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Mar 31, 2024
MediaAlpha Q1 2024 Earnings Report
Announced first quarter 2024 financial results, exceeding expectations across key financial metrics driven by robust growth in the Property & Casualty vertical.
Key Takeaways
MediaAlpha reported a 13% increase in revenue year-over-year, reaching $126.6 million in Q1 2024. The company experienced a net loss of $(1.5) million, an improvement from $(14.6) million in the first quarter of 2023. Adjusted EBITDA increased to $14.4 million, compared to $7.3 million in the same period last year.
Revenue of $126.6 million, up 13% year over year.
Transaction Value of $219.1 million, up 13% year over year.
Transaction Value from Property & Casualty up 15% year over year to $135 million.
Transaction Value from Health up 16% year over year to $69 million.
Forward Guidance
MediaAlpha expects a continuation of recent trends in customer acquisition spending in the P&C vertical and anticipates growth in the Health vertical. The company provides guidance for Q2 2024.
Positive Outlook
- Transaction Value between $285 million - $300 million, representing a 132% year-over-year increase at the midpoint of the guidance range.
- Revenue between $145 million - $155 million, representing a 77% year-over-year increase at the midpoint of the guidance range.
- Adjusted EBITDA between $15.5 million and $17.5 million, representing a 359% year-over-year increase at the midpoint of the guidance range.
- Transaction Value in P&C insurance vertical to be 60% to 70% higher than Q1 2024 levels.
- Transaction Value in Health vertical to grow at a high single to low double-digit rate year over year.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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