Company: MMI
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050707
Chunk: 32

Company: Marcus & Millichap, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 32
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 Nine Months Ended September 30, 2025Beginning balance$37,597 Additions from acquisitions — Impact of foreign currency translation178 Ending balance$37,775 Estimated amortization expense for intangible assets by year for the next five years and thereafter consisted of the following (in thousands): September 30, 2025Remainder of 2025$440 20261,387 20271,214 20281,210 2029— Thereafter— $4,251 The Company evaluates goodwill for impairment annually in the fourth quarter. In addition to the annual impairment evaluation, the Company evaluates at least quarterly whether events or circumstances have occurred in the period subsequent to the annual impairment testing, which indicate that it is more likely than not an impairment loss has occurred. The Company evaluates its intangible assets that have finite useful lives whenever an event or change in circumstances indicates that the carrying value of the asset may not be recoverable. 

As of September 30, 2025, the Company considered the impact of economic conditions and evaluated its goodwill and intangible assets for impairment testing. The Company estimated the recoverability of the intangible assets by comparing the carrying amount of each asset to the future undiscounted cash flows that the Company expects the asset to generate. The sum of the undiscounted expected future cash flows was greater than the carrying amount of the intangible assets. The Company concluded that as of September 30, 2025, there was no impairment of its intangible assets or goodwill. 

5.    Selected Balance Sheet Data 

Allowances on Advances and LoansAllowance for credit losses for advances and loans as of September 30, 2025 and December 31, 2024 was $1.0 million and $1.2 million, respectively. 

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Table of ContentsMARCUS & MILLICHAP, INC. NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS(Unaudited) 

Other Assets Other assets consisted of the following (in thousands): CurrentNon-CurrentSeptember 30,2025December 31,2024September 30,2025December 31,2024Security deposits$— $— $1,258 $1,300 Employee notes receivable144 28 14 88 Securities, held-to-maturity(1)— — 9,500 9,500 Loan performance fee receivable4,300 3,310 14,169