MediaAlpha Inc. (NYSE: MAX) reported Q3 revenue for the quarter came in at $151.5 million versus the consensus estimate of $150.72 million.

Third Quarter 2020 Financial Results

• Revenue of $151.5 million, an increase of 37% year-over-year;
• Transaction Value of $217.6 million, an increase of 44% year-over-year;
• Gross margin of 13.7%, as compared to 16.0% from the same period in 2019;
• Contribution Margin of 14.3%, as compared to 16.9% from the same period in 2019;
• Net income was $4.8 million, as compared to $7.8 million in the third quarter of 2019; and
• Adjusted EBITDA was $14.0 million, compared to Adjusted EBITDA of $11.7 million in the third quarter of 2019

“We are pleased to announce a strong start to our journey as a public company, with record Transaction Value surpassing $200 million, driven by continued growth in our Property & Casualty insurance vertical,” said Steve Yi, Co-founder and CEO. “We continue to benefit from positive secular trends in the insurance industry, and our transparent, data science-based approach continues to drive outstanding results for our demand and supply partners. Customer acquisition investment from our Top 10 demand partners increased 95% year-over-year, which enabled us to expand our partnerships with existing suppliers as well as to attract new supply partners. With a robust ecosystem, we confidently expect to reach record revenue for the year, as reflected in our fourth quarter and full year revenue guidance.”

For earnings history and earnings-related data on MediaAlpha Inc. (MAX) click here.