You can use three points on a conic to define a projective basis for points on that conic, and with respect to that parametrization the property you look for holds true.
A conic can be defined as the set of points which see four given points at a certain cross-ratio, i.e. the lines joining a generic point on the conic to the designated four points will have the same cross ratio for all points on the conic. In this sense a conic defined by five points $P_1$ through $P_5$ can be defined as
$$\{P\mid(P_1,P_2;P_3,P_4)_P=(P_1,P_2;P_3,P_4)_{P_5}\}$$
or in words, the point $P$ sees $P_1$ through $P_4$ under the same cross ratio as $P_5$ does. In a way, $P_1$ through $P_3$ establish a projective basis on the conic. The position of $P_4$ with respect to that basis is a constant, which can be used as the parameter to describe $P_4$ with respect to the basis and the conic. In this sense a parameter $t$ describes a point $Q_t$ on the conic like this:
$$(P_1,P_2;P_3,Q_t)_{P_4}=t=(P_1,P_2;P_3,Q_t)_{P_5}$$
In case you are not familiar with this cross-ratio notation, here is the same expressed in terms of $3\times3$ determinants written as $[\ldots]$ brackets:
$$\frac{[P_1,P_3,P_4][P_2,Q_t,P_4]}{[P_2,P_3,P_4][P_1,Q_t,P_4]}=t=
\frac{[P_1,P_3,P_5][P_2,Q_t,P_5]}{[P_2,P_3,P_5][P_1,Q_t,P_5]}$$
You can also rewrite the left side as
$$[P_1,P_3,P_4]\langle P_2\times P_4, Q_t\rangle
=t[P_2,P_3,P_4]\langle P_1\times P_4, Q_t\rangle$$
and then
$$\langle([P_1,P_3,P_4]P_2-t[P_2,P_3,P_4]P_1)\times P_4, Q_t\rangle=0$$
which is the condition for $Q_t$ to lie on a certain line, the coordinates of which are linear in $t$. So if you have two such equations, one for the left half and one for the right half of the conditions above, then you are in fact intersecting two lines, both of them linear in $t$. The intersection of two lines can be computed using the cross product, so the result will be quadratic in $t$. And if you do all of the computations with $t$ as a symbolic parameter, you will end up with polynomials in $t$ which you can write as a matrix.
Note that $P_1$ itself corresponds to $t=\infty$. From a topological point of view, you cannot have a bijective map between the real line you use for your parameters and conics which are topological circles. You have to cut the conic at some point, or use homogeneous parametrization, i.e. something of the form
$$\begin{bmatrix}x_1\\x_2\\x_3\end{bmatrix}=
A\begin{bmatrix}u^2\\tu\\t^2\end{bmatrix}\qquad (t,u)\neq(0,0)$$