Company: MMI
Filing Date: 2025-11-07
Form Type: 10-Q
Source: 0001628280-25-050707
Chunk: 14

Company: Marcus & Millichap, Inc.
Filing Date: 2025-11-07
Form: 10-Q
Item: Part I, Item 1
Chunk 14
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Item 1. Financial Statements

MARCUS & MILLICHAP, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except for shares and par value)

September 30, 2025(unaudited)December 31,2024AssetsCurrent assets:Cash, cash equivalents, and restricted cash (restricted cash of $11,036 and $10,678 at September 30, 2025 and December 31, 2024, respectively)$117,360 $153,445 Commissions receivable17,931 18,804 Prepaid expenses8,871 9,311 Income tax receivable6,371 6,030 Marketable debt securities, available-for-sale (amortized cost of $129,413 and $189,667 at September 30, 2025 and December 31, 2024, respectively, and $0 allowance for credit losses)129,420 189,667 Advances and loans, net12,405 17,519 Other assets, current17,449 15,543 Total current assets309,807 410,319 Property and equipment, net24,487 26,139 Operating lease right-of-use assets, net75,257 81,120 Marketable debt securities, available-for-sale (amortized cost of $134,567 and $52,366 at September 30, 2025 and December 31, 2024, respectively, and $0 allowance for credit losses)134,719 51,147 Assets held in rabbi trust13,266 12,191 Deferred tax assets, net48,711 48,080 Goodwill and other intangible assets, net42,026 43,521 Advances and loans, net139,063 173,657 Other assets, non-current25,158 23,626 Total assets$812,494 $869,800 Liabilities and stockholders’ equityCurrent liabilities:Accounts payable and accrued expenses$14,715 $13,737 Deferred compensation and commissions42,192 67,197 Operating lease liabilities19,278 18,522 Accrued bonuses and other employee related expenses18,758 25,485 Other liabilities, current18,243 8,076 Total current liabilities113,186 133,017 Deferred compensation and commissions29,793 33,257 Operating lease liabilities59