Mediaalpha, Inc. balance sheet

At the end of fiscal 2025, Mediaalpha, Inc. had total assets of $384m, total liabilities of $413m and shareholders' equity of $4.2m. It held $46.9m in cash against $153m of debt: net debt of $107m.

Balance sheet

US$ millions unless shown otherwise. Fiscal years, plus the last twelve months (LTM) when newer.

Mediaalpha, Inc.: balance sheet, annual
Fiscal year	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Cash and equivalents	6	10	24	51	15	17	43	47	19
Receivables	—	56	96	76	60	54	143	123	167
Total current assets	—	67	128	137	80	75	190	174	193
Goodwill	—	18	18	18	48	48	48	48	48
Total assets	—	105	210	290	170	154	262	384	372
Accounts payable	—	40	98	62	54	56	106	91	122
Total current liabilities	—	48	107	84	77	80	133	148	146
Short-term debt	—	1	0	9	9	12	9	22	7
Long-term debt	—	97	183	178	174	162	154	132	168
Total debt	0	98	183	187	183	174	162	153	175
Total liabilities	—	145	315	351	256	248	309	413	352
Shareholders' equity	40	−114	−34	−4	−16	−10	2	4	51
Non-controlling interests and other (assets − liabilities − equity)	—	74	−71	−57	−70	−84	−49	−33	−32
Net debt (negative = net cash)	−6	88	159	136	169	157	119	107	156

US$ millions unless shown otherwise. Fiscal quarters.

Mediaalpha, Inc.: balance sheet, quarterly
Quarter	2024 Q4Dec 2024	2025 Q1Mar 2025	2025 Q2Jun 2025	2025 Q3Sept 2025	2025 Q4Dec 2025	2026 Q1Mar 2026	2026 Q2Jun 2026	2026 Q3Sept 2026
Receivables	143	115	103	129	123	134	142	167
Total current assets	190	182	192	206	174	165	171	193
Goodwill	48	48	48	48	48	48	48	48
Total assets	262	240	249	266	384	368	360	372
Accounts payable	106	82	76	103	91	91	113	122
Total current liabilities	133	109	149	190	148	113	133	146
Short-term debt	9	9	9	22	22	7	7	7
Long-term debt	154	151	149	134	132	156	170	168
Total debt	162	160	158	156	153	164	177	175
Total liabilities	309	281	306	332	413	397	365	352
Shareholders' equity	2	8	−4	−30	4	2	28	51
Non-controlling interests and other (assets − liabilities − equity)	−49	−49	−53	−36	−33	−31	−33	−32

Balances at each fiscal year end (quarter end in the quarterly view). Total debt is short- plus long-term borrowings, including lease debt where the company reports it within debt. Where assets do not equal liabilities plus shareholders' equity, the difference (non-controlling interests, redeemable preferred shares) is shown on its own line.

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Figures from Mediaalpha, Inc.'s SEC filings (10-K and 10-Q), retrieved October 29, 2026. How we read and check them: methodology and data sources. Not investment advice. Back to Mediaalpha, Inc.