Quarterly Results

• Fourth quarter revenue of $117 million, down 6% year over year; Full year revenue of $388 million, down 15% year over year
• Fourth quarter Transaction Value of $165 million, down 2% year over year; Full year Transaction Value of $593 million, down 20% year over year
  • Fourth quarter Transaction Value from Property & Casualty down 4% year over year to $54 million; Full year Transaction Value from Property & Casualty down 31% year over year to $278 million
  • Fourth quarter Transaction Value from Health flat year over year at $98 million; Full year Transaction Value from Health up 3% year over year to $260 million

LOS ANGELES, Feb. 20, 2024 (GLOBE NEWSWIRE) -- MediaAlpha, Inc. (NYSE: MAX), today announced its financial results for the fourth quarter and full year ended December 31, 2023.

“Our fourth quarter results exceeded expectations, driven primarily by improving conditions in our Property & Casualty (P&C) insurance vertical,” said MediaAlpha co-founder and CEO Steve Yi. “While our P&C vertical has been challenged by difficult market conditions for the past several years, we are seeing the market turn and expect first quarter Transaction Value to nearly double sequentially. We believe our growth will accelerate as more auto insurance carriers restore profitability and increase their marketing investments, driving strong results for MediaAlpha this year and beyond.”

View Full Release

• Revenue of $75 million, down 16% year over year
• Transaction Value of $109 million, down 26% year over year
  • Transaction Value from Property & Casualty down 46% year over year to $45 million
  • Transaction Value from Health up 11% year over year to $51 million

LOS ANGELES, Nov. 01, 2023 (GLOBE NEWSWIRE) -- MediaAlpha, Inc. (NYSE: MAX), today announced its financial results for the third quarter ended September 30, 2023.

“Our third quarter results reflected solid execution, as we grew Adjusted EBITDA year over year despite continued challenging market conditions in our property & casualty (P&C) insurance vertical,” said Steve Yi, MediaAlpha CEO. “In the fourth quarter, we expect continued Adjusted EBITDA growth year over year, driven by gross margin expansion and disciplined expense management. We continue to see the benefits of insurance shopping migrating to online channels, and we expect growth to accelerate in 2024 as the P&C cycle turns and carrier advertising spending starts to normalize.”

View Full Release

• Revenue of $85 million, down 18% year over year
• Transaction Value of $126 million, down 31% year over year
  • Transaction Value from Property & Casualty down 46% year over year to $61 million
  • Transaction Value from Health up 10% year over year to $51 million

LOS ANGELES--(BUSINESS WIRE)-- MediaAlpha, Inc. (NYSE: MAX), today announced its financial results for the second quarter ended June 30, 2023.

“Our second quarter results exceeded expectations, driven primarily by strength in our Health insurance vertical,” said MediaAlpha co-founder and CEO Steve Yi. “In our Property & Casualty (P&C) insurance vertical, customer acquisition spend remains at cyclically low levels as carriers are taking longer than expected to restore underwriting profitability, and we expect this to continue for the balance of the year. Our ability to operate profitability in the current market environment is a tribute to the efficiency of our business model and the agility of our team, which we believe will enable us to capture outsized growth as the auto insurance market recovers.”

• Revenue of $112 million, down 22% year over year
• Transaction Value of $193 million, down 19% year over year
  • Transaction Value from Property & Casualty down 20% year over year to $118 million
  • Transaction Value from Health down 1% year over year to $59 million

LOS ANGELES--(BUSINESS WIRE)-- MediaAlpha, Inc. (NYSE: MAX) today announced its financial results for the first quarter ended March 31, 2023.

“We started the year with a good first quarter, as the anticipated ramp in marketing spend by our largest carrier partner resulted in 108% sequential Transaction Value growth in our P&C insurance vertical, which helped drive a return to year-over-year Adjusted EBITDA growth,” said MediaAlpha co-founder and CEO Steve Yi. “However, the positive momentum we experienced in the first quarter has not continued, as the same carrier that helped drive our first quarter results has since reduced their advertising spend in light of renewed profitability concerns. While the amplitude and unpredictability of this underwriting cycle have been extraordinary, our first quarter results reinforce our conviction that P&C carriers will aggressively return to growth mode once underwriting profitability is restored.”