Stocks Consumer discretionary MAX
NYSE · Consumer discretionaryMediaAlpha, Inc. (MAX)
MediaAlpha, Inc. brought in $1.3B of revenue over the twelve months to September 30, 2026, up 15.2% from a year earlier. Net income was $108.1M, a net margin of 8.4%. Operating cash flow minus capital spending left $65.3M of free cash flow in fiscal 2025. At September 30, 2026 it held $18.7M in cash against $174.9M of debt. Its latest periodic report to the SEC is the quarterly report (10-Q) filed on October 28, 2026.
Key facts about MediaAlpha, Inc.
- Net worth
- MediaAlpha, Inc. has a market value (market cap) of $869.9M at the latest share price, and shareholders' equity of $51.3M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
- Revenue and profit
- In fiscal 2025 revenue was $1.1B (+28.8% year on year), with net income of $25.6M. Over the 12 months to September 30, 2026: revenue $1.3B, net income $108.1M.
- Cash flow
- In fiscal 2025 operations brought in $65.6M of cash; after $340K of capital spending, free cash flow was $65.3M.
- Latest report
- The latest periodic report (quarterly report, 10-Q) was filed with the SEC on October 28, 2026 and covers the period to September 30, 2026. Open on SEC EDGAR
- Next earnings report
- MediaAlpha, Inc.'s next report is expected around February 22, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
What MediaAlpha, Inc. does
MediaAlpha, Inc. is registered with the SEC under industry code SIC 7389 (Services-Business Services, NEC). Its shares trade on NYSE under the ticker MAX.
Revenue and profit by year
Key figures
| Fiscal year | Revenue | Net income | Diluted EPS | Free cash flow |
|---|---|---|---|---|
| 2025 | $1.1B | $25.6M | $0.39 | $65.3M |
| 2024 | $864.7M | $16.6M | $0.31 | $45.6M |
| 2023 | $388.1M | -$40.4M | -$0.89 | $20.2M |
| 2022 | $459.1M | -$57.7M | -$1.37 | $28.2M |
| 2021 | $645.3M | -$5.3M | -$0.19 | $28M |
| 2020 | $584.8M | -$4.4M | -$0.14 | $51.1M |
Earnings: every quarter and the next report date
Full financial statements: income, balance sheet and cash flow
Where MAX ranks in Consumer discretionary
Latest SEC filings
What MediaAlpha, Inc. has filed recently, newest first. Each links to the original document on SEC EDGAR.
- October 28, 2026Quarterly report 10-Q · period to September 30, 2026Revenue rose 23% to $375.9M versus the same quarter last year; diluted EPS $0.46 versus $0.26.
- October 28, 2026
- September 9, 2026
- September 3, 2026
- August 26, 2026Activist stake changed SCHEDULE 13D/A
- July 29, 2026Quarterly report 10-Q · period to June 30, 2026Revenue rose 26% to $316.9M versus the same quarter last year; diluted EPS $0.65 versus -$0.33.
- July 29, 2026
- July 28, 2026Passive stake (5% or more) SCHEDULE 13G
- June 29, 2026
- May 18, 2026
What is MAX worth? A DCF from its reported cash flow
Insider trades
What the people running MediaAlpha, Inc. did with its shares, from the Form 4 filings they must send the SEC within two business days.
Insiders sold $18.6M worth of shares in the last 90 days and bought none on the open market. Most of the selling (96%) was pre-planned under Rule 10b5-1 trading plans.
| Date | Insider | What | Shares | Value |
|---|---|---|---|---|
| November 4, 2026 | Nonko EugeneDirector | Soldpre-planned (10b5-1) | 5,667 | $86.4K |
| November 4, 2026 | Nonko EugeneDirector | Soldpre-planned (10b5-1), indirect | 93,279 | $1.4M |
| November 4, 2026 | Yi StevenSee Remarks, Director | Soldpre-planned (10b5-1) | 151,129 | $2.3M |
| November 3, 2026 | Nonko EugeneDirector | Soldpre-planned (10b5-1) | 15,022 | $224.3K |
| November 3, 2026 | Nonko EugeneDirector | Soldpre-planned (10b5-1), indirect | 160,185 | $2.4M |
| November 3, 2026 | Yi StevenSee Remarks, Director | Soldpre-planned (10b5-1) | 130,065 | $2M |
| November 2, 2026 | Nonko EugeneDirector | Soldpre-planned (10b5-1) | 109,401 | $1.6M |
| November 2, 2026 | Nonko EugeneDirector | Soldpre-planned (10b5-1), indirect | 78,009 | $1.1M |
Who owns MAX
Three views from three kinds of SEC filings, each with its own date. They overlap and are not added up.
5% holders
| Holder | Of class | Filed |
|---|---|---|
| Divisadero Street Capital Management, LP13G, passive with 4 related filers | 5.8% | July 28, 2026 |
Largest institutional holders
Positions that investment managers reported on Form 13F for the quarter ended June 30, 2026, largest first, with the change on the quarter ended March 31, 2026. Managers file 13F up to 45 days after a quarter ends. 154 managers reported a position.
| Holder | Shares | Change on quarter |
|---|---|---|
| White Mountains Insurance Group Ltd | 17,856,614 | 0 |
| BlackRock, Inc. | 3,392,357 | -84,330 |
| Clearline Capital LP | 2,713,890 | +123,220 |
| Jpmorgan Chase & Co | 1,880,062 | +134,383 |
| Vanguard Capital Management LLC | 1,276,369 | -109,360 |
| Geode Capital Management, LLC | 1,068,308 | -1,776 |
| Divisadero Street Capital Management, LP | 1,019,988 | +933,081 |
| Jacobs Levy Equity Management, Inc | 971,232 | +221,178 |
| Jacobs Asset Management, LLC | 919,761 | -4,682 |
| State Street Corp | 862,235 | +24,074 |
| Arrowstreet Capital, Limited Partnership | 829,958 | -232,023 |
| Morgan Stanley | 821,170 | +118,152 |
| Nuveen, LLC | 752,447 | +51,048 |
| Dimensional Fund Advisors LP | 701,914 | +81,245 |
| J. Goldman & Co LP | 598,070 | -584,603 |
| Citadel Advisors LLC | 589,696 | +360,373 |
| Renaissance Technologies LLC | 574,407 | -144,893 |
| Shay Capital LLC | 570,000 | -205,000 |
| Jane Street Group, LLC | 551,625 | +268,617 |
| D. E. Shaw & Co., Inc. | 535,926 | +193,868 |
Insiders
12 insiders reported holding 6,016,369 shares in total, about $85.4M at the last price.
| Holder | Shares |
|---|---|
| Yi StevenSee Remarks, Director | 1,893,707 |
| Nonko EugeneDirector | 1,112,864458,428 held indirectly |
| Thompson Patrick RyanSee Remarks | 1,080,127 |
| Coyne Jeffrey BGENERAL COUNSEL AND SECRETARY | 577,582 |
| Yeh Kuanling AmyChief Technology Officer | 493,091 |
| Sinanyan TigranSee Remarks | 254,781 |
| Cramer KeithChief Revenue Officer | 239,303 |
| Vrabeck Kathy PDirector | 150,407 |
| Arasu Venmal (Raji)Director | 119,407 |
| Hunt Bradley WilliamDirector | 46,200 |
Questions about MAX
What does MediaAlpha, Inc. do?
MediaAlpha, Inc. is a company in the Consumer discretionary sector, listed on NYSE as MAX. Its shares trade on NYSE under the ticker MAX.
What is MediaAlpha, Inc.'s net worth?
MediaAlpha, Inc. has a market value (market cap) of $869.9M at the latest share price, and shareholders' equity of $51.3M on its balance sheet at September 30, 2026. A company's "net worth" usually means one of these: what the market pays for all its shares, or its assets minus its liabilities.
Is MediaAlpha, Inc. profitable?
Yes. Over the twelve months to September 30, 2026 it reported net income of $108.1M on revenue of $1.3B, a net margin of 8.4%.
How much revenue does MediaAlpha, Inc. make?
Over the twelve months to September 30, 2026 MediaAlpha, Inc. reported revenue of $1.3B. That is 15.2% more than a year earlier.
When did MediaAlpha, Inc. last report?
Its most recent periodic report is the quarterly report (10-Q) filed on October 28, 2026. It covers the period to September 30, 2026. Its newest filing of any kind is the insider trade from November 4, 2026.
When is MediaAlpha, Inc.'s next earnings report?
MediaAlpha, Inc.'s next report is expected around February 22, 2027. That is an estimate from its filing rhythm, not a date the company has announced.
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Where the numbers come from
Financial figures are the values MediaAlpha, Inc. tagged in its own SEC filings (XBRL), taken from the latest filing for each period, so restatements replace older figures. Revenue, profit and cash flow are for full fiscal years unless marked as the last twelve months, which is the sum of the four most recent quarters. Where a company reports only the full year, the fourth quarter is the year minus the first three.
Prices are delayed end-of-day market data in the listing currency, and market cap moves with the price. P/E is shown only when earnings per share are positive. Nothing here is investment advice.