| Summary of Calculation of Basic and Diluted Net Loss Per Share |
The following table presents the calculation of basic and diluted net (loss) income per share: | | | | | | | | | | | | | | | | | | | | | | | | | Three Months Ended
June 30, | | Six Months Ended
June 30, | | (in thousands except share data and per share amounts) | 2025 | | 2024 | | 2025 | | 2024 | | Basic | | | | | | | | | Net (loss) income | $ | (22,533) | | | $ | 4,420 | | | $ | (24,867) | | | $ | 2,929 | | | Less: net (loss) income attributable to non-controlling interest | (3,791) | | | 800 | | | (4,177) | | | 422 | | | Net (loss) income attributable to MediaAlpha, Inc. | $ | (18,742) | | | $ | 3,620 | | | $ | (20,690) | | | $ | 2,507 | | Denominator: | | | | | | | | Weighted-average shares of Class A common stock outstanding - basic | 56,141,117 | | | 53,367,896 | | | 55,888,125 | | | 50,971,172 | | Weighted-average shares of Class A common stock outstanding - diluted | 56,141,117 | | | 53,367,896 | | | 55,888,125 | | | 65,868,384 | | Net (loss) income per share of Class A common stock - basic | $ | (0.33) | | | $ | 0.07 | | | $ | (0.37) | | | $ | 0.05 | | Net (loss) income per share of Class A common stock - diluted | $ | (0.33) | | | $ | 0.07 | | | $ | (0.37) | | | $ | 0.04 | |
| | | | | | | (in thousands except share data and per share amount) | Six Months Ended June 30, 2024 | | Diluted | | Net income | $ | 2,929 | | Add: incremental tax benefits related to exchange of Class B-1 units | — | | Net income available for diluted common shares | $ | 2,929 | | | Weighted-average shares outstanding: | | | Class A common stock | 50,971,172 | | | Class B-1 units | 14,897,212 | | | | | | | Weighted-average shares of Class A common stock and potential Class A common stock | 65,868,384 | | Net income per share of Class A common stock - diluted | $ | 0.04 | |
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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 months ended June 30, 2025 and 2024: | | | | | | | | | | | | | As of | | June 30, 2025 | | June 30, 2024 | | QLH Class B-1 Units | 11,609,982 | | | 11,609,982 | | | Restricted Class A Shares | — | | | 6,455 | | | Restricted stock units | 5,521,475 | | | 4,065,863 | | | | | | | Potentially dilutive shares | 17,131,457 | | | 15,682,300 | |
The following table summarizes the shares and units with a potentially dilutive impact for the six months ended June 30, 2025 and 2024: | | | | | | | | | | | | | As of | | June 30, 2025 | | June 30, 2024 | | QLH Class B-1 Units | 11,609,982 | | | 307 | | | Restricted Class A Shares | — | | | 6,455 | | | Restricted stock units | 5,521,475 | | | 4,065,863 | | | | | | | Potentially dilutive shares | 17,131,457 | | | 4,072,625 | |
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