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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+53.9%
Enterprise value$973.9M+60.7%
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:ResearchAndDevelopmentExpense.

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
Line itemThree Months Ended June 30, 2026Three Months Ended June 30, 2025Six Months Ended June 30, 2026Six Months Ended June 30, 2025
Costs and operating expenses
Cost of revenue271,701213,935535,006436,605
Sales and marketing5,1615,22810,48910,854
Product development6,0435,35311,49810,239
General and administrative14,00847,14827,55064,743
Write-off of intangible assets13,416
Total costs and operating expenses296,913271,664584,543535,857
Income (loss) from operations19,962(20,042)42,336(19,926)

Item 1. Financial Statements.

FAQ

What is MediaAlpha's R&D?
MediaAlpha (MAX) reported R&D of $6.04M in Q2 2026.
How has MediaAlpha's R&D changed year-over-year?
MediaAlpha's R&D increased by 12.9% year-over-year, from $5.35M to $6.04M.
What is the long-term trend for MediaAlpha's R&D?
Over 4 years (2021 to 2025), MediaAlpha's R&D has grown at a 8.9% compound annual growth rate (CAGR), from $15.2M to $21.4M.
What does R&D mean?
Costs of research activities to discover new knowledge and development activities to translate research into new or improved products, services, processes, or technologies.

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