MediaAlpha (MAX) Cost of Revenue (2019 - 2026)
MediaAlpha (MAX) posted quarterly Cost of Revenue of $271.7 million for Q2 2026, up 27.0% year-over-year from $213.9 million in Q2 2025, and up 3.19% quarter-over-quarter from $263.3 million in Q1 2026.
MediaAlpha (MAX) Cost of Revenue (2019 - 2026) Analysis & Trends
MediaAlpha (MAX) has reported Cost of Revenue for 8 consecutive years, with $271.7 million the latest figure, recorded in Q2 2026.
- In Q2 2026, Cost of Revenue rose 27.0% year-over-year to $271.7 million; the TTM figure through Jun 2026 stood at $1.0 billion (up 15.01% YoY), while the FY2025 annual figure was $946.1 million, up 31.19% from the prior year.
- Cost of Revenue climbed to $271.7 million in Q2 2026 per MAX's latest filing, from $263.3 million in the prior quarter.
- Across five years, Cost of Revenue topped out at $271.7 million in Q2 2026 and bottomed at $62.3 million in Q3 2023.
- Historically, Cost of Revenue has averaged $161.8 million across 5 years, with a median of $133.7 million in 2022.
- Annual changes were most pronounced in 2022 — Cost of Revenue slumped 40.39% — and 2024, when it surged 253.11%.
- MediaAlpha's Cost of Revenue stood at $103.9 million in 2022, then declined by 8.64% to $94.9 million in 2023, then soared by 165.21% to $251.7 million in 2024, then slipped by 2.11% to $246.3 million in 2025, then gained by 10.29% to $271.7 million in 2026.
- Business Quant data shows MAX's Cost of Revenue at $271.7 million in Q2 2026, $263.3 million in Q1 2026, and $246.3 million in Q4 2025.
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Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Cost of Rev (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,236.63 Bn | 3,807.59 Bn | 73.85 Bn | 45.94 Bn |
| 2 | Meta Platforms | 1,541.85 Bn | 1,451.59 Bn | 49.47 Bn | 11.33 Bn |
| 3 | Taboola.com | 1,147.41 Bn | 1,147.28 Bn | 139.48 Mn | 337.35 Mn |
| 4 | Baidu | 288.21 Bn | 283.72 Bn | 1.88 Mn | 2.84 Bn |
| 5 | Spotify Technology | 103.56 Bn | 93.32 Bn | 1.75 Bn | 3.56 Bn |
| 6 | Joyy | 78.26 Bn | 77.37 Bn | 205.64 Mn | 376.28 Mn |
| 7 | BILI Social International | 60.58 Bn | 60.58 Bn | 405,933.00 | 131,586.00 |
| 8 | Nebius | 49.40 Bn | 39.78 Bn | 295.20 Mn | 103.80 Mn |
| 9 | 30.61 Bn | 27.82 Bn | 734.60 Mn | 70.31 Mn | |
| 10 | MediaAlpha | 708.94 Mn | 685.19 Mn | 45.17 Mn | 271.70 Mn |
Historic Data
Download Data| Date | Value |
|---|---|
| Jun 30, 2026 | 271.70 Mn |
| Jun 30, 2026 | 271.70 Mn |
| Mar 31, 2026 | 263.31 Mn |
| Mar 31, 2026 | 263.31 Mn |
| Dec 31, 2025 | 246.34 Mn |
| Dec 31, 2025 | 246.34 Mn |
| Sep 30, 2025 | 263.11 Mn |
| Sep 30, 2025 | 263.11 Mn |
| Jun 30, 2025 | 213.94 Mn |
| Jun 30, 2025 | 213.94 Mn |
| Mar 31, 2025 | 222.67 Mn |
| Mar 31, 2025 | 222.67 Mn |
| Dec 31, 2024 | 251.67 Mn |
| Dec 31, 2024 | 251.67 Mn |
| Sep 30, 2024 | 219.91 Mn |
| Sep 30, 2024 | 219.91 Mn |
| Jun 30, 2024 | 146.59 Mn |
| Jun 30, 2024 | 146.59 Mn |
| Mar 31, 2024 | 102.97 Mn |
| Mar 31, 2024 | 102.97 Mn |