Company: MMI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001578732-25-000040
Chunk: 124

Company: Marcus & Millichap, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 8
Chunk 124
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)(1.1)%Total revenue172,276 100 158,367 100 13,909 8.8 %Operating expenses:Cost of services106,618 61.9 98,081 61.9 8,537 8.7 %Selling, general and administrative71,550 41.5 65,003 41.1 6,547 10.1 %Depreciation and amortization3,153 1.8 3,329 2.1 (176)(5.3)%Total operating expenses181,321 105.2 166,413 105.1 14,908 9.0 %Operating loss(9,045)(5.2)(8,046)(5.1)(999)12.4 %Other income, net5,498 3.1 4,812 3.0 686 14.3 %Interest expense(200)(0.1)(204)(0.1)4 (2.0)%Loss before benefit for income taxes(3,747)(2.2)(3,438)(2.2)(309)9.0 %Provision for income taxes7,288 4.2 2,100 1.3 5,188 247.0 %Net loss$(11,035)(6.4)%$(5,538)(3.5)%$(5,497)99.3 %Adjusted EBITDA(1)$1,456 0.8 %$1,441 0.9 %$15 1.0 %

(1)Adjusted EBITDA is not a measurement of our financial performance under U.S. GAAP and should not be considered as an alternative to net loss, operating income or any other measures derived in accordance with U.S. GAAP. For a definition of Adjusted EBITDA and a reconciliation of Adjusted EBITDA to net loss, which is the most directly comparable U.S. GAAP financial measure, see “Non-GAAP Financial Measure” below.     

Revenue

Total revenue was $172.3 million for the three months ended June 30, 2025 compared to $158.4 million for the same period in 2024, an increase of $13.9 million, or 8.8%. Total revenue increased as a result of increases in real estate brokerage commissions and financing fees