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AI brief of an SEC Form 8-K · Marcus & Millichap (MMI)

Marcus & Millichap Q3 revenue falls 50.0% to $162.0 million; net loss of $9.2 million

Negative Impact 4 of 5 earnings Written later

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.

Key points

  • 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

The filing

CompanyMarcus & Millichap (MMI)
Form8-K, current report
Filed with the SECNov 2, 2023, 8:45 PM ET
Accession number0001578732-23-000044

Items reported: 2.02 Results of Operations

Read the filing on SEC.gov ↗

Written by AI (Anthropic Claude, claude-haiku-5-5) on Nov 8, 2026, 6:59 AM ET, from the text of the filing and its press-release exhibits only. Written later: this filing was briefed after the fact, when past filings were added to the site, so the brief may be read with hindsight; the filing itself is the record of what was known on November 02, 2023.

Briefs are written by AI from the filing text (each brief's own page names the model) and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the model's reading of the filing for shareholders, not a price forecast. Not investment advice.