MediaAlpha (MAX) Earnings Call Presentation

Market Opportunity & Growth - Digital insurance advertising spend is projected to reach $14 billion by 2026[13], representing a 23-26% CAGR from 2023[20] - Digital insurance ad spend growth is expected to be 27% in 2024[13], outpacing the overall digital ad spend growth of 13%[22] - The Property & Casualty (P&C) insurance industry is showing signs of recovery, with carriers refocusing on growth and customer acquisition as underwriting results improve[33] MediaAlpha's Performance & Scale - MediaAlpha's LTM (Last Twelve Months) Transaction Value reached $1.7 billion[17] - The company achieved $12.0 million in LTM Transaction Value per employee[17] - Q1 2025 Adjusted EBITDA grew by 104% year-over-year, reaching $29.4 million[17] Financial Overview - In Q1 2025, Transaction Value was $473 million[51], Contribution was $44 million[51], and Adjusted EBITDA was $29.4 million[17] - P&C contributed $407 million to Transaction Value in Q1 2025[51], while Health contributed $58 million[51], Life contributed $7 million[51], and other verticals contributed $1 million[51] - Adjusted EBITDA for the year 2024 was $96 million[49], and LTM Q1 2025 Adjusted EBITDA reached $111 million[49]