Mediaalpha, Inc. income statement

In fiscal 2025, Mediaalpha, Inc. reported revenue of $1.11bn, up 28.8% on the year before, operating income of $22.1m (a 2.0% margin) and net income of $25.6m, or $0.39 per diluted share. Every line below comes from the company's 10-K and 10-Q filings; column headings link to the filing.

Income statement

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

Mediaalpha, Inc.: income statement, annual
Fiscal year	2018Dec 2018	2019Dec 2019	2020Dec 2020	2021Dec 2021	2022Dec 2022	2023Dec 2023	2024Dec 2024	2025Dec 2025	LTMSept 2026
Revenue	297	408	585	645	459	388	865	1,114	1,294
Cost of revenue	248	343	499	544	389	321	721	946	1,102
Gross profit	49	65	85	102	70	67	144	168	192
Research and development	10	7	12	15	21	18	20	21	23
Selling and marketing	12	14	20	23	29	25	25	21	21
General and administrative	8	19	33	61	56	63	56	90	55
Operating income	19	25	20	2	−35	−40	43	22	93
Interest expense	1	7	8	8	9	15	14	11	11
Income before tax	18	18	9	−10	30	−57	24	−111	9
Income tax	—	0	−1	−1	103	−0	1	−138	−111
Net income	18	18	−4	−5	−58	−40	17	26	108
Diluted EPS	—	—	−$0.07	−$0.19	−$1.37	−$0.89	$0.31	$0.39	—
Diluted shares (average)	—	—	64m	61m	42m	46m	53m	67m	—
EBITDA	20	25	20	3	−35	−40	43	22	94

US$ millions unless shown otherwise. Fiscal quarters.

Mediaalpha, Inc.: income statement, 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
Revenue	301	264	252	307	291	310	317	376
Cost of revenue	252	223	214	263	246	263	272	321
Gross profit	49	42	38	43	45	47	45	55
Research and development	5	5	5	6	5	5	6	6
Selling and marketing	6	6	5	5	5	5	5	5
General and administrative	20	18	47	13	12	14	14	15
Operating income	18	0	−20	20	22	22	20	29
Interest expense	3	3	3	3	3	2	3	3
Income before tax	8	−2	−22	18	−104	21	55	37
Income tax	1	−0	0	0	−138	7	13	8
Net income	5	−2	−19	15	31	11	39	26
Diluted EPS	$0.09	−$0.04	−$0.33	$0.26	$0.50	$0.21	$0.65	$0.46
EBITDA	18	0	−20	20	22	22	20	29

EBITDA is operating income plus depreciation and amortisation. EPS and share counts are restated for stock splits. A dash means the company did not report the line for that period; expense lines are shown as reported, so they need not add up to the totals when a company reports other items between them.

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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.