MediaAlpha

Q2 FY2026 EarningsQ2 FY2026 results significantly exceeded consensus expectations across the top and bottom lines, driven by record revenue and a massive one-time gain. Revenue of $316.9M beat the $299.1M estimate (+5.9%), while GAAP EPS of $0.65 crushed the $0.23 consensus due to a $37.7M gain from repurchasing Tax Receivable Agreement (TRA) interests. Management issued strong Q3 FY26 revenue guidance of $330M-$355M, well above current market trajectories, signaling continued momentum in the P&C insurance vertical.