MediaAlpha Q2 revenue up 26% to $316.9M; net income $41.8M vs loss a year ago

MediaAlpha, Inc.

Revenue $316.9M (+26% YoY); net income $41.8M vs net loss $(22.5)M in Q2 2025.
Adjusted EBITDA $29.3M vs $24.5M YoY; gross margin 14.3% vs 15.0%.
Repurchased 2.2M shares for $20M in Q2; cumulative buybacks $88M over last year.
Repurchased $31M of TRA liability with book value $69M, reducing future obligations.
CEO cites broadening demand from carrier partners; digital ad shift supports growth.

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