AI-extracted from the 10-Q filed 2026-08-05 — Q2 FY2026 (quarter ended June 30, 2026). Every figure is machine-verified against the filing text on SEC EDGAR.
Commission revenue surged 113% to $189.6M in Q2 2026 on 133% growth in activated policies, though net income of $19.5M masks significant stock-based compensation charges.
Biggest Revenue Drivers
Direct channel revenue$116.5M+131% YoY
Unit economics improvements enabled efficient capital deployment across consumer acquisition channels.
Third-party channel revenue$73.1M+90% YoY
Contributions from new and existing agencies alongside enhancements to agent portal improved conversion rates and agent productivity.
Biggest Revenue Drivers
Total revenue: $189.6M+113% YoY
Direct channel revenue$116.5M+131% YoY
Unit economics improvements enabled efficient capital deployment across consumer acquisition channels.
Third-party channel revenue$73.1M+90% YoY
Contributions from new and existing agencies alongside enhancements to agent portal improved conversion rates and agent productivity.
Largest Expense Items
Sales and marketing$128.1M+148% YoY
$69.7M increase in advertising, agent payments, and policy acquisition expenses reflecting strategic expansion; $1.2M increase in stock-based compensation.
General and administrative$23.9M+193% YoY
$11.5M increase in stock-based compensation and related taxes primarily from RSU vesting triggered by IPO liquidity event.
Technology (exclusive of amortization)$13.9M+90% YoY
$2.3M stock-based compensation, $2.2M personnel-related expenses from headcount growth, $1.0M software and web services, $0.6M hosting fees.
Cost of revenue$4.0M+183% YoY
Increase in underwriting costs driven by 133% growth in application and activated policy volume.
Margins: Gross margin remained stable at 98%, but operating margin compressed to 9.6% from 21.2% YoY, primarily due to $11.8M IPO-driven stock-based compensation in general and administrative expenses and elevated sales and marketing spend to support 133% policy growth.
Watch Items from the Filing
Top three carriers (Ameritas, Banner Life, TruStage) represent 88% of total revenue, with Carrier A at 43%, Carrier B at 36%, creating significant concentration risk.
Net loss of $146.9M in H1 2026 versus $30.7M net income in H1 2025, primarily from $208.2M stock-based compensation expense related to RSU vesting upon IPO closing.
Cash and investments of $252.9M (including $112.2M cash, $56.2M short-term, $84.5M long-term investments) provide sufficient liquidity for at least 12 months; operating cash flow positive at $66.9M despite net loss.
Average payback period improved to within two months for policy acquisition, supporting scalable economics; ARPU flat YoY at $1,950 for H1 2026.
AI-extracted and verified against SEC EDGAR filing text. Not investment advice.
About Ethos Technologies Inc. (LIFE): stock profile, AI score and financials
Ethos Technologies Inc. (LIFE) stock profile, AI quality score, and SEC EDGAR financial data, a Financials sector company. 13F Pro's AI-powered ranking engine scores LIFE at 21.6/100 on a composite quality score built from its SEC filings, placing it at rank #2,728 of 2,925 stocks — the bottom half of the AI-ranked universe. Areas of concern include institutional flow (8.7) and balance sheet strength (12.3), which score below median versus the broader universe. Shareholder dilution risk is elevated at 33.5/100, reflecting ongoing share issuance or stock-based compensation. Based on the latest XBRL financial filings (Q2 2026), Ethos Technologies Inc. reports quarterly revenue of $189.6M, net income of $19.5M, an operating margin of 9.6%. Top institutional holders of LIFE by reported 13-F value include Alphabet, SOFTBANK GROUP, Divisadero Street Capital Management, based on the most recent SEC filings. LIFE trades on the Nasdaq exchange and files with the SEC under CIK 1788451. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate LIFE daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Ethos Technologies Inc. directly from SEC EDGAR.