Company: MMI
Filing Date: 2025-08-07
Form Type: 10-Q
Source: 0001578732-25-000040
Chunk: 23

Company: Marcus & Millichap, Inc.
Filing Date: 2025-08-07
Form: 10-Q
Item: Part I, Item 1
Chunk 23
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 2024. The Company does not expect the adoption of ASU 2024-02 to have a material impact on its consolidated financial statements and related disclosures.In November 2024, the FASB issued ASU 2024-03 Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40). The new guidance is intended to provide investors enhanced disclosures and requires public entities to disaggregate key expense types. The update is effective for fiscal years beginning after December 15, 2026 and interim periods within fiscal years beginning after December 15, 2027, with early adoption permitted. The disclosure updates are required to be applied prospectively with the option for retrospective application. While the adoption is not expected to have an impact on our consolidated financial statements, it is expected to result in incremental disclosures within the footnotes to our consolidated financial statements.

2.    Property and Equipment, Net 

Property and equipment, net consisted of the following (in thousands): June 30,2025December 31,2024Computer software and hardware equipment$54,362 $52,208 Furniture, fixtures and equipment25,138 24,938 Less: accumulated depreciation and amortization(55,324)(51,007)$24,176 $26,139 Depreciation expense for property and equipment was $2.6 million and $2.3 million for the three months ended June 30, 2025 and 2024, respectively, and $4.9 million and $4.7 million for the six months ended June 30, 2025 and 2024, respectively.

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

3.    Investments in Marketable Debt Securities, Available-for-Sale

Amortized cost, allowance for credit losses, gross unrealized gains (losses) in accumulated other comprehensive income (loss) and fair value of marketable debt securities, available-for-sale, by type of security consisted of the following (in thousands):June 30, 2025AmortizedCostAllowancefor CreditLossesGrossUnrealizedGainsGrossUnrealizedLosses FairValueShort-term investments:U.S. treasuries$21,751 $— $1 $(2)$21,750 U.S. government sponsored entities3,964 —