MediaAlpha, Inc. (MAX)

NYSE: MAX · Real-Time Price · USD

12.94

-0.23 (-1.75%)

Aug 21, 2026, 4:00 PM EDT - Market closed

MediaAlpha Financials Overview

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

Millions USD. Fiscal year is Jan - Dec.

Revenue & Profits

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Revenue	1,225	1,114	864.7	388.15	459.07	645.27
Revenue Growth	13.84%	28.78%	122.78%	-15.45%	-28.86%	10.34%
Gross Profit	180.09	167.54	143.57	66.71	70.06	101.52
Operating Income	84.83	77.91	53.82	-39.92	-35.39	2.15
Net Income	97.22	25.62	16.63	-40.42	-57.67	-5.28
Earnings Per Share	1.43	0.39	0.31	-0.89	-1.37	-0.19
EPS Growth	-	25.81%	-	-	-	-

Cash & Debt

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Cash & Investments	23.75	46.88	43.27	17.27	14.54	50.56
Total Debt	176.71	154.79	164.56	176.85	186.29	190.78
Net Cash (Debt)	-152.97	-107.91	-121.3	-159.58	-171.75	-140.22
Net Cash Growth	-	-	-	-	-	-
Net Cash Per Share	-2.17	-1.62	-2.29	-3.50	-4.09	-2.29

Cash Flow & CapEx

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Operating Cash Flow	57.21	65.6	45.87	20.23	28.27	28.62
Capital Expenditures	-0.92	-0.34	-0.25	-0.07	-0.1	-0.65
Free Cash Flow	56.28	65.26	45.62	20.16	28.18	27.97
Free Cash Flow Growth	-21.49%	43.05%	126.30%	-28.46%	0.73%	-45.28%

Margins

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Jun '26 Jun 30, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Gross Margin	14.71%	15.04%	16.60%	17.19%	15.26%	15.73%
Operating Margin	6.93%	7.00%	6.22%	-10.29%	-7.71%	0.33%
Pretax Margin	-0.88%	-9.97%	2.72%	-14.69%	6.63%	-1.48%
Profit Margin	7.94%	2.30%	1.92%	-10.41%	-12.56%	-0.82%
FCF Margin	4.60%	5.86%	5.28%	5.19%	6.14%	4.33%

Valuation

Fiscal Year	Current	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Aug '26 Aug 22, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
PE Ratio	9.02	28.74	37.40	-	-	-
Forward PE	11.69	15.55	16.32	144.79	128.06	60.93
P/FCF Ratio	14.09	11.29	13.63	25.98	15.22	21.75
PS Ratio	0.65	0.66	0.72	1.35	0.93	0.94