MediaAlpha Q3 revenue beats analyst estimates as digital customer acquisition shifts
MAX•MediaAlpha's Q3 revenue rose 23% to $375.95 million, beating the $347.93 million analyst estimate, while adjusted EBITDA increased 36% to $39.50 million. The company forecast Q4 revenue of $355 million to $375 million and adjusted EBITDA of $36 million to $39 million.
1. Quarterly results
MediaAlpha reported Q3 revenue of $375.95 million, up 23% year over year and above the $347.93 million analyst estimate. Adjusted EBITDA rose 36% to $39.50 million, beating the $33.77 million estimate. Net income was $29.36 million.
2. Outlook and drivers
The company expects Q4 revenue of $355 million to $375 million, contribution of $54 million to $57 million, and adjusted EBITDA of $36 million to $39 million. MediaAlpha cited aggressive competition and higher home and auto insurance carrier budgets as drivers of marketplace demand, alongside operating leverage, cash generation and the ongoing shift toward digital customer acquisition.
3. Share repurchases
MediaAlpha repurchased $9 million of stock in Q3, bringing total repurchases under its buyback program to $82 million.
