MAX

Quarterly earnings results are a good time to check in on a company’s progress, especially compared to its peers in the same sector. Today we are looking at MediaAlpha (NYSE:MAX) and the best and worst performers in the advertising & marketing services industry. The sector is on the precipice of both disruption and growth as AI, programmatic advertising, and data-driven marketing reshape how things are done. For example, the advent of the Internet broadly and programmatic advertising specifically means that brand building is not a relationship business anymore but instead one based on data and technology, which could hurt traditional ad agencies. On the other hand, the companies in the sector that beef up their tech chops by automating the buying of ad inventory or facilitating omnichannel marketing, for example, stand to benefit. With or without advances in digitization and AI, the sector is still highly levered to the macro, and economic uncertainty may lead to fluctuating ad spend, particularly in cyclical industries. The 6 advertising & marketing services stocks we track reported a strong Q1. As a group, revenues beat analysts’ consensus estimates by 2.3% while next quarter’s revenue guidance was 0.6% below. While some advertising & marketing services stocks have fared somewhat better than others, they have collectively declined. On average, share prices are down 2.9% since the latest earnings results. Powering nearly 10 million consumer referrals each month in the insurance marketplace, MediaAlpha (NYSE:MAX) operates a technology platform that connects insurance carriers with high-intent consumers shopping for property, casualty, health, and life insurance products. MediaAlpha reported revenues of $310 million, up 17.3% year on year. This print exceeded analysts’ expectations by 3.5%. Despite the top-line beat, it was still a mixed quarter for the company with a solid beat of analysts’ revenue estimates but a significant miss of analysts’ EPS estimates. “We delivered record first-quarter results, driven by strong auto insurance advertising spend and broader carrier participation resulting in a continued favorable mix shift to our Open Marketplace,” said Steve Yi, CEO of MediaAlpha. The stock is down 16.4% since reporting and currently trades at $8.36. Is now the time to buy MediaAlpha? Access our full analysis of the earnings results here, it’s free. Of...

Investors were disappointed with MediaAlpha, Inc.'s (NYSE:MAX) earnings, despite the strong profit numbers. Our analysis uncovered some concerning factors that we believe the market might be paying attention to. Trump has pledged to "unleash" American oil and gas and these 15 US stocks have developments that are poised to benefit. For anyone who wants to understand MediaAlpha's profit beyond the statutory numbers, it's important to note that during the last twelve months statutory profit was reduced by US$160m due to unusual items. While deductions due to unusual items are disappointing in the first instance, there is a silver lining. When we analysed the vast majority of listed companies worldwide, we found that significant unusual items are often not repeated. And, after all, that's exactly what the accounting terminology implies. MediaAlpha took a rather significant hit from unusual items in the year to March 2026. As a result, we can surmise that the unusual items made its statutory profit significantly weaker than it would otherwise be. That might leave you wondering what analysts are forecasting in terms of future profitability. Luckily, you can click here to see an interactive graph depicting future profitability, based on their estimates. Having already discussed the impact of the unusual items, we should also note that MediaAlpha received a tax benefit of US$131m. This is meaningful because companies usually pay tax rather than receive tax benefits. The receipt of a tax benefit is obviously a good thing, on its own. However, our data indicates that tax benefits can temporarily boost statutory profit in the year it is booked, but subsequently profit may fall back. Assuming the tax benefit is not repeated every year, we could see its profitability drop noticeably, all else being equal. While we think it's good that the company has booked a tax benefit, it does mean that there's every chance the statutory profit will come in a lot higher than it would be if the income was adjusted for one-off factors. In its last report MediaAlpha received a tax benefit which might make its profit look better than it really is on a underlying level. Having said that, it also had a unusual item reducing its profit. Based on these factors, it's hard to tell if MediaAlpha's profits are a reasonable reflection of its underlying profitability. So if you'd like to dive deepe...

First Quarter Revenue Growth of 17%; Record Revenue of $310.0 million First Quarter Net Income of $14.0 million; Adjusted EBITDA(1)of $31.4 million Repurchased over $25 million of stock during 2026 LOS ANGELES, April 29, 2026 (GLOBE NEWSWIRE) -- MediaAlpha, Inc. (NYSE: MAX) ("MediaAlpha" or the "Company"), today announced its financial results for the first quarter ended March 31, 2026. “We delivered record first-quarter results, driven by strong auto insurance advertising spend and broader carrier participation resulting in a continued favorable mix shift to our Open Marketplace,” said Steve Yi, CEO of MediaAlpha. “We are energized by our deeper engagement with a growing number of carriers about further leveraging our trusted infrastructure and AI-powered targeting capabilities to maximize their ROI and gain share in a highly competitive market.” MediaAlpha CFO Pat Thompson added, “During the quarter, we refinanced our credit facilities, extending our debt maturity profile to 2031. We continue to return significant capital to our shareholders, repurchasing over $25 million of stock year to date and $73 million over the past three quarters, representing 10% of our outstanding shares. We remain on track to complete the vast majority of the remaining $60 million authorization in 2026.” First Quarter 2026 Financial Results Revenue of $310.0 million, an increase of 17% year over year; Gross margin of 15.1%, compared with 15.8% in the first quarter of 2025; Contribution Margin(1) of 15.7%, compared with 16.6% in the first quarter of 2025; Net income was $14.0 million, compared with a net loss of $(2.3) million in the first quarter of 2025; Adjusted EBITDA(1) was $31.4 million, compared with $29.4 million in the first quarter of 2025; Repurchased approximately 2.6 million shares for $25 million year to date, bringing cumulative repurchases under the Company's $100 million share repurchase program to 3.7 million shares; Completed refinancing of credit facilities, establishing a new $150 million term loan and $60 million revolving credit facility, both maturing in March 2031. (1)A reconciliation of GAAP to Non-GAAP financial measures has been provided at the end of this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.” Financial Outlook Our guidance for the second quarter of 2026 reflects continue...

Record results were driven by a favorable mix shift toward the high-margin open marketplace as non-leading carriers increased their spend to gain market share. Management attributes the P&C vertical's strength to a secular shift where carriers are pivoting from agent-based commissions to direct-to-consumer online performance marketing. The company maintains a significant scale advantage, estimated at 3x its nearest competitor, which fuels proprietary data and predictive AI optimizations for better partner outcomes. Carriers are currently prioritizing policy growth and competing aggressively by lowering rates, supported by underwriting margins that, while beginning to decline from record levels, remain robust by historical standards. A strategic shift by a leading LLM toward advertising monetization is viewed as a significant tailwind that could accelerate referral traffic over the next 2 to 3 years. The company is positioning itself as the core infrastructure layer for insurance shoppers, launching a ChatGPT-powered experience to simplify the consumer journey while maintaining carrier brand control. Q2 guidance assumes a $2 million year-over-year decline in contribution from the under 65 Health segment as the company narrows participation to carriers only. Management expects P&C growth rates to moderate in the second half of 2026 as the company begins to lap increasingly strong prior-year comparisons. The company anticipates generating between $90 million and $100 million in free cash flow for the full year 2026. Strategic focus remains on utilizing free cash flow for shareholder returns, with plans to complete the vast majority of the remaining $60 million of a $100 million share repurchase authorization in 2026. Future growth is expected from the 'body of demand' as top 15-20 carriers currently allocate only 2-3% of budgets to the marketplace versus a benchmark potential of 10-20%. The company completed a debt refinancing, extending its maturity profile to 2031 with a new $150 million term loan and $60 million revolver. Q1 cash flow was impacted by one-time and annual items, including an $11.5 million final payment to the FTC and annual employee bonuses. MediaAlpha is discontinuing the reporting of 'transaction value' to align with public peers and focus on revenue and contribution metrics. Macroeconomic factors like rising gas prices present a mixed outlo...

This article first appeared on GuruFocus. Release Date: April 29, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. MediaAlpha Inc (NYSE:MAX) delivered record results across all key financial metrics in Q1 2026, with revenue and adjusted EBITDA exceeding guidance. The company experienced strong growth in auto insurance carrier spend, with a favorable mix shift towards their higher-margin open marketplace. MediaAlpha Inc (NYSE:MAX) is leveraging its proprietary data and AI optimizations to drive better outcomes for partners, enhancing its competitive advantage. The company has successfully completed the refinancing of its credit facilities, extending debt maturity and enhancing financial flexibility. MediaAlpha Inc (NYSE:MAX) has returned over $25 million of capital to shareholders through share repurchases, demonstrating a commitment to maximizing shareholder value. The under-65 health insurance business continues to diminish, aligning with the company's strategic plans but potentially impacting revenue diversity. Q1 cash flow was impacted by a significant $11.5 million payment to the FTC and other annual expenses, affecting free cash flow conversion. The company is changing its guidance presentation by removing transaction value reporting, which some investors found helpful for evaluating performance. There is potential macroeconomic uncertainty, including rising gas prices and inflation fears, which could impact the insurance industry and MediaAlpha Inc (NYSE:MAX)'s business. Growth rates are expected to moderate in the latter half of 2026 as the company laps strong prior-year comparisons, indicating potential challenges in maintaining high growth momentum. Warning! GuruFocus has detected 3 Warning Signs with MAX. Is MAX fairly valued? Test your thesis with our free DCF calculator. Q: Steve, could you go into a bit more detail and specifics about the LLM comments that you made? You seem to suggest a strategy shift in an LLM that's monetizing advertising leads. Could you add some more details and specifics around that? A: Steve Yee, CEO: What I was referring to was OpenAI's announcement that ChatGPT was going to increase reliance on advertising monetization. They aim to generate about $100 billion in ad revenue by 2030, which is about 4x the previous forecast. This shift to an advertising model is posi...

MediaAlpha, Inc. (MAX) came out with quarterly earnings of $0.21 per share, missing the Zacks Consensus Estimate of $0.25 per share. This compares to earnings of $0.15 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of -17.09%. A quarter ago, it was expected that this company would post earnings of $0.25 per share when it actually produced earnings of $0.5, delivering a surprise of +100%. Over the last four quarters, the company has surpassed consensus EPS estimates three times. MediaAlpha, which belongs to the Zacks Technology Services industry, posted revenues of $310 million for the quarter ended March 2026, surpassing the Zacks Consensus Estimate by 5.22%. This compares to year-ago revenues of $264.31 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. MediaAlpha shares have lost about 22.7% since the beginning of the year versus the S&P 500's gain of 4.3%. While MediaAlpha has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for MediaAlpha was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) sto...

MediaAlpha reported Q1 revenue of $310 million—above guidance—and adjusted EBITDA of $31.4 million, driven by a mix shift to its open marketplace as auto-insurance carrier spend broadened. The company completed a refinancing with a $150 million senior secured term loan and a $60 million revolver (maturing March 2031), ended the quarter with $26.1 million cash and $45 million undrawn, and repurchased ~2.6 million shares for $25 million (~4% of the company) while pursuing the remainder of its $100 million authorization. For Q2 MediaAlpha guided revenue of $290–310 million, contribution of $45.5–48.5 million and adjusted EBITDA of $28–30.5 million, announced it will now guide to contribution (no longer reporting transaction values), and reiterated a full-year free cash flow target of $90–100 million. Interested in MediaAlpha, Inc.? Here are five stocks we like better. Space Investment: How to Invest in Space Exploration MediaAlpha (NYSE:MAX) executives said the company began 2026 with “record results across all of our key financial metrics,” citing continued strength in auto insurance carrier spending and broader carrier participation in its marketplace. Co-founder and CEO Steve Yi said those dynamics drove a favorable mix shift toward the company’s open marketplace, which lifted revenue and profitability above the company’s guidance range for the first quarter. Yi attributed the quarter’s performance to “continued strength in auto insurance carrier spend and further broadening of carrier participation,” adding that several carriers that had been “punching under the weight” have increased spend over the last several quarters. He said the resulting mix shift toward the open marketplace benefited margins and reflected MediaAlpha’s “estimated 3x scale advantage and unmatched proprietary data,” which he said supports predictive AI optimizations for partners. → Palantir Is Down 30%: Noise? Or a Signal to Accumulate? Terran Orbital’s New $2.4 Billion Contract is a Game Changer On industry conditions, Yi said the underlying auto insurance market remains “healthy,” with carriers “strongly profitable” and “competing more aggressively by lowering their rates and increasing their advertising spend as they prioritize policy growth.” He added that while underwriting margins have started to decline from record levels, they remain “robust by historical standards.” During Q&A,...

This article first appeared on GuruFocus. MediaAlpha Inc (NYSE:MAX) is set to release its Q1 2026 earnings on Apr 29, 2026. The consensus estimate for Q1 2026 revenue is $0.30 billion, and the earnings are expected to come in at $0.22 per share. The full year 2026's revenue is expected to be $1.25 billion and the earnings are expected to be $1.05 per share. More detailed estimate data can be found on the Forecast page. Warning! GuruFocus has detected 3 Warning Signs with MAX. Is MAX fairly valued? Test your thesis with our free DCF calculator. Over the past 90 days, revenue estimates for MediaAlpha Inc (NYSE:MAX) have increased from $1.21 billion to $1.25 billion for the full year 2026 and from $1.34 billion to $1.35 billion for 2027. Earnings estimates have also seen an upward revision, increasing from $0.96 per share to $1.05 per share for the full year 2026 and from $1.16 per share to $1.27 per share for 2027. In the previous quarter ending December 31, 2025, MediaAlpha Inc's (NYSE:MAX) actual revenue was $0.29 billion, which missed analysts' revenue expectations of $0.30 billion by -2.21%. MediaAlpha Inc's (NYSE:MAX) actual earnings were $0.50 per share, which beat analysts' earnings expectations of $0.23 per share by 114.59%. After releasing the results, MediaAlpha Inc (NYSE:MAX) was up by 15.44% in one day. Based on the one-year price targets offered by 5 analysts, the average target price for MediaAlpha Inc (NYSE:MAX) is $13.90 with a high estimate of $19.00 and a low estimate of $11.00. The average target implies an upside of 40.83% from the current price of $9.87. Based on GuruFocus estimates, the estimated GF Value for MediaAlpha Inc (NYSE:MAX) in one year is $18.33, suggesting an upside of 85.71% from the current price of $9.87. Based on the consensus recommendation from 8 brokerage firms, MediaAlpha Inc's (NYSE:MAX) average brokerage recommendation is currently 2.1, indicating an "Outperform" status. The rating scale ranges from 1 to 5, where 1 signifies Strong Buy, and 5 denotes Sell.

Insurance customer acquisition platform MediaAlpha (NYSE:MAX) will be reporting results this Wednesday after market hours. Here’s what to look for. MediaAlpha missed analysts’ revenue expectations last quarter, reporting revenues of $291.2 million, down 3.2% year on year. It was a very strong quarter for the company, with a beat of analysts’ EPS estimates and revenue guidance for next quarter exceeding analysts’ expectations. Is MediaAlpha a buy or sell going into earnings? Read our full analysis here, it’s free for active Edge members. This quarter, the market is expecting MediaAlpha’s revenue to grow 13.3% year on year, slowing from the 109% increase it recorded in the same quarter last year. The majority of analysts covering the company have reconfirmed their estimates over the last 30 days, suggesting they anticipate the business to stay the course heading into earnings. MediaAlpha has missed Wall Street’s revenue estimates multiple times over the last two years. With MediaAlpha being the first among its peers to report earnings this season, we don’t have anywhere else to look to get a hint at how this quarter will unravel for media & entertainment stocks. However, there has been positive investor sentiment in the segment, with share prices up 13.1% on average over the last month. MediaAlpha is up 4.5% during the same time . ALSO WORTH WATCHING: Nvidia’s Quiet Partner. Nvidia’s chips cost a hundred grand. The connectors that make them work cost even more. One company makes them all. Every AI server needs specialized infrastructure the chip companies don’t make. High-speed cables. Power connectors. Thermal sensors. This 90-year-old company built a monopoly on it. The AI boom just started. This stock is still flying under the radar. Claim The Stock Ticker Here for FREE.

If you are looking for a stock that has a solid history of beating earnings estimates and is in a good position to maintain the trend in its next quarterly report, you should consider MediaAlpha, Inc. (MAX). This company, which is in the Zacks Technology Services industry, shows potential for another earnings beat. This company has an established record of topping earnings estimates, especially when looking at the previous two reports. The company boasts an average surprise for the past two quarters of 61.90%. For the last reported quarter, MediaAlpha came out with earnings of $0.5 per share versus the Zacks Consensus Estimate of $0.25 per share, representing a surprise of 100.00%. For the previous quarter, the company was expected to post earnings of $0.21 per share and it actually produced earnings of $0.26 per share, delivering a surprise of 23.81%. Thanks in part to this history, there has been a favorable change in earnings estimates for MediaAlpha lately. In fact, the Zacks Earnings ESP (Expected Surprise Prediction) for the stock is positive, which is a great indicator of an earnings beat, particularly when combined with its solid Zacks Rank. Our research shows that stocks with the combination of a positive Earnings ESP and a Zacks Rank #3 (Hold) or better produce a positive surprise nearly 70% of the time. In other words, if you have 10 stocks with this combination, the number of stocks that beat the consensus estimate could be as high as seven. The Zacks Earnings ESP compares the Most Accurate Estimate to the Zacks Consensus Estimate for the quarter; the Most Accurate Estimate is a version of the Zacks Consensus whose definition is related to change. The idea here is that analysts revising their estimates right before an earnings release have the latest information, which could potentially be more accurate than what they and others contributing to the consensus had predicted earlier. MediaAlpha currently has an Earnings ESP of +2.63%, which suggests that analysts have recently become bullish on the company's earnings prospects. This positive Earnings ESP when combined with the stock's Zacks Rank #3 (Hold) indicates that another beat is possibly around the corner. We expect the company's next earnings report to be released on April 29, 2026. Investors should note, however, that a negative Earnings ESP reading is not indicative of an earnings miss, bu...

The end of an earnings season can be a great time to discover new stocks and assess how companies are handling the current business environment. Let’s take a look at how MediaAlpha (NYSE:MAX) and the rest of the advertising & marketing services stocks fared in Q4. The sector is on the precipice of both disruption and growth as AI, programmatic advertising, and data-driven marketing reshape how things are done. For example, the advent of the Internet broadly and programmatic advertising specifically means that brand building is not a relationship business anymore but instead one based on data and technology, which could hurt traditional ad agencies. On the other hand, the companies in the sector that beef up their tech chops by automating the buying of ad inventory or facilitating omnichannel marketing, for example, stand to benefit. With or without advances in digitization and AI, the sector is still highly levered to the macro, and economic uncertainty may lead to fluctuating ad spend, particularly in cyclical industries. The 7 advertising & marketing services stocks we track reported a satisfactory Q4. As a group, revenues beat analysts’ consensus estimates by 4% while next quarter’s revenue guidance was 0.9% below. Luckily, advertising & marketing services stocks have performed well with share prices up 23.6% on average since the latest earnings results. Powering nearly 10 million consumer referrals each month in the insurance marketplace, MediaAlpha (NYSE:MAX) operates a technology platform that connects insurance carriers with high-intent consumers shopping for property, casualty, health, and life insurance products. MediaAlpha reported revenues of $291.2 million, down 3.2% year on year. This print fell short of analysts’ expectations by 2.9%, but it was still a very strong quarter for the company with a beat of analysts’ EPS estimates and revenue guidance for next quarter exceeding analysts’ expectations. “2025 was a record year for MediaAlpha, driven by strong momentum in P&C and continued market share gains, reinforcing our role as the leading customer acquisition infrastructure for insurance carriers.” said MediaAlpha co-founder and CEO Steve Yi. MediaAlpha delivered the weakest performance against analyst estimates of the whole group. Interestingly, the stock is up 26.7% since reporting and currently trades at $9.85. We think MediaAlpha is a good b...