MediaAlpha, Inc. (MAX)

From the record

MediaAlpha, Inc.'s filings since 2020 show no warning events in the scan: no bankruptcy or receivership notice, no debt default notice, no exchange listing notice, no restatement warning, no auditor change, no material cyber incident and no late-report notice (its current reports).

From the record

MediaAlpha, Inc.'s 8 filed years say what it did: revenue went from $297 million in fiscal 2018 to $1.1 billion in fiscal 2025, up 20.8% a year; it rose in 5 of 7 years; the deepest fall was 40% from fiscal 2021 to fiscal 2023; net income was positive in 5 of 8 of those years (its annual reports).

From the record

Over the 3 fiscal years to 2025-12-31, MediaAlpha, Inc.'s diluted share count grew about 16.8% a year, and dividends and buybacks returned about 0% of its operating cash flow over 3 years (its filed statements). Its officers and directors filed 341 sales (331 under scheduled 10b5-1 plans) and 0 purchases of their own stock on the open market in the year to 2026-11-12 (their Form 4 filings).

From the record

Return on equity: in the fiscal year ended 2025-12-31, MediaAlpha, Inc.'s shareholders' equity was below zero, so the profit on it is not read, and gross profitability: its products earned about 44 cents per dollar of everything the company owns (revenue less the cost of revenue). Leverage: it owed about 108 cents per dollar of assets, and net share issuance: its share count grew 25.9% over the year (the filed statements).

From the record

MediaAlpha, Inc.'s standing among 101 graded names in its industry family: revenue of $1.1 billion in fiscal 2025 ranks in the top 48% by size; a net margin of 2.4% ranks in the bottom 45%; revenue growth of 34.4% a year over the last 3 filed years ranks in the top 12% (its annual reports).

From the record

MediaAlpha, Inc.'s leadership, from its insiders' filings and its current reports: no one files under a chief executive's title, so that part is not read; the 12 officers and directors filing in the last fifteen months have been on the record a median of 6 years (top 38%); 13 officer or director changes were reported on Form 8-K since 2023-11-13, against the 12 people in charge now (bottom 7%; fewer changes for each person reads higher) (the Form 4 record, its Form 8-K reports). Years count from a person's first filing in the SEC's data sets, which begin in 2006, so each is a floor.

From the record

MediaAlpha, Inc.'s room to grow, from the newest filed statements (fiscal 2025): cash of $47 million against debt of $132 million leaves -22.1% of its assets as net cash, bottom 21% of its family; cash from operations less capital spending is 5.9% of revenue (bottom 37%); a gross margin of 15% (bottom 17%); research spending of 1.9% of revenue (bottom 16%) (its annual report).

From the record

MediaAlpha, Inc.'s growth drivers, from the filed years to fiscal 2025: revenue grew 34.4% a year over the last three filed years against 20.8% over all 8, speeding up (top 4% of its family); the newest year grew 28.8% (top 18%); research spending grew 0.5% a year (bottom 40%); capital spending grew 51.4% a year (top 12%) (its annual reports). MediaAlpha, Inc. reported 4 product lines in fiscal 2025: Property and Casualty Insurance at $1.0 billion (90%), Health Insurance at $86 million (8%), Life Insurance at $22 million (2%), and 1 more; 1 of 4 grew against the year before (its annual report).

From the record

MediaAlpha, Inc.'s newest year against its own record: revenue of $1.1 billion in fiscal 2025 came in 6.1% below the $1.2 billion its prior three years' pace pointed to (bottom 27% of its family); net income of $27 million against a prior three-year average of $36 million (top 19%); a net margin of 2.4% against -9.3% before (top 34%) (its annual reports).