Citizens maintains Ethos Technologies at Market Outperform, raises price target to $55 from $40

Ethos Technologies (LIFE) shares rose 10% after reporting Q3 revenue growth of 151% to $235.2M, exceeding estimates. The company raised its 2026 revenue outlook to $838M-$842M. Adjusted EBITDA increased 87% to $35M, with margins improving. The board approved a $100M stock buyback. Average revenue per policy declined due to more whole life products.

Barclays kept Ethos Technologies at Overweight, raising its price target to $44 from $37, an 18.9% increase. This implies a 3.2% upside from the Nov 2 close of $42.62.

Ethos Technologies (LIFE) stock rose 11.4% premarket after Q3 revenue of $235M beat estimates and guidance. Adjusted EBITDA was $35M, also topping forecasts. New policies increased 189% YoY. Citizens raised its price target to $55. Full-year 2026 revenue guidance increased to $838M-$842M.

Ethos Technologies (LIFE) reported Q3 2026 revenue of $235M, up 151% YoY, with adjusted EBITDA of $35M, exceeding guidance. Direct and third-party channel revenues grew 112% and 209% YoY, respectively. Contribution margin declined to 28%, and Q4 guidance implies growth deceleration to 102% YoY. Management discussed channel growth, carrier relationships, and margin dynamics during the earnings call.

Ethos Technologies (LIFE) reported Q3 earnings, highlighting a 209% YoY increase in third-party channel revenue to $116M. The company increased marketing spending and raised its fiscal 2026 outlook, projecting full-year revenue of $838M-$842M. Ethos emphasized its growth strategy centered on direct-channel data cycle and third-party agency model.

Ethos Technologies Inc. (LIFE) filed an SEC Form 8-K — Results of Operations and Financial Condition. Exhibit 99.1 Ethos Reports Third Quarter Fiscal Year 2026 Financial Results • Q3 Revenue grew 151% year-over-year to $235 million • Q3 Direct Channel Revenue grew 112% year-over-year to $119 million • Q3 Third-Party Channel Revenue grew 209% year-over-year to $116 million Austin,