MediaAlpha (MAX) Operating Expenses (2019 - 2026)
MediaAlpha (MAX) reported Operating Expenses of $296.91 million for Q2 2026, up 9.3% from $271.66 million a year earlier and up 3.2% from the prior quarter.
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Analysis
MediaAlpha (MAX) Operating Expenses (2019 - 2026) Analysis & Trends
Over the twelve months ended Jun 30, 2026, MediaAlpha's Operating Expenses came in at $1.14 billion, up 7.4% year-over-year; for FY2025, it came in at $1.09 billion, up 32.8% from FY2024.
- Operating Expenses has a five-year compound annual growth rate of 14.1% (FY2020 to FY2025).
- By year, Operating Expenses came in at $821.98 million in FY2024 (+92.0%), $428.07 million in FY2023 (-13.4%), $494.46 million in FY2022 (-23.1%) and $643.13 million in FY2021 (+13.8%).
- The Q2 2026 figure ranks as the highest quarterly Operating Expenses in data going back to Q3 2019.
- Year over year, Operating Expenses gained in seven of the last eight quarters, with growth averaging 64.6%.
- The high point for year-over-year Operating Expenses in five years was Q3 2024 (growth of 172.6%); the low point was Q3 2022 (a decline of 34.8%).
- Per Business Quant data, the three quarters before Q2 2026 came in at $287.63 million (Q1 2026), $268.84 million (Q4 2025) and $286.78 million (Q3 2025).
Peer Set
Peer Comparison
| # | Company | Market Cap | Enterprise Value | Gross Profit (Qtr) | Opex (Qtr) |
|---|---|---|---|---|---|
| 1 | Alphabet | 4,164.76 Bn | 3,922.28 Bn | 73.85 Bn | 79.03 Bn |
| 2 | Meta Platforms | 1,823.40 Bn | 1,525.92 Bn | 49.47 Bn | 42.03 Bn |
| 3 | Netflix | 288.27 Bn | 248.47 Bn | 6.52 Bn | 1.51 Bn |
| 4 | Alibaba Group Holding | 252.72 Bn | 70.58 Bn | 15.11 Bn | -5.17 Bn |
| 5 | Shopify | 186.52 Bn | 163.71 Bn | 1.71 Bn | 1.22 Bn |
| 6 | Uber Technologies | 139.11 Bn | 111.09 Bn | 6.38 Bn | 12.30 Bn |
| 7 | Booking Holdings | 123.13 Bn | 56.18 Bn | - | 4.85 Bn |
| 8 | PDD Holdings | 111.72 Bn | -140.21 Bn | 9.45 Bn | -5.39 Bn |
| 9 | AppLovin | 103.35 Bn | 93.38 Bn | 1.70 Bn | 429.41 Mn |
| 10 | MediaAlpha | 488.00 Mn | 319.13 Mn | 45.17 Mn | 296.91 Mn |
Historic Data
Download Data
Historic Data
| Date | Value |
|---|---|
| Jun 30, 2026 | 296.91 Mn |
| Mar 31, 2026 | 287.63 Mn |
| Dec 31, 2025 | 268.84 Mn |
| Sep 30, 2025 | 286.78 Mn |
| Jun 30, 2025 | 271.66 Mn |
| Mar 31, 2025 | 264.19 Mn |
| Dec 31, 2024 | 282.40 Mn |
| Sep 30, 2024 | 243.53 Mn |
| Jun 30, 2024 | 171.78 Mn |
| Mar 31, 2024 | 124.28 Mn |
| Dec 31, 2023 | 116.73 Mn |
| Sep 30, 2023 | 89.32 Mn |
| Jun 30, 2023 | 100.84 Mn |
| Mar 31, 2023 | 121.18 Mn |
| Dec 31, 2022 | 130.54 Mn |
| Sep 30, 2022 | 99.59 Mn |
| Jun 30, 2022 | 113.86 Mn |
| Mar 31, 2022 | 150.47 Mn |
| Dec 31, 2021 | 163.22 Mn |
| Sep 30, 2021 | 152.81 Mn |
API Access
MediaAlpha Operating Expenses API
Pull this series into your own models, spreadsheets and apps with the Business Quant
Historical Metrics API. The request below matches the chart above — change the
frequency, period or values and it follows. Swap YOUR_API_KEY for your own key.
https://data.businessquant.com/historic?slug=operating-expenses&ticker=MAX&period=max&api_key=YOUR_API_KEYimport requests
url = "https://data.businessquant.com/historic"
params = {"slug": "operating-expenses", "ticker": "MAX", "period": "max", "api_key": "YOUR_API_KEY"}
data = requests.get(url, params=params).json()const res = await fetch("https://data.businessquant.com/historic?slug=operating-expenses&ticker=MAX&period=max&api_key=YOUR_API_KEY");
const data = await res.json();