{"schema_version":"secwatch.filing_event.v1","accession":"0001578732-23-000044","form_type":"8-K","ticker":"MMI","cik":"0001578732","company_name":"Marcus & Millichap, Inc.","filed_at":"2023-11-03T23:59:59+00:00","discovered_at":"2026-05-14T18:03:29.614428+00:00","generated_at":"2026-06-08T22:25:03.193214+00:00","sec_items":["2.02","9.01"],"event_type":"earnings","sentiment":"negative","materiality_score":0.75,"calibrated_materiality_score":0.75,"confidence":"high","headline":"Marcus & Millichap Q3 net loss $9.2M vs. prior year net income $21.4M; revenue down 50%","bullets":["Total revenue $162.0M, down 50.0% YoY from $323.8M; brokerage commissions fell 52.3% to $139.8M.","Net loss of $9.2M ($0.24 loss per diluted share) vs. net income of $21.4M ($0.53 EPS) in Q3 2022.","Adjusted EBITDA of ($6.6)M, down from $36.6M a year ago; operating expenses decreased but not enough.","Private Client Market brokerage revenue $91.5M (-44.7%); Middle Market & Larger Transaction $42.8M (-64.3%).","Company repurchased 1.1M shares at avg $31.28 in first nine months; $71.5M remaining in buyback program."],"urls":{"canonical":"https://secwatch.observer/filing/0001578732-23-000044","json":"https://secwatch.observer/filing/0001578732-23-000044.json","markdown":"https://secwatch.observer/filing/0001578732-23-000044.md","text":"https://secwatch.observer/filing/0001578732-23-000044.txt","edgar_index":"https://www.sec.gov/Archives/edgar/data/1578732/000157873223000044/0001578732-23-000044-index.htm","edgar_primary_document":"https://www.sec.gov/Archives/edgar/data/1578732/000157873223000044/mmi-20231103.htm"},"model":{"generated_by":"deepseek-v4-flash:cloud@v2","generated_at":"2026-06-08T22:25:03.193214+00:00"},"review":{"review_status":"machine_generated","human_reviewed":false,"corrected":false,"correction_note":null,"correction_timestamp":null,"superseded_by":null,"related_filings":[]},"source_grounded_claims":[{"claim_id":"1ac0ebede7618a49c39f110a43b34592ac8b4d8c","claim":"Marcus & Millichap, Inc. reported third quarter ended September 30, 2023 results: revenue $162.0 million, net income $9.2 million, EPS $0.24 per common share, diluted.","evidence_excerpt":"• Total revenue of $162.0 million, compared to $323.8 million • Brokerage commissions of $139.8 million, compared to $292.9 million • Private Client Market brokerage revenue of $91.5 million, compared to $165.5 million • Middle Market and Larger Transaction Market brokerage revenue of $42.8 million, compared to $120.1 million • Financing fees of $17.3 million, compared to $28.1 million • Net loss of $9.2 million, or $0.24 per common share, diluted, compared to net income of $21.4 million, or $0.53 per common share, diluted","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1578732/000157873223000044/0001578732-23-000044-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"third quarter ended September 30, 2023"},{"label":"Revenue","value":"$162.0 million"},{"label":"Net income","value":"$9.2 million"},{"label":"EPS","value":"$0.24 per common share, diluted"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"},{"claim_id":"c5881f0dd151ae8c4aac479e571ea5463794affe","claim":"Marcus & Millichap, Inc. reported nine months ended September 30, 2023 results: revenue $479.7 million, net income $23.8 million, EPS $0.61 per common share, diluted.","evidence_excerpt":"• Total revenue of $479.7 million, compared to $1.0 billion • Brokerage commissions of $415.2 million, compared to $934.5 million • Private Client Market brokerage revenue of $278.2 million, compared to $536.4 million • Middle Market and Larger Transaction Market brokerage revenue of $121.8 million, compared to $378.3 million • Financing fees of $51.0 million, compared to $91.4 million • Net loss of $23.8 million, or $0.61 per common share, diluted, compared to net income of $96.3 million, or $2.39 per common share, diluted","evidence_source":"SEC 8-K Item 2.02","evidence_url":"https://www.sec.gov/Archives/edgar/data/1578732/000157873223000044/0001578732-23-000044-index.htm","confidence":0.9,"family_label":"Earnings Releases","details":[{"label":"Period","value":"nine months ended September 30, 2023"},{"label":"Revenue","value":"$479.7 million"},{"label":"Net income","value":"$23.8 million"},{"label":"EPS","value":"$0.61 per common share, diluted"},{"label":"Result","value":"reported results"}],"fact_type":"earnings_release"}],"license":"Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer"}