---
schema_version: "secwatch.filing_event.v1"
accession: "0001818383-25-000057"
form_type: "8-K"
ticker: "MAX"
cik: "0001818383"
company_name: "MediaAlpha, Inc."
filed_at: "2025-04-30T23:59:59+00:00"
generated_at: "2026-05-23T02:37:25.649156+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.8
calibrated_materiality_score: 0.8
confidence: "high"
source: SEC EDGAR
---

# MediaAlpha Q1 revenue up 109% to $264M; P&C transaction value hits record $407M

## Summary
- Revenue $264.3M (+109% YoY); Transaction Value $473.1M (+116% YoY).
- P&C vertical transaction value surged 200% YoY to $407M; Health vertical down 17%.
- Adjusted EBITDA $29.4M (+104% vs $14.4M); net loss widened to $(2.3)M.
- Record Q1; expects to continue long-term profitable growth, no Q2 guidance provided.
- FTC reserve increased by $5M to $12M as company remains in settlement discussions.

## SEC filing metadata
- accession: 0001818383-25-000057
- form_type: 8-K
- ticker: MAX
- cik: 0001818383
- company_name: MediaAlpha, Inc.
- filed_at: 2025-04-30T23:59:59+00:00
- event_type: earnings
- sentiment: positive
- materiality_score: 0.8
- calibrated_materiality_score: 0.8
- confidence: high
- sec_items: 2.02, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1818383/000181838325000057/0001818383-25-000057-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1818383/000181838325000057/max-20250430.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001818383-25-000057
- JSON: https://secwatch.observer/filing/0001818383-25-000057.json
- Plain text: https://secwatch.observer/filing/0001818383-25-000057.txt

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