Pulling SEC filings + quote and writing the call…
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Revenue | $297M | $408M | $585M | $645M | $459M | $388M | $865M | $1.11B |
| Revenue growth | — | 37.4% | 43.3% | 10.3% | -28.9% | -15.4% | 122.8% | 28.8% |
| Operating income | $19.3M | $24.8M | $19.5M | $2.15M | -$35.4M | -$39.9M | $42.7M | $22.1M |
| Operating margin | 6.5% | 6.1% | 3.3% | 0.3% | -7.7% | -10.3% | 4.9% | 2.0% |
| Net income | $18.1M | $17.8M | -$4.37M | -$5.28M | -$57.7M | -$40.4M | $16.6M | $25.6M |
| Net margin | 6.1% | 4.4% | -0.7% | -0.8% | -12.6% | -10.4% | 1.9% | 2.3% |
| EPS (diluted) | — | — | -$0.14 | -$0.19 | -$1.37 | -$0.89 | $0.31 | $0.39 |
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Operating cash flow | $22.6M | $22.1M | $51.4M | $28.6M | $28.3M | $20.2M | $45.9M | $65.6M |
| Capital expenditures | $630K | $146K | $296K | $650K | $98.0K | $73.0K | $254K | $340K |
| Free cash flow | $22.0M | $22.0M | $51.1M | $28.0M | $28.2M | $20.2M | $45.6M | $65.3M |
| Fiscal year | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|
| Cash & equivalents | $5.66M | $10.0M | $23.6M | $50.6M | $14.5M | $17.3M | $43.3M | $46.9M |
| Total assets | — | $105M | $210M | $290M | $170M | $154M | $262M | $384M |
| Total liabilities | — | $145M | $315M | $351M | $256M | $248M | $309M | $413M |
| Long-term debt | — | $96.7M | $183M | $178M | $174M | $162M | $154M | $132M |
| Shareholders' equity | $40.5M | -$114M | -$33.8M | -$4.34M | -$16.0M | -$10.3M | $2.38M | $4.16M |
| Retained earnings | — | -$193M | -$419M | -$424M | -$482M | -$523M | -$506M | -$480M |
| Shares (wtd avg diluted) | — | — | 32.1M | 61.3M | 41.9M | 45.6M | 53.0M | 66.8M |
Every figure is extracted from MediaAlpha, Inc.’s annual reports as filed with the SEC (XBRL company facts) — no third-party estimates. Fiscal years are labeled by period end; filers occasionally re-tag concepts, so a sparse cell means the company didn’t report that concept for that year. Free cash flow = operating cash flow − capital expenditures.
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