secwatch.observer — SEC 8-K summary
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Issuer:     MediaAlpha, Inc. (MAX)
CIK:        0001818383
Form:       8-K
Filed at:   2023-05-04T23:59:59+00:00
Accession:  0001818383-23-000072
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 2.05, 5.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

MediaAlpha reports Q1 revenue down 22% YoY, net loss widens to $14.6M; cuts 25 jobs (16% of workforce)
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- Q1 revenue $111.6M (-22% YoY); transaction value $193.2M (-19% YoY); net loss $(14.6)M vs $(9.8)M YoY.
- Adjusted EBITDA $7.3M (up 2% YoY), but CEO notes largest carrier partner reduced ad spend post-Q1 due to profitability concerns.
- Workforce reduction of 25 employees (16%) effective May 1; expects ~$1.6M restructuring charges, mostly cash.
- Chief People Officer Cathy Cunningham terminated May 1; receives severance and accelerated vesting of 9,139 RSUs.
- Gross margin improved to 16.5% from 15.2%; contribution margin 19.2% from 16.5%.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1818383/000181838323000072/0001818383-23-000072-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1818383/000181838323000072/max-20230504.htm
  HTML page:      https://secwatch.observer/filing/0001818383-23-000072

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