MediaAlpha Cash Flow Statement

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

Millions USD. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 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
Net Income	43.14	26.76	22.12	-56.56	-72.45	-8.48
Depreciation & Amortization	2.3	3.25	6.68	7.27	6.15	3.35
Stock-Based Compensation	30.57	30.33	34.08	53.32	58.47	45.71
Other Adjustments	131.11	0.03	9.06	2.91	22.13	3.75
Change in Receivables	-18.92	20.09	-89.66	6.22	17.34	20.06
Changes in Accounts Payable	9.04	-14.47	49.28	2.29	-7.8	-36.48
Changes in Accrued Expenses	-13.67	4.19	14.04	2	-0.49	2.9
Changes in Other Operating Activities	-4.33	-4.59	0.26	2.79	4.92	-2.2
Operating Cash Flow	40.34	65.6	45.87	20.23	28.27	28.62
Operating Cash Flow Growth	-40.58%	43.00%	126.74%	-28.45%	-1.21%	-44.33%
Capital Expenditures	-0.33	-0.34	-0.25	-0.07	-0.1	-0.65
Purchases of Intangible Assets	-	-	-0.4	-	-	-
Payments for Business Acquisitions	-	-	-	-	-49.68	-
Investing Cash Flow	-0.33	-0.34	-0.65	-0.07	-49.78	-0.65
Short-Term Debt Issued	-	-	-	-	25	-
Short-Term Debt Repaid	-5	-	-	-	-20	-
Net Short-Term Debt Issued (Repaid)	-5	-	-	-	5	-
Long-Term Debt Issued	150	-	-	-	-	190
Long-Term Debt Repaid	-159.13	-12.55	-9.5	-9.5	-9.5	-186.38
Net Long-Term Debt Issued (Repaid)	-9.13	-12.55	-9.5	-9.5	-9.5	3.63
Repurchase of Common Stock	-34.64	-47.27	-	-	-5.01	-
Net Common Stock Issued (Repurchased)	-34.64	-47.27	-	-	-5.01	-
Other Financing Activities	-13.58	-4.6	-6.68	-8.21	-5.01	-4.59
Financing Cash Flow	-77.53	-61.65	-19.22	-17.43	-14.52	-0.96
Net Cash Flow	-38.27	3.61	26	2.73	-36.02	27.01
Free Cash Flow	40.02	65.26	45.62	20.16	28.18	27.97
Free Cash Flow Growth	-38.68%	43.05%	126.30%	-28.46%	0.73%	-45.28%
FCF Margin	3.45%	5.86%	5.28%	5.19%	6.14%	4.33%
Free Cash Flow Per Share	0.68	0.98	0.86	0.44	0.67	0.46
Levered Free Cash Flow	17.92	1.13	77.14	-35.65	-59.48	-34.72
Unlevered Free Cash Flow	-28.71	-17.28	110.22	-25.33	86.86	-31.16

Updated Apr 29, 2026. Data Source: Fiscal.ai. Standard template. Financial Sources.

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