MediaAlpha, Inc. (MAX)

MediaAlpha Income Statement

Financials in millions USD. Fiscal year is January - December.

Fiscal Year	TTM	FY 2024	FY 2023	FY 2022	FY 2021	FY 2020
Period Ending	Sep 30, 2025	Dec 31, 2024	Dec 31, 2023	Dec 31, 2022	Dec 31, 2021	Dec 31, 2020
Revenue	1,123	864.7	388.15	459.07	645.27	584.81
Revenue Growth (YoY)	64.86%	122.78%	-15.45%	-28.86%	10.34%	43.34%
Cost of Revenue	951.38	721.13	321.44	389.01	543.75	499.43
Gross Profit	171.71	143.57	66.71	70.06	101.52	85.38
Selling, General & Admin	67.88	69.99	83.88	84.37	84.18	53.4
Research & Development	21.09	19.76	18.46	21.08	15.2	12.45
Operating Expenses	88.97	89.76	102.33	105.45	99.38	65.85
Operating Income	82.75	53.82	-35.62	-35.39	2.15	19.54
Interest Expense	-11.83	-14.35	-15.32	-9.25	-7.83	-7.94
Other Non Operating Income (Expenses)	3.81	2.13	-0.37	75.09	-3.84	-2.3
EBT Excluding Unusual Items	74.73	41.6	-51.3	30.46	-9.52	9.3
Gain (Loss) on Sale of Investments	-	-	-1.41	-	-	-
Legal Settlements	-51.27	-11.09	-4.3	-	-	-
Other Unusual Items	-8.73	-7.01	-0.01	-	-	-
Pretax Income	1.31	23.5	-57.02	30.46	-9.52	9.3
Income Tax Expense	1.24	1.38	-0.46	102.91	-1.05	-1.27
Earnings From Continuing Operations	0.08	22.12	-56.56	-72.45	-8.48	10.56
Minority Interest in Earnings	-1.22	-5.49	16.14	14.78	3.2	4.24
Net Income	-1.14	16.63	-40.42	-57.67	-5.28	14.8
Preferred Dividends & Other Adjustments	-	-	-	-	-	19.17
Net Income to Common	-1.14	16.63	-40.42	-57.67	-5.28	-4.37
Net Income Growth	-	-	-	-	-	-16.95%
Shares Outstanding (Basic)	56	53	46	42	37	32
Shares Outstanding (Diluted)	56	53	46	42	61	32
Shares Change (YoY)	-8.80%	16.39%	8.65%	-31.52%	90.63%	3061.47%
EPS (Basic)	-0.02	0.31	-0.89	-1.37	-0.14	-0.14
EPS (Diluted)	-0.10	0.31	-0.89	-1.37	-0.19	-0.14
Free Cash Flow	87.23	45.62	20.16	28.18	27.97	51.11
Free Cash Flow Per Share	1.56	0.86	0.44	0.67	0.46	1.59
Gross Margin	15.29%	16.60%	17.19%	15.26%	15.73%	14.60%
Operating Margin	7.37%	6.22%	-9.18%	-7.71%	0.33%	3.34%
Profit Margin	-0.10%	1.92%	-10.41%	-12.56%	-0.82%	-0.75%
Free Cash Flow Margin	7.77%	5.28%	5.19%	6.14%	4.33%	8.74%
EBITDA	87.08	60.5	-28.35	-29.24	5.5	23.03
EBITDA Margin	7.75%	7.00%	-7.30%	-6.37%	0.85%	3.94%
D&A For EBITDA	4.33	6.68	7.27	6.15	3.35	3.49
EBIT	82.75	53.82	-35.62	-35.39	2.15	19.54
EBIT Margin	7.37%	6.22%	-9.18%	-7.71%	0.33%	3.34%
Effective Tax Rate	94.14%	5.89%	-	337.85%	-	-

Updated Sep 30, 2025. Source: S&P Global Market Intelligence. Standard template. Financial Sources.

SEC Filings: 10-K · 10-Q