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Mar 31, 2022
MediaAlpha Q1 2022 Earnings Report
Announced first quarter 2022 financial results, showing a decrease in revenue and transaction value, but growth in the Health insurance vertical.
Key Takeaways
MediaAlpha reported a decrease in revenue by 18% year-over-year to $142.6 million, and a decrease in Transaction Value by 9% year-over-year to $239 million. The Property & Casualty vertical was affected by a cyclical decline, while the Health insurance vertical grew by 20%. The company reported a net loss of $9.8 million and an Adjusted EBITDA of $7.1 million.
Revenue was $143 million, down 18% year over year.
Transaction Value was $239 million, down 9% year over year.
Transaction Value from Property & Casualty decreased 19% year over year to $148 million.
Transaction Value from Health increased 20% year over year to $60 million.
Forward Guidance
For the second quarter of 2022, MediaAlpha expects Transaction Value between $180 million - $195 million, Revenue between $110 million - $120 million, and Adjusted EBITDA between $2.5 million - $5.0 million.
Positive Outlook
- Expects year-over-year growth in the Health insurance vertical despite unusually high volumes experienced due to the extended Open Enrollment Period in 2021.
Challenges Ahead
- Reflects a continuing year-over-year reduction in customer acquisition spending by P&C insurance carrier partners.
- Transaction Value between $180 million - $195 million, representing a 27% year-over-year decline at the midpoint of the guidance range.
- Revenue between $110 million - $120 million, representing a 27% year-over-year decline at the midpoint of the guidance range.
- Adjusted EBITDA between $2.5 million - $5.0 million, representing a 75% year-over-year decline at the midpoint of the guidance range.
- Adjusted EBITDA to decline year over year in Q2 2022 at a greater rate than Transaction Value, Revenue, and Contribution due to the increases in public company costs and headcount over the last year.
Historical Earnings Impact
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