Ethos Technologies Reveals 55% Revenue Surge as Insurance IPOs Gain Momentum – ProgramBusiness

Ethos Technologies reported a 55% increase in revenue in the first half of 2025, according to its U.S. initial public offering filing on Friday. The life-insurance platform is the latest company to enter the active insurance IPO market, which has seen nearly half a dozen listings in New York since May.

In the six months ending June 30, Ethos posted net income of $30.7 million on revenue of $183.7 million, up from $18.7 million on revenue of $118.6 million in the same period last year. Ethos and certain existing shareholders plan to sell shares in the upcoming offering.

The company, founded in 2016 by Peter Colis and Lingke Wang, partners with carriers to provide life insurance to families across the United States. Over time, Ethos has expanded into additional insurance and estate-planning products. Activated policies on its platform rose 70% to 94,405 in the first half of 2025.

Ethos is backed by major investors, including SoftBank, which invested $100 million in 2021 at a $2.7 billion valuation, along with Sequoia Capital, Accel, and Alphabet-backed GV. The company will list on the Nasdaq under the symbol “LIFE,” with Goldman Sachs and J.P. Morgan serving as lead underwriters.

The strong results come as insurtech Exzeo also filed publicly to list in New York, and flood insurer Neptune prepares for its debut next week. Insurance IPO activity has been brisk, though results have varied. Accelerant (ARX.N) and Slide Insurance (SLDE.O) are trading below offer prices, while American Integrity Insurance (AII.N) and Aspen Insurance (AHL.N) have outperformed. Aspen is set to be acquired by Japan’s Sompo (8630.T).

“These outcomes will be front of mind for investors as they assess whether upcoming insurance listings can deliver sustainable public-market performance,” said Kat Liu, vice president at IPOX.

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