MediaAlpha Inc (NYSE:MAX)

Q2 2026 Mediaalpha Inc Earnings Call Transcript

Jul 29, 2026 / 09:00 PM GMT

Release Date Price: $13.8 (+0.07%)

Transcript 10-Q8-K

Key Points

Positve

Record second quarter revenue of $317 million, up 26% year-over-year, exceeding guidance.
Broadening carrier demand beyond top partners, with 3rd-5th largest carriers nearly quadrupling spend year-over-year.
Strong underwriting profitability in personal auto driving increased carrier advertising and competition.
AI advancements improving conversion rates and lowering acquisition costs for direct-to-consumer channels.
Aggressive capital return with $88 million in share repurchases over four quarters and $38 million gain from TRA liability repurchase.

Negative

Contribution margin dipped mid-quarter due to partner-specific investments, impacting take rates temporarily.
Health vertical (under-65) revenue declined, expected to be only 1% of total revenue in Q3.
Revenue growth guidance for Q3 (12% year-over-year) decelerates from Q2's 26% growth.
High concentration risk with over 80% of ad spend growth from just two carriers since 2021.
Free cash flow generation of $90-100 million may limit flexibility for additional share repurchases or investments.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MAX.N - MediaAlpha Inc
Q2 2026 Mediaalpha Inc Earnings Call
Jul 29, 2026 / 09:00PM GMT

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Presentation
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Unidentified_1 [1]
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Ladies and gentlemen, thank you for standing by, my name is Angela and I will be your conference operator today, at this time, I would like to welcome everyone to the Media Alpha Inc.

Second quarter 2026 earnings call.

I'd like to remind everyone that this call is being recorded and that all lines have been placed on mute to prevent any background noise after the speaker's remarks, there will be a question-and-answer session if you would like us a question during this time.

Simply press star, followed by the number 1 air telephone keypad to raise your hand and enter the queue if you would like to withdraw your question, press star 1 again, thank you, I would now like to turn the call over to Alex Laloya, please go ahead

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