---
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"
generated_at: "2026-05-16T01:14:08.639623+00:00"
event_type: "earnings"
sentiment: "positive"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# MediaAlpha reports record FY2025 revenue $1.1B, net income $26.8M; doubles buyback to $100M

## Summary
- 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).

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: positive
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 8.01, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001818383-26-000047
- JSON: https://secwatch.observer/filing/0001818383-26-000047.json
- Plain text: https://secwatch.observer/filing/0001818383-26-000047.txt

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