MAX
MediaAlpha Inc.
NYSE: MAX · COMMUNICATION SERVICES · INTERNET CONTENT & INFORMATION
$8.51
-14.90% today
Updated 2026-04-30
Market cap
$544.52M
P/E ratio
25.31
P/S ratio
0.49x
EPS (TTM)
$0.39
Dividend yield
—
52W range
$7 – $14
Volume
0.8M
MediaAlpha Inc. (MAX) Financial statements
SEC filings — annual and quarterly data.
Income statement — annual
| Item | 2018 | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $296.91M | $408.00M | $584.81M | $645.27M | $459.07M | $388.15M | $864.70M | $1.11B |
| Revenue growth (YoY) | — | +37.4% | +43.3% | +10.3% | -28.9% | -15.4% | +122.8% | +28.8% |
| Cost of revenue | $247.67M | $342.91M | $499.43M | $543.75M | $389.01M | $321.44M | $721.13M | $946.06M |
| Gross profit | $49.24M | $65.10M | $85.38M | $101.52M | $70.06M | $66.71M | $143.57M | $164.56M |
| Gross margin | 16.6% | 16.0% | 14.6% | 15.7% | 15.3% | 17.2% | 16.6% | 14.8% |
| R&D | $10.34M | $7.04M | $12.45M | $15.20M | $21.08M | $18.46M | $19.76M | $21.40M |
| SG&A | $7.84M | $19.39M | $32.91M | $61.36M | $55.56M | $58.44M | $45.27M | $89.56M |
| Operating income | $19.32M | $24.84M | $19.54M | $2.15M | $-35.39M | $-39.92M | $42.73M | $78.22M |
| Operating margin | 6.5% | 6.1% | 3.3% | 0.3% | -7.7% | -10.3% | 4.9% | 7.0% |
| EBITDA | $31.27M | $30.49M | $23.02M | $5.50M | $-29.24M | $-28.35M | $60.50M | $-96.57M |
| EBITDA margin | 10.5% | 7.5% | 3.9% | 0.9% | -6.4% | -7.3% | 7.0% | -8.7% |
| EBIT | $19.32M | $24.84M | $19.54M | $2.15M | $-35.39M | $-35.62M | $53.82M | $-99.82M |
| Interest expense | $1.19M | $7.02M | $7.94M | $7.83M | $9.24M | $15.31M | $14.35M | $11.24M |
| Income tax | $11.79M | $7.02M | $-1.27M | $-1.05M | $102.91M | $-463000.00 | $1.38M | — |
| Effective tax rate | 39.4% | 28.3% | -9.4% | 16.6% | 227.5% | 1.1% | 7.7% | 0.0% |
| Net income | $18.13M | $17.82M | $14.80M | $-5.28M | $-57.67M | $-40.42M | $16.63M | $25.62M |
| Net income growth (YoY) | — | -1.7% | -16.9% | -135.6% | -993.2% | +29.9% | +141.1% | +54.1% |
| Profit margin | 6.1% | 4.4% | 2.5% | -0.8% | -12.6% | -10.4% | 1.9% | 2.3% |