| Summary of Calculation of Basic and Diluted Net Loss Per Share |
The following table presents the calculation of basic and diluted net income (loss) per share: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | (in thousands except share data and per share amounts) | 2026 | | 2025 | | 2026 | | 2025 | | Basic | | | | | | | | | Net income (loss) | $ | 41,783 | | | $ | (22,533) | | | $ | 55,829 | | | $ | (24,867) | | | Less: net income (loss) attributable to non-controlling interest | 2,345 | | | (3,791) | | | 4,924 | | | (4,177) | | | Net income (loss) attributable to MediaAlpha, Inc. | $ | 39,438 | | | $ | (18,742) | | | $ | 50,905 | | | $ | (20,690) | | Denominator: | | | | | | | | Weighted-average shares of Class A common stock outstanding - basic | 53,747,946 | | | 56,141,117 | | | 54,791,225 | | | 55,888,125 | | Weighted-average shares of Class A common stock outstanding - diluted | 62,072,166 | | | 56,141,117 | | | 63,115,445 | | | 55,888,125 | | Net income (loss) attributable to MediaAlpha, Inc. per share of Class A common stock - basic | $ | 0.73 | | | $ | (0.33) | | | $ | 0.93 | | | $ | (0.37) | | Net income (loss) attributable to MediaAlpha, Inc. per share of Class A common stock - diluted | $ | 0.65 | | | $ | (0.33) | | | $ | 0.86 | | | $ | (0.37) | |
| | | | | | | | | | | | | (in thousands except share data and per share amount) | Three Months Ended
June 30, 2026 | | Six Months Ended
June 30, 2026 | | Diluted | | | | Net income | $ | 41,783 | | | $ | 55,829 | | | Add: incremental tax benefits related to exchange of Class B-1 units | (1,141) | | | (1,835) | | Net income available for diluted common shares | $ | 40,642 | | | $ | 53,994 | | | Weighted-average shares outstanding: | | | | | Class A common stock | 53,747,946 | | | 54,791,225 | | | Class B-1 units | 8,324,220 | | | 8,324,220 | | | | | | | | | | | Weighted-average shares of Class A common stock and potential Class A common stock | 62,072,166 | | | 63,115,445 | | | Net income attributable to MediaAlpha, Inc. per share of Class A common stock - diluted | $ | 0.65 | | | $ | 0.86 | |
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| Summary of Potential Dilutive Shares |
The following table summarizes the shares and units with a potentially dilutive impact for the three and six months ended June 30, 2026 and 2025: | | | | | | | | | | | | | As of | | June 30, 2026 | | June 30, 2025 | | QLH Class B-1 Units | — | | | 11,609,982 | | | | | | | Restricted stock units | 6,251,678 | | | 5,521,475 | | | | | | | Potentially dilutive shares | 6,251,678 | | | 17,131,457 | |
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