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Sentiment · FY2026 Q1
| Analyst | Firm | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| Thomas McJoynt-Griffith | KBW | 10 (20%) |
| Maria Ripps | Canaccord Genuity | 6 (17%) |
| Mike Zaremski | BMO Capital Markets | 6 (50%) |
| Ben Hendrix | RBC Capital Markets | 6 (33%) |
| Andy Kligerman | TD Cowen | 5 (20%) |
| Cory Carpenter | JPMorgan | 4 (25%) |
| Eric Sheridan | Goldman Sachs | 3 (0%) |
| Firm | Analysts | Questions (Challenge)Percentage of questions scored as challenging — where the analyst pushed back, pressed for specifics, or questioned management's assumptions. |
|---|---|---|
| KBW | 1 | 10 (20%) |
| Canaccord Genuity | 2 | 7 (29%) |
| RBC Capital Markets | 1 | 6 (33%) |
| BMO Capital Markets | 1 |
| 6 (50%) |
| TD Cowen | 1 | 5 (20%) |
| JPMorgan | 1 | 4 (25%) |
| Goldman Sachs | 1 | 3 (0%) |
MediaAlpha capped a record 2025, crossing $2 billion of transaction value, $1 billion of revenue, and $100 million of adjusted EBITDA for the first time, with full-year transaction value up 45% on 65% P&C growth. In the fourth quarter, transaction value rose 23% to $613 million and P&C grew 38%, but GAAP revenue slipped 3% to $291 million (up 9% excluding under-65 health) because a higher private-marketplace mix is recognized on a net basis. Adjusted EBITDA was $30.8 million, down 16% year over year on the under-65 reset, though core adjusted EBITDA excluding under-65 grew about 10%, and GAAP EPS of $0.50 was lifted by a one-time deferred-tax valuation-allowance release. Management repurchased $47.3 million of stock (about 7% of shares) in 2025 and raised the buyback authorization to $100 million, guiding first-quarter 2026 transaction value to $570 million to $595 million and revenue to $285 million to $305 million. Executives argued that AI-driven search is a tailwind, with P&C click volume up more than 20% year over year, while carrier control of quoting and binding keeps MediaAlpha's connective infrastructure defensible.
Demand | Competitive Dynamics | Margin | Regulation Policy | Guidance Reliability | Cloud & AI | Capital Allocation | Trade Tariffs | |
|---|---|---|---|---|---|---|---|---|
| 2024Q4 | 2 | 1 | 1 | 1 | ||||
| 2025Q1 | 4 | 3 | 1 | 1 | 1 | 2 | ||
| 2025Q2 | 3 | 3 | 2 | 1 | 1 | 1 | ||
| 2025Q3 | 5 | 4 | 3 | 1 | 2 | |||
| 2025Q4 | 3 | 5 | 1 | 3 | ||||
| 2026Q1 | 3 | 1 | 1 | 1 | 1 |
| '24Q4 | '25Q1 | '25Q2 | '25Q3 | '25Q4 | '26Q1 | |
|---|---|---|---|---|---|---|
| Demand | 2 | 4 | 3 | 5 | 3 | 3 |
| Competitive Dynamics | 3 | 3 | 4 | 5 | 1 | |
| Margin | 1 | 2 | 3 | |||
| Regulation Policy | 1 | 1 | 1 | 1 | 1 | |
| Guidance Reliability | 1 | 1 | 2 | 1 | ||
| Cloud & AI | 3 | 1 | ||||
| Capital Allocation | 1 | 1 | 1 | |||
| Trade Tariffs | 2 | 1 |
What MAX and other companies said about each other on FY2025 Q4 earnings calls — extracted verbatim from public transcripts. Mentions from the newest quarter are a Pro feature.
“Progressive has a big independent channel. Allstate has a growing independent channel.”
An analyst notes Allstate has a growing independent-agency channel, relevant to whether large carriers might expose rates through LLM-based comparison.
“Progressive has a big independent channel. Allstate has a growing independent channel.”
An analyst notes Progressive has a big independent-agency channel, relevant to whether large carriers might eventually expose rates through LLM-based comparison.
| Company | Score | Trend | Rev YoY |
|---|---|---|---|
MAX MediaAlpha, Inc. | 8 | +17.3% | |
| DASH DoorDash | 7 | +33.1% | |
| EVER EverQuote, Inc. | 8 | +14.5% | |
| GOOGL Alphabet Inc. | 9 | +21.8% | |
| META Meta Platforms, Inc. | 8 | +33.1% | |
| NBIS Nebius Group N.V. | 8 | +621.5% | |
| RDDT Reddit, Inc. | 9 | +69.1% | |
| YELP Yelp Inc. | 6 | +0.8% |