{"schema_version":"secwatch.filing_event.v1","accession":"0001818383-25-000020","form_type":"8-K","ticker":"MAX","cik":"0001818383","company_name":"MediaAlpha, Inc.","filed_at":"2025-02-24T23:59:59+00:00","discovered_at":"2026-05-14T18:03:05.041020+00:00","generated_at":"2026-05-26T06:21:25.539770+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.8,"calibrated_materiality_score":0.8,"confidence":"high","headline":"MediaAlpha Q4 revenue $300.6M (+157% YoY), net income $7.3M; FY net income $22.1M","bullets":["Q4 revenue $300.6M (+157% YoY); Transaction Value $499.2M (+202%) driven by P&C vertical $401M (+639%).","Full-year revenue $864.7M (+123%), Transaction Value $1.5B (+151%), net income $22.1M vs loss $56.6M.","Adjusted EBITDA Q4 $36.7M (vs $12.7M); full year $96.1M (vs $27.1M), both records.","Gross margin 16.3% vs 19.0%; Contribution margin 17.1% vs 21.4% reflecting mix shift.","Active FTC settlement discussions; $7.0M reserve recorded under GAAP."],"urls":{"canonical":"https://secwatch.observer/filing/0001818383-25-000020","json":"https://secwatch.observer/filing/0001818383-25-000020.json","markdown":"https://secwatch.observer/filing/0001818383-25-000020.md","text":"https://secwatch.observer/filing/0001818383-25-000020.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1818383/000181838325000020/0001818383-25-000020-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1818383/000181838325000020/max-20250224.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-26T06:21:25.539770+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}