MediaAlpha, Inc. (NYSE:MAX) Q3 2024 Earnings Conference Call October 30, 2024 5:00 PM ET

Company Participants

Alex Liloia - Investor Relations, Hayflower Partners
Steve Yi - Co-Founder and Chief Executive Officer
Patrick Thompson - Chief Financial Officer

Conference Call Participants

Michael Graham - Canaccord Genuity
Danny Pfeiffer - J.P. Morgan
Ben Hendrix - RBC Capital Markets

Operator

Thank you for standing by. My name is Kath and I will be your operator today. At this time, I would like to welcome everyone to the MediaAlpha, Inc. Third Quarter 2024 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 conference over to Alex Liloia. You may begin.

Alex Liloia

Thanks, Kath. Good afternoon and thank you for joining us. With me are Co-Founder and CEO, Steve Yi and CFO, Patrick Thompson.

On today's call, we will make forward-looking statements relating to our business and outlook for future financial results, including our financial guidance for the fourth quarter of 2024.

These forward-looking statements are subject to risks and uncertainties that could cause actual results to differ materially. Please refer to our SEC filings, including our annual report on Form 10-K and quarterly reports on Form 10-Q, for a fuller explanation of those risks and uncertainties, and the limits applicable to forward-looking statements.

All the forward-looking statements we make on his call reflect our assumptions and beliefs as today and we disclaim any obligation to update such statements except as required by law.

Today's discussion will include non-GAAP financial measures, which are not a substitute for GAAP results. Reconciliations of these non-GAAP financial measures to the corresponding GAAP measures can be found in our press release and shareholder letter issued today, which are available on the Investor Relations section of our website. I'll now turn the call over to Steve.

Steve Yi

Thanks, Alex. Hi, everyone. Thank you for joining us. Our performance in the third quarter set new high watermarks across all of our key metrics. Our transaction value and adjusted EBITDA both reached record levels and exceeded the high end of our guidance.

Before turning the call over to our CFO, Patrick Thompson, I'd like to remind you of a few highlights of our business model and review some key drivers of our third quarter results.

We operate the largest insurance customer acquisition media marketplace with strong long-term partnerships that easily reputable by competitors. Our media marketplace enables leading insurance carriers to reach millions of high intent insurance shoppers through our partnerships with hundreds of insurance websites and apps. The reach and transparency of our marketplace is unmatched, allowing carriers to scale their direct-to-consumer marketing investments rapidly and efficiently. This marketplace model is a key differentiator and competitive advantage that has established us as a growth partner of choice among carriers and brokers and underpins our ongoing success.