MediaAlpha reported a decrease in revenue by 34% year-over-year to $103.4 million and a net loss of $(13.0) million. The company is navigating challenging market conditions, particularly in the property & casualty (P&C) vertical, while maintaining focus on operating efficiencies.
Revenue decreased by 34% year-over-year to $103.4 million.
Transaction Value decreased by 29% year-over-year to $182.9 million.
Net loss was $(13.0) million, compared to $(0.4) million in the second quarter of 2021.
Adjusted EBITDA was $4.5 million, compared to $14.7 million in the second quarter of 2021.
For the third quarter of 2022, MediaAlpha expects a worsening year-over-year trend in customer acquisition spending by P&C insurance carrier partners and anticipates Transaction Value in the Health insurance vertical to be similar to the second quarter level.
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