MediaAlpha, Inc. (MAX) stock

MAXNYSEServices-Business Services, NECFiscal year ends December 31

Financials through Q3 FY2026, quarter ended Sep 30, 2026Last filing: 10-Q on Oct 28, 2026Score 14/3059% below fair value

$14.97+0.60 (+4.18%)

Close on Nov 11, 2026Market cap $886.11MP/E 8.3Yield –

Earnings

MediaAlpha's quarterly results as reported in its earnings releases, with the company's own outlook. Hover a number to see the sentence it came from.

Next report

Feb 22, 2027

Q4 FY2026 · estimated, after the close

Revenue, Q3 FY2026

$375.90M

+22.6% on a year earlier

EPS, Q3 FY2026

$0.46

$0.26 a year earlier

Latest guidance

Issued

Oct 28, 2026 · 4 items

Quarterly results

Revenue and earnings per share from each of MediaAlpha's earnings releases, newest first

Quarter	Reported	Revenue	YoY	EPS	Source
Q4 FY2026ended Dec 31, 2026	Feb 22, 2027Expected	–	–	–	–
Q3 FY2026ended Sep 30, 2026	Oct 28, 2026after the close	$375.90M	+22.6%	$0.46	Release
Q2 FY2026ended Jun 30, 2026	Jul 29, 2026after the close	$316.90M	+26.0%	$0.65	Release
Q1 FY2026ended Mar 31, 2026	Apr 29, 2026after the close	$310.00M	+17.3%	–	Release
Q4 FY2025ended Dec 31, 2025	Feb 23, 2026after the close	$291.00M	-3.2%	–	Release
Q3 FY2025ended Sep 30, 2025	Oct 29, 2025after the close	$306.50M	+18.3%	$0.26	Release
Q2 FY2025ended Jun 30, 2025	Aug 6, 2025after the close	$251.60M	+41.1%	-$0.33	Release
Q1 FY2025ended Mar 31, 2025	Apr 30, 2025after the close	$264.30M	+108.8%	-$0.04	Release
Q4 FY2024ended Dec 31, 2024	Feb 24, 2025after the close	$300.60M	+156.5%	–	Release
Q3 FY2024ended Sep 30, 2024	Oct 30, 2024after the close	$259.10M	+247.3%	$0.17	Release
Q2 FY2024ended Jun 30, 2024	Jul 31, 2024after the close	$178.30M	+110.3%	$0.07	Release
Q1 FY2024ended Mar 31, 2024	May 1, 2024after the close	$126.60M	+13.4%	-$0.02	Release
Q4 FY2023ended Dec 31, 2023	Feb 20, 2024after the close	$117.20M	-5.5%	-$0.05	Release
Q3 FY2023ended Sep 30, 2023	Nov 1, 2023after the close	$74.60M	-16.2%	-$0.29	Release
Q2 FY2023ended Jun 30, 2023	Aug 2, 2023after the close	$84.80M	-18.0%	-$0.32	Release
Q1 FY2023ended Mar 31, 2023	May 4, 2023after the close	$111.60M	-21.7%	-$0.23	Release
Q4 FY2022ended Dec 31, 2022	Feb 23, 2023after the close	$124.00M	-23.3%	-$0.63	Release
Q3 FY2022ended Sep 30, 2022	Nov 3, 2022after the close	$89.00M	-41.7%	-$0.34	Release
Q2 FY2022ended Jun 30, 2022	Aug 4, 2022after the close	$103.40M	–	-$0.22	Release
Q1 FY2022ended Mar 31, 2022	May 5, 2022after the close	$142.60M	–	-$0.17	Release
Q4 FY2021ended Dec 31, 2021	Feb 24, 2022after the close	$161.60M	–	–	Release
Q3 FY2021ended Sep 30, 2021	Nov 8, 2021during market hours	$152.70M	–	–	Release
Q2 FY2021ended Jun 30, 2021	Jul 8, 2021after the close	–	–	–	Filing
Q1 FY2021ended Mar 31, 2021	May 10, 2021before the open	–	–	–	Filing
Q4 FY2020ended Dec 31, 2020	Feb 26, 2021during market hours	–	–	–	Filing
Q3 FY2020ended Sep 30, 2020	Dec 10, 2020after the close	–	–	–	Filing

Figures as first announced; later restatements appear under Financials. Expected dates are estimated from the company's past reporting pattern.

Current guidance

MediaAlpha's latest outlook for periods it has not reported yet, compared with what it said before

Metric	Period	Guidance	Before	Change	Given
RevenueGAAP	Q4 FY2026	$355.00M – $375.00M	–	New	Oct 28, 2026
Adjusted EBITDAnon-GAAP	Q4 FY2026	$36.00M – $39.00M	–	New	Oct 28, 2026
Contributionnon-GAAP	Q4 FY2026	$54.00M – $57.00M	–	New	Oct 28, 2026
free cash flownon-GAAP	FY2026	$90.00M – $100.00M	–	New	Oct 28, 2026
free cash flownon-GAAP	FY2026	$90.00M – $100.00M	–	New	Jul 29, 2026

Guidance vs results

The last range MediaAlpha gave before each report, against the figure it then reported. Full years add up the four quarters.

Period	Metric	Guidance	Actual	Result
Q3 FY2026	Revenue	$330.00M – $355.00M	$375.90M	Above range
Q2 FY2026	Revenue	$290.00M – $310.00M	$316.90M	Above range
Q2 FY2026	Revenue growth	+19%	+25.95%	Above range
Q1 FY2026	Revenue	$285.00M – $305.00M	$310.00M	Above range
Q4 FY2025	Revenue	$280.00M – $300.00M	$291.00M	Within range
Q3 FY2025	Revenue	$270.00M – $290.00M	$306.50M	Above range
Q2 FY2025	Revenue	$235.00M – $255.00M	$251.60M	Within range
Q1 FY2025	Revenue	$225.00M – $245.00M	$264.30M	Above range
Q4 FY2024	Revenue	$275.00M – $295.00M	$300.60M	Above range
Q3 FY2024	Revenue	$240.00M – $255.00M	$259.10M	Above range
Q2 FY2024	Revenue	$145.00M – $155.00M	$178.30M	Above range
Q1 FY2024	Revenue	$105.00M – $115.00M	$126.60M	Above range
Q4 FY2023	Revenue	$106.00M – $116.00M	$117.20M	Above range
Q3 FY2023	Revenue	$65.00M – $75.00M	$74.60M	Within range
Q2 FY2023	Revenue	$74.00M – $84.00M	$84.80M	Above range
Q1 FY2023	Revenue	$106.00M – $116.00M	$111.60M	Within range
Q4 FY2022	Revenue	$110.00M – $120.00M	$124.00M	Above range
Q3 FY2022	Revenue	$77.00M – $87.00M	$89.00M	Above range
Q2 FY2022	Revenue	$110.00M – $120.00M	$103.40M	Below range
Q1 FY2022	Revenue	$135.00M – $145.00M	$142.60M	Within range

Guidance history

Every forecast MediaAlpha put in an earnings release, newest first

Given	Metric	Period	Guidance	Change
Oct 28, 2026	Adjusted EBITDA	Q4 FY2026	$36.00M – $39.00M	New
Oct 28, 2026	free cash flow	FY2026	$90.00M – $100.00M	New
Oct 28, 2026	Contribution	Q4 FY2026	$54.00M – $57.00M	New
Oct 28, 2026	Revenue	Q4 FY2026	$355.00M – $375.00M	New
Jul 29, 2026	Adjusted EBITDA	Q3 FY2026	$32.00M – $35.00M	New
Jul 29, 2026	free cash flow	FY2026	$90.00M – $100.00M	New
Jul 29, 2026	Contribution	Q3 FY2026	$51.50M – $54.50M	New
Jul 29, 2026	Revenue	Q3 FY2026	$330.00M – $355.00M	New
Apr 29, 2026	Adjusted EBITDA	Q2 FY2026	$28.00M – $30.50M	New
Apr 29, 2026	Contribution	Q2 FY2026	$45.50M – $48.50M	New
Apr 29, 2026	revenue to grow	Q2 FY2026	+19%	New
Apr 29, 2026	Revenue	Q2 FY2026	$290.00M – $310.00M	New
Feb 23, 2026	Adjusted EBITDA	Q1 FY2026	$29.50M – $31.50M	New
Feb 23, 2026	Transaction Value	Q1 FY2026	$570.00M – $595.00M	New
Feb 23, 2026	Revenue	Q1 FY2026	$285.00M – $305.00M	New
Oct 29, 2025	Adjusted EBITDA	Q4 FY2025	$27.50M – $29.50M	New
Oct 29, 2025	Transaction Value in our P&C insurance vertical growth	Q4 FY2025	+45%	New
Oct 29, 2025	Transaction Value in our Health insurance vertical growth	Q4 FY2025	-45%	Lowered
Oct 29, 2025	Transaction Value from under-65 health decline	Q4 FY2025	-$38.00M – -$34.00M	New
Oct 29, 2025	Contribution from under-65 health decline	Q4 FY2025	-$9.00M – -$8.00M	Raised
Oct 29, 2025	Transaction Value	Q4 FY2025	$620.00M – $645.00M	Raised
Oct 29, 2025	Revenue	Q4 FY2025	$280.00M – $300.00M	New
Aug 6, 2025	Adjusted EBITDA	Q3 FY2025	$25.50M – $27.50M	New
Aug 6, 2025	Transaction Value in our P&C insurance vertical	Q3 FY2025	+35%	New
Aug 6, 2025	Transaction Value in our Health insurance vertical	Q3 FY2025	-45% – -40%	Lowered
Aug 6, 2025	Transaction Value	Q3 FY2025	$545.00M – $570.00M	New
Aug 6, 2025	Revenue	Q3 FY2025	$270.00M – $290.00M	New
Apr 30, 2025	Adjusted EBITDA	Q2 FY2025	$25.00M – $27.00M	New
Apr 30, 2025	Transaction Value in our P&C insurance vertical	Q2 FY2025	+65% – +75%	New
Apr 30, 2025	Transaction Value in our Health insurance vertical	Q2 FY2025	-30% – -25%	Lowered
Apr 30, 2025	Transaction Value	Q2 FY2025	$470.00M – $495.00M	New
Apr 30, 2025	Revenue	Q2 FY2025	$235.00M – $255.00M	New
Feb 24, 2025	Adjusted EBITDA	Q1 FY2025	$24.50M – $26.50M	New
Feb 24, 2025	year-over-year growth in P&C Transaction Value	Q1 FY2025	+170%	New
Feb 24, 2025	Transaction Value	Q1 FY2025	$415.00M – $440.00M	New
Feb 24, 2025	Revenue	Q1 FY2025	$225.00M – $245.00M	New
Oct 30, 2024	Adjusted EBITDA	Q4 FY2024	$29.50M – $32.50M	New
Oct 30, 2024	Transaction Value	Q4 FY2024	$470.00M – $495.00M	New
Oct 30, 2024	Revenue	Q4 FY2024	$275.00M – $295.00M	New
Jul 31, 2024	Adjusted EBITDA	Q3 FY2024	$22.00M – $24.00M	New
Jul 31, 2024	Transaction Value in our P&C insurance vertical	Q3 FY2024	+40% – +45%	New
Jul 31, 2024	Transaction Value	Q3 FY2024	$415.00M – $435.00M	New
Jul 31, 2024	Revenue	Q3 FY2024	$240.00M – $255.00M	New
May 1, 2024	Adjusted EBITDA	Q2 FY2024	$15.50M – $17.50M	New
May 1, 2024	Transaction Value	Q2 FY2024	$285.00M – $300.00M	New
May 1, 2024	Revenue	Q2 FY2024	$145.00M – $155.00M	New
Feb 20, 2024	Adjusted EBITDA	Q1 FY2024	$9.50M – $11.50M	New
Feb 20, 2024	Transaction Value	Q1 FY2024	$175.00M – $190.00M	New
Feb 20, 2024	Revenue	Q1 FY2024	$105.00M – $115.00M	New
Nov 1, 2023	Adjusted EBITDA	Q4 FY2023	$9.50M – $11.50M	New
Nov 1, 2023	Transaction Value	Q4 FY2023	$145.00M – $160.00M	New
Nov 1, 2023	Revenue	Q4 FY2023	$106.00M – $116.00M	New
Aug 2, 2023	Adjusted EBITDA	Q3 FY2023	$1.50M – $3.50M	New
Aug 2, 2023	Transaction Value	Q3 FY2023	$95.00M – $110.00M	New
Aug 2, 2023	Revenue	Q3 FY2023	$65.00M – $75.00M	New
May 4, 2023	Adjusted EBITDA	Q2 FY2023	$500.00K – $2.50M	New
May 4, 2023	Transaction Value	Q2 FY2023	$107.00M – $122.00M	New
May 4, 2023	Revenue	Q2 FY2023	$74.00M – $84.00M	New
Feb 23, 2023	Adjusted EBITDA	Q1 FY2023	$5.50M – $7.50M	New
Feb 23, 2023	Transaction Value	Q1 FY2023	$180.00M – $195.00M	New
Feb 23, 2023	Revenue	Q1 FY2023	$106.00M – $116.00M	New
Nov 3, 2022	Adjusted EBITDA	Q4 FY2022	$5.00M – $7.00M	New
Nov 3, 2022	Transaction Value	Q4 FY2022	$155.00M – $170.00M	New
Nov 3, 2022	Revenue	Q4 FY2022	$110.00M – $120.00M	New
Aug 4, 2022	Transaction Value	Q3 FY2022	$130.00M – $145.00M	New
Aug 4, 2022	Revenue	Q3 FY2022	$77.00M – $87.00M	New
May 5, 2022	Adjusted EBITDA	Q2 FY2022	$2.50M – $5.00M	New
May 5, 2022	Transaction Value	Q2 FY2022	$180.00M – $195.00M	New
May 5, 2022	Revenue	Q2 FY2022	$110.00M – $120.00M	New
Feb 24, 2022	Adjusted EBITDA	Q1 FY2022	$5.50M – $7.50M	New
Feb 24, 2022	Transaction Value	Q1 FY2022	$230.00M – $245.00M	New
Feb 24, 2022	Revenue	Q1 FY2022	$135.00M – $145.00M	New

Read from the company's earnings releases; each figure links to its sentence on hover. “Raised” and “Lowered” compare with the previous range for the same metric and period.