MediaAlpha (MAX) 10-Q3 Aug 232023 Q2 Quarterly reportFinancial data

Company Profile

Cover

Cover - shares	6 Months Ended
Cover - shares	Jun. 30, 2023	Jul. 31, 2023
Document Information [Line Items]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2023
Document Transition Report	false
Entity File Number	001-39671
Entity Registrant Name	MediaAlpha, Inc.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	85-1854133
Entity Address, Address Line One	700 South Flower Street
Entity Address, Address Line Two	Suite 640
Entity Address, City or Town	Los Angeles
Entity Address, State or Province	CA
Entity Address, Postal Zip Code	90017
City Area Code	213
Local Phone Number	316-6256
Title of 12(b) Security	Class A Common Stock, $0.01 par value per share
Trading Symbol	MAX
Security Exchange Name	NYSE
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q2
Entity Central Index Key	0001818383
Current Fiscal Year End Date	--12-31
Class A Common
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		46,228,304
Class B Common
Document Information [Line Items]
Entity Common Stock, Shares Outstanding		18,119,493

Consolidated Balance Sheets

Consolidated Balance Sheets - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Current assets
Cash and cash equivalents	$ 20,029	$ 14,542
Accounts receivable, net of allowance for credit losses of $325 and $575, respectively	32,589	59,998
Prepaid expenses and other current assets	3,484	5,880
Total current assets	56,102	80,420
Intangible assets, net	29,474	32,932
Goodwill	47,739	47,739
Other assets	6,885	8,990
Total assets	140,200	170,081
Current liabilities
Accounts payable	37,815	53,992
Accrued expenses	13,241	14,130
Current portion of long-term debt	8,787	8,770
Total current liabilities	59,843	76,892
Long-term debt, net of current portion	169,899	174,300
Other long-term liabilities	4,852	4,973
Total liabilities	234,594	256,165
Commitments and contingencies
Stockholders' (deficit):
Preferred stock, $0.01 par value - 50 million shares authorized; 0 shares issued and outstanding as of June 30, 2023 and December 31, 2022	0	0
Additional paid-in capital	489,831	465,523
Accumulated deficit	(506,694)	(482,142)
Total stockholders' (deficit) attributable to MediaAlpha, Inc.	(16,223)	(15,993)
Non-controlling interests	(78,171)	(70,091)
Total stockholders' (deficit)	(94,394)	(86,084)
Total liabilities and stockholders' deficit	140,200	170,081
Class A Common
Stockholders' (deficit):
Common stock	459	437
Class B Common
Stockholders' (deficit):
Common stock	$ 181	$ 189

Consolidated Balance Sheets (Pa

Consolidated Balance Sheets (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Accounts receivable, allowance for credit losses	$ 325	$ 575
Preferred stock, par value (in dollars per share)	$ 0.01	$ 0.01
Preferred stock, authorized (in shares)	50,000,000	50,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Class A Common
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	1,000,000,000	1,000,000,000
Common stock, issued (in shares)	45,900,000	43,700,000
Common stock, outstanding (in shares)	45,900,000	43,700,000
Class B Common
Common stock, par value (in dollars per share)	$ 0.01	$ 0.01
Common stock, authorized (in shares)	100,000,000	100,000,000
Common stock, issued (in shares)	18,100,000	18,900,000
Common stock, outstanding (in shares)	18,100,000	18,900,000

Consolidated Statements of Oper

Consolidated Statements of Operations - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Statement [Abstract]
Revenue	$ 84,772	$ 103,449	$ 196,402	$ 246,048
Costs and operating expenses
Cost of revenue	71,006	87,925	164,268	208,806
Sales and marketing	6,707	7,958	13,701	15,181
Product development	5,061	5,661	10,229	10,877
General and administrative	18,070	12,316	33,825	29,464
Total costs and operating expenses	100,844	113,860	222,023	264,328
(Loss) from operations	(16,072)	(10,411)	(25,621)	(18,280)
Other (income) expense, net	(116)	44	1,265	(479)
Interest expense	3,874	1,956	7,450	3,315
Total other expense, net	3,758	2,000	8,715	2,836
(Loss) before income taxes	(19,830)	(12,411)	(34,336)	(21,116)
Income tax expense	150	611	228	1,754
Net (loss)	(19,980)	(13,022)	(34,564)	(22,870)
Net (loss) attributable to non-controlling interest	(5,694)	(3,883)	(10,012)	(6,655)
Net (loss) attributable to MediaAlpha, Inc.	$ (14,286)	$ (9,139)	$ (24,552)	$ (16,215)
Net (loss) per share of Class A common stock
Basic (in dollars per share)	$ (0.32)	$ (0.22)	$ (0.55)	$ (0.39)
Diluted (in dollars per share)	$ (0.32)	$ (0.22)	$ (0.55)	$ (0.39)
Weighted average shares of Class A common stock outstanding
Basic (in shares)	45,160,646	41,705,344	44,518,890	41,279,146
Diluted (in shares)	45,160,646	41,705,344	44,518,890	41,279,146

Consolidated Statements of Stoc

Consolidated Statements of Stockholders' Equity (Deficit) - USD ($) $ in Thousands	Total	Common Stock Class A common stock	Common Stock Class B common stock	Additional Paid-In- Capital	Accumulated deficit	Non- Controlling Interest
Beginning balance (in shares) at Dec. 31, 2021		40,969,952	19,621,915
Beginning balance at Dec. 31, 2021	$ (61,566)	$ 410	$ 196	$ 419,533	$ (424,476)	$ (57,229)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Establishment of liabilities under tax receivables agreement and related changes to deferred tax assets associated with increases in tax basis	19			19
Exchange of non-controlling interest for Class A common stock (in shares)		60,197	(60,197)
Exchange of non-controlling interest for Class A common stock	0	$ 0	$ 0	(180)		180
Vesting of restricted stock units (in shares)		593,810
Vesting of restricted stock units	0	$ 6		(6)
Equity-based compensation	13,773			13,688		85
Forfeiture of equity awards (in shares)		(23,294)
Forfeiture of equity awards	0	$ 0
Shares withheld on tax withholding on vesting of restricted stock units	(820)			(820)
Distributions to non-controlling interests	(130)					(130)
Settlement of 2021 annual bonus as restricted stock units	880			880
Tax impact of changes in investment in partnership	43			43
Net (loss)	(9,848)				(7,076)	(2,772)
Ending balance (in shares) at Mar. 31, 2022		41,600,665	19,561,718
Ending balance at Mar. 31, 2022	(57,649)	$ 416	$ 196	433,157	(431,552)	(59,866)
Beginning balance (in shares) at Dec. 31, 2021		40,969,952	19,621,915
Beginning balance at Dec. 31, 2021	$ (61,566)	$ 410	$ 196	419,533	(424,476)	(57,229)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Repurchases of Class A common Stock (in shares)	(321,150)
Repurchases of Class A common stock	$ (3,500)
Net (loss)	(22,870)
Ending balance (in shares) at Jun. 30, 2022		42,237,776	19,170,493
Ending balance at Jun. 30, 2022	(59,473)	$ 422	$ 192	443,514	(440,691)	(62,910)
Beginning balance (in shares) at Mar. 31, 2022		41,600,665	19,561,718
Beginning balance at Mar. 31, 2022	(57,649)	$ 416	$ 196	433,157	(431,552)	(59,866)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Establishment of liabilities under tax receivables agreement and related changes to deferred tax assets associated with increases in tax basis	4			4
Exchange of non-controlling interest for Class A common stock (in shares)		297,747	(297,747)
Exchange of non-controlling interest for Class A common stock	0	$ 3	$ (3)	(946)		946
Vesting of restricted stock units (in shares)		674,674
Vesting of restricted stock units	0	$ 6		(6)
Equity-based compensation	15,780			15,733		47
Forfeiture of equity awards (in shares)		(14,160)	(93,478)
Forfeiture of equity awards	0		$ (1)	(305)		306
Shares withheld on tax withholding on vesting of restricted stock units	(966)			(966)
Distributions to non-controlling interests	$ (460)					(460)
Repurchases of Class A common Stock (in shares)	(321,150)	(321,150)
Repurchases of Class A common stock	$ (3,457)	$ (3)		(3,454)
Tax impact of changes in investment in partnership	297			297
Net (loss)	(13,022)				(9,139)	(3,883)
Ending balance (in shares) at Jun. 30, 2022		42,237,776	19,170,493
Ending balance at Jun. 30, 2022	(59,473)	$ 422	$ 192	443,514	(440,691)	(62,910)
Beginning balance (in shares) at Dec. 31, 2022		43,650,634	18,895,493
Beginning balance at Dec. 31, 2022	(86,084)	$ 437	$ 189	465,523	(482,142)	(70,091)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exchange of non-controlling interest for Class A common stock (in shares)		10,000	(10,000)
Exchange of non-controlling interest for Class A common stock	0			(39)		39
Vesting of restricted stock units (in shares)		608,022
Vesting of restricted stock units	0	$ 6		(6)
Equity-based compensation	14,304			14,259		45
Shares withheld on tax withholding on vesting of restricted stock units	(1,238)			(1,238)
Distributions to non-controlling interests	(1,104)					(1,104)
Net (loss)	(14,584)				(10,266)	(4,318)
Ending balance (in shares) at Mar. 31, 2023		44,268,656	18,885,493
Ending balance at Mar. 31, 2023	(88,706)	$ 443	$ 189	478,499	(492,408)	(75,429)
Beginning balance (in shares) at Dec. 31, 2022		43,650,634	18,895,493
Beginning balance at Dec. 31, 2022	(86,084)	$ 437	$ 189	465,523	(482,142)	(70,091)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net (loss)	(34,564)
Ending balance (in shares) at Jun. 30, 2023		45,856,803	18,119,493
Ending balance at Jun. 30, 2023	(94,394)	$ 459	$ 181	489,831	(506,694)	(78,171)
Beginning balance (in shares) at Mar. 31, 2023		44,268,656	18,885,493
Beginning balance at Mar. 31, 2023	(88,706)	$ 443	$ 189	478,499	(492,408)	(75,429)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Exchange of non-controlling interest for Class A common stock (in shares)		766,000	(766,000)
Exchange of non-controlling interest for Class A common stock	0	$ 8	$ (8)	(3,130)		3,130
Vesting of restricted stock units (in shares)		822,147
Vesting of restricted stock units	0	$ 8		(8)
Equity-based compensation	15,185			15,171		14
Shares withheld on tax withholding on vesting of restricted stock units	(701)			(701)
Distributions to non-controlling interests	(192)					(192)
Net (loss)	(19,980)				(14,286)	(5,694)
Ending balance (in shares) at Jun. 30, 2023		45,856,803	18,119,493
Ending balance at Jun. 30, 2023	$ (94,394)	$ 459	$ 181	$ 489,831	$ (506,694)	$ (78,171)

Consolidated Statements of Cash

Consolidated Statements of Cash Flows - USD ($)	3 Months Ended				6 Months Ended		12 Months Ended
Consolidated Statements of Cash Flows - USD ($)	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Cash flows from operating activities
Net (loss)	$ (19,980,000)	$ (14,584,000)	$ (13,022,000)	$ (9,848,000)	$ (34,564,000)	$ (22,870,000)
Adjustments to reconcile net (loss) to net cash provided by operating activities:
Non-cash equity-based compensation expense					29,489,000	29,616,000
Non-cash lease expense					337,000	357,000
Depreciation expense on property and equipment					188,000	197,000
Amortization of intangible assets	1,700,000		1,700,000		3,458,000	2,360,000	$ 5,755,000
Amortization of deferred debt issuance costs	200,000		200,000		398,000	418,000
Change in fair value of contingent consideration					0	(2,845,000)
Impairment of cost method investment	0				1,406,000	0
Credit losses					(250,000)	(127,000)
Deferred taxes					0	1,630,000
Tax receivable agreement liability adjustments					6,000	(589,000)
Changes in operating assets and liabilities:
Accounts receivable					27,659,000	38,691,000
Prepaid expenses and other current assets					2,364,000	4,057,000
Other assets					250,000	198,000
Accounts payable					(16,177,000)	(28,354,000)
Accrued expenses					1,777,000	(2,629,000)
Net cash provided by operating activities					16,341,000	20,110,000
Cash flows from investing activities
Purchases of property and equipment					(47,000)	(79,000)
Cash consideration paid in connection with CHT acquisition					0	(49,677,000)
Net cash (used in) investing activities					(47,000)	(49,756,000)
Cash flows from financing activities
Revolving credit facility					0	25,000,000
Repayments on long-term debt					(4,750,000)	(4,750,000)
Repurchases of Class A common stock					0	(3,382,000)
Distributions					(1,296,000)	(590,000)
Payments pursuant to tax receivable agreement					(2,822,000)	(216,000)
Shares withheld for taxes on vesting of restricted stock units					(1,939,000)	(1,786,000)
Net cash (used in) provided by financing activities					(10,807,000)	14,276,000
Net increase (decrease) in cash and cash equivalents					5,487,000	(15,370,000)
Cash and cash equivalents, beginning of period		$ 14,542,000		$ 50,564,000	14,542,000	50,564,000	50,564,000
Cash and cash equivalents, end of period	$ 20,029,000		$ 35,194,000		20,029,000	35,194,000	$ 14,542,000
Supplemental disclosures of cash flow information
Interest					6,423,000	2,865,000
Income taxes paid, net of refunds					(233,000)	(2,152,000)
Non-cash Investing and Financing Activities:
Adjustments to liabilities under the tax receivable agreement					0	(1,619,000)
Establishment of deferred tax assets in connection with the Reorganization Transactions					0	(1,642,000)
Fair value of contingent consideration in connection with CHT acquisition					$ 0	$ 7,007,000

Summary of significant accounti

Summary of significant accounting policies	6 Months Ended
Summary of significant accounting policies	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of significant accounting policies	Summary of significant accounting policies The Company's significant accounting policies are included in the 2022 Annual Report on Form 10-K and did not materially change during the six months ended June 30, 2023. Basis of presentation The accompanying unaudited consolidated financial statements and related disclosures have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") applicable to interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. In the opinion of management, all adjustments, consisting of only those of a normal recurring nature, considered necessary for a fair statement of the financial position and interim results of the Company as of and for the periods presented have been included. The December 31, 2022 balance sheet data was derived from audited consolidated financial statements; however, the accompanying interim notes to the consolidated financial statements do not include all of the annual disclosures required by GAAP. Results for interim periods are not necessarily indicative of those that may be expected for a full year. The financial information included herein should be read in conjunction with the Company's consolidated financial statements and related notes in its 2022 Annual Report on Form 10-K. Accounts receivable Accounts receivable are net of allowances for credit losses of $0.3 million and $0.6 million as of June 30, 2023 and December 31, 2022, respectively. Concentrations of credit risk and of significant customers and suppliers Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company maintains cash balances that can, at times, exceed amounts insured by the Federal Deposit Insurance Corporation. The Company has not experienced any losses in these accounts and believes it is not exposed to unusual risk beyond the normal credit risk in this area based on the financial strength of the institutions with which the Company maintains its deposits. The Company's accounts receivable, which are unsecured, may expose it to credit risk based on their collectability. The Company controls credit risk by investigating the creditworthiness of all customers prior to establishing relationships with them, performing periodic reviews of the credit activities of those customers during the course of the business relationship, regularly analyzing the collectability of accounts receivable, and recording allowances for credit losses. The Company's supplier concentration can also expose it to business risks. Customer and supplier concentrations consisted of the below: Three Months Ended Three Months Ended Number of customers or suppliers exceeding 10% Aggregate Value % of Total Number of customers or suppliers exceeding 10% Aggregate Value % of Total Revenue — $ — — % 1 $ 13 13 % Purchases 1 $ 8 11 % 1 $ 10 10 % Six Months Ended Six Months Ended Number of customers or suppliers exceeding 10% Aggregate Value % of Total Number of customers or suppliers exceeding 10% Aggregate Value % of Total Revenue 1 $ 22 11 % 1 $ 32 13 % Purchases 1 $ 17 11 % 1 $ 24 10 % As of June 30, 2023 As of December 31, 2022 Number of customers or suppliers exceeding 10% Aggregate Value % of Total Number of customers or suppliers exceeding 10% Aggregate Value % of Total Accounts receivable 1 $ 4 12 % — $ — — % Accounts payable 1 $ 5 14 % 2 $ 22 40 % Related Party Transactions The Company is party to the tax receivables agreement ("TRA") under which it is contractually committed to pay certain holders of Class B-1 units 85% of the amount of any tax benefits that the Company actually realizes, or in some cases are deemed to realize, as a result of certain transactions. During the three and six months ended June 30, 2023, payments of $0 and $2.8 million, respectively, were made pursuant to the TRA. Liquidity As of June 30, 2023, the aggregate principal amount outstanding under the 2021 Credit Facilities was $180.8 million, with $45.0 million remaining available for borrowing under the 2021 Revolving Credit Facility. As of June 30, 2023, the Company was in compliance with all of its financial covenants under such credit facilities. The Company’s ability to continue to comply with its covenants will depend on, among other things, financial, business, market, competitive and other conditions, many of which are beyond the Company’s control. The Company’s results are subject to fluctuations as a result of business cycles experienced by companies in the insurance industry. The Company believes that the property & casualty (P&C) insurance industry is currently in a cyclical downturn due to higher-than-expected carrier underwriting losses, which has led these carriers to reduce their customer acquisition spending in the Company’s Marketplaces. In late March 2023, one of the Company's major insurance carrier partners significantly reduced its customer acquisition spend with the Company due to experiencing higher than expected loss ratios as a result of several factors, including ongoing loss cost inflation and unfavorable prior year reserve developments, reducing the Company's expected near-term revenue and Adjusted EBITDA and its forecasted cushion with respect to compliance with the financial covenants under the 2021 Credit Facilities. The Company has taken steps to reduce its overhead expenses, including implementing workforce reductions in May 2023. The Company believes it has sufficient cash on hand and availability to access additional cash under its 2021 Revolving Credit Facility to meet its business operating requirements, its capital expenditures and to continue to comply with its debt covenants for at least the next twelve months as of the filing date of this Quarterly Report on Form 10-Q. The extent to which these market conditions impact the Company’s business, results of operations, cash flows and financial condition will depend on future developments impacting its carrier partners, including inflation rates, the extent of any major catastrophic losses, and the timing of regulatory approval of premium rate increases, which remain highly uncertain and cannot be predicted with accuracy. The Company considered the impact of this uncertainty on the assumptions and estimates used when preparing these quarterly financial statements. These assumptions and estimates may continue to change as new events occur, and such changes could have an adverse impact on the Company's results of operations, financial position and liquidity. In the event that the Company’s financial results are below its expectations due to cyclical conditions in its primary vertical markets or other factors, the Company may not be able to remain in compliance with its financial covenants under the 2021 Credit Facilities, in which event the Company may need to take additional actions to reduce operating costs, including adjusting discretionary employee bonuses and other discretionary spending, renegotiate amendments to or obtain waivers of the terms of such credit facilities, refinance its debt, or raise additional capital. There can be no assurance that the Company would be able to raise additional capital or obtain any such amendments, refinancing or waivers on terms acceptable to the Company or at all. The consolidated financial statements do not include any adjustments that may result from the outcome of these uncertainties. New Accounting Pronouncements Recently adopted accounting pronouncements In October 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from contracts with customers. The ASU requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, as if it had originated the contracts. Under the current business combinations guidance, such assets and liabilities were recognized by the acquirer at fair value on the acquisition date. The guidance in ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitted and will be applied prospectively to business combinations occurring on or after the effective date of the amendment. The Company adopted the ASU on January 1, 2023 and the adoption did not have any impact on the Company's consolidated financial statements. In March 2020 and January 2021, the FASB issued ASU No. 2020-4, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting and ASU 2021-1, Reference Rate Reform (Topic 848): Scope, respectively. ASU 2020-4 and ASU 2021-1 provide optional expedients and exceptions for applying U.S. GAAP, to contracts, and other transactions that reference the London Interbank Offered Rate ("LIBOR") or another reference rate expected to be discontinued because of reference rate reform, if certain criteria are met. The guidance in ASU 2020-4 and ASU 2021-1 was effective upon issuance and, once adopted, may be applied prospectively to contract modifications and hedging relationships through December 31, 2022. In December 2022, the FASB issued ASU No. 2022-6, Deferral of the Sunset Date of Topic 848, which deferred the sunset date of Topic 848 from December 31, 2022 to December 31, 2024 to align with the amended cessation date of LIBOR, which had been delayed to June 30, 2023. On June 8, 2023, the Company amended its existing credit agreement to change the interest rate benchmark under the 2021 Credit Facilities from LIBOR to the Secured Overnight Financing Rate ("SOFR"), as further discussed in Note 6 - Long term debt. Effective June 8, 2023, the Company adopted ASC Topic 848 and qualified for the available optional expedients, which allows the Company to account for the contract modifications as continuations of the existing contract without further reassessment or remeasurement that would otherwise be required under the applicable U.S. GAAP. The adoption did not have a material impact on the Company's consolidated financial statements. Recently issued not yet adopted accounting pronouncements There have been no other accounting pronouncements issued but not yet adopted by the Company which are expected to have a material impact on the Consolidated Financial Statements.

Disaggregation of revenue

Disaggregation of revenue	6 Months Ended
Disaggregation of revenue	Jun. 30, 2023
Disaggregation of Revenue [Abstract]
Disaggregation of revenue	Disaggregation of revenue The following table shows the Company’s revenue disaggregated by transaction model: Three Months Ended Six Months Ended (in thousands) 2023 2022 2023 2022 Revenue Open marketplace transactions $ 82,856 $ 99,633 $ 190,515 $ 237,729 Private marketplace transactions 1,916 3,816 5,887 8,319 Total $ 84,772 $ 103,449 $ 196,402 $ 246,048 The following table shows the Company’s revenue disaggregated by product vertical: Three Months Ended Six Months Ended (in thousands) 2023 2022 2023 2022 Revenue Property & casualty insurance $ 39,492 $ 57,571 $ 94,599 $ 145,025 Health insurance 35,628 33,163 81,231 75,272 Life insurance 5,889 7,005 12,980 14,072 Other 3,763 5,710 7,592 11,679 Total $ 84,772 $ 103,449 $ 196,402 $ 246,048

Business Combinations

Business Combinations	6 Months Ended
Business Combinations	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Business Combinations	Business Combinations On February 24, 2022, QuoteLab, LLC (“QL”), a wholly owned subsidiary of QLH, and CHT Buyer, LLC, a wholly owned subsidiary of QL ("Buyer"), entered into an Asset Purchase Agreement (as amended, the “Agreement”) to acquire substantially all of the assets of Customer Helper Team, LLC ("Seller" or "CHT"). CHT is a provider of customer generation and acquisition services, primarily for Medicare insurance, automobile insurance, health insurance and life insurance companies. The Company acquired CHT to increase its customer generation capabilities on various social media and short form video platforms. The transaction was closed on April 1, 2022. The Company accounted for the transaction as a business combination using the acquisition method of accounting as CHT contained inputs and processes that were capable of being operated as a business. The acquisition date fair value of the purchase consideration for the acquisition was $56.7 million, and consisted of the following (in thousands): Fair Value Cash consideration (net of working capital adjustments) $ 49,677 Contingent consideration 7,007 Total purchase consideration $ 56,684 The Agreement also provides that the Company shall pay contingent consideration which could range from zero to $20.0 million, based upon CHT's achievement of certain revenue and gross margin targets for the two successive twelve-month periods following the closing, as set forth in the Agreement. The contingent consideration has been classified as a liability and the estimated fair value was determined using a Monte Carlo model based on the revenue and gross margin projected to be generated by CHT during the applicable periods. CHT was unable to meet its target for the first twelve-month period, and so the Company did not pay any consideration related to that period. In addition, based on further decline in CHT's projected revenue and gross margin, the Company does not expect CHT to meet the target for the second twelve-month period. The contingent consideration is subject to remeasurement at each reporting date until paid, with any adjustment resulting from the remeasurement reported within general & administrative expenses in the consolidated statements of operations. The fair value measurements of the contingent consideration are based primarily on significant unobservable inputs and thus represent a Level 3 measurement in the valuation hierarchy as defined in ASC 820. Transaction-related costs incurred by the Company were $0.2 million and $0.5 million for the three and six months ended June 30, 2022, respectively, and were expensed as incurred and included in general and administrative expenses in the Company's consolidated statement of operations. In accordance with the acquisition method of accounting, the purchase consideration was allocated to the assets acquired and liabilities assumed based on their fair values on the date of the acquisition as follows (in thousands): Accounts receivable $ 1,275 Prepaid expenses and other current assets 17 Intangible assets 26,120 Goodwill 29,337 Accounts payable (18) Accrued expenses (47) Net assets acquired $ 56,684 The Company considers the measurement period for such purchase price allocation to be one year from the date of acquisition. The fair value of working capital related items, including accounts receivable, prepaid expenses and other current assets, accounts payable, and accrued expenses, approximated their book values as of the closing date of the acquisition. The excess of the purchase consideration over the fair value of the net assets acquired was recorded as goodwill. The resulting goodwill is attributable primarily to CHT's assembled workforce and the expanded market opportunities provided by the CHT business by increasing the Company’s ability to generate Consumer Referrals on various social media and short form video platforms. The goodwill resulting from the acquisition is tax deductible. For tax purposes, contingent consideration does not become part of tax goodwill until paid. As such, the amount of goodwill deductible for tax purposes as of the closing date of the acquisition was $22.7 million. The Company's estimate of the amount of tax deductible goodwill may change as the amounts of the payments of contingent consideration, if any, are finalized. The following pro forma financial information summarizes the combined results of operations for the Company and CHT, as though the companies were combined as of the beginning of the Company’s fiscal 2021. The unaudited pro forma financial information was as follows: Three Months Ended Six Months Ended (in thousands) 2022 2022 Total revenues $ 103,449 $ 252,318 Pretax (loss) $ (12,398) $ (19,606) The pro forma financial information presented above has been calculated after adjusting the results of CHT to reflect certain business combination and one-time accounting effects such as fair value adjustment of amortization expense from acquired intangible assets, interest expense on the amounts drawn under the 2021 Revolving Credit facility, and acquisition costs as though the acquisition occurred as of the beginning of the Company’s fiscal 2021. The historical consolidated financial information has been adjusted in the pro forma combined financial results to give effect to pro forma events that are directly attributable to the business combination, reasonably estimable and factually supportable. The pro forma financial information does not include the impact of remeasurement adjustments to the contingent considerations and restricted stock units granted to employees of CHT on the date of acquisition for post combination services and are included within the periods they were incurred. The pro forma financial information is for informational purposes only and is not indicative of the results of operations that would have been achieved if the acquisition had taken place at the beginning of the Company’s fiscal 2021.

Goodwill and intangible assets

Goodwill and intangible assets	6 Months Ended
Goodwill and intangible assets	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and intangible assets	Goodwill and intangible assets Goodwill and intangible assets consisted of: As of June 30, 2023 December 31, 2022 (in thousands) Useful Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Customer relationships 84 - 120 $ 43,500 $ (20,883) $ 22,617 $ 43,500 $ (17,820) $ 25,680 Non-compete agreements 60 303 (303) — 303 (303) — Trademarks, trade names, and domain names 60 - 120 8,884 (2,027) 6,857 8,884 (1,632) 7,252 Intangible assets $ 52,687 $ (23,213) $ 29,474 $ 52,687 $ (19,755) $ 32,932 Goodwill Indefinite $ 47,739 $ — $ 47,739 $ 47,739 $ — $ 47,739 Amortization expense related to intangible assets amounted to $1.7 million for the three months ended June 30, 2023 and 2022, respectively, and $3.5 million and $2.4 million for the six months ended June 30, 2023 and 2022, respectively. The Company has no accumulated impairment of goodwill. The following table presents the changes in goodwill and intangible assets: As of June 30, 2023 December 31, 2022 (in thousands) Goodwill Intangible Goodwill Intangible Beginning balance at January 1, $ 47,739 $ 32,932 $ 18,402 $ 12,567 Additions to goodwill and intangible assets — — 29,337 26,120 Amortization — (3,458) — (5,755) Ending balance $ 47,739 $ 29,474 $ 47,739 $ 32,932 As of June 30, 2023, future amortization expense relating to identifiable intangible assets with estimable useful lives over the next five years was as follows: (in thousands) Amortization expense 2023–Remaining Period $ 3,458 2024 6,428 2025 5,759 2026 5,143 2027 4,106 Thereafter 4,580 $ 29,474

Accrued expenses

Accrued expenses	6 Months Ended
Accrued expenses	Jun. 30, 2023
Payables and Accruals [Abstract]
Accrued expenses	Accrued expenses Accrued expenses include the following: As of (in thousands) June 30, December 31, Accrued payroll and related expenses $ 2,576 $ 3,621 Accrued operating expenses 4,533 2,036

Long-term debt

Long-term debt	6 Months Ended
Long-term debt	Jun. 30, 2023
Debt Disclosure [Abstract]
Long-term debt	Long-term debt On July 29, 2021, the Company entered into an amendment (the "First Amendment") to the 2020 Credit Agreement dated as of September 23, 2020, with the lenders that are party thereto and JPMorgan Chase Bank, N.A., as administrative agent (as amended by the First Amendment, the “Existing Credit Agreement”). The Existing Credit Agreement provides for a new senior secured term loan facility in an aggregate principal amount of $190.0 million (the "2021 Term Loan Facility"), the proceeds of which were used to refinance all $186.4 million of the existing term loans outstanding and the unpaid interest thereof as of the date of the First Amendment, to pay fees related to these transactions, and to provide cash for general corporate purposes, and a new senior secured revolving credit facility with commitments in an aggregate amount of $50.0 million (the "2021 Revolving Credit Facility" and, together with the 2021 Term Loan Facility, the "2021 Credit Facilities"), which replaced the existing revolving credit facility under the 2020 Credit Agreement. On June 8, 2023, the Company entered into a Second Amendment (the “Second Amendment”) to the Existing Credit Agreement, (as amended by the Second Amendment, the “Amended Credit Agreement”). The Second Amendment amends the Existing Credit Agreement to replace the existing LIBOR based rate applicable to the 2021 Credit Facilities with a Term SOFR or Daily Simple SOFR with a credit spread adjustment of 0.10% per annum and a floor of 0.00%, effective on the amendment date. Borrowings under the Amended Credit Agreement will continue to bear interest at a rate equal to, at the option of the Borrower, the Term SOFR or Daily Simple SOFR plus an applicable margin, with a floor of 0.00%, or the base rate plus an applicable margin. The applicable margins are based on the Company’s consolidated total net leverage ratio as calculated under the terms of the Amended Credit Agreement for the prior fiscal quarter and range from 2.00% to 2.75% with respect to the Term SOFR or Daily Simple SOFR and from 1.00% to 1.75% with respect to the base rate. The Second Amendment did not impact the Company's outstanding debt or related debt covenants. The Second Amendment did not result in any additional cash proceeds or changes in commitment amounts. The Second Amendment has been accounted for as a continuation of the existing agreement in accordance with ASC 848 — Reference Rate Reforms and any third-party costs were expensed as incurred and included in general and administrative expenses in the consolidated statement of operations. Long-term debt consisted of the following: As of (in thousands) June 30, December 31, 2021 Term Loan Facility $ 175,750 $ 180,500 2021 Revolving Credit Facility 5,000 5,000 Debt issuance costs (2,064) (2,430) Total debt $ 178,686 $ 183,070 Less: current portion, net of debt issuance costs of $713 and $730, respectively (8,787) (8,770) Total long-term debt $ 169,899 $ 174,300 Loans under the 2021 Credit Facilities will mature on July 29, 2026. Loans under the 2021 Term Loan Facility amortize quarterly, beginning on the first business day after December 31, 2021 and ending with June 30, 2026, by an amount equal to 1.25% of the aggregate outstanding principal amount of the term loans initially made. Accordingly, the amount of mandatory quarterly principal payable amount under the 2021 Term Loan within the next twelve months has been classified within the current portion of long-term debt and the remaining balance as long-term debt, net of current portion on the consolidated balance sheets. The 2021 Revolving Credit Facility does not amortize and will mature on July 29, 2026 and has been classified as non-current within long-term debt, net of current portion on the consolidated balance sheet. The Company incurred interest expense on the 2021 Term Loan Facility of $3.7 million and $1.7 million for the three months ended June 30, 2023 and 2022, respectively, and $7.1 million and $3.0 million for the six months ended June 30, 2023 and 2022, respectively. The Company incurred interest expense on the 2021 Revolving Credit Facility of $0.2 million for the three months ended June 30, 2023 and 2022, respectively, and $0.3 million for the six months ended June 30, 2023 and 2022, respectively. Interest expense included amortization of debt issuance costs on the 2021 Credit Facility of $0.2 million for the three months ended June 30, 2023 and 2022, respectively, and $0.4 million for the six months ended June 30, 2023 and 2022, respectively. Accrued interest was $3.7 million as of June 30, 2023 and $3.0 million as of December 31, 2022, and is included within accrued expenses on the consolidated balance sheets. The expected future principal payments for all borrowings as of June 30, 2023 were as follows: (in thousands) Contractual maturity 2023–Remaining Period $ 4,750 2024 9,500 2025 9,500 2026 157,000 Debt and issuance costs 180,750 Unamortized debt issuance costs (2,064) Total debt $ 178,686

Commitments and contingencies

Commitments and contingencies	6 Months Ended
Commitments and contingencies	Jun. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
Commitments and contingencies	Commitments and contingencies Litigation and other matters The Company is subject to certain legal proceedings and claims that arise in the normal course of business. In the opinion of management, the Company does not believe that the amount of liability, if any, as a result of these proceedings and claims will have a materially adverse effect on the Company’s consolidated financial position, results of operations, or cash

Equity-based compensation

Equity-based compensation	6 Months Ended
Equity-based compensation	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Equity-based compensation	Equity-based compensation The Company’s equity-based compensation plans are fully described in Part II, Item 8 "Financial Statements and Supplementary Data—Note 10 to the Consolidated Financial Statements—Equity-based compensation plans" in the 2022 Annual Report on Form 10-K. Equity-based compensation cost recognized for equity-based awards outstanding during the three and six months ended June 30, 2023 and 2022 was as follows: Three Months Ended Six Months Ended (in thousands) 2023 2022 2023 2022 QLH restricted Class B-1 units 14 47 59 132 Restricted Class A shares 132 213 334 561 Restricted stock units 15,039 15,520 29,096 28,860 Performance-based restricted stock units (37) 63 — 63 Total equity-based compensation $ 15,148 $ 15,843 $ 29,489 $ 29,616 Equity-based compensation cost was allocated to the following expense categories in the consolidated statements of operations during the three and six months ended June 30, 2023 and 2022: Three Months Ended Six Months Ended (in thousands) 2023 2022 2023 2022 Cost of revenue $ 981 $ 1,240 $ 1,947 $ 1,638 Sales and marketing 2,363 2,769 4,744 5,474 Product development 2,099 2,646 4,271 4,895 General and administrative 9,705 9,188 18,527 17,609 Total equity-based compensation $ 15,148 $ 15,843 $ 29,489 $ 29,616 As of June 30, 2023, total unrecognized compensation cost related to unvested QLH restricted Class B-1 units, restricted Class A shares, restricted stock units, and PRSUs was $44 thousand, $0.5 million, $73.3 million, and $0, respectively, which are expected to be recognized over weighted-average periods of 0.68 years, 0.89 years, 2.42 years, and 0.71 years, respectively.

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit)	6 Months Ended
Stockholders' Equity (Deficit)	Jun. 30, 2023
Equity [Abstract]
Stockholders' Equity (Deficit)	Stockholders' Equity (Deficit) Share Repurchase Program On March 14, 2022, the Company’s Board of Directors approved a Share Repurchase Program (“Repurchase Program”) that authorized the Company to repurchase up to $5.0 million of the Company’s share of Class A common stock in open market transactions at prevailing market prices or by other means in accordance with federal securities laws. The Company completed the Repurchase Program during the year ended December 31, 2022. The Repurchase Program did not obligate the Company to repurchase a fixed number of shares and any repurchases were accounted for as of the trade date with a corresponding liability. The excess between the repurchase price and the par value of the shares of Class A common stock

Fair Value Measurements

Fair Value Measurements	6 Months Ended
Fair Value Measurements	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Fair Value Measurements	Fair Value Measurements The following are the Company’s financial instruments measured at fair value on a recurring basis: Contingent consideration Contingent consideration is measured at fair value on a recurring basis using significant unobservable inputs and thus represent a Level 3 measurement in the valuation hierarchy. The following table summarizes the changes in the contingent consideration: Three Months Ended Six Months Ended (in thousands) 2023 2022 2023 2022 Beginning fair value $ — $ — $ — $ — Additions in the period — 7,007 — 7,007 Change in fair value (Gain) included in General and administrative expenses — (2,845) — (2,845) Ending fair value $ — $ 4,162 $ — $ 4,162 Change in unrealized (gain) related to instrument still held at end of period $ — $ (2,845) $ — $ (2,845) Contingent consideration relates to the estimated amount of additional cash consideration to be paid in connection with the Company's acquisition of CHT. The fair value is dependent on the probability of achieving certain revenue and gross profit margin targets for the two successive twelve-month periods following the closing of the acquisition. The Company uses the Monte Carlo simulation approach to estimate the fair value of the revenue and gross margin targets. A change in any of these unobservable inputs can significantly change the fair value of the contingent consideration. CHT was unable to meet its target for the first twelve-month period, and so the Company did not pay any consideration related to that period. In addition, based on further decline in CHT's projected revenue and gross margin, the Company does not expect CHT to meet the target for the second twelve-month period. Accordingly, the Company has determined the fair value of the consideration as of June 30, 2023 to be zero. As of June 30, 2023 the range of the undiscounted amounts the Company could pay under the agreement could be from zero to $15.0 million. The following are the Company’s financial instruments measured at fair value on a non-recurring basis: Long-Term Debt As of June 30, 2023, the carrying amount of the 2021 Term Loan Facility and the 2021 Revolving Credit Facility approximates their respective fair values. The Company used a discounted cash flow analysis to estimate the fair value of the long-term debt, using an adjusted discount rate of 6.90% and the estimated payments under the 2021 Term Loan Facility until maturity, including interest payable based on the Company's forecasted total net leverage ratio. Cost method investment The Company has elected the measurement alternative for its investment in equity securities without readily determinable fair values and reviews such investment on a quarterly basis to determine if it has been impaired. If the Company's assessment indicates that an impairment exists, the Company estimates the fair value of the equity investment and recognizes in its consolidated statement of operations an impairment loss that is equal to the difference between the fair value of the equity investment and its carrying amount. The Company determined that the fair value of the investment as of June 30, 2023 continued to be zero, and recognized an impairment loss of $0 and $1.4 million within other expenses (income), net in the consolidated statements of operations for the three and six months ended June 30, 2023. The accumulated impairment of this cost method investment as of June 30, 2023 and December 31, 2022, was $10.0 million and $8.6 million, respectively. The carrying value of the Company’s cost method investment, which is included in other assets in the consolidated balance sheets, was zero and $1.4 million as of June 30, 2023 and December 31, 2022, respectively. The Company used a market approach to estimate the fair value of equity and allocated the overall equity value to estimate the fair value of the common stock based on the liquidation preference and is classified within Level 3 of the fair value hierarchy. A change in any of the unobservable inputs can significantly change the fair value of the investment.

Income taxes

Income taxes	6 Months Ended
Income taxes	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Income taxes	Income taxes MediaAlpha, Inc. is taxed as a corporation and pays corporate federal, state and local taxes on income allocated to it from QLH based upon MediaAlpha, Inc.’s economic interest held in QLH. QLH is treated as a pass-through partnership for income tax reporting purposes and is not subject to federal income tax. Instead, QLH’s taxable income or loss is passed through to its members, including MediaAlpha, Inc. Accordingly, the Company is not liable for income taxes on the portion of QLH’s earnings not allocated to it. MediaAlpha, Inc. files and pays corporate income taxes for U.S. federal and state income tax purposes and its corporate subsidiary, Skytiger Studio, Ltd., is subject to taxation in Taiwan. The Company expects this structure to remain in existence for the foreseeable future. The Company estimates the annual effective tax rate for the full year to be applied to actual year-to-date income (loss) and adds the tax effects of any discrete items in the reporting period in which they occur. The Company’s effective income tax rate was (0.8)% and (0.7)% for the three and six months ended June 30, 2023, respectively. The Company’s effective income tax rate was (4.9)% and (8.3)% for the three and six months ended June 30, 2022, respectively. The following table summarizes the Company's income tax expense: Three Months Ended Six Months Ended (in thousands, except percentages) 2023 2022 2023 2022 (Loss) before income taxes $ (19,830) $ (12,411) $ (34,336) $ (21,116) Income tax expense $ 150 $ 611 $ 228 $ 1,754 Effective Tax Rate (0.8) % (4.9) % (0.7) % (8.3) % The Company's effective tax rate of (0.8)% and (0.7)% for the three and six months ended June 30, 2023 differed from the U.S. federal statutory rate of 21%, due primarily to the tax impacts of recording a valuation allowance against current year losses, nondeductible equity-based compensation, losses associated with non-controlling interests not taxable to the Company, state taxes, and other nondeductible permanent items. There were no material changes to the Company’s unrecognized tax benefits during the three and six months ended June 30, 2023. During the three months ended June 30, 2023, the Company received notification from the Internal Revenue Service that QLH's tax return for FY 2020 has been selected for audit. The Company does not expect to have any significant changes to unrecognized tax benefits through the end of the fiscal year. During the three and six months ended June 30, 2023, holders of Class B-1 units exchanged 766,000 and 776,000 Class B-1 units, respectively, together with an equal number of shares of Class B common stock, for shares of Class A common stock on a one-for-one basis (“Exchanges”). In connection with the Exchanges, the Company did not establish any additional liabilities related to the TRA, which are presented within additional-paid-in-capital in its consolidated statements of stockholders’ equity (deficit). In connection with the Exchanges and the changes to the carrying value of the non-controlling interest, the Company also recognizes deferred tax assets associated with the basis difference in its investment in QLH through additional-paid-in-capital, but during the three and six months ended June 30, 2023, the Company did not recognize any additional deferred tax assets as the Company recognized a full valuation allowance on its deferred tax assets. As of June 30, 2023 and December 31, 2022, the Company had a valuation allowance of $89.5 million and $91.8 million, respectively, against its deferred tax assets based on the recent history of pre-tax losses, which is considered a significant piece of objective negative evidence that is difficult to overcome and limits the ability to consider other subjective evidence, such as projections of future growth. It is possible in the foreseeable future that there may be sufficient positive evidence, and/or that the objective negative evidence in the form of history of pre-tax losses will no longer be present, in which event the Company could release a portion or all of the valuation allowance. Release of any amount of valuation allowance would result in a benefit to income tax expense for the period the release is recorded, which could have a material impact on net earnings. Tax Receivables Agreement In connection with the Reorganization Transactions and the IPO, the Company entered into the TRA with Insignia, Senior Executives, and White Mountains. The Company expects to obtain an increase in its share of the tax basis in the net assets of QLH as Class B-1 units, together with shares of Class B common stock, are exchanged for shares of Class A common stock (or, at the Company’s election, redeemed for cash of an equivalent value). The Company intends to treat any redemptions and exchanges of Class B-1 units as direct purchases for U.S. federal income tax purposes. These increases in tax basis may reduce the amounts that it would otherwise pay in the future to various tax authorities. As of June 30, 2023 and December 31, 2022, the Company determined that making a payment under the TRA was not probable under ASC 450 — Contingencies since a valuation allowance has been recorded against the Company’s deferred tax assets and the Company does not believe it will generate sufficient future taxable income to utilize related tax benefits and result in a payment under the TRA. As a result, the Company remeasured the liabilities due under the TRA to zero in the consolidated balance sheets. If the Company had determined that making a payment under the TRA and generating sufficient future taxable income was probable, it would have also recorded a liability pursuant to the TRA of approximately $88 million in the consolidated balance sheet. As of June 30, 2023 and December 31, 2022, the Company recorded zero and $2.8 million, respectively, as current portion of payments due under the TRA within accrued expenses in the consolidated balance sheets. Payments of $0 and $2.8 million were made pursuant to the TRA during the three and six months ended June 30, 2023, respectively, and $0 and $0.2 million during the three and six months ended June 30, 2022, respectively.

Earnings (Loss) Per Share

Earnings (Loss) Per Share	6 Months Ended
Earnings (Loss) Per Share	Jun. 30, 2023
Earnings Per Share [Abstract]
Earning (Loss) Per Share	Earnings (Loss) Per Share Three Months Ended Six Months Ended (in thousands except share data and per share amount) 2023 2022 2023 2022 Basic Net (loss) $ (19,980) $ (13,022) $ (34,564) $ (22,870) Less: net (loss) attributable to non-controlling interest (5,694) (3,883) (10,012) (6,655) Net (loss) available for basic common shares $ (14,286) $ (9,139) $ (24,552) $ (16,215) Weighted-average shares of Class A common stock outstanding - basic and diluted 45,160,646 41,705,344 44,518,890 41,279,146 (Loss) per share of Class A common stock - basic and diluted $ (0.32) $ (0.22) $ (0.55) $ (0.39) Effect of the Company’s potentially dilutive securities were not included in the calculation of diluted loss per share as the effect would be anti-dilutive. The following table summarizes the shares and units with a potentially dilutive impact: As of June 30, 2023 June 30, 2022 QLH Class B-1 Units 18,155,446 19,206,446 Restricted Class A Shares 80,268 332,072 Restricted stock units 5,165,167 6,371,147 Potential dilutive shares 23,400,881 25,909,665 The outstanding PRSUs were not included in the potentially dilutive securities as of June 30, 2023 as the performance conditions have not been met.

Non-Controlling Interest

Non-Controlling Interest	6 Months Ended
Non-Controlling Interest	Jun. 30, 2023
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. The non-controlling interests balance represents the Class B-1 units, substantially all of which are held by Insignia and the Senior Executives. During the three and six months ended June 30, 2023, the holders of the non-controlling interests exchanged 766,000 and 776,000 Class B-1 units, respectively, together with an equal number of shares of Class B common stock, for shares of Class A common stock on a one-for-one basis. As of June 30, 2023, the holders of the non-controlling interests owned 28.3% of the total equity interests in QLH, with the remaining 71.7% owned by MediaAlpha, Inc. As of December 31, 2022, the holders of the non-controlling interests owned 30.2% of the total equity interests in QLH, with the remaining 69.8% owned by MediaAlpha, Inc.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
Pay vs Performance Disclosure - USD ($) $ in Thousands	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Pay vs Performance Disclosure
Net Income (Loss) Attributable to Parent	$ (14,286)	$ (9,139)	$ (24,552)	$ (16,215)

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Jun. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

Summary of significant accoun_2

Summary of significant accounting policies (Policies)	6 Months Ended
Summary of significant accounting policies (Policies)	Jun. 30, 2023
Accounting Policies [Abstract]
Basis of presentation	Basis of presentation The accompanying unaudited consolidated financial statements and related disclosures have been prepared in accordance with accounting principles generally accepted in the United States of America ("GAAP") applicable to interim financial information and with the instructions to Form 10-Q and Rule 10-01 of Regulation S-X. In the opinion of management, all adjustments, consisting of only those of a normal recurring nature, considered necessary for a fair statement of the financial position and interim results of the Company as of and for the periods presented have been included. The December 31, 2022 balance sheet data was derived from audited consolidated financial statements; however, the accompanying interim notes to the consolidated financial statements do not include all of the annual disclosures required by GAAP. Results for interim periods are not necessarily indicative of those that may be expected for a full year. The financial information included herein should be read in conjunction with the Company's consolidated financial statements and related notes in its 2022 Annual Report on Form 10-K.
Accounts receivable	Accounts receivable Accounts receivable are net of allowances for credit losses of $0.3 million and $0.6 million as of June 30, 2023 and December 31, 2022, respectively.
Concentrations of credit risk and of significant customers and suppliers	Concentrations of credit risk and of significant customers and suppliers Financial instruments that potentially expose the Company to concentrations of credit risk consist primarily of cash and cash equivalents and accounts receivable. The Company maintains cash balances that can, at times, exceed amounts insured by the Federal Deposit Insurance Corporation. The Company has not experienced any losses in these accounts and believes it is not exposed to unusual risk beyond the normal credit risk in this area based on the financial strength of the institutions with which the Company maintains its deposits. The Company's accounts receivable, which are unsecured, may expose it to credit risk based on their collectability. The Company controls credit risk by investigating the creditworthiness of all customers prior to establishing relationships with them, performing periodic reviews of the credit activities of those customers during the course of the business relationship, regularly analyzing the collectability of accounts receivable, and recording allowances for credit losses. The Company's supplier concentration can also expose it to business risks. Customer and supplier concentrations consisted of the below: Three Months Ended Three Months Ended Number of customers or suppliers exceeding 10% Aggregate Value % of Total Number of customers or suppliers exceeding 10% Aggregate Value % of Total Revenue — $ — — % 1 $ 13 13 % Purchases 1 $ 8 11 % 1 $ 10 10 % Six Months Ended Six Months Ended Number of customers or suppliers exceeding 10% Aggregate Value % of Total Number of customers or suppliers exceeding 10% Aggregate Value % of Total Revenue 1 $ 22 11 % 1 $ 32 13 % Purchases 1 $ 17 11 % 1 $ 24 10 % As of June 30, 2023 As of December 31, 2022 Number of customers or suppliers exceeding 10% Aggregate Value % of Total Number of customers or suppliers exceeding 10% Aggregate Value % of Total Accounts receivable 1 $ 4 12 % — $ — — % Accounts payable 1 $ 5 14 % 2 $ 22 40 %
New accounting pronouncements	New Accounting Pronouncements Recently adopted accounting pronouncements In October 2021, the Financial Accounting Standards Board ("FASB") issued Accounting Standards Update ("ASU") No. 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from contracts with customers. The ASU requires contract assets and contract liabilities acquired in a business combination to be recognized and measured by the acquirer on the acquisition date in accordance with Accounting Standards Codification (“ASC”) 606, Revenue from Contracts with Customers, as if it had originated the contracts. Under the current business combinations guidance, such assets and liabilities were recognized by the acquirer at fair value on the acquisition date. The guidance in ASU is effective for fiscal years, and interim periods within those fiscal years, beginning after December 15, 2022, with early adoption permitted and will be applied prospectively to business combinations occurring on or after the effective date of the amendment. The Company adopted the ASU on January 1, 2023 and the adoption did not have any impact on the Company's consolidated financial statements. In March 2020 and January 2021, the FASB issued ASU No. 2020-4, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting and ASU 2021-1, Reference Rate Reform (Topic 848): Scope, respectively. ASU 2020-4 and ASU 2021-1 provide optional expedients and exceptions for applying U.S. GAAP, to contracts, and other transactions that reference the London Interbank Offered Rate ("LIBOR") or another reference rate expected to be discontinued because of reference rate reform, if certain criteria are met. The guidance in ASU 2020-4 and ASU 2021-1 was effective upon issuance and, once adopted, may be applied prospectively to contract modifications and hedging relationships through December 31, 2022. In December 2022, the FASB issued ASU No. 2022-6, Deferral of the Sunset Date of Topic 848, which deferred the sunset date of Topic 848 from December 31, 2022 to December 31, 2024 to align with the amended cessation date of LIBOR, which had been delayed to June 30, 2023. On June 8, 2023, the Company amended its existing credit agreement to change the interest rate benchmark under the 2021 Credit Facilities from LIBOR to the Secured Overnight Financing Rate ("SOFR"), as further discussed in Note 6 - Long term debt. Effective June 8, 2023, the Company adopted ASC Topic 848 and qualified for the available optional expedients, which allows the Company to account for the contract modifications as continuations of the existing contract without further reassessment or remeasurement that would otherwise be required under the applicable U.S. GAAP. The adoption did not have a material impact on the Company's consolidated financial statements. Recently issued not yet adopted accounting pronouncements There have been no other accounting pronouncements issued but not yet adopted by the Company which are expected to have a material impact on the Consolidated Financial Statements.

Summary of significant accoun_3

Summary of significant accounting policies (Tables)	6 Months Ended
Summary of significant accounting policies (Tables)	Jun. 30, 2023
Accounting Policies [Abstract]
Summary of Customer and Supplier Concentration Risk	Customer and supplier concentrations consisted of the below: Three Months Ended Three Months Ended Number of customers or suppliers exceeding 10% Aggregate Value % of Total Number of customers or suppliers exceeding 10% Aggregate Value % of Total Revenue — $ — — % 1 $ 13 13 % Purchases 1 $ 8 11 % 1 $ 10 10 % Six Months Ended Six Months Ended Number of customers or suppliers exceeding 10% Aggregate Value % of Total Number of customers or suppliers exceeding 10% Aggregate Value % of Total Revenue 1 $ 22 11 % 1 $ 32 13 % Purchases 1 $ 17 11 % 1 $ 24 10 % As of June 30, 2023 As of December 31, 2022 Number of customers or suppliers exceeding 10% Aggregate Value % of Total Number of customers or suppliers exceeding 10% Aggregate Value % of Total Accounts receivable 1 $ 4 12 % — $ — — % Accounts payable 1 $ 5 14 % 2 $ 22 40 %

Disaggregation of revenue (Tabl

Disaggregation of revenue (Tables)	6 Months Ended
Disaggregation of revenue (Tables)	Jun. 30, 2023
Disaggregation of Revenue [Abstract]
Summary of Disaggregation of Revenue	The following table shows the Company’s revenue disaggregated by transaction model: Three Months Ended Six Months Ended (in thousands) 2023 2022 2023 2022 Revenue Open marketplace transactions $ 82,856 $ 99,633 $ 190,515 $ 237,729 Private marketplace transactions 1,916 3,816 5,887 8,319 Total $ 84,772 $ 103,449 $ 196,402 $ 246,048 The following table shows the Company’s revenue disaggregated by product vertical: Three Months Ended Six Months Ended (in thousands) 2023 2022 2023 2022 Revenue Property & casualty insurance $ 39,492 $ 57,571 $ 94,599 $ 145,025 Health insurance 35,628 33,163 81,231 75,272 Life insurance 5,889 7,005 12,980 14,072 Other 3,763 5,710 7,592 11,679 Total $ 84,772 $ 103,449 $ 196,402 $ 246,048

Business Combinations (Tables)

Business Combinations (Tables)	6 Months Ended
Business Combinations (Tables)	Jun. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Summary of Consideration Transferred	The acquisition date fair value of the purchase consideration for the acquisition was $56.7 million, and consisted of the following (in thousands): Fair Value Cash consideration (net of working capital adjustments) $ 49,677 Contingent consideration 7,007 Total purchase consideration $ 56,684
Summary of Purchase Price Allocation	In accordance with the acquisition method of accounting, the purchase consideration was allocated to the assets acquired and liabilities assumed based on their fair values on the date of the acquisition as follows (in thousands): Accounts receivable $ 1,275 Prepaid expenses and other current assets 17 Intangible assets 26,120 Goodwill 29,337 Accounts payable (18) Accrued expenses (47) Net assets acquired $ 56,684
Summary of Revenue and Pretax Loss	The following pro forma financial information summarizes the combined results of operations for the Company and CHT, as though the companies were combined as of the beginning of the Company’s fiscal 2021. The unaudited pro forma financial information was as follows: Three Months Ended Six Months Ended (in thousands) 2022 2022 Total revenues $ 103,449 $ 252,318 Pretax (loss) $ (12,398) $ (19,606)

Goodwill and intangible assets

Goodwill and intangible assets (Tables)	6 Months Ended
Goodwill and intangible assets (Tables)	Jun. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill and Intangible Assets	Goodwill and intangible assets consisted of: As of June 30, 2023 December 31, 2022 (in thousands) Useful Gross carrying amount Accumulated amortization Net carrying amount Gross carrying amount Accumulated amortization Net carrying amount Customer relationships 84 - 120 $ 43,500 $ (20,883) $ 22,617 $ 43,500 $ (17,820) $ 25,680 Non-compete agreements 60 303 (303) — 303 (303) — Trademarks, trade names, and domain names 60 - 120 8,884 (2,027) 6,857 8,884 (1,632) 7,252 Intangible assets $ 52,687 $ (23,213) $ 29,474 $ 52,687 $ (19,755) $ 32,932 Goodwill Indefinite $ 47,739 $ — $ 47,739 $ 47,739 $ — $ 47,739
Summary of Change in Goodwill and Intangible Assets	The following table presents the changes in goodwill and intangible assets: As of June 30, 2023 December 31, 2022 (in thousands) Goodwill Intangible Goodwill Intangible Beginning balance at January 1, $ 47,739 $ 32,932 $ 18,402 $ 12,567 Additions to goodwill and intangible assets — — 29,337 26,120 Amortization — (3,458) — (5,755) Ending balance $ 47,739 $ 29,474 $ 47,739 $ 32,932
Summary of Future Amortization Expense on Identifiable Intangible Assets	As of June 30, 2023, future amortization expense relating to identifiable intangible assets with estimable useful lives over the next five years was as follows: (in thousands) Amortization expense 2023–Remaining Period $ 3,458 2024 6,428 2025 5,759 2026 5,143 2027 4,106 Thereafter 4,580 $ 29,474

Accrued expenses (Tables)

Accrued expenses (Tables)	6 Months Ended
Accrued expenses (Tables)	Jun. 30, 2023
Payables and Accruals [Abstract]
Summary of Accrued Expenses	Accrued expenses include the following: As of (in thousands) June 30, December 31, Accrued payroll and related expenses $ 2,576 $ 3,621 Accrued operating expenses 4,533 2,036

Long-term debt (Tables)

Long-term debt (Tables)	6 Months Ended
Long-term debt (Tables)	Jun. 30, 2023
Debt Disclosure [Abstract]
Schedule of Long-term Debt	Long-term debt consisted of the following: As of (in thousands) June 30, December 31, 2021 Term Loan Facility $ 175,750 $ 180,500 2021 Revolving Credit Facility 5,000 5,000 Debt issuance costs (2,064) (2,430) Total debt $ 178,686 $ 183,070 Less: current portion, net of debt issuance costs of $713 and $730, respectively (8,787) (8,770) Total long-term debt $ 169,899 $ 174,300
Schedule of Expected Future Principal Payments for Borrowings	The expected future principal payments for all borrowings as of June 30, 2023 were as follows: (in thousands) Contractual maturity 2023–Remaining Period $ 4,750 2024 9,500 2025 9,500 2026 157,000 Debt and issuance costs 180,750 Unamortized debt issuance costs (2,064) Total debt $ 178,686

Equity-based compensation (Tabl

Equity-based compensation (Tables)	6 Months Ended
Equity-based compensation (Tables)	Jun. 30, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Equity-based Compensation Cost Recognized	Equity-based compensation cost recognized for equity-based awards outstanding during the three and six months ended June 30, 2023 and 2022 was as follows: Three Months Ended Six Months Ended (in thousands) 2023 2022 2023 2022 QLH restricted Class B-1 units 14 47 59 132 Restricted Class A shares 132 213 334 561 Restricted stock units 15,039 15,520 29,096 28,860 Performance-based restricted stock units (37) 63 — 63 Total equity-based compensation $ 15,148 $ 15,843 $ 29,489 $ 29,616
Schedule of Equity-based Compensation Expense	Equity-based compensation cost was allocated to the following expense categories in the consolidated statements of operations during the three and six months ended June 30, 2023 and 2022: Three Months Ended Six Months Ended (in thousands) 2023 2022 2023 2022 Cost of revenue $ 981 $ 1,240 $ 1,947 $ 1,638 Sales and marketing 2,363 2,769 4,744 5,474 Product development 2,099 2,646 4,271 4,895 General and administrative 9,705 9,188 18,527 17,609 Total equity-based compensation $ 15,148 $ 15,843 $ 29,489 $ 29,616

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	6 Months Ended
Fair Value Measurements (Tables)	Jun. 30, 2023
Fair Value Disclosures [Abstract]
Schedule of Fair Value of the Company's Contingent Consideration Obligations	The following table summarizes the changes in the contingent consideration: Three Months Ended Six Months Ended (in thousands) 2023 2022 2023 2022 Beginning fair value $ — $ — $ — $ — Additions in the period — 7,007 — 7,007 Change in fair value (Gain) included in General and administrative expenses — (2,845) — (2,845) Ending fair value $ — $ 4,162 $ — $ 4,162 Change in unrealized (gain) related to instrument still held at end of period $ — $ (2,845) $ — $ (2,845)

Income taxes (Tables)

Income taxes (Tables)	6 Months Ended
Income taxes (Tables)	Jun. 30, 2023
Income Tax Disclosure [Abstract]
Summary of Our Income Tax Expense (Benefit)	The following table summarizes the Company's income tax expense: Three Months Ended Six Months Ended (in thousands, except percentages) 2023 2022 2023 2022 (Loss) before income taxes $ (19,830) $ (12,411) $ (34,336) $ (21,116) Income tax expense $ 150 $ 611 $ 228 $ 1,754 Effective Tax Rate (0.8) % (4.9) % (0.7) % (8.3) %

Earnings (Loss) Per Share (Tabl

Earnings (Loss) Per Share (Tables)	6 Months Ended
Earnings (Loss) Per Share (Tables)	Jun. 30, 2023
Earnings Per Share [Abstract]
Summary of Calculation of Basic and Diluted Net Loss Per Share	Three Months Ended Six Months Ended (in thousands except share data and per share amount) 2023 2022 2023 2022 Basic Net (loss) $ (19,980) $ (13,022) $ (34,564) $ (22,870) Less: net (loss) attributable to non-controlling interest (5,694) (3,883) (10,012) (6,655) Net (loss) available for basic common shares $ (14,286) $ (9,139) $ (24,552) $ (16,215) Weighted-average shares of Class A common stock outstanding - basic and diluted 45,160,646 41,705,344 44,518,890 41,279,146 (Loss) per share of Class A common stock - basic and diluted $ (0.32) $ (0.22) $ (0.55) $ (0.39)
Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share	Effect of the Company’s potentially dilutive securities were not included in the calculation of diluted loss per share as the effect would be anti-dilutive. The following table summarizes the shares and units with a potentially dilutive impact: As of June 30, 2023 June 30, 2022 QLH Class B-1 Units 18,155,446 19,206,446 Restricted Class A Shares 80,268 332,072 Restricted stock units 5,165,167 6,371,147 Potential dilutive shares 23,400,881 25,909,665

Summary of significant accoun_4

Summary of significant accounting policies - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Significant Accounting Policies [Line Items]
Accounts receivable, allowance for credit losses	$ 325,000		$ 325,000		$ 575,000
Payments pursuant to tax receivable agreement			2,822,000	$ 216,000
Revolving Credit Facility
Significant Accounting Policies [Line Items]
Outstanding amount drawn under revolving credit facility	180,800,000		180,800,000
Available credit under agreement	45,000,000		$ 45,000,000
Tax Receivables Agreement \| Related Party
Significant Accounting Policies [Line Items]
Percentage of cash savings required to pay			85%
Payments pursuant to tax receivable agreement	$ 0	$ 0	$ 2,800,000	$ 200,000

Summary of significant accoun_5

Summary of significant accounting policies - Summary of Customer and Supplier Concentration Risk (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Significant Accounting Policies [Line Items]
Revenue	$ 84,772	$ 103,449	$ 196,402	$ 246,048
Purchases	71,006	87,925	164,268	208,806
Accounts receivable	32,589		32,589		$ 59,998
Accounts payable	37,815		37,815		53,992
Top One Supplier \| Supplier Concentration Risk \| Purchases
Significant Accounting Policies [Line Items]
Purchases	$ 8,000	$ 10,000	$ 17,000	$ 24,000
Concentration risk percentage	11%	10%	11%	10%
Top One Supplier \| Supplier Concentration Risk \| Accounts Payable Benchmark
Significant Accounting Policies [Line Items]
Accounts payable	$ 5,000		$ 5,000
Concentration risk percentage			14%
Top Two Suppliers \| Supplier Concentration Risk \| Accounts Payable Benchmark
Significant Accounting Policies [Line Items]
Accounts payable					$ 22,000
Concentration risk percentage					40%
Top One Customer \| Customer Concentration Risk \| Revenue from Contract with Customer Benchmark
Significant Accounting Policies [Line Items]
Revenue		$ 13,000	$ 22,000	$ 32,000
Concentration risk percentage		13%	11%	13%
Top One Customer \| Customer Concentration Risk \| Accounts Receivable
Significant Accounting Policies [Line Items]
Accounts receivable	$ 4,000		$ 4,000
Concentration risk percentage			12%

Disaggregation of revenue - Sum

Disaggregation of revenue - Summary of Disaggregation of Revenue by Transaction Model (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 84,772	$ 103,449	$ 196,402	$ 246,048
Open marketplace transactions
Disaggregation of Revenue [Line Items]
Revenue	82,856	99,633	190,515	237,729
Private marketplace transactions
Disaggregation of Revenue [Line Items]
Revenue	$ 1,916	$ 3,816	$ 5,887	$ 8,319

Disaggregation of revenue - S_2

Disaggregation of revenue - Summary of Disaggregation of Revenue by Product Vertical (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Disaggregation of Revenue [Line Items]
Revenue	$ 84,772	$ 103,449	$ 196,402	$ 246,048
Property & casualty insurance
Disaggregation of Revenue [Line Items]
Revenue	39,492	57,571	94,599	145,025
Health insurance
Disaggregation of Revenue [Line Items]
Revenue	35,628	33,163	81,231	75,272
Life insurance
Disaggregation of Revenue [Line Items]
Revenue	5,889	7,005	12,980	14,072
Other
Disaggregation of Revenue [Line Items]
Revenue	$ 3,763	$ 5,710	$ 7,592	$ 11,679

Business Combinations - Summary

Business Combinations - Summary of Consideration Transferred (Details) - QuoteLab, LLC $ in Thousands	Feb. 24, 2022 USD ($)
Business Acquisition, Contingent Consideration [Line Items]
Cash consideration (net of working capital adjustments)	$ 49,677
Contingent consideration	7,007
Total purchase consideration	$ 56,684

Business Combinations - Narrati

Business Combinations - Narrative (Details) - Customer Helper Team, LLC		3 Months Ended	6 Months Ended
	Feb. 24, 2022 USD ($) period	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)
Business Acquisition, Contingent Consideration [Line Items]
Asset acquisition, contingent consideration, number of periods \| period	2
Contingent consideration period (in years)	12 months
Acquisition related costs		$ 200,000	$ 500,000
Expected goodwill deductible for tax purposes			22,700,000
Minimum
Business Acquisition, Contingent Consideration [Line Items]
Contingent payments	$ 0		0
Maximum
Business Acquisition, Contingent Consideration [Line Items]
Contingent payments	$ 20,000,000		$ 15,000,000

Business Combinations - Summa_2

Business Combinations - Summary of Purchase Price Allocation (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Feb. 24, 2022	Dec. 31, 2021
Business Acquisition, Contingent Consideration [Line Items]
Goodwill	$ 47,739	$ 47,739		$ 18,402
QuoteLab, LLC
Business Acquisition, Contingent Consideration [Line Items]
Accounts receivable			$ 1,275
Prepaid expenses and other current assets			17
Intangible assets			26,120
Goodwill			29,337
Accounts payable			(18)
Accrued expenses			(47)
Net assets acquired			$ 56,684

Business Combinations - Summa_3

Business Combinations - Summary of Revenue and Pretax Loss (Details) - Customer Helper Team, LLC - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023
Business Acquisition, Contingent Consideration [Line Items]
Total revenues	$ 103,449	$ 252,318
Pretax (loss)	$ (12,398)	$ (19,606)

Goodwill and intangible asset_2

Goodwill and intangible assets - Summary of Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill And Intangible Assets [Line Items]
Gross carrying amount	$ 52,687	$ 52,687
Accumulated amortization	(23,213)	(19,755)
Net carrying amount	29,474	32,932	$ 12,567
Goodwill	47,739	47,739	$ 18,402
Customer relationships
Goodwill And Intangible Assets [Line Items]
Gross carrying amount	43,500	43,500
Accumulated amortization	(20,883)	(17,820)
Net carrying amount	$ 22,617	25,680
Customer relationships \| Minimum
Goodwill And Intangible Assets [Line Items]
Useful life (months)	84 months
Customer relationships \| Maximum
Goodwill And Intangible Assets [Line Items]
Useful life (months)	120 months
Non-compete agreements
Goodwill And Intangible Assets [Line Items]
Useful life (months)	60 months
Gross carrying amount	$ 303	303
Accumulated amortization	(303)	(303)
Net carrying amount	0	0
Trademarks, trade names, and domain names
Goodwill And Intangible Assets [Line Items]
Gross carrying amount	8,884	8,884
Accumulated amortization	(2,027)	(1,632)
Net carrying amount	$ 6,857	$ 7,252
Trademarks, trade names, and domain names \| Minimum
Goodwill And Intangible Assets [Line Items]
Useful life (months)	60 months
Trademarks, trade names, and domain names \| Maximum
Goodwill And Intangible Assets [Line Items]
Useful life (months)	120 months

Goodwill and intangible asset_3

Goodwill and intangible assets - Narrative (Details) - USD ($)	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Goodwill and Intangible Assets Disclosure [Abstract]
Amortization of intangible assets	$ 1,700,000	$ 1,700,000	$ 3,458,000	$ 2,360,000	$ 5,755,000
Accumulated impairment of goodwill	$ 0		$ 0

Goodwill and intangible asset_4

Goodwill and intangible assets - Summary of Change in Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended		12 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022	Dec. 31, 2022
Goodwill
Beginning balance at January 1,			$ 47,739	$ 18,402	$ 18,402
Additions to goodwill			0		29,337
Ending balance	$ 47,739		47,739		47,739
Intangible assets
Beginning balance at January 1,			32,932	12,567	12,567
Additions to intangible assets			0		26,120
Amortization	(1,700)	$ (1,700)	(3,458)	$ (2,360)	(5,755)
Ending balance	$ 29,474		$ 29,474		$ 32,932

Goodwill and intangible asset_5

Goodwill and intangible assets - Summary of Future Amortization Expense on Identifiable Intangible Assets (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
2023 - Remaining Period	$ 3,458
2024	6,428
2025	5,759
2026	5,143
2027	4,106
Thereafter	4,580
Net carrying amount	$ 29,474	$ 32,932	$ 12,567

Accrued expenses - Summary of A

Accrued expenses - Summary of Accrued Expenses (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Accrued payroll and related expenses	$ 2,576	$ 3,621
Accrued operating expenses	$ 4,533	$ 2,036

Long-term debt - Narrative (Det

Long-term debt - Narrative (Details) $ in Thousands		3 Months Ended		6 Months Ended
Long-term debt - Narrative (Details) $ in Thousands	Jun. 08, 2023	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)	Jul. 29, 2021 USD ($)
Debt Instrument [Line Items]
Existing term loans outstanding		$ 178,686		$ 178,686		$ 183,070
Interest expense		3,700	$ 1,700	7,100	$ 3,000
Amortization of deferred debt issuance costs		200	200	398	418
Accrued interest		3,700		3,700		$ 3,000
Revolving Credit Facility
Debt Instrument [Line Items]
Interest expense		$ 200	$ 200	$ 300	$ 300
2021 Credit Facilities
Debt Instrument [Line Items]
Quarterly amortization rate							1.25%
2021 Credit Facilities \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Interest rate adjustment	0.0010
Variable rate floor	0
2021 Credit Facilities \| Minimum \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Interest rate spread	2%
2021 Credit Facilities \| Minimum \| Base Rate
Debt Instrument [Line Items]
Interest rate spread	1%
2021 Credit Facilities \| Maximum \| Secured Overnight Financing Rate (SOFR)
Debt Instrument [Line Items]
Interest rate spread	2.75%
2021 Credit Facilities \| Maximum \| Base Rate
Debt Instrument [Line Items]
Interest rate spread	1.75%
2021 Credit Facilities \| Term loan
Debt Instrument [Line Items]
Aggregate principal amount							$ 190,000
2021 Credit Facilities \| Revolving Credit Facility \| Line of credit
Debt Instrument [Line Items]
Revolving line of credit							50,000
2020 Credit Facilities \| Term loan
Debt Instrument [Line Items]
Existing term loans outstanding							$ 186,400

Long-term debt - Schedule of Lo

Long-term debt - Schedule of Long Term Debt (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Debt issuance costs	$ (2,064)	$ (2,430)
Total debt	178,686	183,070
Current portion of long-term debt	(8,787)	(8,770)
Total long-term debt	169,899	174,300
Debt issuance costs	713	730
Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding amount drawn under revolving credit facility	180,800
Term loan \| 2021 Credit Facilities
Debt Instrument [Line Items]
2021 Term Loan Facility	175,750	180,500
Line of credit \| 2021 Credit Facilities \| Revolving Credit Facility
Debt Instrument [Line Items]
Outstanding amount drawn under revolving credit facility	$ 5,000	$ 5,000

Long-term debt - Schedule of Ex

Long-term debt - Schedule of Expected Future Principal Payments for Borrowings (Details) - USD ($) $ in Thousands	Jun. 30, 2023	Dec. 31, 2022
Long-term Debt, Fiscal Year Maturity [Abstract]
2023–Remaining Period	$ 4,750
2024	9,500
2025	9,500
2026	157,000
Debt and issuance costs	180,750
Unamortized debt issuance costs	(2,064)	$ (2,430)
Total debt	$ 178,686	$ 183,070

Commitments and contingencies -

Commitments and contingencies - Narrative (Details) - USD ($)	3 Months Ended	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2023	Dec. 31, 2022
Litigation And Other Matters [Line Items]
Contingency reserves for litigation liabilities	$ 0	$ 0	$ 0
FTC Act, Telemarketing Sales Rule
Litigation And Other Matters [Line Items]
Legal fees incurred	$ 1,100,000	$ 1,400,000

Equity-based compensation - Nar

Equity-based compensation - Narrative (Details)	6 Months Ended
Equity-based compensation - Narrative (Details)	Jun. 30, 2023 USD ($)
QLH restricted Class B-1 units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 44,000
Weighted average period of recognition	8 months 4 days
Restricted Class A shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 500,000
Weighted average period of recognition	10 months 20 days
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 73,300,000
Weighted average period of recognition	2 years 5 months 1 day
Performance restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation cost	$ 0
Weighted average period of recognition	8 months 15 days

Equity-based compensation - Sum

Equity-based compensation - Summary of Equity-based Compensation Cost Recognized (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	$ 15,148	$ 15,843	$ 29,489	$ 29,616
QLH restricted Class B-1 units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	14	47	59	132
Restricted Class A shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	132	213	334	561
Restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	15,039	15,520	29,096	28,860
Performance-based restricted stock units
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	$ (37)	$ 63	$ 0	$ 63

Equity-based compensation - Sch

Equity-based compensation - Schedule of Equity-based Compensation Expense (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	$ 15,148	$ 15,843	$ 29,489	$ 29,616
Cost of revenue
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	981	1,240	1,947	1,638
Sales and marketing
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	2,363	2,769	4,744	5,474
Product development
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	2,099	2,646	4,271	4,895
General and administrative
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Total equity-based compensation	$ 9,705	$ 9,188	$ 18,527	$ 17,609

Stockholders' Equity (Deficit)

Stockholders' Equity (Deficit) (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2022	Jun. 30, 2022	Mar. 14, 2022
Equity [Abstract]
Amount of shares authorized to be repurchased			$ 5,000
Repurchases of Class A common Stock (in shares)	321,150	321,150
Stock repurchased during period, value	$ 3,457	$ 3,500

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Fair Value of the Company's Contingent Consideration Obligations (Details) - Contingent consideration - Fair Value, Inputs, Level 3 - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation, Calculation [Roll Forward]
Beginning fair value	$ 0	$ 0	$ 0	$ 0
Additions in the period	0	7,007	0	7,007
Change in fair value	0	(2,845)	0	(2,845)
Ending fair value	$ 0	$ 4,162	$ 0	$ 4,162

Fair Value Measurements - Narra

Fair Value Measurements - Narrative (Details)		3 Months Ended	6 Months Ended
Fair Value Measurements - Narrative (Details)	Feb. 24, 2022 USD ($) period	Jun. 30, 2023 USD ($)	Jun. 30, 2023 USD ($)	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Equity securities without readily determinable fair value		$ 0	$ 0		$ 1,400,000
Impairment of cost method investment		0	1,406,000	$ 0
Accumulated impairment of cost-method investment		$ 10,000,000	$ 10,000,000		$ 8,600,000
Fair Value, Inputs, Level 3 \| Measurement Input, Discount Rate \| Valuation Technique, Discounted Cash Flow
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Long-term debt, measurement input		0.0690	0.0690
Customer Helper Team, LLC
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Asset acquisition, contingent consideration, number of periods \| period	2
Contingent consideration period (in years)	12 months
Contingent consideration, fair value		$ 0	$ 0
Customer Helper Team, LLC \| Minimum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent payments	$ 0		0
Customer Helper Team, LLC \| Maximum
Fair Value, Liabilities Measured on Recurring Basis, Unobservable Input Reconciliation [Line Items]
Contingent payments	$ 20,000,000		$ 15,000,000

Income taxes - Narrative (Detai

Income taxes - Narrative (Details)	3 Months Ended		6 Months Ended
Income taxes - Narrative (Details)	Jun. 30, 2023 USD ($) shares	Jun. 30, 2022 USD ($)	Jun. 30, 2023 USD ($) shares	Jun. 30, 2022 USD ($)	Dec. 31, 2022 USD ($)
Income Tax Disclosure [Line Items]
Effective income tax rate	(0.80%)	(4.90%)	(0.70%)	(8.30%)
Statutory federal tax rate			21%
Conversion of stock (in shares) \| shares	766,000		776,000
Stockholder's equity, exchange ratio	1		1
Deferred tax assets, valuation allowance	$ 89,500,000		$ 89,500,000		$ 91,800,000
Liability on tax receivable agreement			0
Unrecognized liability on tax receivable agreement			88,000,000
Payments pursuant to tax receivable agreement			2,822,000	$ 216,000
Tax Receivables Agreement
Income Tax Disclosure [Line Items]
Liabilities under tax receivables agreement, net of current portion	0		0		$ 2,800,000
Tax Receivables Agreement \| Related Party
Income Tax Disclosure [Line Items]
Payments pursuant to tax receivable agreement	$ 0	$ 0	$ 2,800,000	$ 200,000

Income taxes - Summary of Our I

Income taxes - Summary of Our Income Tax Expense (Benefit) (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022	Jun. 30, 2023	Jun. 30, 2022
Income Tax Disclosure [Abstract]
(Loss) before income taxes	$ (19,830)	$ (12,411)	$ (34,336)	$ (21,116)
Income tax expense	$ 150	$ 611	$ 228	$ 1,754
Effective Tax Rate	(0.80%)	(4.90%)	(0.70%)	(8.30%)

Earnings (Loss) Per Share - Sum

Earnings (Loss) Per Share - Summary of Calculation of Basic and Diluted Net Loss Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended				6 Months Ended
	Jun. 30, 2023	Mar. 31, 2023	Jun. 30, 2022	Mar. 31, 2022	Jun. 30, 2023	Jun. 30, 2022
Basic
Net (loss)	$ (19,980)	$ (14,584)	$ (13,022)	$ (9,848)	$ (34,564)	$ (22,870)
Net (loss) attributable to non-controlling interest	(5,694)		(3,883)		(10,012)	(6,655)
Net (loss) available for basic common shares	$ (14,286)		$ (9,139)		$ (24,552)	$ (16,215)
Weighted-average shares of Class A common stock outstanding - Basic (in shares)	45,160,646		41,705,344		44,518,890	41,279,146
Weighted-average shares of Class A common stock outstanding - Diluted (in shares)	45,160,646		41,705,344		44,518,890	41,279,146
(Loss) earnings per share of Class A common stock - Basic (in dollars per share)	$ (0.32)		$ (0.22)		$ (0.55)	$ (0.39)
(Loss) earnings per share of Class A common stock - Diluted (in dollars per share)	$ (0.32)		$ (0.22)		$ (0.55)	$ (0.39)
Class A Common
Basic
Weighted-average shares of Class A common stock outstanding - Basic (in shares)	45,160,646		41,705,344		44,518,890	41,279,146
Weighted-average shares of Class A common stock outstanding - Diluted (in shares)			41,705,344
(Loss) earnings per share of Class A common stock - Basic (in dollars per share)	$ (0.32)		$ (0.22)		$ (0.55)	$ (0.39)
(Loss) earnings per share of Class A common stock - Diluted (in dollars per share)	$ (0.32)		$ (0.22)		$ (0.55)	$ (0.39)

Earnings (Loss) Per Share- Sche

Earnings (Loss) Per Share- Schedule of Antidilutive Securities Excluded from Computation of Earnings Per Share (Details) - shares	6 Months Ended
	Jun. 30, 2023	Jun. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential dilutive shares (in shares)	23,400,881	25,909,665
QLH Class B-1 Units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential dilutive shares (in shares)	18,155,446	19,206,446
Restricted Class A shares
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential dilutive shares (in shares)	80,268	332,072
Restricted stock units
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Potential dilutive shares (in shares)	5,165,167	6,371,147

Non-Controlling Interest - Narr

Non-Controlling Interest - Narrative (Details)	3 Months Ended	6 Months Ended
Non-Controlling Interest - Narrative (Details)	Jun. 30, 2023 shares	Jun. 30, 2023 shares	Dec. 31, 2022
Noncontrolling Interest [Line Items]
Conversion of stock (in shares)	766,000	776,000
Stockholder's equity, exchange ratio	1	1
QLH
Noncontrolling Interest [Line Items]
Non-controlling interests owned	71.70%	71.70%	69.80%
QLH \| QLH Class B-1 Unitholders
Noncontrolling Interest [Line Items]
Ownership interest owned	28.30%	28.30%	30.20%