---
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"
generated_at: "2026-06-08T22:25:03.193214+00:00"
event_type: "earnings"
sentiment: "negative"
materiality_score: 0.75
calibrated_materiality_score: 0.75
confidence: "high"
source: SEC EDGAR
---

# Marcus & Millichap Q3 net loss $9.2M vs. prior year net income $21.4M; revenue down 50%

## Summary
- 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.

## SEC filing metadata
- 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
- event_type: earnings
- sentiment: negative
- materiality_score: 0.75
- calibrated_materiality_score: 0.75
- confidence: high
- sec_items: 2.02, 9.01
- 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

## Machine-readable alternates
- HTML: https://secwatch.observer/filing/0001578732-23-000044
- JSON: https://secwatch.observer/filing/0001578732-23-000044.json
- Plain text: https://secwatch.observer/filing/0001578732-23-000044.txt

## Key facts
- Earnings Releases
  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.
  - Period: third quarter ended September 30, 2023
  - Revenue: $162.0 million
  - Net income: $9.2 million
  - EPS: $0.24 per common share, diluted
  - Result: reported results
  source text: • 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_url: https://www.sec.gov/Archives/edgar/data/1578732/000157873223000044/0001578732-23-000044-index.htm
- Earnings Releases
  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.
  - Period: nine months ended September 30, 2023
  - Revenue: $479.7 million
  - Net income: $23.8 million
  - EPS: $0.61 per common share, diluted
  - Result: reported results
  source text: • 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_url: https://www.sec.gov/Archives/edgar/data/1578732/000157873223000044/0001578732-23-000044-index.htm

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