MediaAlpha, Inc. (MAX) - Dilution Analysis

Visualizing historical and potential share dilution over time

Dilution Analysis

Medium Risk
Moderate dilution risk
Last updated: April 29, 2026

Risk Assessment Details

Potential Dilution: 31.58% of current shares
Recent Dilution: 9.53% (2 years)
Historical Dilution Factor: minimal recent dilution
Outstanding Shares
56M
Potential Supply
18M
Additional shares possible
Splits
None
Past 2 years

Summary

MAX currently has 55.8M outstanding shares. with moderate dilution risk from 17.6M authorized shares representing 31.6% potential dilution. The company has minimally diluted shareholders by 9.53% over the past 2 years.

Share Structure Timeline

Outstanding Shares
Total Supply

Historical Data Points

Date Event Outstanding Supply
Apr 29, 2026

10-Q filing | 55.8M shares outstanding

56M 18M
Oct 29, 2025

10-Q filing | 56.6M shares outstanding

57M 18M
Sep 05, 2025

8-K filing: MediaAlpha, Inc. repurchased 3,234,894 shares of its Class A common stock from Insignia in a private transaction at a price of $10.17 per share, for an aggregate purchase price of approximately $32.9 million. ($32.9M proceeds)

56M 18M
Aug 06, 2025

10-Q filing | 56.1M shares outstanding

56M 18M
Apr 30, 2025

10-Q filing | 55.6M shares outstanding

56M 18M
Feb 24, 2025

10-K filing | 53.0M shares outstanding

53M 18M
Nov 04, 2024

10-Q filing | 54.9M shares outstanding

55M 18M
Aug 01, 2024

10-Q filing | 53.4M shares outstanding

53M 18M
May 02, 2024

10-Q filing | 48.6M shares outstanding

49M 18M
Feb 22, 2024

10-K filing | 45.6M shares outstanding

46M 18M
Dec 22, 2023

POS AM filing: This is a POS AM filing regarding the offering of Class A common stock by selling stockholders.

46M 18M
Nov 02, 2023

10-Q filing | 46.2M shares outstanding

46M 18M
Aug 03, 2023

10-Q filing | 45.2M shares outstanding

45M 18M
May 05, 2023

10-Q filing | 43.9M shares outstanding

44M 18M
Mar 17, 2023

POS AM filing: This POS AM filing relates to the potential sale of Class A common stock by selling stockholders. The filing includes information on legal matters, where to find more information about the company, and documents incorporated by reference.

42M 18M
Feb 27, 2023

10-K filing | 41.9M shares outstanding

42M 18M
Nov 04, 2022

10-Q filing | 42.2M shares outstanding

42M 18M
Aug 05, 2022

10-Q filing | 41.7M shares outstanding

42M 18M
May 06, 2022

10-Q filing | 40.8M shares outstanding

41M 18M
Feb 28, 2022

10-K filing | 37.3M shares outstanding

37M 18M
Nov 12, 2021

S-3 filing: The filing relates to the offering of Class A common stock by selling stockholders. It includes information about underwriters, legal matters, and documents incorporated by reference.

38M 18M
Nov 12, 2021

10-Q filing | 38.4M shares outstanding

38M 18M
Aug 13, 2021

10-Q filing | 37.7M shares outstanding

38M 18M
May 14, 2021

10-Q filing | 38.6M shares outstanding

39M 18M
Mar 16, 2021

S-1 filing: This S-1 filing describes an offering of Class A common stock by selling stockholders, with 7,000,000 shares offered (or 8,050,000 shares if the underwriters exercise their option in full), and provides details on the company's capital structure, voting rights, exchange rights, tax receivables agreement, IPO lock-up release, use of proceeds, dividend policy, controlled company status, risk factors, and listing on the NYSE under the symbol 'MAX'.

38M 18M
Mar 15, 2021

10-K filing | 33.8M shares outstanding

34M 11M
Dec 11, 2020

10-Q filing | 33.2M shares outstanding

33M 11M
Oct 23, 2020

S-1/A filing: This is an S-1/A filing for MediaAlpha, Inc. registering Class A common stock.

N/A 11M
Oct 21, 2020

S-1/A filing: This is an S-1/A filing for an initial public offering of Class A common stock by MediaAlpha, Inc., with a secondary offering by a selling stockholder.

N/A 9.3M
Oct 20, 2020

S-1/A filing: This is an S-1/A filing for the initial public offering of MediaAlpha, Inc., consisting of a primary offering of 6,258,502 shares and a secondary offering of 2,991,498 shares of Class A common stock, with an anticipated price range of $18 to $20 per share.

N/A 9.3M
Oct 05, 2020

S-1 filing: This S-1 filing is for an initial public offering of Class A common stock by MediaAlpha, Inc., and a secondary offering of Class A common stock by a selling stockholder.

N/A 0
Weekly Research

Get Weekly Super Stonk Alerts

Never miss a squeeze opportunity. Get our weekly analysis of high short interest stocks, AI-discovered gems, and dilution warnings delivered to your inbox.

No spam Unsubscribe anytime