MediaAlpha reported record third-quarter revenue that increased 23% year-over-year but fell short of analyst projections. Despite the top-line miss, diluted earnings per share of $0.46 significantly outperformed the $0.27 estimate. Growth was primarily fueled by aggressive carrier competition in the Property & Casualty insurance segment, which saw vertical revenue increase 27% year-over-year.

Key Highlights

  • All-time record revenue of $375.9 million was led by the Property & Casualty vertical, which contributed $365.9 million.
  • Diluted EPS of $0.46 exceeded estimates, supported by strong operating leverage and record Adjusted EBITDA of $39.5 million.
  • The company repurchased $9 million of stock and retired $23 million in book value of its Tax Receivable Agreement (TRA) liability for a cash payment of $12 million.
  • Fourth-quarter 2026 revenue guidance is projected between $355 million and $375 million, representing 25% year-over-year growth at the midpoint.