Marcus & Millichap Q4 revenue up 1.6% to $244.0 million; EPS $0.34 vs $0.22
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.
Key points
- 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.
The filing
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 February 12, 2026.
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.