--- schema_version: "secwatch.filing_event.v1" accession: "0001578732-24-000025" form_type: "8-K" ticker: "MMI" cik: "0001578732" company_name: "Marcus & Millichap, Inc." filed_at: "2024-05-08T23:59:59+00:00" generated_at: "2026-06-02T10:00:39.687016+00:00" event_type: "earnings" sentiment: "negative" materiality_score: 0.7 calibrated_materiality_score: 0.7 confidence: "high" source: SEC EDGAR --- # Marcus & Millichap Q1 net loss widens to $10M; revenue down 16.6% ## Summary - Net loss of $10.0M ($0.26 diluted) vs $5.8M loss ($0.15) a year ago; revenue $129.1M (-16.6%). - Brokerage commissions $109.5M (-18.9%); financing fees $14.4M (-9.1%). - Adjusted EBITDA negative $10.1M vs negative $7.4M in prior year. - Semi-annual dividend of $0.25 per share declared in Feb, paid April 5. - Board repurchased 16,900 shares in Q1 at avg $32.77; $71.0M remaining under buyback program. ## SEC filing metadata - accession: 0001578732-24-000025 - form_type: 8-K - ticker: MMI - cik: 0001578732 - company_name: Marcus & Millichap, Inc. - filed_at: 2024-05-08T23:59:59+00:00 - event_type: earnings - sentiment: negative - materiality_score: 0.7 - calibrated_materiality_score: 0.7 - confidence: high - sec_items: 2.02, 5.07, 9.01 - EDGAR index: https://www.sec.gov/Archives/edgar/data/1578732/000157873224000025/0001578732-24-000025-index.htm - EDGAR primary document: https://www.sec.gov/Archives/edgar/data/1578732/000157873224000025/mmi-20240508.htm ## Machine-readable alternates - HTML: https://secwatch.observer/filing/0001578732-24-000025 - JSON: https://secwatch.observer/filing/0001578732-24-000025.json - Plain text: https://secwatch.observer/filing/0001578732-24-000025.txt ## Key facts - Earnings Releases Marcus & Millichap, Inc. reported first quarter ended March 31, 2024 results: revenue $129.1 million, net income Net loss of $10.0 million, EPS $0.26 per common share, diluted. - Period: first quarter ended March 31, 2024 - Revenue: $129.1 million - Net income: Net loss of $10.0 million - EPS: $0.26 per common share, diluted - Result: reported results source text: Marcus & Millichap, Inc. (the “Company”, “Marcus & Millichap”, or “MMI”) (NYSE: MMI), a leading national real estate services firm specializing in commercial real estate investment sales, financing, research and advisory services, reported its first quarter results today. First Quarter 2024 Highlights Compared to First Quarter 2023 • Total revenue of $129.1 million, compared to $154.8 million • evidence_url: https://www.sec.gov/Archives/edgar/data/1578732/000157873224000025/0001578732-24-000025-index.htm - Shareholder Votes Marcus & Millichap, Inc. shareholders approved Approval of the Amended and Restated 2013 Omnibus Equity Incentive Plan at the 2024-05-02 meeting. - Proposal: equity plan - Outcome: passed - Meeting: 2024-05-02 source text: Proposal 4: Approval of the Amended and Restated 2013 Omnibus Equity Incentive Plan The Company’s Amended and Restated 2013 Omnibus Equity Incentive Plan was approved by the votes shown below: For Against Abstain Broker Non-Votes 29,565,647 4,936,165 1,937,078 1,249,573 evidence_url: https://www.sec.gov/Archives/edgar/data/1578732/000157873224000025/0001578732-24-000025-index.htm - Shareholder Votes Marcus & Millichap, Inc. shareholders approved Ratification of Appointment of Independent Registered Public Accounting Firm for 2024 at the 2024-05-02 meeting. - Proposal: auditor ratification - Outcome: passed - Meeting: 2024-05-02 source text: Proposal 2: Ratification of Appointment of Independent Registered Public Accounting Firm for 2024 The appointment of Ernst & Young LLP as the Company’s independent registered public accounting firm for 2024 was ratified by the votes shown below: For Against Abstain Broker Non-Votes(1) 37,606,124 67,050 15,289 0 evidence_url: https://www.sec.gov/Archives/edgar/data/1578732/000157873224000025/0001578732-24-000025-index.htm - Shareholder Votes Marcus & Millichap, Inc. shareholders approved Advisory Vote on Executive Compensation at the 2024-05-02 meeting. - Proposal: say on pay - Outcome: passed - Meeting: 2024-05-02 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 25,888,652 10,534,106 16,132 1,249,573 evidence_url: https://www.sec.gov/Archives/edgar/data/1578732/000157873224000025/0001578732-24-000025-index.htm - Shareholder Votes Marcus & Millichap, Inc. shareholders approved Election of Directors (slate includes Collete English Dixon, Lauralee E. Martin, Nicholas F. McClanahan) at the 2024-05-02 meeting. - Proposal: director election - Outcome: passed - Meeting: 2024-05-02 source text: Proposal 1: Election of Directors The following individuals were elected to serve as directors for a three-year term ending with the 2027 Annual Meeting by the votes shown below: For Withheld Broker Non-Votes Collete English Dixon............................................................ 36,128,604 310,286 1,249,573 Lauralee E. Martin................................................................. 35,970,177 468,713 1,249,573 Nicholas F. McClanahan........................................................ 35,870,132 568,758 1,249,573 evidence_url: https://www.sec.gov/Archives/edgar/data/1578732/000157873224000025/0001578732-24-000025-index.htm - Shareholder Votes Marcus & Millichap, Inc. shareholders approved Approval of the Amended and Restated Employee Stock Purchase Plan at the 2024-05-02 meeting. - Proposal: equity plan - Outcome: passed - Meeting: 2024-05-02 source text: Proposal 5: Approval of the Amended and Restated Employee Stock Purchase Plan The Company’s Amended and Restated Employee Stock Purchase Plan was approved by the votes shown below: For Against Abstain Broker Non-Votes 36,418,490 17,546 2,854 1,249,573 evidence_url: https://www.sec.gov/Archives/edgar/data/1578732/000157873224000025/0001578732-24-000025-index.htm This AI-assisted summary is a reading aid. Review the linked SEC EDGAR filing before relying on any specific claim.