Mediaalpha Inc
NYSE:MAX
Mediaalpha Inc
MediaAlpha, Inc. is a marketing technology company that helps insurance carriers and distributors target and acquire customers through technology and data science. The company is headquartered in Los Angeles, California and currently employs 149 full-time employees. The company went IPO on 2020-10-28. The Company’s technology platform brings insurance carriers and consumers together through a real-time and transparent ecosystem. Its platform is a set of predictive analytics algorithms, which incorporates various variables to generate conversion probabilities for each unique consumer. The Company’s platform allows buyers to fully integrate first-party consumer data to enhance targeting parameters, bidding granularity and conversion tracking. Its search and conversion datasets enable automated, algorithmic customer acquisition optimizations. The Company’s search and conversion datasets enable automated, algorithmic customer acquisition optimizations. The company offers a self-service model, which enables its partners to directly manage the buying and selling process independently.
MediaAlpha, Inc. is a marketing technology company that helps insurance carriers and distributors target and acquire customers through technology and data science. The company is headquartered in Los Angeles, California and currently employs 149 full-time employees. The company went IPO on 2020-10-28. The Company’s technology platform brings insurance carriers and consumers together through a real-time and transparent ecosystem. Its platform is a set of predictive analytics algorithms, which incorporates various variables to generate conversion probabilities for each unique consumer. The Company’s platform allows buyers to fully integrate first-party consumer data to enhance targeting parameters, bidding granularity and conversion tracking. Its search and conversion datasets enable automated, algorithmic customer acquisition optimizations. The Company’s search and conversion datasets enable automated, algorithmic customer acquisition optimizations. The company offers a self-service model, which enables its partners to directly manage the buying and selling process independently.
Record Year: MediaAlpha achieved several milestones in 2025, surpassing $2 billion in transaction value, $1 billion in revenue, and $100 million in adjusted EBITDA for the first time.
Strong P&C Growth: The P&C insurance vertical drove results, with 65% annual growth and 38% year-over-year growth in Q4, offsetting declines in the health insurance segment.
Cash Flow & Buybacks: The company generated $99 million in free cash flow and repurchased $47 million of shares (about 7% of shares outstanding). The buyback program was increased to $100 million.
Q4 Performance: Q4 adjusted EBITDA exceeded the high end of guidance, while revenue grew 9% year-over-year excluding Under-65 Health.
Optimistic 2026 Outlook: Management expects continued momentum in P&C, with Q1 2026 revenue guidance well above consensus, and projects $90–$100 million in free cash flow for 2026.
AI & Platform Differentiation: MediaAlpha sees AI as enhancing its platform and expects it to remain the essential infrastructure connecting carriers and shoppers, regardless of where searches originate.
