MediaAlpha Delivers 17% Q1 Revenue Growth to $310M, Posts $14M Net Profit
MediaAlpha reported record Q1 revenue of $310.0 million, up 17% year-over-year, with net income of $14.0 million turning positive versus a $2.3 million loss in Q1 2025. Adjusted EBITDA reached $31.4 million, and the company repurchased over $25 million of stock and refinanced credit facilities through 2031.
1. First Quarter Financial Highlights
MediaAlpha achieved record first-quarter revenue of $310.0 million, marking a 17% increase year-over-year. Gross margin was 15.1%, contribution margin stood at 15.7%, net income was $14.0 million compared to a $2.3 million loss in Q1 2025, and adjusted EBITDA rose to $31.4 million from $29.4 million.
2. Capital Allocation and Refinancing
During the period, the company repurchased approximately 2.6 million shares for $25 million, bringing total repurchases to $73 million over three quarters under its $100 million buyback program. MediaAlpha also refinanced its credit facilities, establishing a $150 million term loan and a $60 million revolving credit facility, both maturing in March 2031.
3. Second Quarter 2026 Outlook
MediaAlpha projects Q2 revenue between $290 million and $310 million, reflecting about 19% year-over-year growth at the midpoint. Contribution is expected between $45.5 million and $48.5 million, and adjusted EBITDA between $28.0 million and $30.5 million, excluding under-65 health to drive higher year-over-year margins.