP-related charges. Adjusted EBITDA reconciliation on a forward-looking basis is unavailable due to complexity and unpredictability of certain charges. Balance Sheet Highlights Total Assets: \$515.3 million as of December 31, 2025 Total Liabilities: \$135.5 million Stockholders’ Deficit: \$(24.1) million Redeemable Convertible Preferred Stock: \$404.0 million Ethos maintains substantial liquidity with \$91.1 million in cash and cash equivalents, and \$66.3 million in short-term investments. The company’s financial position is strengthened by significant operational cash flow and a healthy investment portfolio. Risks and Forward-Looking Statements Ethos faces risks typical of high-growth technology companies, including competition, market adoption, platform engagement, and operational complexities at scale. Potential disruptions, reputation risk, and carrier/agent retention are highlighted as material uncertainties. Shareholders should monitor Ethos’ SEC filings for updated risk disclosures; the company does not intend to update forward-looking statements except as required by law. Why This Matters to Shareholders Strong Growth: Ethos continues to deliver >50% revenue growth for three consecutive years, with robust profitability and cash generation. Such performance is likely to positively impact share value. Profitability: Significant improvements in net income and margins demonstrate earnings power and potential for future dividends or reinvestment. Guidance: Management’s optimistic outlook for 2026 suggests continued momentum, which could drive investor confidence and share price appreciation. Product & Distribution Expansion: New product launches and agent network growth may further accelerate market share gains. Risk Factors: Investors must remain aware of operational and market risks that could affect Ethos’ growth trajectory. Investor Events and Contacts Ethos will host a conference call for analysts and investors today at 1:30 p.m. PT (4:30 p.m. ET). Webcast and presentations are available at investors.ethos.com. Investor Relations Contact: Aaron Turner ([email protected]). Press Contact: Allyson Savage ([email protected]). Conclusion Ethos Technologies Inc. has reported outstanding financial results for Q4 and FY2025, with record revenue, strong margins, and robust cash flow. Continued product innovation and agent network expansion position the company for sustained growth. Investors should closely monitor developments, as these results and outlook are likely to be price sensitive and could impact share valuation significantly. Disclaimer This article is for informational purposes only and does not constitute investment advice. All financial figures are based on unaudited company reports and forward-looking statements are subject to risks and uncertainties. Investors should consult Ethos’ official filings with the SEC and seek professional advice before making any investment decisions.
