Advertising GrowthAuto insurers will ramp up advertising-for-growth spend beyond sell-side expectations, benefiting MAX which derives approximately 65% of its revenues from the auto insurance direct-to-consumer channel.
Financial PerformanceMediaAlpha reported strong Q1 results, with Transaction Value, revenue, and adjusted EBITDA all coming in solidly ahead of expectations.
Market PositionThe franchise has good long-term value given its leading position in digital P&C insurance advertising.