Company: MMI
Filing Date: 2025-05-07
Form Type: 10-Q
Source: 0001578732-25-000031
Chunk: 16

Company: Marcus & Millichap, Inc.
Filing Date: 2025-05-07
Form: 10-Q
Item: Part I, Item 1
Chunk 16
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Item 1. Financial Statements

MARCUS & MILLICHAP, INC.

CONDENSED CONSOLIDATED BALANCE SHEETS

(in thousands, except for shares and par value)

March 31, 2025(unaudited)December 31,2024AssetsCurrent assets:Cash, cash equivalents, and restricted cash (restricted cash of $10,675 and $10,678 at March 31, 2025 and December 31, 2024, respectively)$149,704 $153,445 Commissions receivable13,468 18,804 Prepaid expenses7,422 9,311 Income tax receivable6,050 6,030 Marketable debt securities, available-for-sale (amortized cost of $119,432 and $189,667 at March 31, 2025 and December 31, 2024, respectively, and $0 allowance for credit losses)119,381 189,667 Advances and loans, net15,515 17,519 Other assets, current13,563 15,543 Total current assets325,103 410,319 Property and equipment, net24,864 26,139 Operating lease right-of-use assets, net80,712 81,120 Marketable debt securities, available-for-sale (amortized cost of $61,827 and $52,366 at March 31, 2025 and December 31, 2024, respectively, and $0 allowance for credit losses)61,113 51,147 Assets held in rabbi trust11,995 12,191 Deferred tax assets, net57,468 48,080 Goodwill and other intangible assets, net42,966 43,521 Advances and loans, net173,933 173,657 Other assets, non-current23,870 23,626 Total assets$802,024 $869,800 Liabilities and stockholders’ equityCurrent liabilities:Accounts payable and accrued expenses$9,573 $13,737 Deferred compensation and commissions29,523 67,197 Operating lease liabilities18,789 18,522 Accrued bonuses and other employee related expenses10,774 25,485 Other liabilities, current17,588 8,076 Total current liabilities86,247 133,017 Deferred compensation and commissions26,160 33,257 Operating lease liabilities65