MediaAlpha, Inc.

For the period ended Sep 30, 2025. Filed Oct 29, 2025.

About this filing

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$14.37+1.5%Stored close · as of Nov 10, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

See the whole filing, with its images and exhibits

Contents

Consolidated Statements of Operations

(Unaudited; in thousands, except share data and per share amounts)

	Three Months EndedSeptember 30,		Nine Months EndedSeptember 30,
	2025	2024	2025	2024
Revenue	$306,514	$259,133	$822,445	$564,056
Costs and operating expenses
Cost of revenue	263,108	219,907	699,713	469,465
Sales and marketing	5,224	6,496	16,078	18,608
Product development	5,829	5,328	16,068	14,743
General and administrative	12,620	11,794	77,363	36,767
Write-off of intangible assets	—	—	13,416	—
Total costs and operating expenses	286,781	243,525	822,638	539,583
Income (loss) from operations	19,733	15,608	(193)	24,473
Other (income), net	(772)	(154)	(1,923)	(1,971)
Interest expense	2,808	3,562	8,633	11,158
Total other expense, net	2,036	3,408	6,710	9,187
Income (loss) before income taxes	17,697	12,200	(6,903)	15,286
Income tax expense	54	312	321	469
Net income (loss)	$17,643	$11,888	$(7,224)	$14,817
Net income (loss) attributable to non-controlling interest	2,736	2,406	(1,441)	2,828
Net income (loss) attributable to MediaAlpha, Inc.	$14,907	$9,482	$(5,783)	$11,989
Net income (loss) per share of Class A common stock
-Basic	$0.26	$0.17	$(0.10)	$0.23
-Diluted	$0.26	$0.17	$(0.11)	$0.22
Weighted average shares of Class A common stock outstanding
-Basic	56,617,837	54,909,772	56,134,035	52,293,622
-Diluted	56,617,837	54,909,772	67,420,272	66,087,041

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.