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MediaAlpha MAX Health insurance — Revenue

Other product segments

Property & casualty insurance
$308.8M+35.9%
Life insurance
$5.13M-1.9%
Other
$219K-81.1%

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Other financials

Income statement

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Revenue$316.9M+25.9%
Gross profit$45.2M+19.9%
Operating income$20.0M+200%
Net income$39.4M+310%
EPS (diluted)$0.65+297%

Balance sheet

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Cash & equivalents$23.7M-72.2%
Total debt$176.7M+11.8%
Total equity$28.4M+853%
Total assets$359.8M+44.3%

Cash flow

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Operating cash flow$42.6M+65.6%
CapEx$774.0K+342%
Free cash flow$41.8M+63.7%

Valuation

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Market cap$820.94M+52.3%
Enterprise value$973.9M+59.3%
P/E8.4×
P/S0.7×+0.2×

Profitability

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Gross margin14.7%-0.9pp
Operating margin6.9%+5.6pp
Net margin7.9%+7.4pp
FCF margin7.8%+2.4pp

Returns & leverage

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Return on equity793.8%
Debt / equity6.2×
Current ratio1.3×0.0×

Where this comes from

Reported directly by MediaAlpha in its filing.

Tagged under the XBRL concept us-gaap:RevenueFromContractWithCustomerExcludingAssessedTax.

The source filing: MediaAlpha’s 10-Q, filed July 29, 2026.

Filed
Jul 29, 2026, 4:17 PM EDT
Fiscal quarter
Q2 FY2026
Calendar quarter
Q2 2026
Accession
0001818383-26-000200
(in thousands)Three Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Property & casualty insurance$308,795$227,162$601,583$450,407
Health insurance2,73418,07413,89952,011
Life insurance5,1275,22510,96810,798
Other2191,1614292,715
Total$316,875$251,622$626,879$515,931

Item 1. Financial Statements.

FAQ

What is MediaAlpha's health insurance — revenue?
MediaAlpha (MAX) reported health insurance — revenue of $2.73M in Q2 2026.
How has MediaAlpha's health insurance — revenue changed year-over-year?
MediaAlpha's health insurance — revenue decreased by 84.9% year-over-year, from $18.07M to $2.73M.
What is the long-term trend for MediaAlpha's health insurance — revenue?
Over 4 years (2021 to 2025), MediaAlpha's health insurance — revenue has grown at a -16.5% compound annual growth rate (CAGR), from $176.46M to $85.7M.
What does health insurance — revenue mean?
This metric represents the total gross revenue generated from the sale of consumer referrals specifically within the health insurance vertical. It reflects the company's ability to monetize its technology platform by connecting health insurance carriers with prospective customers seeking coverage. Tracking this revenue stream provides insight into the demand for health insurance lead acquisition and the company's competitive positioning within the broader health insurance marketplace.

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