MediaAlpha, Inc. (MAX)
NYSE: MAX · Real-Time Price · USD
14.71
-0.10 (-0.68%)
Nov 13, 2026, 4:00 PM EST - Market closed
MediaAlpha Cash Flow Statement
Financials in millions USD. Fiscal year is January - December.
Millions USD. Fiscal year is Jan - Dec.
Operating Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 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 |
Net Income | 108.07 | 25.62 | 16.63 | -40.42 | -57.67 | -5.28 |
Depreciation & Amortization | 2.24 | 3.25 | 6.68 | 7.27 | 6.15 | 3.35 |
Other Amortization | 0.54 | 0.65 | 0.76 | 0.79 | 0.83 | 1.18 |
Asset Writedown & Restructuring Costs | - | 13.42 | - | - | - | - |
Loss (Gain) From Sale of Investments | - | - | - | 1.41 | 8.59 | - |
Stock-Based Compensation | 31.39 | 30.33 | 34.08 | 53.32 | 58.47 | 45.71 |
Provision & Write-off of Bad Debts | 0.09 | -0.17 | 0.5 | 0.01 | 0.14 | 0.14 |
Other Operating Activities | -24.73 | -12.73 | 13.3 | -15.43 | -2.21 | -0.78 |
Change in Accounts Receivable | -37.86 | 20.09 | -89.66 | 6.22 | 17.34 | 20.06 |
Change in Accounts Payable | 19.04 | -14.47 | 49.28 | 2.29 | -7.8 | -36.48 |
Change in Other Net Operating Assets | -43.59 | -0.39 | 14.3 | 4.78 | 4.43 | 0.7 |
Operating Cash Flow | 55.19 | 65.6 | 45.87 | 20.23 | 28.27 | 28.62 |
Operating Cash Flow Growth | -36.98% | 43.00% | 126.74% | -28.45% | -1.21% | -44.33% |
Investing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 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 |
Capital Expenditures | -0.98 | -0.34 | -0.25 | -0.07 | -0.1 | -0.65 |
Cash Acquisitions | - | - | - | - | -49.68 | - |
Sale (Purchase) of Intangibles | - | - | -0.4 | - | - | - |
Investing Cash Flow | -0.98 | -0.34 | -0.65 | -0.07 | -49.78 | -0.65 |
Financing Activities
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 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 |
Long-Term Debt Issued | - | - | - | - | 25 | 190 |
Long-Term Debt Repaid | - | -9.5 | -12.55 | -9.5 | -29.5 | -186.38 |
Net Debt Issued (Repaid) | 19.92 | -9.5 | -12.55 | -9.5 | -4.5 | 3.63 |
Issuance of Common Stock | - | - | - | - | 1.36 | - |
Repurchase of Common Stock | -68.98 | -51.48 | -6.31 | -3.72 | -9.03 | -3.38 |
Common Dividends Paid | - | - | - | - | - | -0.23 |
Dividends Paid | - | - | - | - | - | -0.23 |
Other Financing Activities | -58.81 | -0.67 | -0.37 | -4.21 | -2.35 | -0.98 |
Financing Cash Flow | -107.87 | -61.65 | -19.22 | -17.43 | -14.52 | -0.96 |
Net Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 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 |
Net Cash Flow | -53.66 | 3.61 | 26 | 2.73 | -36.02 | 27.01 |
Free Cash Flow
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 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 |
Free Cash Flow | 54.2 | 65.26 | 45.62 | 20.16 | 28.18 | 27.97 |
Free Cash Flow Growth | -37.86% | 43.05% | 126.30% | -28.46% | 0.73% | -45.28% |
Free Cash Flow Margin | 4.19% | 5.86% | 5.28% | 5.19% | 6.14% | 4.33% |
Free Cash Flow Per Share | 0.86 | 0.98 | 0.86 | 0.44 | 0.67 | 0.46 |
Levered Free Cash Flow | 49.06 | 96.48 | 32.34 | 34.99 | 50.74 | 31.02 |
Unlevered Free Cash Flow | 55.13 | 102.85 | 40.55 | 43.77 | 55.68 | 34.73 |
Additional Metrics
Fiscal Year | TTM | FY 2025 | FY 2024 | FY 2023 | FY 2022 | FY 2021 |
|---|---|---|---|---|---|---|
Period Ending | Sep '26 Sep 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 Interest Paid | 11.52 | 10.79 | 13.94 | 13.77 | 7.07 | 5.6 |
Cash Income Tax Paid | 1.46 | 1.01 | 0.23 | -0.26 | -2.38 | 0.31 |
Change in Working Capital | -62.41 | 5.22 | -26.07 | 13.29 | 13.97 | -15.72 |