Benzinga | Jul 9, 2021 10:52AM EDT

MediaAlpha Announces CFO Departure; Reiterates Q2, FY21 Financial Guidance

* Tigran Sinanyan will resign as MediaAlpha Inc's (NYSE:MAX) CFO effective October 1, 2021.

* He aims to pursue a general management role with a privately-held company.

* MediaAlpha has initiated a search for a new CFO.

* Sinanyan will continue to serve as the CFO and assist in the transition over the next three months.

* Outlook: MediaAlpha today reaffirmed its Q2 and FY21 financial guidance. It still sees Q2 revenue of $156 million to $161 million, versus consensus of $158.68 million; FY21 revenue of $680 million to $710 million, versus consensus of $696.29 million.

* Adjusted EBITDA forecast of $14.5 million to $15.5 million for Q2 and $65 million to $67 million for FY21 was also confirmed.

* Price action: MAX shares traded lower by 1.42% at $36.80 on the last check Friday.