tiprankstipranks
MediaAlpha Reports Robust Q3 2024 Growth
Company Announcements

MediaAlpha Reports Robust Q3 2024 Growth

Mediaalpha, Inc. ( (MAX) ) has realeased its Q3 earnings. Here is a breakdown of the information Mediaalpha, Inc. presented to its investors.

Don't Miss our Black Friday Offers:

MediaAlpha, Inc. is a leading programmatic customer acquisition platform for the insurance industry, connecting carriers with online shoppers through its advanced advertising technology. In its third-quarter 2024 earnings report, MediaAlpha reported a significant year-over-year revenue growth of 247%, reaching $259 million. The company also achieved a transaction value of $452 million, up 314% from the previous year, driven primarily by the Property & Casualty insurance vertical. Notably, this vertical alone experienced a remarkable 766% increase in transaction value, highlighting the company’s strong market position in this segment.

MediaAlpha’s financial performance in Q3 2024 was marked by a net income of $11.9 million, a significant improvement from the net loss of $18.7 million in the same quarter of 2023. The company’s adjusted EBITDA also saw a substantial rise, reaching $26.3 million compared to $3.6 million in the prior year. Despite these positive figures, the gross margin decreased slightly to 15.1% from 16.5%, and the contribution margin fell to 16.0% from 20.2%.

Looking ahead, MediaAlpha provides a strong financial outlook for the fourth quarter of 2024, expecting a transaction value between $470 million and $495 million, and revenue in the range of $275 million to $295 million. The company anticipates continued growth in its Property & Casualty insurance vertical while projecting a slight decline in the Health insurance vertical due to external factors.

Overall, MediaAlpha remains well-positioned for sustainable long-term growth and market share expansion, aiming to solidify its role as a trusted partner in the insurance industry.

Related Articles
TipRanks Auto-Generated NewsdeskMediaalpha, Inc. Faces Financial Strain Amid FTC Investigation and Potential Settlement
TheFlyMediaAlpha falls -28.7%
TheFlyMediaAlpha falls -35.1%
Looking for investment ideas? Subscribe to our Smart Investor newsletter for weekly expert stock picks!
Get real-time notifications on news & analysis, curated for your stock watchlist. Download the TipRanks app today! Get the App