# MediaAlpha, Inc. (MAX) MD&A by fiscal year

Verbatim Item 7 Management's Discussion and Analysis sections from MediaAlpha, Inc.'s 10-K filings, one page per fiscal year. Extracted from SEC filings with the same bounded parser for every year. Filer text, not grepcent analysis or investment advice.

- [FY 2025 MD&A](/company/MAX/mda/fy2025/): filed 2026-02-23; accession 0001818383-26-000049 (https://www.sec.gov/Archives/edgar/data/1818383/000181838326000049/max-20251231.htm); latest 10-K
- [FY 2024 MD&A](/company/MAX/mda/fy2024/): filed 2025-02-24; accession 0001818383-25-000022 (https://www.sec.gov/Archives/edgar/data/1818383/000181838325000022/max-20241231.htm)
- [FY 2023 MD&A](/company/MAX/mda/fy2023/): filed 2024-02-22; accession 0001818383-24-000011 (https://www.sec.gov/Archives/edgar/data/1818383/000181838324000011/max-20231231.htm)
- [FY 2022 MD&A](/company/MAX/mda/fy2022/): filed 2023-02-27; accession 0001818383-23-000033 (https://www.sec.gov/Archives/edgar/data/1818383/000181838323000033/max-20221231.htm)
- [FY 2021 MD&A](/company/MAX/mda/fy2021/): filed 2022-02-28; accession 0001818383-22-000023 (https://www.sec.gov/Archives/edgar/data/1818383/000181838322000023/max-20211231.htm)

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