Every material Form 8-K Marcus & Millichap has filed with the SEC since November 02, 2023, read and summarized by AI: what happened, the key figures, whether it reads positive or negative for shareholders, and how big a deal it is (impact 1-5). Newest first; each brief links to its own page and to the filing on SEC.gov.
Marcus & Millichap reported third quarter 2026 revenue of $208.4 million, up 7.5% from a year earlier, and net income of $1.0 million, or $0.03 per diluted share, compared with $0.2 million, or $0.01, in the third quarter of 2025. The company said the results are preliminary until it files its Form 10-Q, and it expects near-term challenges in the commercial real estate market to extend through 2026.
Total revenue was $208.4 million versus $193.9 million; brokerage commissions rose 7.4% to $174.1 million, with Middle Market and Larger Transaction Market brokerage revenue up 18.1%.
Adjusted EBITDA was $8.2 million versus $6.9 million; cost of services rose to 64.0% of total revenue, up 160 basis points.
Nine-month revenue was $582.8 million, up 14.0%, and nine-month net income was $1.8 million, or $0.05 per diluted share, compared with a net loss of $15.2 million.
The company repurchased 912,957 shares for $23.9 million in the first nine months and had about $90.1 million remaining under its repurchase program as of November 3, 2026.
Marcus & Millichap reported preliminary second quarter 2026 results, with total revenue up 17.8% to $202.9 million from $172.3 million a year earlier. Net income was $3.9 million, or $0.10 per diluted share, compared with a net loss of $11.0 million, or $0.28 per share, in the second quarter of 2025. The company has not yet filed its Form 10-Q, so the results remain subject to change.
Total revenue rose 17.8% to $202.9 million; real estate brokerage commissions rose 18.1% to $167.0 million.
Net income was $3.9 million, or $0.10 per diluted share, versus a net loss of $11.0 million, or $0.28 per share, a year earlier.
Cost of services rose to 62.4% of total revenue, up 50 basis points, which the company attributed to higher commissions for senior investment sales and financing professionals.
The Board declared a semi-annual dividend of $0.25 per share on July 31, 2026, payable October 6, 2026; about $90.1 million remained under the repurchase program as of August 3, 2026.
Marcus & Millichap reported first quarter 2026 total revenue of $171.5 million, up 18.2% from $145.0 million, and a net loss of $3.1 million, or $0.08 per diluted share, versus a net loss of $4.4 million, or $0.11 per share, a year earlier. The company said the results are preliminary because it has not yet filed its Form 10-Q, and it expects near-term challenges in the commercial real estate transaction market to extend through 2026.
Total revenue $171.5 million, up 18.2% from $145.0 million in Q1 2025
Net loss $3.1 million ($0.08 per diluted share) vs. $4.4 million ($0.11) in Q1 2025
Board approved an additional $70 million for share repurchases on April 30, 2026; about $90 million now available
Results are preliminary and subject to change until the Form 10-Q is filed
Marcus & Millichap reported preliminary fourth quarter and full year 2025 results, with revenue and profit improving from 2024. The results are preliminary because the audit is ongoing and the Form 10-K has not been filed, including work on a valuation allowance for deferred tax assets, so tax and net income figures may change.
Q4 2025 total revenue was $244.0 million, up 1.6% from $240.1 million; diluted EPS was $0.34 vs $0.22 a year earlier.
Full year 2025 revenue was $755.2 million, up 8.5%, and the net loss narrowed to $1.9 million ($0.05 per diluted share) from $12.4 million in 2024.
Full year 2025 Adjusted EBITDA was $24.6 million, up from $9.4 million in 2024.
Tax provision, effective tax rate and net income metrics are preliminary and may be adjusted; the final results will be in the Form 10-K.
Marcus & Millichap reported third quarter 2025 revenue of $193.9 million, up 15.1% from a year earlier, and net income of $0.2 million, or $0.01 per diluted share, compared with a net loss of $5.4 million a year earlier. The result includes a $0.08 per share litigation accrual, and the company says its financial results are preliminary until it files its Form 10-Q.
Total revenue of $193.9 million, up 15.1% from $168.5 million in Q3 2024
Net income of $0.2 million, or $0.01 per diluted share, versus a net loss of $5.4 million, or $0.14 per share, a year earlier; includes a $0.08 per share litigation accrual
Nine-month net loss narrowed to $15.2 million, or $0.39 per diluted share, from $20.9 million, or $0.54 per share
About $59.0 million remained available under the share repurchase program after repurchases through November 4, 2025
Marcus & Millichap reported second quarter 2025 total revenue of $172.3 million, up 8.8% from a year earlier, but a net loss of $11.0 million, or $0.28 per diluted share, compared with a net loss of $5.5 million, or $0.14 per share, in the second quarter of 2024. The loss was widened by a $7.3 million income tax provision, primarily related to a change in tax methodology, and the company said the quarterly results are preliminary because its Form 10-Q has not yet been filed.
Total revenue was $172.3 million versus $158.4 million; brokerage commissions rose 4.4% to $141.4 million and financing fees rose 43.5% to $26.3 million.
Net loss was $11.0 million, or $0.28 per diluted share, versus a net loss of $5.5 million, or $0.14 per share, a year earlier.
The $7.3 million tax provision, primarily tied to a change in tax methodology, accounted for $0.19 of the diluted loss per share.
Middle Market and Larger Transaction Market brokerage revenue fell 6.6%; the Board declared a $0.25 per share dividend payable October 6, 2025.
Marcus & Millichap disclosed an employment agreement with Richard Matricaria, who was named Senior Vice President and Chief Growth Officer effective May 1, 2025, after serving as Chief Operating Officer, Western Division. The agreement sets a $400,000 base salary and a $600,000 bonus target, and it is retroactively effective to May 1, 2025. The filing is a routine executive compensation disclosure and does not report financial results or guidance.
Employment agreement dated June 5, 2025 with Richard Matricaria, effective retroactively to May 1, 2025
Annual base salary of $400,000 and discretionary cash bonus target of $600,000
Eligible for equity grants of up to 50% of the annual bonus amount and a relocation allowance of up to $75,000
Marcus & Millichap reported first-quarter 2025 revenue of $145.0 million, up 12.3% from a year earlier, and a net loss of $4.4 million, or $0.11 per diluted share, compared with a $10.0 million loss, or $0.26 per share, in the first quarter of 2024. The company said near-term market challenges are expected to extend through 2025, and it has not yet filed its quarterly report on Form 10-Q, so the results are preliminary. At its May 1 annual meeting, stockholders re-elected three directors and approved executive compensation, and the company will hold a say-on-pay vote every year.
Revenue rose to $145.0 million from $129.1 million; real estate brokerage commissions rose 12.9% to $123.6 million.
Net loss narrowed to $4.4 million ($0.11 per diluted share) from $10.0 million ($0.26 per diluted share).
Total operating expenses rose to $162.7 million from $149.2 million, and the operating loss narrowed to $17.7 million from $20.1 million.
At the May 1, 2025 annual meeting, George M. Marcus, George T. Shaheen and Don C. Watters were re-elected to terms ending in 2028, and Ernst & Young LLP was ratified as auditor for 2025.
Marcus & Millichap announced a management reorganization effective April 29, 2025, promoting John David Parker to Executive Vice President and Chief Operating Officer overseeing all brokerage operations. Richard Matricaria moves to Senior Vice President and Chief Growth Officer and will no longer be an executive officer, and Greg LaBerge becomes Senior Vice President, Chief Client Officer effective May 1, 2025. The filing does not report financial results or a change to guidance, so its direct financial effect on shareholders is not stated.
John David Parker promoted to Executive Vice President and Chief Operating Officer, overseeing all brokerage operations, effective April 29, 2025
Richard Matricaria named Senior Vice President and Chief Growth Officer; he will no longer be an executive officer in this role
Greg LaBerge moves from Chief Administrative Officer to Senior Vice President, Chief Client Officer, effective May 1, 2025, overseeing specialty divisions
Marcus & Millichap said its Chief Accounting Officer, Kurt Schwarz, is retiring, effective March 24, 2025, and will remain an employee until April 18, 2025. The company said his departure is not related to any financial or accounting operations, policies or practices, and that there were no disagreements with the company. Fabrice De Bosschère, the company's First Vice President and Corporate Controller, was appointed acting Chief Accounting Officer effective March 25, 2025, pending formal board appointment effective May 1, 2025.
Kurt Schwarz resigned as Chief Accounting Officer and Principal Accounting Officer, effective March 24, 2025.
Fabrice De Bosschère, 48, has been First Vice President, Corporate Controller since January 2022.
De Bosschère will receive an annual base salary of $300,000 and a target annual cash bonus of $125,000.
Board formal appointment of De Bosschère is effective May 1, 2025.
Marcus & Millichap reported fourth quarter 2024 revenue of $240.1 million, up 44.4% from $166.2 million a year earlier, and net income of $8.5 million, or $0.22 per diluted share, compared with a net loss of $10.2 million in the prior-year quarter. For full year 2024, revenue rose 7.8% to $696.1 million and the net loss narrowed to $12.4 million from $34.0 million, but the company said its results are preliminary until it files its Form 10-K.
Q4 2024 total revenue was $240.1 million versus $166.2 million; brokerage commissions were $202.8 million versus $144.6 million.
Full year 2024 net loss was $12.4 million, or $0.32 per diluted share, compared with a net loss of $34.0 million, or $0.88, in 2023.
Management said near-term challenges are expected to extend through the first half of 2025, with about $70.5 million remaining under the share repurchase program.
The company has not yet filed its Form 10-K for 2024, so all reported results are subject to change.
Marcus & Millichap reported third quarter 2024 results on November 8, 2024, with total revenue of $168.5 million, up 4.0% from $162.0 million a year earlier. The net loss narrowed to $5.4 million, or $0.14 per diluted share, from $9.2 million, or $0.24 per share, and adjusted EBITDA improved to approximately breakeven. The company said long-term interest rate volatility and pricing gaps between buyers and sellers will likely keep transaction timelines extended, and it did not give numeric guidance.
Q3 2024 total revenue of $168.5 million, up from $162.0 million; brokerage commissions rose to $142.0 million from $139.8 million
Q3 2024 net loss of $5.4 million, or $0.14 per diluted share, versus a net loss of $9.2 million, or $0.24 per share, in Q3 2023
Adjusted EBITDA increased by $6.6 million to approximately breakeven for the quarter
Nine-month revenue fell to $456.0 million from $479.7 million, and nine-month net loss was $20.9 million, or $0.54 per share; results are preliminary until the Form 10-Q is filed
Marcus & Millichap reported second-quarter 2024 results, with total revenue down 2.8% to $158.4 million while its net loss narrowed to $5.5 million from $8.7 million a year earlier. The company said these results are preliminary until it files its Form 10-Q, and it declared a semi-annual dividend of $0.25 per share, or about $10.2 million.
Q2 2024 total revenue was $158.4 million, down from $162.9 million, a decrease of 2.8%.
Net loss was $5.5 million, or $0.14 per diluted share, versus $8.7 million, or $0.23 per diluted share, a year earlier.
Real estate brokerage commissions fell 3.5% to $135.4 million, as total sales volume decreased 4.9%.
The Board declared a $0.25 per share dividend on August 1, 2024, payable October 4, 2024, with about $71.0 million left under the repurchase program.
Marcus & Millichap reported first-quarter 2024 total revenue of $129.1 million, down 16.6% from $154.8 million a year earlier, and a net loss of $10.0 million, or $0.26 per diluted share, compared with a net loss of $5.8 million, or $0.15 per share. The company attributed the decline to fewer transactions in a challenging market, and it has not yet filed its Form 10-Q, so the results are preliminary.
Brokerage commissions fell 18.9% to $109.5 million, primarily on a 13.8% decrease in the number of transactions.
Net loss was $10.0 million, or $0.26 per diluted share, versus $5.8 million, or $0.15 per diluted share, in the first quarter of 2023.
Adjusted EBITDA was $(10.1) million, compared with $(7.4) million a year earlier.
At the May 2, 2024 annual meeting, the say-on-pay proposal passed with 25,888,652 votes for and 10,534,106 against.
Marcus & Millichap reported a fourth-quarter 2023 net loss of $10.2 million, or $0.27 per diluted share, compared with net income of $7.9 million a year earlier, as total revenue fell 36.7% to $166.2 million. For the full year, the company posted a net loss of $34.0 million, or $0.88 per diluted share, against net income of $104.2 million in 2022, and management said the near-term challenges are expected to extend through the first half of 2024.
Q4 2023 total revenue was $166.2 million, down from $262.4 million; brokerage commissions fell 38.7% to $144.6 million.
Full-year 2023 revenue was $645.9 million, down 50.4% from $1,301.7 million, and adjusted EBITDA was $(19.6) million versus $165.5 million in 2022.
In 2023 the company paid $20.4 million in dividends and repurchased shares for $38.9 million, leaving about $71.5 million available under its repurchase program.
The filing says results are preliminary until the Form 10-K is filed, and the company has not yet filed that report.
Marcus & Millichap reported third-quarter 2023 revenue of $162.0 million, down 50.0% from $323.8 million a year earlier, and a net loss of $9.2 million, or $0.24 per diluted share, compared with net income of $21.4 million, or $0.53 per share, in the prior-year quarter. The company said the commercial real estate market remains disrupted by higher interest rates and financing constraints, and that growth initiatives such as talent acquisition weighed on earnings.
Total revenue $162.0 million versus $323.8 million; real estate brokerage commissions $139.8 million versus $292.9 million
Net loss $9.2 million, or $0.24 per diluted share, versus net income of $21.4 million, or $0.53 per diluted share
Adjusted EBITDA $(6.6) million versus $36.6 million in Q3 2022
Nine-month net loss $23.8 million, or $0.61 per diluted share, versus net income of $96.3 million, or $2.39 per share
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