MediaAlpha(MAX) - 2025 Q4 - Annual Report

Table of Contents Washington, D.C. 20549 ________________________ FORM 10-K ________________________ UNITED STATES SECURITIES AND EXCHANGE COMMISSION (Mark One) x ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2025 OR o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 FOR THE TRANSITION PERIOD FROM TO Commission File Number 001-39671 ________________________ MediaAlpha, Inc. (Exact name of Re ...