MediaAlpha, Inc. (MAX)

Name: MediaAlpha, Inc. (MAX) annual fundamentals
Creator: TickerFacts
License: https://creativecommons.org/publicdomain/zero/1.0/

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CIK 0001818383 · NYSE · Services-Business Services, NEC

Sector Services
Incorporated DE
Fiscal year ends Dec 31

For the year ended 2025-12-31, MediaAlpha, Inc. reported revenue of $1.11B. Revenue grew 28.8% from the prior annual period. Over the twelve months to 2026-06-30, revenue was $1.22B.

Key ratios (year ended 2025-12-31)

15.0%

Gross margin (computed)

2.0%

Operating margin

2.4%

Net margin

28.8%

Revenue growth (YoY)

Computed by TickerFacts from revenue minus cost of revenue. This may differ from the issuer's reported gross profit or margin; check the revenue and cost definitions.

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Latest selected filing: Form 4 (ownership change) · 2026-10-19

Annual financials

Annual flows and balances are grouped by their actual period end. Select a figure to open its SEC filing. n/a means a matching observation is unavailable. Free cash flow is operating cash flow minus capital expenditures, and EBITDA is operating income plus depreciation and amortization, for the same period, computed by TickerFacts.

The first column covers the twelve months to 2026-06-30 from the latest quarterly report: flows are the last fiscal year plus this year to date minus the same months a year earlier, and balances are as of that date. Per-share figures are annual only.

Period ended	TTM to 2026-06-30	2025-12-31	2024-12-31	2023-12-31	2022-12-31	2021-12-31	2020-12-31	2019-12-31	2018-12-31
Revenue	$1.22B	$1.11B	$864.70M	$388.15M	$459.07M	$645.27M	$584.81M	$408.00M	$296.91M
Cost of Revenue	$1.04B	$946.06M	$721.13M	$321.44M	$389.01M	$543.75M	$499.43M	$342.91M	$247.67M
Gross Profit (computed)	$180.09M	$167.54M	$143.57M	$66.71M	$70.06M	$101.52M	$85.38M	$65.10M	$49.24M
R&D Expense	$22.66M	$21.40M	$19.76M	$18.46M	$21.08M	$15.20M	$12.45M	$7.04M	$10.34M
Operating Income	$84.38M	$22.12M	$42.73M	-$39.92M	-$35.39M	$2.15M	$19.54M	$24.84M	$19.32M
Depreciation & Amortization	n/a	n/a	n/a	n/a	n/a	n/a	$300.0K	$300.0K	$200.0K
EBITDA	n/a	n/a	n/a	n/a	n/a	n/a	$19.84M	$25.14M	$19.52M
Net Income	$107.46M	$26.76M	$22.12M	-$56.55M	-$72.45M	-$8.47M	$10.56M	$17.82M	$18.12M
EPS (Diluted)	n/a	$0.39	$0.31	-$0.89	-$1.37	-$0.19	-$0.14	n/a	n/a
Total Assets	$359.82M	$383.83M	$262.45M	$153.93M	$170.08M	$289.80M	$210.34M	$105.40M	n/a
Total Liabilities	$364.76M	$413.02M	$308.68M	$248.35M	$256.17M	$351.37M	$315.45M	$144.90M	n/a
Long-Term Debt	$176.71M	$153.41M	$162.44M	$174.30M	$183.07M	$186.80M	$182.67M	n/a	n/a
Shareholders' Equity	-$4.95M	-$29.19M	-$46.23M	-$94.42M	-$86.08M	-$61.57M	-$105.12M	-$113.60M	$40.48M
Cash & Equivalents	$23.75M	$46.88M	$43.27M	$17.27M	$14.54M	$50.56M	$23.55M	$10.03M	n/a
Operating Cash Flow	$57.21M	$65.60M	$45.87M	$20.23M	$28.27M	$28.62M	$51.41M	$22.14M	$22.65M
Capital Expenditures	$924.0K	$340.0K	$254.0K	$73.0K	$98.0K	$650.0K	$296.0K	$146.0K	$630.0K
Free Cash Flow	$56.28M	$65.26M	$45.62M	$20.16M	$28.18M	$27.97M	$51.11M	$22.00M	$22.02M
Weighted Average Diluted Shares	n/a	66.79M	53.04M	45.57M	41.94M	61.26M	32.13M	n/a	n/a
EPS (Basic)	n/a	$0.46	$0.31	-$0.89	-$1.37	-$0.14	-$0.14	n/a	n/a

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