--- title: "MediaAlpha | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 316.88 M" type: "News" locale: "en" url: "https://longbridge.com/en/news/294254979.md" datetime: "2026-07-29T20:17:43.000Z" locales: - [zh-CN](https://longbridge.com/zh-CN/news/294254979.md) - [en](https://longbridge.com/en/news/294254979.md) - [zh-HK](https://longbridge.com/zh-HK/news/294254979.md) generator: "portal-rs" --- # MediaAlpha | 8-K: FY2026 Q2 Revenue Beats Estimate at USD 316.88 M Revenue: As of FY2026 Q2, the actual value is USD 316.88 M, beating the estimate of USD 299.14 M. EPS: As of FY2026 Q2, the actual value is USD 0.65, beating the estimate of USD 0.232. EBIT: As of FY2026 Q2, the actual value is USD 57.87 M. ### Second Quarter 2026 Financial Highlights #### Revenue MediaAlpha, Inc. reported total revenue of $316.9 million for the second quarter of 2026, an increase of 26% year-over-year from $251.6 million in the second quarter of 2025. For the six months ended June 30, 2026, total revenue was $626.9 million, up from $515.9 million in the same period of 2025. Revenue excluding Under-65 Revenue was $316.2 million in Q2 2026, increasing 33% from $237.9 million in Q2 2025. Under-65 Revenue decreased by -95% to $0.7 million in Q2 2026 from $13.8 million in Q2 2025. #### Gross Profit and Gross Margin Gross profit for the second quarter of 2026 was $45.2 million, an increase of 20% from $37.7 million in Q2 2025. The gross margin for Q2 2026 was 14.3%, a decrease from 15.0% in Q2 2025. For the six months ended June 30, 2026, gross profit was $91.873 million, compared to $79.326 million in 2025, with gross margin at 14.7% in 2026 versus 15.4% in 2025. #### Contribution and Contribution Margin Contribution for the second quarter of 2026 was $47.2 million, up 18% from $39.8 million in Q2 2025. The contribution margin for Q2 2026 was 14.9%, down from 15.8% in Q2 2025. Contribution excluding Under-65 Contribution was $46.9 million in Q2 2026, an increase of 25% from $37.5 million in Q2 2025. Under-65 Contribution decreased by -88% to $0.3 million in Q2 2026 from $2.4 million in Q2 2025. For the six months ended June 30, 2026, contribution was $95.822 million, compared to $83.818 million in 2025, with contribution margin at 15.3% in 2026 versus 16.2% in 2025. #### Net Income (Loss) Net income for the second quarter of 2026 was $41.8 million, a significant improvement from a net loss of - $22.5 million in Q2 2025. For the six months ended June 30, 2026, net income was $55.8 million, compared to a net loss of - $24.9 million in the prior year period. #### Adjusted EBITDA Adjusted EBITDA was $29.3 million in the second quarter of 2026, an increase of 19% from $24.5 million in Q2 2025. Adjusted EBITDA excluding Under-65 Contribution was $29.0 million in Q2 2026, up 31% from $22.1 million in Q2 2025. For the six months ended June 30, 2026, Adjusted EBITDA was $60.6 million, up from $53.9 million in the same period of 2025. #### Cash Flow from Operating Activities Net cash provided by operating activities for the six months ended June 30, 2026, was $41.0 million, compared to $49.4 million in the prior year period. #### Free Cash Flow Free cash flow for the six months ended June 30, 2026, was $40.2 million, calculated from $41.0 million in operating cash flow and - $0.8 million in capital expenditures. This compares to free cash flow of $49.2 million for the six months ended June 30, 2025, derived from $49.4 million in operating cash flow and - $0.2 million in capital expenditures. #### Share Repurchases MediaAlpha, Inc. repurchased approximately 2.2 million shares for $20 million during the second quarter of 2026. Cumulative repurchases under the company’s $100 million share repurchase program total 5.4 million shares. #### TRA Liability Repurchase In June 2026, MediaAlpha, Inc. repurchased a portion of its TRA liability, which had a book value of $69 million, for $31 million. #### Revenue by Vertical (Three Months Ended June 30, 2026 vs. 2025) Property & Casualty insurance revenue was $308.8 million (97.4% of total revenue) in 2026, up from $227.2 million (90.3% of total revenue) in 2025. Health insurance revenue was $2.7 million (0.9% of total revenue) in 2026, down from $18.1 million (7.2% of total revenue) in 2025. Life insurance revenue was $5.1 million (1.6% of total revenue) in 2026, compared to $5.2 million (2.1% of total revenue) in 2025. Other revenue was $0.2 million (0.1% of total revenue) in 2026, down from $1.2 million (0.4% of total revenue) in 2025. #### Revenue by Platform Model (Three Months Ended June 30, 2026 vs. 2025) Open Marketplace transactions generated $312.0 million (98.5% of total revenue) in 2026, up from $245.3 million (97.5% of total revenue) in 2025. Private Marketplace transactions generated $4.9 million (1.5% of total revenue) in 2026, down from $6.3 million (2.5% of total revenue) in 2025. ### Financial Outlook For the third quarter of 2026, MediaAlpha, Inc. expects revenue between $330 million and $355 million, representing a 12% year-over-year increase at the midpoint. Contribution is projected to be between $51.5 million and $54.5 million, and Adjusted EBITDA is expected to range from $32.0 million to $35.0 million. For the full year 2026, the company anticipates generating between $90 million and $100 million in free cash flow and plans to complete the majority of the remaining $45 million under its share repurchase program. ### Related Stocks - [MAX.US](https://longbridge.com/en/quote/MAX.US.md) ## Related News & Research - [MediaAlpha (NYSE:MAX) Director Sells $97,613.90 in Stock](https://longbridge.com/en/news/297096900.md) - [Janus Henderson Group PLC Lowers Stock Position in MediaAlpha, Inc. $MAX](https://longbridge.com/en/news/295635592.md) - [Equifax notifies availability of 8-K filing](https://longbridge.com/en/news/297785672.md) - [Sportsman’s Warehouse announces earnings release for 26 weeks ended Aug. 1, 2026](https://longbridge.com/en/news/297692824.md) - [Insider Selling: MediaAlpha (NYSE:MAX) CTO Sells 12,000 Shares of Stock](https://longbridge.com/en/news/296170229.md) --- > **Disclaimer: This article is for reference only and does not constitute any investment advice.**