---
schema_version: "secwatch.filing_event.v1"
accession: "0001578732-23-000017"
form_type: "8-K"
ticker: "MMI"
cik: "0001578732"
company_name: "Marcus & Millichap, Inc."
filed_at: "2023-05-05T23:59:59+00:00"
generated_at: "2026-06-15T16:45:28.796930+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Marcus & Millichap posts Q1 net loss of $0.15 per share; revenue down 51.5%

## Summary
- Total revenue $154.8M, down 51.5% from record Q1 2022; net loss of $5.8M vs net income $32.8M.
- Brokerage commissions $135.0M, down 52.9%; Private Client revenue -43.8%, Middle Market -67.1%.
- Financing fees $15.9M, down 40.0%; adjusted EBITDA -$7.4M vs +$51.9M in prior year.
- Board added $70M to share repurchase authorization, leaving ~$80M available; semi-annual dividend $0.25 per share.

## SEC filing metadata
- accession: 0001578732-23-000017
- form_type: 8-K
- ticker: MMI
- cik: 0001578732
- company_name: Marcus & Millichap, Inc.
- filed_at: 2023-05-05T23:59:59+00:00
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 5.07, 9.01
- EDGAR index: https://www.sec.gov/Archives/edgar/data/1578732/000157873223000017/0001578732-23-000017-index.htm
- EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1578732/000157873223000017/mmi-20230505.htm

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001578732-23-000017
- JSON: https://secwatch.observer/filing/0001578732-23-000017.json
- Plain text: https://secwatch.observer/filing/0001578732-23-000017.txt

## Key facts
- Earnings Releases
  Marcus & Millichap, Inc. reported first quarter ended March 31, 2023 results: revenue $154.8 million, net income Net loss was $5.8 million, or $0.15 per common share, diluted, EPS $0.15 per common share, diluted.
  - Period: first quarter ended March 31, 2023
  - Revenue: $154.8 million
  - Net income: Net loss was $5.8 million, or $0.15 per common share, diluted
  - EPS: $0.15 per common share, diluted
  - Result: reported results
  source text: sales, financing, research and advisory services, today reported its first quarter results. First Quarter 2023 Highlights Compared to First Quarter 2022 • Total revenue of $154.8 million decreased 51.5%, a tough comparable to a record first quarter 2022 where revenue was up 73.6% compared to first quarter 2021 • Brokerage commissions of $135.0 million, decreased
  evidence_url: https://www.sec.gov/Archives/edgar/data/1578732/000157873223000017/0001578732-23-000017-index.htm
- Shareholder Votes
  Marcus & Millichap, Inc. shareholders approved Election of Directors at the 2023-05-02 meeting.
  - Proposal: director election
  - Outcome: passed
  - Meeting: 2023-05-02
  source text: The following individuals were elected to serve as directors for a three-year term ending with the 2026 Annual Meeting by the votes shown below: For Withheld Broker Non-Votes Hessam Nadji 35,357,703 1,561,352 522,024 Norma J. Lawrence 34,689,172 2,229,883 522,024
  evidence_url: https://www.sec.gov/Archives/edgar/data/1578732/000157873223000017/0001578732-23-000017-index.htm
- Shareholder Votes
  Marcus & Millichap, Inc. shareholders approved Advisory Vote on Executive Compensation at the 2023-05-02 meeting.
  - Proposal: say on pay
  - Outcome: passed
  - Meeting: 2023-05-02
  source text: Proposal 3: Advisory Vote on Executive Compensation The non-binding resolution regarding the compensation paid to the Company’s named executive officers (the “ say-on-pay vote ”) was approved by the votes shown below: For Against Abstain Broker Non-Votes 34,190,487 2,714,380 14,188 522,024
  evidence_url: https://www.sec.gov/Archives/edgar/data/1578732/000157873223000017/0001578732-23-000017-index.htm
- Shareholder Votes
  Marcus & Millichap, Inc. shareholders approved Ratification of Appointment of Independent Registered Public Accounting Firm for 2023 at the 2023-05-02 meeting.
  - Proposal: auditor ratification
  - Outcome: passed
  - Meeting: 2023-05-02
  source text: Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm for 2023 The appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for 2023 was ratified by the votes shown below: For Against Abstain Broker Non-Votes(1) 37,380,502 47,224 13,353 0
  evidence_url: https://www.sec.gov/Archives/edgar/data/1578732/000157873223000017/0001578732-23-000017-index.htm

This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.