v3.26.1
Non-Controlling Interest
3 Months Ended
Mar. 31, 2026
Noncontrolling Interest [Abstract]  
Non-Controlling Interest Non-Controlling Interest
Pursuant to QLH’s limited liability company agreement, QLH has two classes of equity securities, Class A-1 units, which have all voting rights in QLH, and Class B-1 units, which have no voting or control rights. The Company allocates a share of net income (loss) to the holders of non-controlling interests pro-rata to their ownership interest in QLH at a point in time.
During the three months ended March 31, 2026 and 2025, the holders of the non-controlling interests had completed zero Exchanges. As of March 31, 2026, the holders of the non-controlling interests owned 13.2% of the total equity interests in QLH, with the remaining 86.8% owned by MediaAlpha, Inc. As of December 31, 2025, the holders of the non-controlling interests owned 12.9% of the total equity interests in QLH, with the remaining 87.1% owned by MediaAlpha, Inc.