Record Third Quarter Results
MediaAlpha Inc. delivered record third quarter results driven by the P&C insurance vertical, with transaction value reaching $589 million, up 30% year-over-year.
Strong Growth in P&C Vertical
The P&C vertical saw a 41% year-over-year growth in transaction value, contributing significantly to the overall performance.
Efficient Operating Model
The company achieved an adjusted EBITDA of $29.1 million, an increase of 11% year-over-year, with a conversion of 64% of contribution to adjusted EBITDA.
AI and Technology Advancements
MediaAlpha is leveraging AI to enhance productivity and adapt to technology shifts, expecting to remain a key partner for publishers and advertisers as AI adoption accelerates.
Share Repurchase Authorization
A new share repurchase authorization of up to $50 million was announced, indicating confidence in the company's strategy and long-term growth opportunities.