Earnings (Loss) Per Share

9 Months Ended

Sep. 30, 2023

Earnings (Loss) Per Share


	Three Months Ended September 30,				Nine Months Ended September 30,
(in thousands except share data and per share amount)	2023		2022		2023		2022
Basic
Net (loss)	$	(18,698)	$	(21,226)	$	(53,262)	$	(44,096)
Less: net (loss) attributable to non-controlling interest	(5,196)		(6,740)		(15,208)		(13,395)
Net (loss) available for basic common shares	$	(13,502)	$	(14,486)	$	(38,054)	$	(30,701)
Weighted-average shares of Class A common stock outstanding - basic and diluted	46,229,672		42,210,186		45,095,417		41,592,783
(Loss) per share of Class A common stock - basic and diluted	$	(0.29)	$	(0.34)	$	(0.84)	$	(0.74)

Potentially dilutive shares, which are based on the weighted-average shares of underlying unvested QLH restricted Class B-1 units, restricted Class A shares, restricted stock units, and PRSUs using the treasury stock method and the outstanding QLH restricted Class B-1 units using the if-converted method, are included when calculating diluted net loss per share attributable to MediaAlpha, Inc. when their effect is dilutive. The effects 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
	September 30, 2023	September 30, 2022
QLH Class B-1 Units	18,155,446	19,206,446
Restricted Class A Shares	52,573	261,558
Restricted stock units	4,342,036	5,688,174

Potential dilutive shares	22,550,055	25,156,178

The outstanding PRSUs were not included in the potentially dilutive securities as of September 30, 2023 as the performance conditions have not been met.