Marcus & Millichap Swings to Q4 Net Loss of $10.2 Million on 36.7% Revenue Drop
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.
Key points
- 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.
The filing
Written by AI on Nov 8, 2026, 6:59 AM ET, from this filing 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 February 15, 2024.
Briefs are written by AI from the filing text and can contain mistakes — open the filing before acting on anything. Impact (1-5) and tone are the AI's reading of the filing for shareholders, not a price forecast. Not investment advice.