Filing Flows › MediaAlpha (MAX) › Q3 2026 › vs Q2 2026
MediaAlpha (MAX) Q3 2026 vs Q2 2026 (quarter over quarter)
MediaAlpha's revenue rose $59.1M (+19%) from $317M in Q2 2026 to $376M in Q3 2026. The biggest changes: Property & casualty insurance +$57.1M (+18%); Life insurance +$1.7M (+33%); Health insurance +$190K (+7%). Operating margin 7.7% against 6.3% (+1.4 pts).
MediaAlpha, Q3 2026: revenue $376M (+23% year over year), operating margin 7.7%, net earnings $25.8M, operating cash flow $21.6M. The chart draws each line against Q2 2026, the increases inside each band.
Margins
| Q3 2026 | Q2 2026 | Change | |
|---|---|---|---|
| Operating margin | 7.7% | 6.3% | +1.4 pts |
| Net margin | 6.9% | 12.4% | -5.6 pts |
| Free cash flow margin | 5.7% | 13.2% | -7.5 pts |
Every line
| Line | Q3 2026 | Q2 2026 | Change | % |
|---|---|---|---|---|
| Property & casualty insurance | $366M | $309M | $57.1M | +18% |
| Life insurance | $6.8M | $5.1M | $1.7M | +33% |
| Health insurance | $2.9M | $2.7M | $190K | +7% |
| Other | $302K | $219K | $83K | +38% |
| Revenue | $376M | $317M | $59.1M | +19% |
| Other income, net | $8.3M | $35.1M | −$26.8M | -76% |
| Operating profit | $28.8M | $20.0M | $8.9M | +44% |
| Costs & expenses | $347M | $297M | $50.2M | +17% |
| Pre-tax earnings | $37.2M | $55.1M | −$17.9M | -33% |
| Cost of revenue | $321M | $272M | $48.9M | +18% |
| Research & development | $6.2M | $6.0M | $168K | +3% |
| Sales & marketing | $5.2M | $5.2M | $84K | +2% |
| General & admin | $15.0M | $14.0M | $1.0M | +7% |
| Net earnings | $25.8M | $39.4M | −$13.7M | -35% |
| Minority interests | $3.6M | $2.3M | $1.3M | +54% |
| Income tax | $7.8M | $13.3M | −$5.5M | -41% |
| Depreciation & amortization | $575K | $576K | −$1K | -0.2% |
| Share-based compensation | $8.1M | $8.5M | −$349K | -4% |
| Working capital & other | $12.8M | $5.9M | $6.9M | +118% |
| Operating cash flow | $21.6M | $42.6M | −$21.0M | -49% |
| Free cash flow (OCF − capex) | $21.5M | $41.8M | −$20.3M | -49% |
| Capital expenditures | $128K | $774K | −$646K | -83% |
Questions
How much did MediaAlpha's revenue grow quarter over quarter in Q3 2026?
MediaAlpha's revenue rose $59.1M (+19%) from $317M in Q2 2026 to $376M in Q3 2026.
What drove MediaAlpha's revenue change in Q3 2026?
Property & casualty insurance +$57.1M (+18%); Life insurance +$1.7M (+33%); Health insurance +$190K (+7%).