# MediaAlpha, Inc.: financial statements, quarterly MAX · NYSE · CIK 1818383 · [Industrials](/sectors/industrials.md) · fiscal year ends Dec 31 Pages: [Overview](/companies/max.md) · [Financials](/companies/max/financials.md) · [Filings](/companies/max/filings.md) · [Insiders](/companies/max/insiders.md) Standardized line items from XBRL company facts. Each value links to its filing; d marks a value derived from year-to-date figures. Other view: [annual](/companies/max/financials.md?period=annual). ## Income statement | Line item | Unit | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) | | --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Revenue | $m | [117 d](/filings/0001818383-26-000049.md) | [127](/filings/0001818383-25-000058.md) | [178](/filings/0001818383-25-000097.md) | [259](/filings/0001818383-25-000126.md) | [301 d](/filings/0001818383-26-000049.md) | [264](/filings/0001818383-26-000118.md) | [252](/filings/0001818383-26-000200.md) | [307](/filings/0001818383-26-000264.md) | [291 d](/filings/0001818383-26-000049.md) | [310](/filings/0001818383-26-000118.md) | [317](/filings/0001818383-26-000200.md) | [376](/filings/0001818383-26-000264.md) | | Cost of revenue | $m | [94.9 d](/filings/0001818383-26-000049.md) | [103](/filings/0001818383-25-000058.md) | [147](/filings/0001818383-25-000097.md) | [220](/filings/0001818383-25-000126.md) | [252 d](/filings/0001818383-26-000049.md) | [223](/filings/0001818383-26-000118.md) | [214](/filings/0001818383-26-000200.md) | [263](/filings/0001818383-26-000264.md) | [246 d](/filings/0001818383-26-000049.md) | [263](/filings/0001818383-26-000118.md) | [272](/filings/0001818383-26-000200.md) | [321](/filings/0001818383-26-000264.md) | | Research and development | $m | [3.9 d](/filings/0001818383-26-000049.md) | [4.4](/filings/0001818383-25-000058.md) | [5.1](/filings/0001818383-25-000097.md) | [5.3](/filings/0001818383-25-000126.md) | [5.0 d](/filings/0001818383-26-000049.md) | [4.9](/filings/0001818383-26-000118.md) | [5.4](/filings/0001818383-26-000200.md) | [5.8](/filings/0001818383-26-000264.md) | [5.3 d](/filings/0001818383-26-000049.md) | [5.5](/filings/0001818383-26-000118.md) | [6.0](/filings/0001818383-26-000200.md) | [6.2](/filings/0001818383-26-000264.md) | | Operating income | $m | [0.4 d](/filings/0001818383-26-000049.md) | [2.4](/filings/0001818383-25-000058.md) | [6.5](/filings/0001818383-25-000097.md) | [15.6](/filings/0001818383-25-000126.md) | [18.3 d](/filings/0001818383-26-000049.md) | [0.1](/filings/0001818383-26-000118.md) | [(20.0)](/filings/0001818383-26-000200.md) | [19.7](/filings/0001818383-26-000264.md) | [22.3 d](/filings/0001818383-26-000049.md) | [22.4](/filings/0001818383-26-000118.md) | [20.0](/filings/0001818383-26-000200.md) | [28.8](/filings/0001818383-26-000264.md) | | Interest expense | $m | [3.9 d](/filings/0001818383-24-000011.md) | [3.8](/filings/0001818383-24-000038.md) | [3.8](/filings/0001818383-25-000097.md) | [3.6](/filings/0001818383-25-000126.md) | [3.2 d](/filings/0001818383-26-000049.md) | [3.0](/filings/0001818383-26-000118.md) | [2.9](/filings/0001818383-26-000200.md) | [2.8](/filings/0001818383-26-000264.md) | [2.6 d](/filings/0001818383-26-000049.md) | [2.4](/filings/0001818383-26-000118.md) | [2.8](/filings/0001818383-26-000200.md) | [2.8](/filings/0001818383-26-000264.md) | | Income tax | $m | [(0.8) d](/filings/0001818383-26-000049.md) | [0.0](/filings/0001818383-25-000058.md) | [0.1](/filings/0001818383-25-000097.md) | [0.3](/filings/0001818383-25-000126.md) | [0.9 d](/filings/0001818383-26-000049.md) | [(0.0)](/filings/0001818383-26-000118.md) | [0.3](/filings/0001818383-26-000200.md) | [0.1](/filings/0001818383-26-000264.md) | [(138) d](/filings/0001818383-26-000049.md) | [6.5](/filings/0001818383-26-000118.md) | [13.3](/filings/0001818383-26-000200.md) | [7.8](/filings/0001818383-26-000264.md) | | Net income | $m | [(2.4) d](/filings/0001818383-26-000049.md) | [(1.1)](/filings/0001818383-25-000058.md) | [3.6](/filings/0001818383-25-000097.md) | [9.5](/filings/0001818383-25-000126.md) | [4.6 d](/filings/0001818383-26-000049.md) | [(1.9)](/filings/0001818383-26-000118.md) | [(18.7)](/filings/0001818383-26-000200.md) | [14.9](/filings/0001818383-26-000264.md) | [31.4 d](/filings/0001818383-26-000049.md) | [11.5](/filings/0001818383-26-000118.md) | [39.4](/filings/0001818383-26-000200.md) | [25.8](/filings/0001818383-26-000264.md) | | Diluted EPS | $ per share | not reported | [(0.02)](/filings/0001818383-25-000058.md) | [0.07](/filings/0001818383-25-000097.md) | [0.17](/filings/0001818383-25-000126.md) | not reported | [(0.04)](/filings/0001818383-26-000118.md) | [(0.33)](/filings/0001818383-26-000200.md) | [0.26](/filings/0001818383-26-000264.md) | not reported | [0.21](/filings/0001818383-26-000118.md) | [0.65](/filings/0001818383-26-000200.md) | [0.46](/filings/0001818383-26-000264.md) | | Basic EPS | $ per share | not reported | [(0.02)](/filings/0001818383-25-000058.md) | [0.07](/filings/0001818383-25-000097.md) | [0.17](/filings/0001818383-25-000126.md) | not reported | [(0.04)](/filings/0001818383-26-000118.md) | [(0.33)](/filings/0001818383-26-000200.md) | [0.26](/filings/0001818383-26-000264.md) | not reported | [0.21](/filings/0001818383-26-000118.md) | [0.73](/filings/0001818383-26-000200.md) | [0.49](/filings/0001818383-26-000264.md) | - Revenue: us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax - Cost of revenue: us-gaap:CostOfRevenue - Research and development: us-gaap:ResearchAndDevelopmentExpense - Operating income: us-gaap:OperatingIncomeLoss - Interest expense: us-gaap:InterestExpense, us-gaap:InterestExpenseNonoperating - Income tax: us-gaap:IncomeTaxExpenseBenefit - Net income: us-gaap:NetIncomeLoss - Diluted EPS: us-gaap:EarningsPerShareDiluted - Basic EPS: us-gaap:EarningsPerShareBasic ## Balance sheet | Line item | Unit | FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) | | --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Cash and equivalents | $m | [17.3](/filings/0001818383-25-000022.md) | [14.5](/filings/0001818383-24-000038.md) | [28.7](/filings/0001818383-24-000062.md) | [32.3](/filings/0001818383-24-000093.md) | [43.3](/filings/0001818383-26-000049.md) | [63.6](/filings/0001818383-25-000058.md) | [85.4](/filings/0001818383-25-000097.md) | [38.8](/filings/0001818383-25-000126.md) | [46.9](/filings/0001818383-26-000264.md) | [26.1](/filings/0001818383-26-000118.md) | [23.7](/filings/0001818383-26-000200.md) | [18.7](/filings/0001818383-26-000264.md) | | Current assets | $m | [74.6](/filings/0001818383-25-000022.md) | [75.6](/filings/0001818383-24-000038.md) | [123](/filings/0001818383-24-000062.md) | [162](/filings/0001818383-24-000093.md) | [190](/filings/0001818383-26-000049.md) | [182](/filings/0001818383-25-000058.md) | [192](/filings/0001818383-25-000097.md) | [206](/filings/0001818383-25-000126.md) | [174](/filings/0001818383-26-000264.md) | [165](/filings/0001818383-26-000118.md) | [171](/filings/0001818383-26-000200.md) | [193](/filings/0001818383-26-000264.md) | | Total assets | $m | [154](/filings/0001818383-25-000022.md) | [153](/filings/0001818383-24-000038.md) | [198](/filings/0001818383-24-000062.md) | [236](/filings/0001818383-24-000093.md) | [262](/filings/0001818383-26-000049.md) | [240](/filings/0001818383-25-000058.md) | [249](/filings/0001818383-25-000097.md) | [266](/filings/0001818383-25-000126.md) | [384](/filings/0001818383-26-000264.md) | [368](/filings/0001818383-26-000118.md) | [360](/filings/0001818383-26-000200.md) | [372](/filings/0001818383-26-000264.md) | | Current liabilities | $m | [79.7](/filings/0001818383-25-000022.md) | [76.3](/filings/0001818383-24-000038.md) | [111](/filings/0001818383-24-000062.md) | [133](/filings/0001818383-24-000093.md) | [133](/filings/0001818383-26-000049.md) | [109](/filings/0001818383-25-000058.md) | [149](/filings/0001818383-25-000097.md) | [190](/filings/0001818383-25-000126.md) | [148](/filings/0001818383-26-000264.md) | [113](/filings/0001818383-26-000118.md) | [133](/filings/0001818383-26-000200.md) | [146](/filings/0001818383-26-000264.md) | | Total liabilities | $m | [248](/filings/0001818383-25-000022.md) | [242](/filings/0001818383-24-000038.md) | [276](/filings/0001818383-24-000062.md) | [296](/filings/0001818383-24-000093.md) | [309](/filings/0001818383-26-000049.md) | [281](/filings/0001818383-25-000058.md) | [306](/filings/0001818383-25-000097.md) | [332](/filings/0001818383-25-000126.md) | [413](/filings/0001818383-26-000264.md) | [397](/filings/0001818383-26-000118.md) | [365](/filings/0001818383-26-000200.md) | [352](/filings/0001818383-26-000264.md) | | Long-term debt | $m | [162](/filings/0001818383-25-000022.md) | [160](/filings/0001818383-24-000038.md) | [158](/filings/0001818383-24-000062.md) | [156](/filings/0001818383-24-000093.md) | [154](/filings/0001818383-26-000049.md) | [151](/filings/0001818383-25-000058.md) | [149](/filings/0001818383-25-000097.md) | [134](/filings/0001818383-25-000126.md) | [132](/filings/0001818383-26-000264.md) | [156](/filings/0001818383-26-000118.md) | [170](/filings/0001818383-26-000200.md) | [168](/filings/0001818383-26-000264.md) | | Current portion of debt | $m | [11.9](/filings/0001818383-25-000022.md) | [11.9](/filings/0001818383-24-000038.md) | [8.8](/filings/0001818383-24-000062.md) | [8.8](/filings/0001818383-24-000093.md) | [8.8](/filings/0001818383-26-000049.md) | [8.9](/filings/0001818383-25-000058.md) | [8.9](/filings/0001818383-25-000097.md) | [22.0](/filings/0001818383-25-000126.md) | [21.8](/filings/0001818383-26-000264.md) | [7.2](/filings/0001818383-26-000118.md) | [7.2](/filings/0001818383-26-000200.md) | [7.2](/filings/0001818383-26-000264.md) | | Shareholders' equity | $m | [(10.3)](/filings/0001818383-25-000022.md) | [(19.1)](/filings/0001818383-24-000038.md) | [(24.4)](/filings/0001818383-24-000062.md) | [(8.4)](/filings/0001818383-24-000093.md) | [2.4](/filings/0001818383-26-000049.md) | [7.9](/filings/0001818383-25-000058.md) | [(3.8)](/filings/0001818383-25-000097.md) | [(29.8)](/filings/0001818383-25-000126.md) | [4.2](/filings/0001818383-26-000264.md) | [1.9](/filings/0001818383-26-000118.md) | [28.4](/filings/0001818383-26-000200.md) | [51.3](/filings/0001818383-26-000264.md) | - Cash and equivalents: us-gaap:CashAndCashEquivalentsAtCarryingValue - Current assets: us-gaap:AssetsCurrent - Total assets: us-gaap:Assets - Current liabilities: us-gaap:LiabilitiesCurrent - Total liabilities: us-gaap:Liabilities - Long-term debt: us-gaap:LongTermDebtNoncurrent - Current portion of debt: us-gaap:LongTermDebtCurrent - Shareholders' equity: us-gaap:StockholdersEquity ## Cash flow | Line item | Unit | Q4 FY2023 (2023-12-31) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q4 FY2024 (2024-12-31) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q4 FY2025 (2025-12-31) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) | | --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Operating cash flow | $m | [5.3 d](/filings/0001818383-26-000049.md) | [1.7](/filings/0001818383-25-000058.md) | [21.6 d](/filings/0001818383-25-000097.md) | [8.1 d](/filings/0001818383-25-000126.md) | [14.5 d](/filings/0001818383-26-000049.md) | [23.7](/filings/0001818383-26-000118.md) | [25.7 d](/filings/0001818383-26-000200.md) | [23.6 d](/filings/0001818383-26-000264.md) | [(7.4) d](/filings/0001818383-26-000049.md) | [(1.6)](/filings/0001818383-26-000118.md) | [42.6 d](/filings/0001818383-26-000200.md) | [21.6 d](/filings/0001818383-26-000264.md) | | Capital expenditure | $m | [0.0 d](/filings/0001818383-26-000049.md) | [0.0](/filings/0001818383-25-000058.md) | [0.1 d](/filings/0001818383-25-000097.md) | [0.0 d](/filings/0001818383-25-000126.md) | [0.0 d](/filings/0001818383-26-000049.md) | [0.1](/filings/0001818383-26-000118.md) | [0.2 d](/filings/0001818383-26-000200.md) | [0.1 d](/filings/0001818383-26-000264.md) | [0.0 d](/filings/0001818383-26-000049.md) | [0.0](/filings/0001818383-26-000118.md) | [0.8 d](/filings/0001818383-26-000200.md) | [0.1 d](/filings/0001818383-26-000264.md) | - Operating cash flow: us-gaap:NetCashProvidedByUsedInOperatingActivities - Capital expenditure: us-gaap:PaymentsToAcquirePropertyPlantAndEquipment ## Shares | Line item | Unit | Q1 FY2023 (2023-03-31) | Q2 FY2023 (2023-06-30) | Q3 FY2023 (2023-09-30) | Q1 FY2024 (2024-03-31) | Q2 FY2024 (2024-06-30) | Q3 FY2024 (2024-09-30) | Q1 FY2025 (2025-03-31) | Q2 FY2025 (2025-06-30) | Q3 FY2025 (2025-09-30) | Q1 FY2026 (2026-03-31) | Q2 FY2026 (2026-06-30) | Q3 FY2026 (2026-09-30) | | --- | --- | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | ---: | | Diluted shares (weighted) | millions of shares | [43.9](/filings/0001818383-24-000038.md) | [45.2](/filings/0001818383-24-000062.md) | [46.2](/filings/0001818383-24-000093.md) | [48.6](/filings/0001818383-25-000058.md) | [53.4](/filings/0001818383-25-000097.md) | [54.9](/filings/0001818383-25-000126.md) | [55.6](/filings/0001818383-26-000118.md) | [56.1](/filings/0001818383-26-000200.md) | [56.6](/filings/0001818383-26-000264.md) | [55.8](/filings/0001818383-26-000118.md) | [62.1](/filings/0001818383-26-000200.md) | [62.8](/filings/0001818383-26-000264.md) | - Diluted shares (weighted): us-gaap:WeightedAverageNumberOfDilutedSharesOutstanding Source: SEC EDGAR, XBRL company facts. Last ingested by Listed: Oct 29, 2026, 04:37 ET. No prices; not investment advice.