MediaAlpha repurchased 2.2M shares for $20M in Q2 2026
Company on pace to complete $100M authorization by year-end; $45M remaining under program
What the filing says
MediaAlpha, Inc. (NYSE: MAX) repurchased approximately 2.2 million Class A common shares for $20 million during the second quarter of 2026. This execution brings cumulative repurchases under the company's $100 million share repurchase program to 5.4 million shares, with $45 million remaining in authorization, according to the earnings release filed as Exhibit 99.1 to the 8-K on July 29, 2026.
The repurchases are part of a broader capital deployment strategy. In the first half of 2026, MediaAlpha repurchased over $41 million of stock. Additionally, in June 2026, the company repurchased a portion of its Tax Receivable Agreement (TRA) liability with a book value of $69 million for $31 million in cash. CFO Pat Thompson noted the repurchases support long-term shareholder value creation.
Looking forward, MediaAlpha expects to complete the vast majority of the $45 million remaining under its share repurchase program by the end of 2026. The company reported second-quarter revenue of $316.9 million (26% year-over-year growth) and net income of $41.8 million. The repurchase activity is being executed concurrent with strong operational performance and stated expectations of $90 million to $100 million in free cash flow generation for the full year 2026.
Repurchased approximately 2.2 million shares for $20 million, bringing cumulative repurchases under the Company's $100 million share repurchase program to 5.4 million shares. — MediaAlpha, Inc. 8-K filing · View on SEC EDGAR →
What this means
MediaAlpha's execution of $20 million in Q2 2026 share repurchases represents accelerating capital return to shareholders as the company operates under profitability. With 5.4 million shares repurchased to date from a $100 million program, the company has deployed approximately 55% of its authorization and targets completion of the program by year-end 2026. At current run rates, repurchases are reducing share count, which benefits per-share earnings metrics. The $45 million remaining authorization represents approximately 0.7% of the company's implied market capitalization, a modest capital allocation relative to the firm's operational cash generation capacity and debt position.
Frequently asked questions
- What is MediaAlpha's total share repurchase authorization?
- MediaAlpha has a $100 million share repurchase program. As of June 30, 2026, the company has repurchased 5.4 million shares cumulatively, leaving $45 million remaining in authorization.
- How many shares did MediaAlpha repurchase in Q2 2026, and at what price?
- The company repurchased approximately 2.2 million Class A common shares for $20 million in the second quarter of 2026, representing an average price of approximately $9.09 per share.
- When does MediaAlpha expect to complete its share repurchase program?
- The company expects to complete the vast majority of the $45 million remaining under its share repurchase program by the end of 2026, as stated in its financial outlook.
- How much stock has MediaAlpha repurchased in the first half of 2026?
- MediaAlpha repurchased over $41 million of stock during the first half of 2026, combining Q1 and Q2 activity. In addition, the company repurchased a TRA liability for $31 million in June.
- What execution mechanism does MediaAlpha use for repurchases?
- The filing does not specify the execution mechanism for the repurchases. Standard practice for open-market corporate buybacks is Rule 10b-18, but MediaAlpha does not disclose this detail in the earnings release.