On this page of Benford's Law Stocks.com we present our study of MediaAlpha, Inc. — ticker symbol MAX. SEC filings have been screened by our Benford's Law software, for quarterly 10Q and annual 10K filings from 5/14/2021 to 2/23/2026 for MediaAlpha, Inc. under CIK number 0001818383. For filings made in XBRL (eXtensible Business Reporting Language) format, our algorithm extracts all "tagged" numbers presented by the company; for any non-XBRL filings our algorithm uses its own interal set of rules to extract what it believes to be numbers as found throughout the filings. The format found for each filing is presented below together with the results for MAX, with the percentage of found numbers beginning with each digit (1's, 2's, 3's, 4's, 5's, 6's, 7's, 8's, and 9's) charted against the "normal" range observed throughout our coverage universe, as well as the "normal" range for MediaAlpha, Inc. based on the past MAX filings our system processed in the past.
Benford Chart for MAX 10K Filed 2/23/2026
32.9
13.9
12.8
12.3
9.5
5.4
3.8
6.7
2.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
XBRL? ✓  [ original filing, MAX stockholder letter ]
Total numbers found: 864
Recent share count: 56,868,573 (5's column)

■ = Typical range across full coverage universe
# of Numbers Found in Filing
Benford's Law Stocks Indicator
864
Normal-to-low count compared to other filers, above the bottom quartile. At this number count, it would take about 9 numbers to move any given column by a full percentage point.
Benford's Law Stocks Score for MAX = 88
88

Starting from a possible score of 100, we made the following score deductions:
 • We deducted point upon observing the 2's percentage was below the typical coverage universe range.
 • We deducted points upon observing the 4's percentage was above the typical coverage universe range.
 • We deducted point upon observing the 7's percentage was below the typical coverage universe range.
 • We deducted point upon observing the 7's percentage was below the company's typical historical range.
 • The 8's percentage was higher than the 7's percentage, increasing the penalty multiplier.
 • We deducted points (includes the impact of penalty multiplier) upon observing the 8's percentage was above the typical coverage universe range.
 • We deducted point upon observing the 9's percentage was below the typical coverage universe range.
MAX's Score Vs. Typical Stock
Benford's Law Stocks Indicator
MAX
Normal-to-high score compared to other filers, falling within the top of the middle 50%.
Other Stocks Ranking Near MAX
Check our work! We provide our MediaAlpha, Inc. Benford's Law analysis for informational purposes only, and our software should be expected to make mistakes and contain errors (nothing you see on this website should be relied upon for any decision-making without first repeating the analysis yourself independently), and so below we present to you all of the numbers our system detected, for the MAX filing above. This way, you can open the filing on your own and compare what you see below against what you yourself find. This can also be helpful for exploring any columns in particular that caught your eye.

1's 2's 3's
We found 284 numbers that start with the digit 1. Here they are:
1,005
123,019
142,932
174,372
189,909
19,985
149,734
105,563
18,542
147,647
132,954
131,602
153,596
124,212
15,123
1.0
100
11.6
116
1,113,600
19,764
18,458
13,416
1,091,480
121,938
1,779
11,243
14,351
15,315
133,181
19,223
17,094
111,061
137,822
1,384
1,138
16,135
16,629
18,895,493
189
1,464
1,464
16,135
18,070,829
181
1,598,850
16
16
16
1,222
1,222
16,629
11,574,029
116
14,499
14,499
10,787
10,787
1,677,802
16
16
139,998
1
1,648
1,649
1,250
1,250
1,138
13,416
1,406
173
138,894
124,089
14,469
14,044
1,996
12,547
1,464
1,250
1,222
19,223
17,429
17,271
14,542
17,271
10,788
13,940
13,773
1,014
10,840
133
1,649
1.0
11
124.2
1,087,422
1,113,600
1,003,038
164,234
173,531
186,275
13,353
1,113,600
13,997
1,624
1,244
19,985
19,985
13,416
19,985
13.4
1,911
1,364
195
11,805
190.0
186.4
1.00
1.75
10
1.00
1.75
138.1
13.3
1.15
1.25
148,953
158,453
1,008
153,409
162,445
131,602
153,596
131,789
153,953
153,409
10.4
13.3
14.6
1.0
11.5
11.5
1,000,000,000
100,000,000
10.17
1,117,364
14.4
100.0
1,332
16
1,030
18,515
17,339
12,506,550
17.79
13.32
17.78
15.23
15.07
1,769,150
19.65
1,996,916
16.46
198,510
13.81
16.76
14.31
13.21
12.21
14.98
14.98
147,500
11.29
147,500
11.29
139,998
11.78
1.3
181,061
152,721
10.67
10.67
1.8
1,245
1,861
1,122
1,005
13
107
171
160
1,225
1,097
1,085
1,124
133
101
106
18
1,418
1,380
111,060
1
11
111,061
1,127
1,006
1,072
1,384
127,525
11,369
138,894
137,822
1,384
11,974
10,652
1
106,568
1,617
11
1,236
1.1
1.8
1,675
1,204
1,209
1.1
172
1.0
1,163
1
1.4
137,822
124.1
1,384
124.1
121
18
1
1,014
104,567
15,507
15,284
1,595
153,270
120,571
120,571
149,734
149,734
1
10.8
1.4
1.1
117.0
120.6
1,369
1,710
151
1,369
1.7
15
124.2
1
131.1
115
122
1,138
16,135
16,629
1,014
10,541,798
11,609,982
18,106,782
147,500
14,963,639
12.9
17.3
120,571
117,035
120,571
1,005
173
115
1,005
We found 120 numbers that start with the digit 2. Here they are:
262,447
21,807
2,378
29,194
262,447
21,055
24,725
25,432
21,396
22,120
23,502
26,761
22,118
25,623
2,885,156
29
29
2,850
2,850
22,118
25,623
26,761
29,194
26,761
22,118
273
252
2,979
20,086
244
2,287
2,287
20,231
254
284
2,822
2,850
25,995
2,729
228
257
216
236
25
25
27
26,178
23,100
21,700
24,374
24,287
25,040
21,830
29,503
26,967
23,377
26,015
2,979
2.00
2.75
2.00
2.75
2
21,807
22,164
25
25
2.4
2.9
272
2,439,257
2,050,523
228,788
23.1
2.74
2.46
2,465
2,465
28,340
28,340
207
202
23,513
23,502
23,323
21.0
21.0
21.0
29.7
2.8
2,429
2.2
2,098
2
237
2
212
220
24
275
224
228
257
29,603
2,030
224
2,812
2,030
2.5
2.4
2
26,761
22,118
25,623
26,761
25,747
28,340
21,767,555
25,503
29
We found 111 numbers that start with the digit 3. Here they are:
367.1
3,711
3,590
383,831
34,746
308,679
33,354
383,831
388,149
321,437
39,924
31
39
31
3,394
3,394
3,721
3,721
30,384
30,384
32,735
32,751
3,285,762
33
3,285,762
33
30,014
30,014
33,354
30,331
34,083
353
3,915
340
340
3,721
3,610
322
309
358
378,730
388,149
3,166
388,149
3,210
303
303
303
303
380
3,296
3,590
33,102
3,590
3.0
37
3,590
3.0
357
33.5
38.0
3.9
3,234,894
32.9
3,234,894
3
30,014
32,463
317
30,331
34,083
3,026
3,875
33,073
30,331
34,083
3,290,092
3,632,433
3,206,157
3,583,550
32.1
31.1
39,705
31
322
3.77
3.93
38
370
3
3.4
3.7
399
3,398
322
3,593
3,536
3,285,762
3.2
3.5
3.6
3
31
39
31
39
3,206,157
3,632,433
3,285,762
3,536
3,272
4's 5's 6's
We found 106 numbers that start with the digit 4. Here they are:
46,876
43,266
4,477
47,739
47,739
4,814
413,025
483,825
480,310
4,160
48,610
46,232
428,073
42,725
4,872
463
40,420
46
45,573,416
45,573,416
43,650,634
437
465,523
482,142
40,420
47,360,454
474
48,610
46,232
4,214
4,214
4,352,258
43
47,535
47,578
483,825
480,310
497
49,284
4,194
45,872
400
4,214
47,269
43,266
46,876
43,266
465
49
41
49
46
43,500
47,739
47,739
47,739
47,739
47,739
47,739
400
47,739
47,739
40
43
45.6
4.6
4.4
4
4.0
45.0
45.0
4.4
4,894,121
410,853
4,510,396
42,170
43
4.45
415
465
466
463
463
4,936
4
4
421
4,648
4
4.9
4
463
4
4,795
47.0
46.1
47.0
47
40,420
45,573,416
45,573,416
46
4,510,396
4,510,396
497
43
We found 82 numbers that start with the digit 5. Here they are:
56,207,408
56.2
55.5
562
555
50
507,640
505,933
56,359
57,018
56,555
5,489
56,244,357
53,043,576
53,043,576
53,234
53,321
56,555
511,613
522,562
5,489
55,456,104
555
507,640
505,933
56,207,408
562
56,555
53,321
5
500
500
52
540
59
56
53
5,988
53,087
50.0
5,000
5,000
544
544
5
50
5
50,000,000
5.5
50.0
50.0
52,646
588
53,321
5,345
5,441
53,321
5
50.6
5
5.42
5
5.05
57,010
57,018
5
5.1
547
5.9
5.9
530
565
56,555
5,489
56,244,357
53,043,576
53,043,576
56,244,357
537
575
5
537
We found 47 numbers that start with the digit 6. Here they are:
62,746
66,786,155
6,496,800
65
6,496,800
65
6,308
6,308
695
6,430
6,917
654
6
6,220
672
65,598
654
6,308
61,648
644
66
6.9
658,197
6,430
6.4
6.9
6.08
6
651
6
6,453
6,457,213
6,470,599
6,470,599
60
6,992
6
6.0
66
6,496,800
6.3
631
625
6.9
66,786,155
66,786,155
6,496,800
7's 8's 9's
We found 33 numbers that start with the digit 7. Here they are:
717
7,006
721,131
70,091
755
793
7,006
73
73
7
75
7.0
765
7,921
7
7
7.0
7.0
7,265
7,719
74,700
74,700
7,502
7.18
7.18
796
7.1
7
7
7.6
7.1
7.0
717
We found 58 numbers that start with the digit 8. Here they are:
8,288,267
8,396
8,849
8.3
83
864,704
89,556
821,979
89
89
86,084
824,664
8
824,664
8
87
84,131
854
854
869
869
8,288,267
83
803
89,656
869
854
8,288,267
85
85
85
841,604
864,704
85,696
8,602
864,704
8,855
8,849
8
8
87
8,660
8,654
895
818
8
8
81
8.2
8
8
83
85
85
89
89
87.1
82.7
We found 23 numbers that start with the digit 9. Here they are:
91,094
9,564
946,057
94,425
938
9,500
9,500
9,419
9,284
9.42
965
994
996
918
991
9.6
96.0
93
9
98,897
95,068
91,796
95,068
While the above MAX 10K Filed 2/23/2026 is interesting in isolation, we have found that it is also useful to take a look at older MediaAlpha, Inc. filings processed by our Benford's Law Stocks algorithm, to see how the company's filings "typically look" on a Benford's Law analysis. Below we repeat the 10K Filed 2/23/2026 but instead of the chart comparing against the typical company across our coverage universe, below we show the same chart compared against the typical MAX 10Q and 10K filings that we have processed historically. This is followed by similar charts for each of those historical filings.

10K Filed 2/23/2026
32.9
13.9
12.8
12.3
9.5
5.4
3.8
6.7
2.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 88
XBRL? ✓  [ original filing ]
Total numbers found: 864

■ = Typical MAX range from 5/14/2021 to 2/23/2026
10Q Filed 4/30/2025
35.9
14.6
9.9
12.5
12.2
3.6
3.6
5.7
1.8
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 74
XBRL? ✓  [ original filing ]
Total numbers found: 384

■ = Typical MAX range from 5/14/2021 to 2/23/2026
10Q Filed 8/1/2024
30.9
12.8
13.9
11.2
10.7
5.1
5.8
6.7
3.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 72
XBRL? ✓  [ original filing ]
Total numbers found: 570

■ = Typical MAX range from 5/14/2021 to 2/23/2026
10Q Filed 11/2/2023
28.8
13.7
9.5
15.9
10.2
7.1
5.6
6.2
3.2
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 85
XBRL? ✓  [ original filing ]
Total numbers found: 666

■ = Typical MAX range from 5/14/2021 to 2/23/2026
10K Filed 2/27/2023
28.7
18.3
10.8
11.5
9.5
5.8
6.4
5.1
3.9
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 99
XBRL? ✓  [ original filing ]
Total numbers found: 950

■ = Typical MAX range from 5/14/2021 to 2/23/2026
10Q Filed 5/6/2022
39.1
14.1
8.4
11.2
6.7
6.4
4.8
6.7
2.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 87
XBRL? ✓  [ original filing ]
Total numbers found: 419

■ = Typical MAX range from 5/14/2021 to 2/23/2026
10Q Filed 8/13/2021
34.6
21.6
12.8
8.3
4.9
3.5
6.5
3.9
3.9
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 89
XBRL? ✓  [ original filing ]
Total numbers found: 509

■ = Typical MAX range from 5/14/2021 to 2/23/2026
10Q Filed 10/29/2025
27.8
13.6
12.7
11.6
16.1
5.4
4.6
5.8
2.4
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 77
XBRL? ✓  [ original filing ]
Total numbers found: 670

■ = Typical MAX range from 5/14/2021 to 2/23/2026
10K Filed 2/24/2025
28.9
14.4
9.9
13.0
11.9
6.0
5.6
6.9
3.5
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 75
XBRL? ✓  [ original filing ]
Total numbers found: 810

■ = Typical MAX range from 5/14/2021 to 2/23/2026
10Q Filed 5/2/2024
39.1
12.2
10.6
12.2
9.3
3.9
5.7
4.4
2.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 81
XBRL? ✓  [ original filing ]
Total numbers found: 386

■ = Typical MAX range from 5/14/2021 to 2/23/2026
10Q Filed 8/3/2023
30.1
16.5
11.2
14.6
7.8
4.5
5.7
6.5
3.1
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 82
XBRL? ✓  [ original filing ]
Total numbers found: 617

■ = Typical MAX range from 5/14/2021 to 2/23/2026
10Q Filed 11/4/2022
27.6
15.6
12.1
16.7
8.1
7.8
4.5
4.8
2.7
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 83
XBRL? ✓  [ original filing ]
Total numbers found: 729

■ = Typical MAX range from 5/14/2021 to 2/23/2026
10K Filed 2/28/2022
31.2
17.7
12.3
9.5
8.9
6.1
6.2
3.8
4.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 90
XBRL? ✓  [ original filing ]
Total numbers found: 820

■ = Typical MAX range from 5/14/2021 to 2/23/2026
10Q Filed 5/14/2021
37.0
17.2
14.0
6.3
4.8
4.2
7.1
5.3
4.0
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 82
XBRL? ✓  [ original filing ]
Total numbers found: 378

■ = Typical MAX range from 5/14/2021 to 2/23/2026
10Q Filed 8/6/2025
28.5
14.2
13.0
12.9
15.1
5.3
4.1
5.3
1.5
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 76
XBRL? ✓  [ original filing ]
Total numbers found: 583

■ = Typical MAX range from 5/14/2021 to 2/23/2026
10Q Filed 11/4/2024
31.2
13.8
9.9
11.5
14.6
5.0
5.3
5.2
3.6
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 77
XBRL? ✓  [ original filing ]
Total numbers found: 618

■ = Typical MAX range from 5/14/2021 to 2/23/2026
10K Filed 2/22/2024
26.7
16.8
10.0
11.7
11.4
6.2
6.4
6.6
4.3
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 84
XBRL? ✓  [ original filing ]
Total numbers found: 870

■ = Typical MAX range from 5/14/2021 to 2/23/2026
10Q Filed 5/5/2023
35.2
11.6
7.3
15.9
8.0
4.8
6.6
7.5
3.2
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 62
XBRL? ✓  [ original filing ]
Total numbers found: 440

■ = Typical MAX range from 5/14/2021 to 2/23/2026
10Q Filed 8/5/2022
29.3
19.8
12.8
13.7
7.2
5.5
4.5
4.8
2.5
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 94
XBRL? ✓  [ original filing ]
Total numbers found: 642

■ = Typical MAX range from 5/14/2021 to 2/23/2026
10Q Filed 11/12/2021
29.4
20.2
14.6
10.4
5.9
5.7
5.9
3.7
4.2
 
%1 %2 %3 %4 %5 %6 %7 %8 %9
Benford's Law Stocks Score: 81
XBRL? ✓  [ original filing ]
Total numbers found: 595

■ = Typical MAX range from 5/14/2021 to 2/23/2026
GDC 10Q Filed 4/10/2026:
52
SCLX 10K Filed 4/10/2026:
100
CHPGU 10K Filed 4/10/2026:
61
SLP 10Q Filed 4/10/2026:
78
QNCX 10K Filed 4/10/2026:
79
SOBR 10K Filed 4/10/2026:
49
ASPI 10K Filed 4/10/2026:
100
FGI 10K Filed 4/10/2026:
96
PLCE 10K Filed 4/10/2026:
90
CMLS 10K Filed 4/10/2026:
97
KBH 10Q Filed 4/9/2026:
94
WDFC 10Q Filed 4/9/2026:
96
WS 10Q Filed 4/9/2026:
95
NEOG 10Q Filed 4/9/2026:
96
BB 10K Filed 4/9/2026:
84
IXAQU 10K Filed 4/9/2026:
86
TLYS 10K Filed 4/9/2026:
95
BEEM 10K Filed 4/9/2026:
87
RELL 10Q Filed 4/9/2026:
64
WOR 10Q Filed 4/9/2026:
55
LEN 10Q Filed 4/9/2026:
88
SMPL 10Q Filed 4/9/2026:
90
BYRN 10Q Filed 4/9/2026:
52
NTIC 10Q Filed 4/9/2026:
67
RGP 10Q Filed 4/8/2026:
97
BYND 10K Filed 4/8/2026:
97
ALCYU 10K Filed 4/8/2026:
53
FC 10Q Filed 4/8/2026:
89
APLD 10Q Filed 4/8/2026:
84
DAL 10Q Filed 4/8/2026:
95
AEHR 10Q Filed 4/8/2026:
82
PSMT 10Q Filed 4/8/2026:
100
PCYO 10Q Filed 4/8/2026:
87
GAME 10K Filed 4/8/2026:
91
PPSI 10K Filed 4/8/2026:
82
HSPTU 10K Filed 4/8/2026:
66
BBGI 10K Filed 4/8/2026:
94
VIRC 10K Filed 4/8/2026:
84
RPM 10Q Filed 4/8/2026:
95
CHSCP 10Q Filed 4/8/2026:
96
 

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