Income statement, balance sheet and cash flow statement for the last 2 fiscal years, taken from the XBRL data Ethos Technologies Inc. files with the SEC in its annual reports.
In USD millions, except per-share amounts. Outflows in the cash flow statement are negative.
Income statement
FY2025
FY2025
Revenue
255
388
Cost of revenue
6.53
6.73
Gross profit
248
381
Selling and marketing
149
229
General and administrative
22.4
39.6
Operating income
48.7
72.9
Interest income
5.6
5.83
Other non-operating income
5.19
2.82
Pre-tax income
53.9
75.7
Income tax
5.1
4.59
Net income
48.8
71.2
EBITDA
54.2
78.3
EPS, basic
3.05
4.31
EPS, diluted
0.85
1.22
Shares, basic (weighted)
16
16.5
Shares, diluted (weighted)
57.6
58.4
Balance sheet
FY2025
FY2025
Cash and equivalents
35.1
91.1
Short-term investments
68.3
34.9
Receivables
30.3
36.5
Other current assets
26.1
54.6
Total current assets
175
246
Property, plant and equipment
7.42
8.19
Lease right-of-use assets
2.54
2.18
Goodwill
2.24
2.24
Intangible assets
0.22
0.66
Long-term investments
35
31.5
Total assets
396
515
Accounts payable
24.3
55.1
Accrued liabilities
19.2
39.2
Total current liabilities
67.6
113
Lease liabilities
1.86
1.23
Other non-current liabilities
1.5
0
Total liabilities
99
135
Paid-in capital
67
79
Retained earnings
-174
-103
Other comprehensive income
-0.48
-0.55
Shareholders' equity
-107
-24.1
Total equity
-107
-24.1
Total liabilities and equity
396
515
Shares outstanding
16
16.6
Cash flow statement
FY2025
FY2025
Net income
48.8
71.2
Depreciation and amortization
5.44
5.36
Stock-based compensation
3.17
10.6
Deferred income tax
3.91
4.62
Change in receivables
-13.6
-11.2
Change in payables
12.7
30.6
Cash from operations
-10.9
36.2
Capital expenditures
-0.78
-1.49
Purchases of investments
-155
-66.7
Sales and maturities of investments
145
99.9
Cash from investing
-0.9
31.9
Dividends paid
0
Cash from financing
21.9
-12
Exchange rate effect
0
-0.03
Net change in cash
10.1
56
Free cash flow
-11.7
34.7
Income taxes paid
0.52
1.76
Key metrics
Worked out from the statements above. Latest values use the trailing twelve months to September 30, 2026; growth uses fiscal years. Valuation uses the share price of $36.02 on November 10, 2026.
Profitability
Metric
Value
How it is calculated
Gross margin
98.1%
Gross profit / revenue.
Operating margin
-16.1%
Operating income / revenue.
EBITDA margin
-15.2%
EBITDA (operating income + depreciation and amortization) / revenue.
Pre-tax margin
-15.5%
Pre-tax income / revenue.
Net margin
-16.2%
Net income / revenue.
FCF margin
15.2%
Free cash flow (cash from operations - capital expenditures) / revenue.
Operating cash flow margin
15.5%
Cash from operations / revenue.
Return on equity (ROE)
-23.0%
Net income / average shareholders' equity (opening and closing). Not shown when equity is negative.
Return on assets (ROA)
-14.5%
Net income / average total assets.
Return on invested capital (ROIC)
-25.5%
Approximation: operating income x (1 - tax rate) / average (total debt + equity - cash). Tax rate is the effective rate when between 0% and 50%, else 21%.
Stock-based pay / revenue
32.6%
Stock-based compensation (from the cash flow statement) / revenue.
Capex / revenue
0.2%
Capital expenditures / revenue.
D&A / revenue
0.8%
Depreciation and amortization / revenue.
Growth
Metric
Value
How it is calculated
Revenue growth, 1y
52.0%
Revenue vs the same period a year earlier. Only from a positive base.
Gross profit growth, 1y
53.3%
Gross profit vs the same period a year earlier. Only from a positive base.
Operating income growth, 1y
49.6%
Operating income vs the same period a year earlier. Only from a positive base.
EBITDA growth, 1y
44.5%
EBITDA vs the same period a year earlier. Only from a positive base.
Net income growth, 1y
45.7%
Net income vs the same period a year earlier. Only from a positive base.
EPS growth, 1y
43.5%
EPS vs the same period a year earlier. Only from a positive base.
Total assets growth, 1y
30.2%
Total assets vs the same period a year earlier. Only from a positive base.
Share count change, 1y
1.4%
Change in diluted weighted shares vs a year earlier. Negative means buybacks shrank the share count; positive means dilution.
Balance sheet health
Metric
Value
How it is calculated
Current ratio
1.47x
Current assets / current liabilities.
Quick ratio
1.10x
(Cash + short-term investments + receivables) / current liabilities.
Cash ratio
0.80x
(Cash + short-term investments) / current liabilities.
Capital expenditures / cash from operations, when that is positive.
Per share
Metric
Value
How it is calculated
EPS, diluted
-$1.70
Net income per diluted share, as reported (split-adjusted). Over the last twelve months: the four quarters summed, or net income / latest diluted shares when a quarter has no reported EPS.
Revenue per share
$10.52
Revenue / diluted weighted shares.
FCF per share
$1.60
Free cash flow / diluted weighted shares.
Operating cash flow per share
$1.63
Cash from operations / diluted weighted shares.
Valuation
Metric
Value
How it is calculated
Market cap
$2.30B
Share price x shares outstanding.
Enterprise value
$2.08B
Market cap + total debt - cash - short-term investments.
P/S
3.15x
Market cap / revenue.
P/B
4.48x
Market cap / shareholders' equity. Only when equity is positive.
Price / tangible book
4.51x
Market cap / tangible book value, when positive.
P/FCF
20.7x
Market cap / free cash flow. Only when free cash flow is positive.
P/OCF
20.4x
Market cap / cash from operations, when positive.
EV/Sales
2.85x
Enterprise value / revenue.
EV/FCF
18.7x
Enterprise value / free cash flow, when both are positive.
FCF yield
4.8%
Free cash flow / market cap.
Earnings yield
-5.1%
Net income / market cap (the inverse of P/E).
What was Ethos Technologies Inc.'s revenue in fiscal 2025?
Ethos Technologies Inc. reported revenue of $387.6M for fiscal 2025, 52% higher than the year before.
Was Ethos Technologies Inc. profitable in fiscal 2025?
Yes. Net income was $71.2M, a net margin of 18.4%.
How much free cash flow did Ethos Technologies Inc. generate in fiscal 2025?
Cash from operations of $36.2M minus capital expenditures of $1.5M left free cash flow of $34.7M.
Source: SEC EDGAR XBRL company facts. Where a company tags only year-to-date figures, quarters are worked out as differences. Where a line is not tagged it is left empty, never estimated.