secwatch.observer — SEC 8-K summary
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Issuer:     Marcus & Millichap, Inc. (MMI)
CIK:        0001578732
Form:       8-K
Filed at:   2023-08-04T23:59:59+00:00
Accession:  0001578732-23-000025
Event type: earnings
Sentiment:  negative
Materiality: 0.80
Item codes: 2.02, 9.01
LLM model:  deepseek-v4-flash:cloud@v2

Marcus & Millichap Q2 revenue down 58.9% to $162.9M, net loss of $8.7M
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- Total revenue $162.9M (-58.9% YoY); brokerage commissions $140.3M (-60.4% vs record Q2 2022).
- Net loss of $8.7M ($0.23 diluted EPS) vs net income $42.2M ($1.04 EPS) in Q2 2022.
- Adjusted EBITDA of -$1.1M vs $62.9M a year ago; cited widened bid/ask spread and restrictive lending.
- Declared semi-annual dividend $0.25/share payable Oct 6, 2023; repurchased 1.1M shares for $34.4M in H1.
- Investment sales & financing professionals 1,865, down 36 from prior year.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1578732/000157873223000025/0001578732-23-000025-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1578732/000157873223000025/mmi-20230804.htm
  HTML page:      https://secwatch.observer/filing/0001578732-23-000025

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer