MediaAlpha, Inc. (MAX) — Financial statements
Income statement, balance sheet, and cash flow for MediaAlpha, Inc. — annual and quarterly history with growth and margin analysis.
| Metric (USD Millions) | 2025 | 2024 | 2023 | 2022 | 2021 | |
|---|---|---|---|---|---|---|
| Revenue & Gross Profit | ||||||
| Revenue | 1,114↑28.8% | 865↑122.8% | 388↓15.4% | 459↓28.9% | 645 | |
| Cost of Revenue | 946↑31.2% | 721↑124.3% | 321↓17.4% | 389↓28.5% | 544 | |
| Gross Profit | 165↑14.6% | 144↑115.2% | 67↓4.8% | 70↓31.0% | 102 | |
| Operating Expenses | ||||||
| R&D Expenses | 21↑8.3% | 20↑7.1% | 18↓12.4% | 21↑38.7% | 15 | |
| General & Administrative Expenses | 90↑97.8% | 45↓22.5% | 58↑5.2% | 56↓9.5% | 61 | |
| Selling & Marketing Expenses | 21↓14.8% | 25↓2.8% | 25↓11.7% | 29↑26.3% | 23 | |
| SG&A Expenses | 111↑58.0% | 70↓16.6% | 84↓0.6% | 84↑0.2% | 84 | |
| Other Expenses | -46↓511.6% | 11↑157.8% | 4 | 0.00 | 0.00 | |
| Operating Expenses | 86↓14.4% | 101↓5.4% | 107↑1.1% | 105↑6.1% | 99 | |
| Total Costs & Expenses | 1,035↑26.0% | 822↑92.0% | 428↓13.4% | 494↓23.1% | 643 | |
| Operating Results | ||||||
| Operating Income | 78↑83.1% | 43↑207.0% | -40↓12.8% | -35↓1746.8% | 2 | |
| Depreciation & Amortization | 3↓51.3% | 7↓8.1% | 7↑18.3% | 6↑83.3% | 3 | |
| EBITDA | -97↓259.6% | 60↑313.4% | -28↑3.1% | -29↓631.5% | 6 | |
| EBIT | -100↓285.5% | 54↑251.1% | -36↓0.7% | -35↓1746.8% | 2 | |
| Interest & Other Income | ||||||
| Net Interest Income | -11↑21.7% | -14↑6.3% | -15↓65.7% | -9↓18.1% | -8 | |
| Interest Income | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Interest Expense | 11↓21.7% | 14↓6.3% | 15↑65.7% | 9↑18.1% | 8 | |
| Non-Operating Income | 178↑1705.1% | -11↓157.8% | -4 | 0.00 | 0.00 | |
| Other Income / Expenses | -189↓884.6% | -19↓12.5% | -17↓126.0% | 66↑664.2% | -12 | |
| Income Before Tax | -111↓572.6% | 24↑141.2% | -57↓287.2% | 30↑419.9% | -10 | |
| Income Tax Expense | -138↓10058.2% | 1↑398.9% | -0.46↓100.4% | 103↑9928.6% | -1 | |
| Net Income & EPS | ||||||
| Net Income from Continuing Operations | 27↑21.0% | 22↑139.1% | -57↑21.9% | -72↓754.8% | -8 | |
| Net Income from Discontinued Operations | 0.00 | 0.00 | 0.00 | 0.00 | 0.00 | |
| Net Income | 26↑54.1% | 17↑141.1% | -40↑29.9% | -58↓993.2% | -5 | |
| Bottom-Line Net Income | 26↑54.1% | 17↑141.1% | -40↑29.9% | -58↓993.2% | -5 | |
| EPS (Basic) | 0.46↑48.4% | 0.31↑134.8% | -0.89↑35.0% | -1.37↓878.6% | -0.14 | |
| EPS (Diluted) | 0.39↑25.8% | 0.31↑134.8% | -0.89↑35.0% | -1.37↓621.1% | -0.19 | |
| Weighted Average Shares | 56↑4.9% | 54↑18.1% | 45↑8.3% | 42↑47.7% | 28 | |
| Weighted Average Diluted Shares | 67↑25.9% | 53↑16.4% | 46↑8.7% | 42↓31.5% | 61 | |
* All figures in Millions of USD, except per share data. Growth rates calculated Year-over-Year (YoY). Data source: SEC Filings.