Marcus & Millichap Q2 revenue up 8.8% to $172.3 million; net loss $11.0 million
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.
Key points
- 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.
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 August 07, 2025.
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.