MediaAlpha, Inc. (NYSE:MAX) Q3 2023 Results Conference Call November 1, 2023 5:00 PM ET

Company Participants

Denise Garcia - IR

Steve Yi - CEO

Pat Thompson - CFO

Conference Call Participants

Michael Graham - Canaccord Genuity

Mike Zremski - Bank of Montreal

Ben Hendrix - RBC

Thomas McJoynt - KBW

Operator

Thank you for standing by. My name is Christina, and I will be your conference operator today. At this time, I would like to welcome to MediaAlpha Q3 2023 Earnings Call. All lines have been placed on mute to prevent any background noise. After the speakers' remarks, there will be a question-and-answer session [Operator Instructions].

I would now like to turn the floor over to Denise Garcia, Investor Relations. Denise, you may begin your conference.

Denise Garcia

Thank you, Christina. After the market closed today, MediaAlpha issued a press release and shareholder letter announcing results for the third quarter ended September 30, 2023. These documents are available in the Investors section of our Web site and we will be referring to them on this call. Our discussion today will include forward-looking statements about our business and our outlook for future financial results, including our financial guidance for the fourth quarter of 2023, which are based on assumptions, forecasts, expectations and information currently available to management. These forward-looking statements are subject to risks and uncertainties that could cause future results or events to differ materially from those reflected in those statements. Please refer to the company's SEC filings, including its Annual Report on Form 10-K and its quarterly reports on Form 10-Q for a fuller explanation of those risks and uncertainties and the limits applicable to forward-looking statements. These forward-looking statements are based on assumptions as of today, November 1, 2023, and the company undertakes no obligation to revise or update them. In addition, on today’s call, we will be referring to certain actual and projected financial metrics of MediaAlpha that are presented on a non-GAAP basis, including adjusted EBITDA, which we present in order to supplement your understanding and assessment of our financial performance. Non-GAAP measures should not be considered as a substitute for or superior to financial measures calculated in accordance with GAAP. Reconciliations of these non-GAAP measures to the most directly comparable GAAP measures are included in our press release and shareholder letter issued today. Finally, I’d like to remind everyone that this call is being recorded and will be made available for replay via a link on the Investors section of the company’s Web site at investors.mediaalpha.com.