MediaAlpha, Inc.

Good day and thank you for standing by. Welcome to the Media Alpha second quarter 2021 earnings conference call. At this time, all participants are in listen-only mode. After the speaker's presentation, there will be a question and answer session. To ask a question during the session, you will need to press star 1 on your telephone. And please be advised that the conference is being recorded. If required any further assistance, please press star 0. I'd like to hand the conference over to your speaker today, Ms. Denise Garcia, Investor Relations. Please go ahead.

Thank you, Sarah. Our discussion today will include forward-looking statements about our outlook for future financial results, including our financial guidance for the third quarter and the full year 2021, which are based on assumptions, forecasts, expectations, and information currently available to management. These forward-looking statements are subject to risks and uncertainties that could cause future results or events to differ materially from today's guidance. Please refer to the earnings release we filed with the SEC on Form 8K and the shareholder letter we posted to the investor relations section of our website today for a fuller explanation of those risks and uncertainties and the limits applicable to forward-looking statements. MediaAlpha will routinely post information that may be important to investors on our IR website, investors.medialpha.com. And we use this website address as a means of disclosing material information to the public in a broad, non-exclusionary manner for purposes of the SEC's regulation fair disclosure. In addition, we will be referring to certain actual and projected financial metrics of MediaAlpha, which are non-GAAP financial measures. These metrics include adjusted EBITDA, contribution, and contribution margin, and we present them in order to supplement your understanding and assessment of our financial performance. Non-GAAP measures should not be considered a substitute for or superior to financial measures calculated in accordance with GAAP. The most directly comparable gap measures, as well as reconciliations of the non-gap measures to those gap measures, are available in our second quarter earnings release. As a reminder, we publish a shareholder letter on our IR website that we'll refer to during this Q&A session. Now I'll turn the call over to Steve for a few introductory remarks before opening the call to your questions. Go ahead, Steve.

Hey, thanks, Denise. Hi, everyone. We're pleased to report yet another strong quarter. Our top line transaction value in the second quarter of 2021 was $256.5 million, an increase of 46% year over year. We continue to focus on executing against a large market opportunity and increasing our share of wallet with some of the largest advertisers in the world. Our performance was driven by strength across all of our insurance verticals as carriers continue to move more of their customer acquisition investments online. As the largest digital customer acquisition platform in the insurance industry, we have an unmatched level of scale. That scale, combined with our data science capabilities, enables us to innovate and drive significant business value for our partners, which in turn drives our market share growth as measured by transaction value. As we continue to deepen our relationships with our carrier partners through an increasing number of technology integrations, we unlock opportunities for long-term growth. including as outlined in our shareholder letter a one billion dollar plus incremental market opportunity in our efforts to work with major insurance carriers as supply partners we have a tremendous runway for growth as we barely scratch the surface of our potential and areas of innovation and i look forward to sharing more on our progress with that we'll open it up to your questions