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

Company: Marcus & Millichap, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 25
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)$780 $(25)$15,378 $(28)U.S. government sponsored entities3,963 (1)428 (55)4,391 (56)Corporate debt87,237 (22)18,348 (644)105,585 (666)ABS and other6,509 (42)3,541 (215)10,050 (257)$112,307 $(68)$23,097 $(939)$135,404 $(1,007)December 31, 2024Less than 12 months 12 months or greater Total FairValueGrossUnrealizedLosses FairValueGrossUnrealizedLosses FairValue(1)GrossUnrealizedLosses U.S. treasuries$— $— $10,050 $(64)$10,050 $(64)U.S. government sponsored entities— — 432 (70)432 (70)Corporate debt15,654 (46)25,520 (1,036)41,174 (1,082)ABS and other6,393 (70)4,333 (264)10,726 (334)$22,047 $(116)$40,335 $(1,434)$62,382 $(1,550)(1)The fair value excludes accrued interest receivable.Gross realized gains and losses from the sales of the Company’s marketable debt securities, available-for-sale, consisted of the following (in thousands): Three Months EndedJune 30,Six Months EndedJune 30,2025202420252024Gross realized gains (1)$— $— $8 $— Gross realized losses (1)$— $— $— $— (1)Recorded in other income, net in the condensed consolidated statements of operations. The cost basis of securities sold were determined based on the specific identification method. The Company invests its excess cash in a diversified portfolio of fixed and variable rate debt securities to meet current and future cash flow needs. All investments are made in accordance with the Company’s approved investment policy. As of June 30, 2025, the portfolio had a weighted average credit rating of AA- and a weighted term to contractual maturity of 5.7 years. As of June 30, 2025, the Company had 140 securities in the portfolio representing an unrealized aggregate loss of $1