MediaAlpha(US:MAX) Globenewswireยท2025-04-30 20:05Core Insights - MediaAlpha, Inc. reported a record first quarter for 2025, exceeding expectations with significant revenue and transaction value growth, particularly in the Property & Casualty (P&C) insurance vertical [1][2] - The company achieved a revenue of $264.3 million, marking a 109% increase year over year, and a transaction value of $473.1 million, which is a 116% increase year over year [6][24] - Despite the strong performance, MediaAlpha reported a net loss of $(2.3) million for the quarter, compared to a net loss of $(1.5) million in the same period last year [6][20] Financial Performance - Revenue for the first quarter of 2025 was $264.3 million, up from $126.6 million in Q1 2024, reflecting a 109% year-over-year increase [6][20] - Transaction value reached $473.1 million, a 116% increase from $219.1 million in Q1 2024, with P&C insurance transaction value alone growing 200% to $407 million [6][26] - Adjusted EBITDA for the quarter was $29.4 million, compared to $14.4 million in Q1 2024, indicating strong operational performance [6][32] Business Outlook - For Q2 2025, MediaAlpha expects transaction value in the P&C insurance vertical to grow between 65% and 75% year over year, while anticipating a decline of 25% to 30% in the Health insurance vertical [4][7] - The company plans to exit the Travel segment by the end of Q2 2025, which is expected to have an immaterial impact on overall results [4] - Guidance for Q2 2025 includes projected revenue between $235 million and $255 million, representing a 37% year-over-year increase [7] Operational Metrics - The gross margin for Q1 2025 was 15.8%, down from 18.7% in Q1 2024, while the contribution margin decreased to 16.6% from 21.9% [6][29] - The company recorded a total of 119 million consumer referrals in 2024, showcasing its extensive partner network and operational scale [15] - MediaAlpha's platform facilitated $1.7 billion in advertising spend across various insurance sectors over the past year [15]