MAX · XBRL financial data

MediaAlpha financial statements, every fiscal year

The same tables from 6 filings, lined up. Matched by XBRL tag: renamed lines keep their history.

How these numbers work

Every number comes from the company's XBRL financial data filed with the SEC, and each one links to its filing.
Lines are matched by XBRL tag, so a line renamed between filings keeps its history.
* marks a quarter worked out from the filing totals: the 10-K year minus the first three quarters, or a year-to-date total minus the earlier one. Fourth-quarter earnings per share is fourth-quarter net income over the fourth-quarter weighted shares.
0 means a filing states zero; a dash (—) means no filing states that number.
“year only” means the 10-K gives the full year but not the quarters needed to work out the fourth. A worked-out quarter of revenue, cost of revenue or operating cash flow more than twice the company's largest quarter of the two years before is shown this way too.
Gross profit is shown as the company reports it; a worked-out quarter must equal revenue less cost of revenue for that quarter, or it is a dash.
Operating income can be above gross profit when the company books other operating income between the two, shown on its own line.
Shares outstanding come from each filing's cover page, as of the date printed there.
Quarters are fiscal: Q2 FY27 is the second quarter of the company's fiscal 2027.

Income statement

Fiscal years (MAX's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Revenue from contracts with customers	585	645	459	388	865	1,114
Cost of revenue	499	544	389	321	721	946
Research and development	12	15	21	18	20	21
General and administrative	33	61	56	63	56	90
Operating income (loss)	20	2	(35)	(40)	43	22
Interest expense	8	8	9	15	14	11
Other income (expense)	—	(4)	75	(2)	(5)	(122)
Income tax expense (benefit)	(1)	(1)	103	(0)	1	(138)
Net income (loss)	(4)	(5)	(58)	(40)	17	26
Earnings per share, basic USD per share	(0.14)	(0.14)	(1.37)	(0.89)	0.31	0.46
Earnings per share, diluted USD per share	(0.14)	(0.19)	(1.37)	(0.89)	0.31	0.39
Weighted average shares, basic millions of shares	32	37	42	46	53	56
Weighted average shares, diluted millions of shares	32	61	42	46	53	67

Fiscal years (MAX's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Cash and cash equivalents	24	51	15	17	43	47
Accounts receivable	96	76	60	54	143	123
Prepaid and other current assets	8	10	6	4	4	4
Total current assets	128	137	80	75	190	174
Property and equipment, net	1	—	—	—	—	—
Right-of-use asset	—	4	3	2	2	1
Goodwill	18	18	48	48	48	48
Total assets	210	290	170	154	262	384
Accounts payable	98	62	54	56	106	91
Accrued liabilities	9	14	14	12	19	35
Current portion of long-term debt	0	9	9	12	9	22
Total current liabilities	107	84	77	80	133	148
Long-term debt	183	178	174	162	154	132
Lease liability, non-current	—	3	2	2	1	0
Total liabilities	315	351	256	248	309	413
Accumulated deficit	(419)	(424)	(482)	(523)	(506)	(480)
Total stockholders' equity	(34)	(4)	(16)	(10)	2	4
Total liabilities and equity	210	290	170	154	262	384

Fiscal years (MAX's year ends in late December)

In millions of dollars	FY 2020Dec 31, 2020	FY 2021Dec 31, 2021	FY 2022Dec 31, 2022	FY 2023Dec 31, 2023	FY 2024Dec 31, 2024	FY 2025Dec 31, 2025
Net income (loss)	(4)	(5)	(58)	(40)	17	26
Stock-based compensation	25	46	58	53	34	30
Net cash from operating activities	51	29	28	20	46	66
Purchases of property and equipment	0	1	0	0	0	0
Net cash from investing activities	(10)	(1)	(50)	(0)	(1)	(0)
Proceeds from issuing common stock	124	0	0	—	—	—
Proceeds from long-term debt	210	190	0	0	—	—
Repayments of long-term debt	124	186	10	10	13	10
Net cash from financing activities	(28)	(1)	(15)	(17)	(19)	(62)
Net change in cash	14	27	(36)	3	26	4

SIC 7389 and related industry codes, similar size. Each row is the latest quarter reported.

How peers are chosen

SIC 7389 and related industry codes with public float (or, where float is missing, quarterly revenue) between 0.2x and 5x the company's.
Each row is the latest quarter the company has reported, named in the Quarter column; when that filing is a 10-K, it is the fourth quarter, never the full year.
* marks a quarter worked out from the filing totals: for a 10-Q, the year-to-date total less the earlier one.
A cell reading “not reported” means the filings give no figure for that quarter alone.

Company	Cash ($M)	Revenue, quarter ($M)	Operating cash flow, quarter ($M)	Shares outstanding	Quarter
MediaAlpha	19	376	22*	not reported	Q3 FY26 10-QSep 30, 2026
CONDUENT	228	531	7*	155.5M	Q2 FY26 10-QJun 30, 2026
Mobility Global	186	468	not reported	294.8M	Q2 FY26 10-QJun 30, 2026
International Money Express	151	not reported	113*	30.2M	Q2 FY26 10-QJun 30, 2026
Paysign	176	28	1.3*	56.5M	Q2 FY26 10-QJun 30, 2026
Claritev	14	257	93*	16.9M	Q2 FY26 10-QJun 30, 2026
Nutex Health	205	211	34*	6.8M	Q2 FY26 10-QJun 30, 2026
Cass Information Systems	23	28	4.3*	12.8M	Q3 FY26 10-QSep 30, 2026
Priority Technology Holdings	120	262	32*	82.4M	Q2 FY26 10-QJun 30, 2026

Not investment advice. Not affiliated with the U.S. SEC.