---
schema_version: "secwatch.filing_event.v1"
accession: "0001818383-23-000027"
form_type: "8-K"
ticker: "MAX"
cik: "0001818383"
company_name: "MediaAlpha, Inc."
filed_at: "2023-02-23T23:59:59+00:00"
generated_at: "2026-06-19T03:14:26.552141+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# MediaAlpha Q4 revenue $124M (-23% YoY); net loss widens to $28.4M; sees P&C recovery in Q1 2023

## Summary
- Q4 revenue $124.0M, down 23% YoY; full year $459.1M, down 29% YoY.
- Q4 net loss $(28.4)M vs $(4.0)M; Adjusted EBITDA $9.0M vs $13.2M.
- P&C Transaction Value down 53% YoY to $57M in Q4; Health flat at $99M.
- CEO says Q4 exceeded expectations; expects P&C Transaction Value to nearly double sequentially in Q1 2023.
- Full year Transaction Value $737.5M, down 28% YoY.

## SEC filing metadata
- accession: 0001818383-23-000027
- form_type: 8-K
- ticker: MAX
- cik: 0001818383
- company_name: MediaAlpha, Inc.
- filed_at: 2023-02-23T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1818383/000181838323000027/0001818383-23-000027-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1818383/000181838323000027/max-20230223.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001818383-23-000027
- JSON: https://secwatch.observer/filing/0001818383-23-000027.json
- Plain text: https://secwatch.observer/filing/0001818383-23-000027.txt

## Key facts
- Earnings Releases
  MediaAlpha, Inc. reported the fourth quarter ended December 31, 2022 results: revenue $124.0 million, net income $(28.4) million.
  - Period: the fourth quarter ended December 31, 2022
  - Revenue: $124.0 million
  - Net income: $(28.4) million
  - Result: reported results
  source text: • Revenue of $124.0 million, a decrease of 23% year over year; • Transaction Value of $168.9 million, a decrease of 31% year over year; • Gross margin of 16.2%, compared with 15.7% in the fourth quarter of 2021; • Contribution Margin (1) of 18.5%, compared with 16.6% in the fourth quarter of 2021; • Net loss of $(28.4) million, compared with $(4.0) million in the fourth quarter of 2021; and • Adjusted EBITDA (1) of $9.0 million, compared with $13.2 million in the fourth quarter of 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1818383/000181838323000027/0001818383-23-000027-index.htm
- Earnings Releases
  MediaAlpha, Inc. reported the full year ended December 31, 2022 results: revenue $459.1 million, net income $(72.4) million.
  - Period: the full year ended December 31, 2022
  - Revenue: $459.1 million
  - Net income: $(72.4) million
  - Result: reported results
  source text: • Revenue of $459.1 million, a decrease of 29% year over year; • Transaction Value of $737.5 million, a decrease of 28% year over year; • Gross margin of 15.3%, compared with 15.7% in 2021; • Contribution Margin (1) of 17.6%, compared with 16.7% in 2021; • Net loss of $(72.4) million, compared with $(8.5) million in 2021; and • Adjusted EBITDA (1) of $22.9 million, compared with $58.2 million in 2021.
  evidence_url: https://www.sec.gov/Archives/edgar/data/1818383/000181838323000027/0001818383-23-000027-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.