MediaAlpha Q2 Revenue Jumps 26%, Beats Estimates; Guides Q3 Above Consensus
MAX sits 100% above its 52-week low of $7.09.
Summary
MediaAlpha delivered a strong Q2 with revenue of $316.88M, up 26% YoY and well above the $301M consensus. Adjusted EBITDA of $29.3M also beat estimates. The company guided Q3 revenue to $330M-$355M and adjusted EBITDA to $32M-$35M, both ahead of expectations, and forecast full-year free cash flow of $90M-$100M. Management cited increased carrier advertising spend and a shift to digital as key drivers, with particular strength in Property & Casualty. The company also repurchased $20M of stock in Q2, bringing H1 buybacks to $41M. This follows a pattern of significant insider selling and a recent law firm investigation, but the operational momentum and guidance raise the bar for the stock, which is trading near its 52-week high.
At the time of this announcement, MAX was trading at $14.16 on NYSE in the Technology sector, with a market capitalization of approximately $860.4M. The 52-week trading range was $7.09 to $14.70. This news item was assessed with positive market sentiment and an importance score of 8 out of 10. Source: Reuters.