{"schema_version":"secwatch.filing_event.v1","accession":"0001818383-26-000047","form_type":"8-K","ticker":"MAX","cik":"0001818383","company_name":"MediaAlpha, Inc.","filed_at":"2026-02-23T23:59:59+00:00","discovered_at":"2026-05-14T18:02:36.315176+00:00","generated_at":"2026-05-16T01:14:08.639623+00:00","sec_items":["2.02","8.01","9.01"],"event_type":"earnings","sentiment":"positive","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"MediaAlpha reports record FY2025 revenue $1.1B, net income $26.8M; doubles buyback to $100M","bullets":["Q4 revenue $291M (-3% YoY); Transaction Value $613M (+23% YoY), driven by P&C +38%.","Full-year revenue $1.1B (+29% YoY); Transaction Value $2.2B (+45% YoY); P&C TV $1.9B (+65%).","Q4 net income $34.0M vs $7.3M prior year; FY net income $26.8M vs $22.1M.","FY Adjusted EBITDA $113.7M (+18% YoY); Q4 Adjusted EBITDA $30.8M (down from $36.7M).","Board authorized $50M increase in share repurchase to $100M; $86M outstanding (~15% of shares)."],"urls":{"canonical":"https://secwatch.observer/filing/0001818383-26-000047","json":"https://secwatch.observer/filing/0001818383-26-000047.json","markdown":"https://secwatch.observer/filing/0001818383-26-000047.md","text":"https://secwatch.observer/filing/0001818383-26-000047.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1818383/000181838326000047/0001818383-26-000047-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1818383/000181838326000047/max-20260218.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-05-16T01:14:08.639623+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"}