Ethos Technology Plans U.S. IPO After 55% Revenue Surge

Ethoes Technology Flies for IPO After Strong Revenue Surge

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Ethos Technologies has unveiled plans for a U.S. initial public offering, following a resplendent 55% surge in revenue during the first half of 2025, according to regulatory filings made on Friday. The San Francisco-based life insurance platform now joins a swelling cohort of insurers seeking to capitalize on Wall Street's buyout listings market, with nearly half a dozen peers having debuted in New York since May.

Founded in 2016 by Peter Coils and lingke wang, ethos collaborates with carriers to deliver life insurance solutions to American families through its digital platform. Over time, the company has broadened its offerings to include estate planning and ancillary products, with activated policies on its platform soaring 70% year-on-year to 94,405 in the first half of 2025.

For the six months ended June 30, Ethos reported net income of $30.7 million on revenue of $183.7 million, a striking improvement from $18.7 million in net income on $118.6 million in revenue in the same period last year. Both the company and certain existing shareholders intend to divest stock in the offering. Ethos will list on the Nasdaq under the evocative ticker “LIFE,” with Goldman Sachs and J.P. Morgan leading the underwriting syndicate.

Ethos counts SoftBank, which invested certain millions at a $27 billion valuation in 2021, among its backers. Other major stakeholders include sequoia capital, accel, and GV, Alphabet’s venture arm.

The company’s filing arrives amid a fervent streak for insurance IPOs. On Thursday, fellow Insurtech exzeo also lodged plans to list in New York, while flood insurer Neptune is poised to enter public markets next week. Recent listings have delivered varied fortunes; accelerant and slide insurance now trade beneath their offer prices, while American Integrity Insurance and aspen insurance are soon to be acquired by Japan’s sompo, and stand as more luminous performers.

As Kat Liu, vice president at IPOX, observed, the outcomes of American Integrity and Aspen will weigh heavily on investors’ deliberations as they gauge whether forthcoming insurance flotations can sustain robust performance once the early glow of debut subsides.