Company: MMI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001578732-25-000040
Chunk: 10

Company: Marcus & Millichap, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 10
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Item 1. Financial Statements

MARCUS & MILLICHAP, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except for shares and par value)

June 30, 2025(unaudited)December 31,2024AssetsCurrent assets:Cash, cash equivalents, and restricted cash (restricted cash of $10,847 and $10,678 at June 30, 2025 and December 31, 2024, respectively)$85,954 $153,445 Commissions receivable16,897 18,804 Prepaid expenses7,738 9,311 Income tax receivable6,363 6,030 Marketable debt securities, available-for-sale (amortized cost of $136,518 and $189,667 at June 30, 2025 and December 31, 2024, respectively, and $0 allowance for credit losses)136,461 189,667 Advances and loans, net33,764 17,519 Other assets, current14,902 15,543 Total current assets302,079 410,319 Property and equipment, net24,176 26,139 Operating lease right-of-use assets, net79,399 81,120 Marketable debt securities, available-for-sale (amortized cost of $110,275 and $52,366 at June 30, 2025 and December 31, 2024, respectively, and $0 allowance for credit losses)110,206 51,147 Assets held in rabbi trust12,757 12,191 Deferred tax assets, net50,013 48,080 Goodwill and other intangible assets, net42,713 43,521 Advances and loans, net145,940 173,657 Other assets, non-current24,926 23,626 Total assets$792,209 $869,800 Liabilities and stockholders’ equityCurrent liabilities:Accounts payable and accrued expenses$10,910 $13,737 Deferred compensation and commissions37,428 67,197 Operating lease liabilities18,627 18,522 Accrued bonuses and other employee related expenses15,950 25,485 Other liabilities, current4,097 8,076 Total current liabilities87,012 133,017 Deferred compensation and commissions26,318 33,257 Operating lease liabilities63