MediaAlpha (MAX) Gross Margin (2019 - 2026)
MediaAlpha (MAX) posted quarterly Gross Margin of 14.26% for Q2 2026, down 72.0% year-over-year from 50.91% in Q2 2025, and down 5.36% quarter-over-quarter from 15.06% in Q1 2026.
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MediaAlpha (MAX) Gross Margin (2019 - 2026) Analysis & Trends
MediaAlpha (MAX) has reported Gross Margin for 8 consecutive years, with 14.26% the latest figure, recorded in Q2 2026.
- In Q2 2026, Gross Margin fell 72.0% year-over-year to 14.26%; the TTM figure through Jun 2026 stood at 14.71% (down 87.0% YoY), while the FY2025 annual figure was 15.05%, down 156.0% from the prior year.
- Gross Margin fell to 14.26% in Q2 2026 per MAX's latest filing, from 15.06% in the prior quarter.
- Across five years, Gross Margin topped out at 19.02% in Q4 2023 and bottomed at 14.16% in Q3 2025.
- Historically, Gross Margin has averaged 15.91% across 5 years, with a median of 15.57% in 2025.
- Annual changes were most pronounced in 2023 — Gross Margin jumped 277 bps — and 2025, when it sank 294 bps.
- MediaAlpha's Gross Margin stood at 16.24% in 2022, then advanced by 17 bps to 19.02% in 2023, then decreased by 14 bps to 16.29% in 2024, then retreated by 6 bps to 15.39% in 2025, then decreased by 7 bps to 14.26% in 2026.
- Business Quant data shows MAX's Gross Margin at 14.26% in Q2 2026, 15.06% in Q1 2026, and 15.39% in Q4 2025.
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Gross Margin (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,083.83 Bn | 3,654.79 Bn | 73.85 Bn | 61.65% |
| 2 | Meta Platforms | 1,456.07 Bn | 1,365.81 Bn | 49.47 Bn | 81.37% |
| 3 | Spotify Technology | 111.71 Bn | 104.79 Bn | 1.86 Bn | 33.41% |
| 4 | Nebius | 50.03 Bn | 40.93 Bn | 448.70 Mn | 77.06% |
| 5 | 28.44 Bn | 25.65 Bn | 734.60 Mn | 91.27% | |
| 6 | Bilibili | 13.59 Bn | 11.45 Bn | 433.97 Mn | 37.22% |
| 7 | Tencent Music Entertainment | 12.71 Bn | 9.21 Bn | 582.00 Mn | - |
| 8 | 12.21 Bn | 10.93 Bn | 922.30 Mn | 78.18% | |
| 9 | Match | 9.45 Bn | 8.86 Bn | 648.84 Mn | 76.06% |
| 10 | MediaAlpha | 681.52 Mn | 657.78 Mn | 45.17 Mn | 14.26% |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 14.26% |
| Mar 31, 2026 | 15.06% |
| Dec 31, 2025 | 15.39% |
| Sep 30, 2025 | 14.16% |
| Jun 30, 2025 | 14.98% |
| Mar 31, 2025 | 15.75% |
| Dec 31, 2024 | 16.29% |
| Sep 30, 2024 | 15.14% |
| Jun 30, 2024 | 17.77% |
| Mar 31, 2024 | 18.70% |
| Dec 31, 2023 | 19.02% |
| Sep 30, 2023 | 16.49% |
| Jun 30, 2023 | 16.24% |
| Mar 31, 2023 | 16.45% |
| Dec 31, 2022 | 16.24% |
| Sep 30, 2022 | 14.24% |
| Jun 30, 2022 | 15.01% |
| Mar 31, 2022 | 15.23% |
| Dec 31, 2021 | 15.72% |
| Sep 30, 2021 | 16.15% |