Inferra AI / Company / MMI
Marcus & Millichap, Inc.
MMI · Real Estate
Last earnings Aug 6, 2026
Key results
Revenuequarter
8.8%
REPORTS RESULTS FOR SECOND QUARTER 2025 Revenue growth of 8.8% in the Second Quarter 2025 compared to Second Quarter 2024 Provision for income taxes of $7.3 million primarily related to a change in tax methodology resulted in net loss of $11.0 million CALABASAS, Calif.
SEC original ↗Marcus & Millichap, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Total revenuequarter
$172.3 million
Total revenue of $172.3 million, compared to $158.4 million Brokerage commissions of $141.4 million, compared to $135.4 million Private Client Market brokerage
SEC original ↗Marcus & Millichap, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
revenue of $93.5 million, compared to $84.8 million Middle Market and Larger Transaction Market brokerage
SEC original ↗Marcus & Millichap, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
revenue of $42.3 million, compared to $45.3 million, after significant year-over-year growth in the prior four quarters Financing fees of $26.3 million, compared to $18.3 million Loss before provision for income taxes of $3.7 million, compared to $3.4 million.
SEC original ↗Marcus & Millichap, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Total revenue of $317.3 million, compared to $287.5 million Brokerage commissions of $265.0 million, compared to $244.9 million Private Client Market brokerage
SEC original ↗Marcus & Millichap, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
revenue of $171.2 million, compared to $158.0 million Middle Market and Larger Transaction Market brokerage
SEC original ↗Marcus & Millichap, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
revenue of $83.1 million, compared to $76.8 million Financing fees of $44.4 million, compared to $32.7 million Net loss of $15.5 million, or $0.40 per common share, diluted, compared to net loss of $15.5 million, or $0.40 per common share, diluted Adjusted EBITDA 1 of $(7.3) million
SEC original ↗Marcus & Millichap, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Decline in larger transactions comes after a rapid recovery in the segment averaging 38% year-over-year revenue growth in the past four quarters creating a tough comparison.
SEC original ↗Marcus & Millichap, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
AI analysis
Q2 2025 · reported Aug 7, 2025
Based on: Earnings release + parent 8-K + 10-Q — transcript not held
Headline figures
| Metric | Q2 2025 | Prior qtr | Year ago |
|---|---|---|---|
| Revenue | 8.8% | — | — |
| Total revenue | $172.3 million | — | — |
Guidance · company-stated
No guidance located in the held release
“Page 3 SPECIAL NOTE REGARDING FORWARD-LOOKING STATEMENTS This release includes forward-looking statements, including our expectations regarding the long-term outlook of the commercial real estate transaction market, and our positioning within it, our belief relating to the Company s long-term growth, our assessment of the key factors influencing the Company s business outlook, including the expectation for future interest rate cuts or rising inflation and likely impact of such cuts or inflation on commercial real estate demand, and the execution of our capital return program, including a semi-annual dividend and stock repurchase program.”
Capital allocation
Capital Allocation On July 31, 2025, the Board of Directors declared a semi-annual regular dividend of $0.25 per share, or approximately $10.2 million, with a payment date of October 6, 2025, to stockholders of record at the close of business on September 15, 2025.
Event summary
Marcus & Millichap, Inc. — Earnings release (2025-08-07)
Based on: Earnings release + parent 8-K + 10-Q — transcript not held
Guidance & outlook
No guidance located in the held release
Capital allocation
Capital Allocation On July 31, 2025, the Board of Directors declared a semi-annual regular dividend of $0.25 per share, or approximately $10.2 million, with a payment date of October 6, 2025, to stockholders of record at the close of business on September 15, 2025.
SEC original ↗Marcus & Millichap, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Page 2 During the six months ended June 30, 2025, the Company repurchased 242,821 shares of common stock at an average price of $30.47 per share for a total price of $7.4 million.
SEC original ↗Marcus & Millichap, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Since August 2022, the Company has repurchased 2,384,243 shares of common stock at an average price of $32.06 per share for a total price of $76.4 million.
SEC original ↗Marcus & Millichap, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
After accounting for shares repurchased through August 4, 2025, Marcus Millichap has approximately $63.6 million available to repurchase shares under its share repurchase program.
SEC original ↗Marcus & Millichap, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
No time limit has been established for the completion of the share repurchase program, and the repurchases are expected to be executed from time-to-time, through open market purchases or privately negotiated transactions, including through Rule 10b5-1 plans, subject to general business and market conditions and other investment opportunities.
SEC original ↗Marcus & Millichap, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Key factors that may influence the Company s business during the remainder of 2025 include Volatility in transactional activity and investor sentiment driven by The elevated and still volatile cost of debt capital Interest rate uncertainty, the potential for rising inflation and the heightened bid-ask spread between buyers and sellers Risks of a potential recession and its unfavorable impact to commercial real estate space demand Possible impact to market sentiment related to the new U.
SEC original ↗Marcus & Millichap, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Strategy & priorities
We continue to prioritize operational efficiency, strategic investment in our platform, and long-term value creation for our clients and shareholders as we navigate this evolving environment.
SEC original ↗Marcus & Millichap, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Concentrations of Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk principally consist of cash, cash equivalents, and restricted cash, investments in marketable debt securities, available-for-sale, investments in strategic alliance partners (included under prepaid expenses and other assets, current and other assets, non-current), security deposits (included under other assets, non-current), and commissions receivable, net.
SEC original ↗Marcus & Millichap, Inc. — 10-Q Quarterly report10-QAug 6, 2026
In September 2021, the Company entered into a strategic alliance ( Strategic Alliance ) with M&T Realty Capital Corporation ( MTRCC ) pursuant to which the Company provides loan opportunities that may be funded through MTRCC s Delegated Underwriting and Servicing Agreement ( DUS Agreement ) with the Federal National Mortgage Association ( Fannie Mae ) that requires MTRCC to guarantee a portion of each loan funded.
SEC original ↗Marcus & Millichap, Inc. — 10-Q Quarterly report10-QAug 6, 2026
Loan Performance Fees - For loans originated through the Strategic Alliance with MTRCC, the Company receives variable consideration in the form of loan performance fees based on a portion of the servicing fees expected to be received by MTRCC under the servicing contract for servicing the loan.
SEC original ↗Marcus & Millichap, Inc. — 10-Q Quarterly report10-QAug 6, 2026
Guarantee Obligations - For certain loans originated through the Strategic Alliance with MTRCC, the Company may agree, at its option, to indemnify MTRCC for a portion of MTRCC s obligations for loans sold to Fannie Mae.
SEC original ↗Marcus & Millichap, Inc. — 10-Q Quarterly report10-QAug 6, 2026
Risks & headwinds
Business Outlook Notwithstanding the ongoing price discovery and wider than normal bid ask spreads, the commercial real estate transaction market is poised to overcome the near-term challenges which are currently expected to extend through 2025.
SEC original ↗Marcus & Millichap, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Key factors that may influence the Company s business during the remainder of 2025 include Volatility in transactional activity and investor sentiment driven by The elevated and still volatile cost of debt capital Interest rate uncertainty, the potential for rising inflation and the heightened bid-ask spread between buyers and sellers Risks of a potential recession and its unfavorable impact to commercial real estate space demand Possible impact to market sentiment related to the new U.
SEC original ↗Marcus & Millichap, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Forward-looking statements are based on information available at the time those statements are made and or management s good faith belief as of that time with respect to future events and are subject to risks and uncertainties that could cause actual performance or results to differ materially from those expressed in or suggested by the forward-looking statements.
SEC original ↗Marcus & Millichap, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
In light of these risks and uncertainties, the forward-looking events and circumstances discussed in this release may not occur and actual results could differ materially from those anticipated or implied in the forward-looking statements.
SEC original ↗Marcus & Millichap, Inc. — Earnings release (8-K exhibit)EX-99Aug 7, 2025
Legal Proceedings 44 Item 1A.
SEC original ↗Marcus & Millichap, Inc. — 10-Q Quarterly report10-QAug 6, 2026
Competitors
Competitors & peers
Same GICS sector — classification peers, not declared competitors
Filings
25 documents- Q2 2026
- 8-KMMI
- 10-QMMI
- Q1 2026
- 8-KMMI
- 10-QMMI
- 8-KMMI
- Q4 2025
- 10-KMMI
Feb 26, 2026
- 8-KMMI
Feb 13, 2026
- Q3 2025
- 8-KMMI
- 10-QMMI
- Q2 2025
- 8-KMMI
- 10-QMMI
- Q1 2025
- 8-KMMI
- 8-KMMI
- 10-QMMI
- 8-KMMI
Apr 30, 2025
- Q4 2024
- 8-KMMI
Mar 27, 2025
- 10-KMMI
Feb 27, 2025
- 8-KMMI
Feb 14, 2025
- 8-KMMI
- Q3 2024
- 8-KMMI
- 10-QMMI
- Q2 2024
- 8-KMMI
- 10-QMMI
- Q1 2024
- 8-KMMI
- 10-QMMI
Earnings releases
10 documentsPresentations
0 documentsNo presentations for Marcus & Millichap, Inc. are held in this edition of the library.
Transcripts
0 documentsNo transcripts for Marcus & Millichap, Inc. are held in this edition of the library.
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