Growth Metrics

MediaAlpha (MAX) Cost of Revenue (2019 - 2025)

MediaAlpha has reported Cost of Revenue over the past 7 years, most recently at $246.3 million for Q4 2025.

  • Quarterly results put Cost of Revenue at $246.3 million for Q4 2025, down 2.11% from a year ago — trailing twelve months through Dec 2025 was $729.0 million (up 169.73% YoY), and the annual figure for FY2025 was $946.1 million, up 31.19%.
  • Cost of Revenue for Q4 2025 was $246.3 million at MediaAlpha, down from $263.1 million in the prior quarter.
  • Over the last five years, Cost of Revenue for MAX hit a ceiling of $263.1 million in Q3 2025 and a floor of -$384.7 million in Q4 2021.
  • Median Cost of Revenue over the past 5 years was $6.8 million (2022), compared with a mean of $43.6 million.
  • Biggest five-year swings in Cost of Revenue: plummeted 178.43% in 2021 and later skyrocketed 4370.09% in 2024.
  • MediaAlpha's Cost of Revenue stood at -$384.7 million in 2021, then soared by 33.38% to -$256.3 million in 2022, then soared by 102.2% to $5.6 million in 2023, then skyrocketed by 4370.09% to $251.7 million in 2024, then decreased by 2.11% to $246.3 million in 2025.
  • The last three reported values for Cost of Revenue were $246.3 million (Q4 2025), $263.1 million (Q3 2025), and $213.9 million (Q2 2025) per Business Quant data.