Ethos Technologies (LIFE) Earnings: Q3 2026 Results

The quarter ended September 30, 2026 and Ethos Technologies published the results on November 2, 2026. Revenue and diluted EPS are shown against Q3 2025, the same quarter a year earlier, which takes seasonal swings out of the comparison. Ethos Technologies reports EPS two ways: GAAP, under the accounting rules every US filer follows, and non-GAAP, which leaves out items the company considers outside its operating results. The release reconciles the two, and when they diverge, the reconciliation says why.

• Ethos went public on Nasdaq in January 2026. Its Q3 2025 per-share figures are from before the IPO, when its preferred stock was still outstanding.
• Ethos books the first-year commission and its estimate of future renewal commissions when a policy is activated, and later adjusts revenue as its persistency estimates change.

Source: Ethos Q3 2026 results, November 2, 2026. Also in the Form 10-Q for the quarter ended September 30, 2026. Figures as reported; checked against the release on November 10, 2026.

How Ethos Technologies splits revenue in its own release, under its own labels, for Q3 2026 against Q3 2025. Indented lines are parts of the line above them.

• Ethos Technologies's Direct channel revenue revenue was $119 million in Q3 2026, up 112% from $56.1 million in Q3 2025, 51% of total revenue.
• Ethos Technologies's Third-party channel revenue revenue was $116 million in Q3 2026, up 209% from $37.7 million in Q3 2025, 49% of total revenue.

Segment lines are the figures writers cite most often, because they show where the growth in a quarter came from. Companies redraw their segments from time to time and restate the prior year to match, so a year-ago figure here can differ from the one printed a year ago. When that has happened, the note above says so.

From the earnings release

The first two quotes are Ethos's outlook for Q4 2026, the last two for the full year 2026.

In its Q3 2026 release, Ethos Technologies said:

“Total Revenue: Between $220 million and $224 million, representing a 102% increase year-over-year at the midpoint”

“Adjusted EBITDA: Between $30 million and $32 million”

“Total Revenue: Between $838 million and $842 million, representing a 117% increase year-over-year at the midpoint”

“Adjusted EBITDA: Between $134 million and $136 million”

Source: Ethos Q3 2026 release, Nov 2, 2026.

This is the company's own guidance as of Nov 2, 2026, quoted as given. Walnut does not make forecasts of its own. Analyst estimates for the coming quarters are on the LIFE forecast page.

Revenue and diluted EPS for the last 5 quarters. Each date links to that quarter's release.

GAAP revenue and diluted EPS, each as first reported in that quarter's release. Ethos was private in Q3 2025, so that row is the comparison column of its Q3 2026 release. The Q1 2026 loss reflects stock-based compensation recognized at the IPO.

We do not hold a confirmed date for Ethos Technologies's next report. Companies post the date on their investor relations site a few weeks ahead, usually with the time of the conference call.

Each quarter keeps its own page with the figures as reported, so a link to one stays pointed at the same numbers after the next report.

• Q3 2026 (this page), reported Nov 2, 2026

Ethos Technologies sells life insurance online on behalf of insurance carriers and earns commissions, which are all of its revenue. Revenue was $235.2 million in Q3 2026, up 151% from $93.8 million. The direct channel, consumers who come to Ethos itself, brought in $118.8 million, up 112%. The third-party channel, independent agencies, agents and fintech partners selling through Ethos's platform, brought in $116.4 million, up 209%. (Ethos Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 2, 2026; Ethos Technologies Form 10-Q for the quarter ended September 30, 2026, Nov 4, 2026)

Ethos's growth came from volume. It activated 142,111 new policies in the quarter, up 189% from 49,220. Average Revenue per Unit fell 13% to $1,655 from $1,906, which Ethos attributed to a channel mix that skewed toward the third-party channel. That channel rose to 49% of revenue from 40% a year earlier. (Ethos Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 2, 2026; Ethos Technologies Form 10-Q for the quarter ended September 30, 2026, Nov 4, 2026)

Ethos depends on a few carriers. Its top three, Ameritas, Banner Life (formerly Legal & General America) and TruStage, represented at least 87% of total revenue, and the 10-Q shows one carrier at 54% of Q3 2026 revenue and another at 31%. In 2025, three agency relationships generated about 31% of revenue. (Ethos Technologies Form 10-Q for the quarter ended September 30, 2026, Nov 4, 2026)

Ethos recognizes revenue for a policy when it is activated, including the first-year commission and its estimate of renewal commissions to come. Much of that is collected later: long-term commissions receivable were $315.4 million at September 30, 2026, against $224.2 million at the end of 2025. (Ethos Technologies Form 10-Q for the quarter ended September 30, 2026, Nov 4, 2026; Ethos Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 2, 2026)

Ethos Technologies earned net income of $4.7 million in Q3 2026, or $0.07 per diluted share, against $15.9 million, or $0.27, a year earlier. Non-GAAP net income was $33.8 million, or $0.49 per diluted share. The only adjustment is stock-based compensation and related taxes, which were $29.2 million in the quarter, against $272 thousand in Q3 2025. (Ethos Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 2, 2026)

Most of that stock-based compensation sits in general and administrative expense: $25.6 million of G&A's $39.2 million. Over the first nine months Ethos recorded $240.2 million of stock-based compensation and related taxes, mostly tied to its January 2026 IPO, which is why it shows a nine-month net loss of $142.2 million. (Ethos Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 2, 2026)

Sales and marketing, which includes agent payments and underwriting costs, was $169.4 million, against $57.1 million. Contribution profit, Ethos's measure of gross profit less those selling costs, was $66.4 million, a 28% margin, down from 39%. Diluted weighted-average shares were 69.2 million, against 58.2 million, and Ethos authorized a buyback of up to $100 million in the quarter but had bought no shares. (Ethos Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 2, 2026)

Diluted EPS divides net income by the weighted average number of shares outstanding in the quarter, plus the shares that options and other equity awards could add. Buybacks shrink that count and lift EPS for the same profit; share issuance and stock awards enlarge it.

Ethos Technologies gives quarterly and full-year guidance in its release. For Q4 2026 it expects total revenue of $220 million to $224 million, a 102% increase at the midpoint, and Adjusted EBITDA of $30 million to $32 million. For full year 2026 it expects revenue of $838 million to $842 million, up 117% at the midpoint, and Adjusted EBITDA of $134 million to $136 million. (Ethos Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 2, 2026)

Ethos does not reconcile its Adjusted EBITDA outlook to net income, citing the variability of interest and tax items. Q3 2026 Adjusted EBITDA was $34.9 million, a 15% margin, against $18.7 million a year earlier. (Ethos Q3 2026 earnings release (Form 8-K, Exhibit 99.1), Nov 2, 2026)

A consensus figure is the average of the models published by the analysts who cover Ethos Technologies, collected by a data provider and revised up to the day of the report. A quarter that lands above it says how expectations were set as much as how the business did, and the share price on the day also reflects the guidance and the lines no consensus covers.

The consensus figures on this page are Yahoo Finance's, as pulled on the date shown. Each comes with the number of analysts behind it; the smaller that number, the more one revised estimate can move the average.

The figures below are the ones Ethos Technologies's own release and filings put weight on for Q3 2026, with the latest reported value for each.

What the quarter means for a holding is a separate question from what it reported. The case for and against owning LIFE is on is LIFE a buy or a sell?, what analysts expect next is on the LIFE forecast, and what the company does is on the Ethos Technologies (LIFE) stock page.

Every number on this page can be traced to a document Ethos Technologies published. Checking one takes a couple of minutes, and it is worth doing before you quote a figure anywhere.

• The results release is the document linked in the source line above. Companies publish it on their investor relations site at the moment results go out, and it carries the headline tables: revenue, operating income, net income and EPS for the quarter and the year-ago quarter.
• The same release is filed with the SEC as Exhibit 99.1 to a Form 8-K under Item 2.02, usually on the day of the report. The SEC copy does not change after the fact, which makes it the safer thing to link when you cite a number.
• The quarterly report (Form 10-Q) follows within a few weeks and carries the full financial statements, the segment note and management's discussion of what changed. The fourth quarter is covered by the annual report (Form 10-K) instead.
• Restated comparisons are flagged in the notes on this page. When a company redraws its segments or changes how it adjusts EPS, it restates the year-ago column, so the year-ago figure in a new release can differ from the one printed a year ago. This page always uses the comparison in the newer release, because that is the like-for-like one.

A walk-through of every line in a release, with what each one tells you, is in how to read an earnings report.