Marcus & Millichap Q1 net loss widens to $10.0 million as revenue falls 16.6%
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.
Key points
- 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.
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 May 07, 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.