MediaAlpha, Inc. (MAX) Q4 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:02.094 Ladies and gentlemen, thank you for standing by. 00:00:02.094 -- 00:00:07.421 Hello, and welcome to the MediaAlpha Inc. Q4 2025 00:00:07.421 -- 00:00:12.688 Earnings Conference Call. All lines have been placed on mute to prevent any background 00:00:12.688 -- 00:00:14.510 noise. 00:00:14.510 -- 00:00:19.737 At this time, I would like to turn the call over to our investor relations, Alex 00:00:19.737 -- 00:00:22.799 Ulloa. Please go ahead. 00:00:22.981 -- 00:00:24.624 Thanks, Dustin. 00:00:24.624 -- 00:00:26.827 Good afternoon, and thank you for joining us. 00:00:26.827 -- 00:00:29.613 With me, our co-founder and CEO, Steve Yee. 00:00:29.613 -- 00:00:31.816 and CFO Pat Thompson. 00:00:31.816 -- 00:00:35.621 On today's call, we'll make forward-looking statements relating to our business and outlook 00:00:35.621 -- 00:00:39.266 for future financial results, including our financial guidance for the first quarter 00:00:39.266 -- 00:00:41.208 of 2026. 00:00:41.208 -- 00:00:45.053 These forward-looking statements are subject to risks and uncertainties that could cause 00:00:45.053 -- 00:00:47.717 actual results to differ materially. 00:00:47.717 -- 00:00:53.004 Please refer to our SEC filings, including our annual report on Form 10-K and quarterly 00:00:53.004 -- 00:00:58.115 reports on Form 10-Q for a fuller explanation of those risks and uncertainties 00:00:58.115 -- 00:01:01.659 and the limits applicable to forward-looking statements. 00:01:01.659 -- 00:01:05.843 All the forward-looking statements we make on this call reflect our assumptions and beliefs 00:01:05.843 -- 00:01:10.868 as of today, and we disclaim any obligation to update those statements except as required 00:01:10.868 -- 00:01:12.509 by law. 00:01:12.509 -- 00:01:16.493 ...