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Jun 30, 2024
MediaAlpha Q2 2024 Earnings Report
Reported record quarterly performance with strongest transaction value and adjusted EBITDA.
Key Takeaways
MediaAlpha announced outstanding second quarter 2024 financial results, demonstrating the strength of its business model and solid execution. The company reported a 110% year-over-year increase in revenue, reaching $178.3 million. Transaction Value increased by 156% year-over-year to $321.8 million, with significant growth in the Property & Casualty insurance vertical.
Revenue increased by 110% year-over-year to $178.3 million.
Transaction Value increased by 156% year-over-year to $321.8 million.
Net income was $4.4 million, compared to a net loss of $(20.0) million in Q2 2023.
Adjusted EBITDA was $18.7 million, compared to $3.6 million in Q2 2023.
Forward Guidance
For the third quarter of 2024, MediaAlpha expects Transaction Value between $415 million - $435 million, Revenue between $240 million - $255 million, and Adjusted EBITDA between $22.0 million and $24.0 million.
Positive Outlook
- Transaction Value expected between $415 million - $435 million, representing a 290% year-over-year increase at the midpoint.
- Revenue expected between $240 million - $255 million, representing a 232% year-over-year increase at the midpoint.
- Adjusted EBITDA expected between $22.0 million and $24.0 million, representing a 541% year-over-year increase at the midpoint.
- P&C insurance vertical Transaction Value to be 40% to 45% higher than Q2 2024 levels.
- Health vertical Transaction Value to grow year-over-year at a rate similar to Q2 2024.
Challenges Ahead
- Contribution less Adjusted EBITDA is projected to be flat to slightly up compared with Q2 2024 levels.
- Inability to predict reconciling items that may affect net income (loss) without unreasonable effort, including equity-based compensation, transaction expenses and income tax expense.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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