Company: MMI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001578732-25-000040
Chunk: 16

Company: Marcus & Millichap, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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,525)Adjustments to reconcile net loss to net cash used in operating activities:Depreciation and amortization6,002 6,751 Non-cash lease expense10,687 11,060 Credit loss expense504 205 Stock-based compensation12,402 11,684 Deferred taxes, net(2,209)(2,646)Unrealized foreign exchange (gains) losses(176)35 Net realized gains on marketable debt securities, available-for-sale(8)— Other non-cash items2,099 (480)Changes in operating assets and liabilities:Commissions receivable2,440 145 Prepaid expenses1,574 970 Advances and loans11,344 (17,716)Other assets(889)(1,951)Accounts payable and accrued expenses(2,933)1,602 Income tax receivable(333)(425)Accrued bonuses and other employee related expenses(9,507)(8,336)Deferred compensation and commissions(35,418)(27,216)Operating lease liabilities(10,133)(9,522)Other liabilities(1,810)1,195 Net cash used in operating activities(31,821)(50,170)Cash flows from investing activitiesPurchases of marketable debt securities, available-for-sale(197,928)(68,507)Proceeds from sales and maturities of marketable debt securities, available-for-sale191,176 131,575 Issuances of employee notes receivable(100)— Payments received on employee notes receivable— 5 Purchase of property and equipment(3,224)(4,296)Net cash provided by (used in) investing activities(10,076)58,777 Cash flows from financing activitiesTaxes paid related to net share settlement of stock-based awards(4,976)(4,786)Proceeds from issuance of shares pursuant to employee stock purchase plan441 424 Dividends paid(10,577)(10,337)Principal payments on stock appreciation rights liability(2,230)(1,976)Principal payments on deferred and contingent consideration(1,118)— Cash paid for stock repurchases(7,398)(554)Net cash used in financing activities(25,858)(17,229)Effect of currency exchange rate changes on cash, cash equivalents, and restricted cash264 (138)Net decrease in cash, cash equivalents, and restricted cash(67,491)(