MediaAlpha, Inc.
Financial highlights
| Metric | FY 12/31/25 | FY 12/31/24 | FY 12/31/23 | FY 12/31/22 | FY 12/31/21 |
|---|---|---|---|---|---|
| Income Statement | |||||
| Revenue | $1.1B | $864.7M | $388.1M | $459.1M | $645.3M |
| Cost of revenue | $946.1M | $721.1M | $321.4M | $389.0M | $543.8M |
| Research and development | $21.4M | $19.8M | $18.5M | $21.1M | $15.2M |
| Operating income | $22.1M | $42.7M | -$39.9M | -$35.4M | $2.1M |
| Interest expense | $11.2M | $14.4M | $15.3M | $9.2M | $7.8M |
| Pretax income | -$111.1M | $23.5M | -$57.0M | $30.5M | -$9.5M |
| Income tax expense | -$137.8M | $1.4M | -$463,000 | $102.9M | -$1.0M |
| Net income | $25.6M | $16.6M | -$40.4M | -$57.7M | -$5.3M |
| Balance Sheet | |||||
| Cash and equivalents | $46.9M | $43.3M | $17.3M | $14.5M | $50.6M |
| Current assets | $174.4M | $189.9M | $74.6M | $80.4M | $137.1M |
| Total assets | $383.8M | $262.4M | $153.9M | $170.1M | $289.8M |
| Current liabilities | $147.6M | $133.0M | $79.7M | $76.9M | $84.2M |
| Total liabilities | $413.0M | $308.7M | $248.3M | $256.2M | $351.4M |
| Stockholders' equity | $4.2M | $2.4M | -$10.3M | -$16.0M | -$4.3M |
| Cash Flow Statement | |||||
| Cash from operations | $65.6M | $45.9M | $20.2M | $28.3M | $28.6M |
| Depreciation and amortization | $273,000 | $252,000 | $353,000 | $392,000 | $369,000 |
| Stock-based compensation | $30.3M | $34.1M | $53.3M | $58.5M | $45.7M |
| Capital expenditure | $340,000 | $254,000 | $73,000 | $98,000 | $650,000 |
| Free cash flow | $65.3M | $45.6M | $20.2M | $28.2M | $28.0M |
| Share repurchases | $47.3M | $0 | $0 | $5.0M | $0 |
| Impairments | $0 | $0 | $0 | $0 | $0 |
Shares outstanding 62.4M
Annual filing data through FY ended December 31, 2025; float as of July 15, 2026.