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MediaAlpha (MAX)
NYSE:MAX
Earnings Data
Report Date
Apr 30, 2026After Close (Confirmed)
Period Ending
2026 (Q1)Consensus EPS Forecast
0.26Last Year’s EPS
-0.04Same Quarter Last Year
Strong Buy
Based on 7 Analysts Ratings
Earnings Call Summary
Earnings Call Sentiment|Positive
The call emphasized multiple material positives: record full-year milestones, strong P&C-driven transaction value growth, meaningful free cash flow, an expanded buyback program, and AI-driven demand/efficiency tailwinds. The primary negatives were a significant contraction in the Under-65 Health business, which materially reduced reported revenue and adjusted EBITDA year-over-year, seasonal timing effects that modestly pressured Q4 transaction value, and one-time tax/FTC cash impacts. On a core basis (excluding Under-65 Health), operating metrics and guidance are strong, and management expects durable momentum in P&C and continued capital returns in 2026.Company Guidance
Record Fiscal 2025 Milestones
Achieved first-time milestones of $2.0 billion in transaction value, $1.0 billion in revenue, and $100 million in adjusted EBITDA for fiscal 2025.
Strong P&C Growth Driving Transaction Value
Transaction value grew 45% year-over-year for the year; P&C vertical grew 65% for the year and 38% year-over-year in Q4, driving total Q4 transaction value of $613 million (up 23% YoY).
Core Business Profitability Expansion (Excluding Under-65 Health)
Excluding Under-65 Health, full-year core adjusted EBITDA grew ~55% and Q4 core adjusted EBITDA grew ~10% versus prior year; revenue would be +9% YoY in Q4 excluding Under-65 Health (reported revenue was $291M, down 3% YoY).
Higher-than-Expected Take Rate and Marketplace Mix
Q4 take rate was 7.6%, slightly above expectations due to favorable open marketplace mix; company expects Q1 take rates to be above Q4 levels.
AI Momentum and Increased Click Volume
Reported AI-driven tailwinds: P&C click volume increased by more than 20% YoY in Q4, with expectations for even stronger growth in Q1; embedding AI across pricing and optimization to improve publisher yield and ROAS for carriers.
Strong Free Cash Flow Generation and Capital Returns
Generated $99 million of free cash flow in 2025 (operating cash flow less CapEx, note FTC adjustments disclosed); repurchased $47.3 million of shares (~7% of shares outstanding) in 2025 and completed ~$14 million in Q4 buybacks (~1.1M shares).
Expanded Share Repurchase Authorization and Financial Flexibility
Board authorized a $50 million increase to the share repurchase program (raising it to $100 million) and management expects to execute the vast majority in 2026; ended FY2025 with $47 million cash on the balance sheet.
Constructive Q1 2026 Guidance
Q1 transaction value guidance $570M–$595M (up ~23% YoY at midpoint) with P&C ~35% YoY growth expected; revenue guidance $285M–$305M (up ~12% YoY at midpoint); adjusted EBITDA guidance $29.5M–$31.5M (up ~4% at midpoint), and ex-Under-65 Health adjusted EBITDA expected to grow ~25% YoY at midpoint.
MAX Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
MAX Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
Feb 23, 2026 | $7.77 | $8.97 | +15.44% |
Oct 29, 2025 | $11.12 | $12.23 | +9.98% |
Aug 06, 2025 | $10.35 | $11.39 | +10.05% |
Apr 30, 2025 | $8.40 | $9.59 | +14.17% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
FAQ
When does MediaAlpha (MAX) report earnings?
MediaAlpha (MAX) is schdueled to report earning on Apr 30, 2026, After Close (Confirmed).
What is MediaAlpha (MAX) earnings time?
MediaAlpha (MAX) earnings time is at Apr 30, 2026, After Close (Confirmed).
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is MAX EPS forecast?
MAX EPS forecast for the fiscal quarter 2026 (Q1) is 0.26.