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Sep 30, 2024
MediaAlpha Q3 2024 Earnings Report
Reported record results across key metrics, driven by P&C insurance vertical growth.
Key Takeaways
MediaAlpha announced excellent third-quarter results with record performance across key metrics. Revenue increased by 247% year-over-year to $259.1 million, and Transaction Value rose by 314% year-over-year to $451.8 million. The P&C insurance vertical was a significant driver of growth, with Transaction Value up 766% year-over-year.
Revenue increased by 247% year-over-year to $259.1 million.
Transaction Value increased by 314% year-over-year to $451.8 million.
Net income was $11.9 million, compared to a net loss of $(18.7) million in the third quarter of 2023.
Adjusted EBITDA was $26.3 million, compared to $3.6 million in the third quarter of 2023.
Forward Guidance
For the fourth quarter of 2024, MediaAlpha expects Transaction Value between $470 million - $495 million, Revenue between $275 million - $295 million, and Adjusted EBITDA between $29.5 million and $32.5 million.
Positive Outlook
- Transaction Value between $470 million - $495 million, representing a 192% year-over-year increase at the midpoint of the guidance range
- Revenue between $275 million - $295 million, representing a 143% year-over-year increase at the midpoint of the guidance range
- Adjusted EBITDA between $29.5 million and $32.5 million, representing a 144% year-over-year increase at the midpoint of the guidance range
- Contribution less Adjusted EBITDA to be approximately $0.5 - $1.0 million higher than in Q3 2024.
Challenges Ahead
- Transaction Value in P&C insurance vertical to be flat to slightly up as compared to Q3 2024 levels.
- Transaction Value in Health insurance vertical to be down mid-single digits year over year due to headwinds in Medicare.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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