Company: MMI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001578732-25-000040
Chunk: 96

Company: Marcus & Millichap, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 96
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 months ended June 30, 2024, the Company earned real estate brokerage commissions and financing fees of $290,000 and $1,020,000, respectively, from transactions with subsidiaries of MMC related to these services. For the three and six months ended June 30, 2024, the Company incurred cost of services of  $168,000 and $610,000, respectively, related to this revenue. Operating Lease with MMC The Company has an operating lease with MMC for a single-story office building located in Palo Alto, California, which expires in May 2032. The related operating lease cost was $290,000 for both the three months ended June 30, 2025 and 2024, and $581,000 for both the six months ended June 30, 2025 and 2024. Operating lease cost is included in selling, general and administrative expense in the accompanying condensed consolidated statements of operations. The related operating lease right-of-use asset, net and operating lease liability as of June 30, 2025 was $6.6 million and $7.3 million, respectively and as of December 31, 2024 was $7.0 million and $7.6 million, respectively.  Amounts due to (from) MMC As of June 30, 2025 and December 31, 2024, the Company recorded a net receivable of $2,800 and net payable of $1,000 with MMC, respectively. These amounts are included in other assets, current and accounts payable and accrued expenses, respectively, in the accompanying condensed consolidated balance sheets.Other The Company makes advances to non-executive employees from time-to-time. At June 30, 2025 and December 31, 2024, the aggregate principal amount for employee notes receivable was $176,000 and $116,000, respectively, which is 

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

included in other assets in the accompanying condensed consolidated balance sheets. See Note 5 – “Selected Balance Sheet Data”. 

As of June 30, 2025, George M. Marcus, the Company’s founder and Chairman, beneficially owned approximately 38% of the Company’s issued and outstanding common stock, including shares owned by Phoenix Investments Holdings, LLC and the Marcus Family Foundation II. 

7.    Fair Value Measurements 

U.S.