MediaAlpha, Inc.
For the period ended Sep 30, 2025. Filed Oct 29, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Oct 29, 2025
MAX$14.16-0.3%Stored close · as of Nov 9, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
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Consolidated Balance Sheets
(Unaudited; in thousands, except share data and per share amounts)
| September 30,2025 | December 31,2024 | |
|---|---|---|
| Assets | ||
| Current assets | ||
| Cash and cash equivalents | $38,841 | $43,266 |
| Restricted cash | 33,500 | — |
| Accounts receivable, net of allowance for credit losses of $958 and $1,005, respectively | 129,171 | 142,932 |
| Prepaid expenses and other current assets | 4,226 | 3,711 |
| Total current assets | 205,738 | 189,909 |
| Intangible assets, net | 4,102 | 19,985 |
| Goodwill | 47,739 | 47,739 |
| Other assets | 8,651 | 4,814 |
| Total assets | $266,230 | $262,447 |
| Liabilities and stockholders' deficit | ||
| Current liabilities | ||
| Accounts payable | $102,681 | $105,563 |
| Accrued expenses | 65,001 | 18,542 |
| Current portion of long-term debt | 22,001 | 8,849 |
| Total current liabilities | 189,683 | 132,954 |
| Long-term debt, net of current portion | 133,686 | 153,596 |
| Liabilities under tax receivables agreement, net of current portion | — | 7,006 |
| Other long-term liabilities | 8,638 | 15,123 |
| Total liabilities | $332,007 | $308,679 |
| Commitments and contingencies (Note 5) | ||
| Stockholders' deficit | ||
| Class A common stock, $0.01 par value - 1.0 billion shares authorized; 56.9 million and 55.5 million shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | 569 | 555 |
| Class B common stock, $0.01 par value - 100 million shares authorized; 8.3 million and 11.6 million shares issued and outstanding as of September 30, 2025 and December 31, 2024, respectively | 83 | 116 |
| Preferred stock, $0.01 par value - 50 million shares authorized; 0 shares issued and outstanding as of September 30, 2025 and December 31, 2024 | — | — |
| Additional paid-in capital | 481,309 | 507,640 |
| Accumulated deficit | (511,716) | (505,933) |
| Total stockholders' (deficit) equity attributable to MediaAlpha, Inc. | $(29,755) | $2,378 |
| Non-controlling interests | (36,022) | (48,610) |
| Total stockholders' deficit | $(65,777) | $(46,232) |
| Total liabilities and stockholders' deficit | $266,230 | $262,447 |
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