MediaAlpha, Inc. - MAX STOCK NEWS

MediaAlpha, Inc. (NYSE: MAX) announced the resignation of CFO Tigran Sinanyan, effective October 1, 2021, as he pursues a management role at a private company. Sinanyan, who has been with MediaAlpha since its inception, will assist in the transition for three months. CEO Steve Yi expressed gratitude for Sinanyan's contributions, highlighted his role in the company's growth and IPO. Additionally, MediaAlpha reaffirmed its financial guidance for Q2 and the full year 2021, emphasizing stability amid leadership changes.

MediaAlpha, Inc. (NYSE: MAX) announced participation in virtual fireside chats at two investor conferences. Steve Yi, CEO, and Tigran Sinanyan, CFO, will speak at the 49th Annual J.P. Morgan Global Technology, Media and Communications Conference on May 25, 2021, at 4:25 p.m. ET, and the 41st Annual William Blair Growth Stock Conference on June 1, 2021, at 4:20 p.m. ET. Both presentations will be webcast live and archived on MediaAlpha’s investor relations website.

Investors can register for these events through provided links.

MediaAlpha, Inc. (NYSE: MAX) reported strong financial results for Q1 2021, with revenue growth of 45% year-over-year to $173.6 million and a Transaction Value increase of 58% to $262.5 million. Despite a decline in net income to $0.2 million from $8.8 million in Q1 2020, the company raised its full-year guidance for Transaction Value and Adjusted EBITDA. The outlook for Q2 anticipates revenue between $156 million - $161 million, reflecting 28% growth, and a full-year forecast of $680 million - $710 million in revenue, representing 19% growth.

MediaAlpha reported preliminary financial results for Q1 2021, as disclosed in White Mountains Insurance Group's Form 10-Q. Key figures include total revenues of $173.6 million, total expenses of $173.4 million, and net income of $0.2 million. The company has total assets of $241.7 million and total liabilities of $331.1 million. As of the reporting date, White Mountains holds a 29% ownership stake in MediaAlpha with nearly 17 million shares. The finalized Q1 results are set to be published on May 13, 2021.

MediaAlpha, Inc. (NYSE: MAX) will announce its financial results for Q1 2021 on May 13, 2021, after market close. A conference call to discuss these results is scheduled for 2:00 p.m. PT (5:00 p.m. ET) on the same day. Interested parties can access the live webcast through MediaAlpha's Investor Relations website. Participants may also dial in using toll-free numbers. An audio replay of the conference call will be available for two weeks post-call.

MediaAlpha announced the closing of a secondary offering of 8,050,000 shares of its Class A common stock at $46.00 per share, with 1,050,000 shares sold under an underwriter's option. MediaAlpha did not sell any shares or receive proceeds from this offering. This transaction involved several financial institutions, including J.P. Morgan and Citigroup, as joint bookrunners. The registration statement for these securities was effective as of March 18, 2021. The press release clarifies it is not an offer to sell or solicit buyers in jurisdictions where it would be unlawful.

MediaAlpha announced the pricing of a secondary offering of 7,000,000 shares of its Class A common stock at $46 per share by certain selling stockholders. The offering is expected to close on March 23, 2021, subject to customary closing conditions. Importantly, MediaAlpha will not be offering any shares nor receiving any proceeds from this transaction. The underwriters have a 30-day option to purchase an additional 1,050,000 shares. J.P. Morgan, Citigroup, Credit Suisse, and RBC Capital Markets are the joint bookrunners for this offering.

MediaAlpha, Inc. (NYSE: MAX) has filed a registration statement on Form S-1 with the SEC for a proposed secondary offering of up to 7,000,000 shares of its Class A common stock. This offering, which is initiated by certain selling stockholders, does not include shares offered by MediaAlpha itself. The date and terms of the offering remain uncertain, pending market conditions. Major financial firms, including J.P. Morgan and Citigroup, are acting as underwriters. The press release clarifies that this notice does not constitute an offer to sell or solicit offers to buy these securities.

MediaAlpha, Inc. (MAX) announced its financial results for Q4 and FY 2020, showcasing significant growth. Q4 revenue was $190.2 million, up 51% year-over-year, while FY revenue hit $584.8 million, a 43% increase. However, the company reported a Q4 net loss of $13.2 million compared to a profit of $10.4 million in 2019. The company anticipates strong growth in Q1 2021, with projected revenue between $170 - $175 million, indicating a 44% year-over-year growth. For the full year, 2021 revenue expectations range from $700 - $740 million, reflecting a 23% increase.