MediaAlpha, Inc. 8-K

What Happened

• MediaAlpha, Inc. (MAX) filed an 8-K on February 23, 2026 announcing its financial results for the fourth quarter and full year ended December 31, 2025, and providing financial outlook for Q1 2026. A press release and an investor supplement with supplemental financial information and non‑GAAP reconciliations were posted to the company’s Investor Relations site and furnished as exhibits to the 8‑K.
• On February 18, 2026 the company’s Board authorized increasing its existing $50.0 million share repurchase program by an additional $50.0 million, bringing the total repurchase capacity to up to $100.0 million.

Key Details

• Date of filing/announcement: February 23, 2026; repurchase authorization date: February 18, 2026.
• Repurchase program increase: +$50.0 million, for a total of up to $100.0 million; $14.4 million had already been used as of the 8‑K date.
• Repurchases may be made via open market, privately negotiated transactions, preset trading plans, block trades or any combination; company expects to complete the vast majority of the program by the end of 2026 but may suspend or discontinue it.
• The press release and investor supplement include non‑GAAP financial measures and provide reconciliations to GAAP figures.

Why It Matters

• Earnings and outlook: The Q4/FY2025 results and Q1 2026 outlook give investors current information on MediaAlpha’s recent performance and near‑term expectations—key inputs for valuation and trading decisions.
• Capital return: Doubling the remaining buyback authorization signals the company is prioritizing share repurchases as a use of capital, which can support the stock and reduce outstanding shares if executed.
• Timing and risk: The company set a target to complete most repurchases in 2026 but retained discretion to pause or stop repurchases; forward‑looking statements are subject to change and are qualified by the company’s SEC filings.