NYSE$MAX

MediaAlpha Inc · Q3 2021 earnings

Q3 2021 earnings · · Investor relations

Briefing

Announced financial results for the third quarter of 2021.

MediaAlpha's Q3 2021 revenue was $152.7 million, a 1% increase year-over-year. The company faced headwinds in the P&C insurance vertical due to market challenges, but the Health insurance vertical continued its robust growth.

  • Revenue was $152.7 million, up 1% year over year.
  • Transaction Value was $255.1 million, up 17% year over year.
  • Net loss was $(4.3) million, compared with net income of $4.8 million in the third quarter of 2020.
  • Adjusted EBITDA was $13.8 million, compared with $14.0 million in the third quarter of 2020.

Headline financials

Total Revenue

$153M

Previous: $152M+0.8%
EPS (adj)

-$0.10

Previous: $0.19-152.6%
Transaction Value

$255M

Previous: $218M+17.2%
Gross Margin

16.2%

Previous: 13.7%+18.2%
Contribution Margin

17.1%

Previous: 14.3%+19.6%
Adjusted EBITDA

$13.8M

Previous: $14M-1.4%
Free Cash Flow

-$3.53M

No prior period
Net Income

-$3.53M

Previous: $4.8M-173.5%
Operating Income

-$54K

Previous: $8.44M-100.6%
Gross Profit

$24.7M

Previous: $20.7M+19.1%
Cash & Equivalents

$29.3M

No prior period
Total Assets

$246M

No prior period
Stock-Based Comp

$11.2M

No prior period

Revenue & EPS history

MediaAlpha · Revenue · Quarterly

$153M

Q3 2021+0.8%vs Q3 2020
Beat estimate in 5 of 8 quarters(63%)
ActualEstimate

Forward guidance

For the fourth quarter of 2021, MediaAlpha expects Transaction Value between $241 million - $256 million, Revenue between $151 million - $161 million, Contribution between $25 million - $28 million, and Adjusted EBITDA between $13 million - $15 million.

Tailwinds

  • Transaction Value between $241 million - $256 million
  • Revenue between $151 million - $161 million
  • Contribution between $25 million - $28 million
  • Adjusted EBITDA between $13 million - $15 million

Headwinds

  • Transaction Value representing a 3% year-over-year decline at the midpoint of the guidance range
  • Revenue representing an 18% year-over-year decline at the midpoint of the guidance range
  • Contribution representing a 13% year-over-year decline at the midpoint of the guidance range
  • Adjusted EBITDA representing a 23% year-over-year decline at the midpoint of the guidance range

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q3 2021

Historical avgQ3 2021

+3.4%

Avg return

Earnings day

+1.5%

Avg return

5 days after

+0.5%

Avg return

30 days after

50%

11 / 22 earnings

Positive

+31.8%

Q3 2022

Best reaction

-18.5%

Q4 2024

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026-0.1%-11.3%-11.8%
Q4 2025+12.3%+27.9%+23.4%
Q3 2025+10.8%+20.1%+14.7%
Q1 2025+14.2%+18.2%+21.4%
Q4 2024-18.5%-18.6%-11.0%
Q3 2024-12.6%-17.9%-35.5%
Q2 2024+15.0%+12.1%+23.4%
Q1 2024+9.0%+9.3%-12.2%
Q4 2023+22.3%+24.2%+26.0%
Q3 2023-4.6%-15.8%+0.1%
Q2 2023-3.0%-6.2%-13.2%
Q1 2023-2.4%-6.4%+50.7%
Q4 2022+12.3%+4.8%+1.0%
Q3 2022+31.8%+26.4%+2.3%
Q2 2022-15.0%-32.8%-28.9%
Q1 2022-9.6%-22.0%-31.2%
Q4 2021+28.9%+31.6%+39.1%
Q3 2021-1.5%+12.7%-2.1%
Q2 2021-6.6%-19.1%-25.2%
Q1 2021-13.1%-4.2%+3.6%
Q4 2020+3.3%+8.2%-30.3%
Q3 2020+1.8%-7.4%+7.2%
Q2 2020
Q1 2020
Q4 2019
Q3 2019
Q2 2019
Q1 2019
Q2 2018
Q1 2018

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