MediaAlpha (MAX) Cost of Revenue (2019 - 2026)

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.