Q2 2025 Marcus & Millichap Inc Earnings Call Transcript

Aug 7, 2025 / 02:30 PM GMT

Release Date Price: $28.74 (-10.83%)

Transcript 10-Q8-K

Key Points

Positve

Total revenue for the second quarter was $172 million, representing approximately 9% growth year over year.
Brokerage revenue grew 4%, while financing revenue posted an impressive 44% gain over the second quarter of 2024.
The company's private client brokerage business reflected revenue and transaction growth of 10.3% and 12% respectively.
Marcus & Millichap's auction division sold 273 transactions over the past 12 months, accounting for 27% of all commercially auctioned assets in the US.
The company is well-capitalized with no debt and $333 million in cash equivalents and marketable securities.

Negative

Revenue from larger transactions valued at $20 million and above declined by nearly 12% for the quarter.
The company reported a net loss of $11 million for the quarter, or $0.28 per share, compared to a net loss of $5.5 million or $0.14 per share for the prior year.
The average commission rate decreased due to an increase in larger, more complex deals closed in the quarter.
SG&A expenses for the quarter were flat sequentially with Q1 at $72 million, reflecting one-time expenses related to reorganization and contingent consideration.
The company experienced a 7% reduction in the average commission rate despite a 12% growth in transaction volume.

Refinitiv StreetEvents Event Transcript
E D I T E D V E R S I O N

MMI.N - Marcus & Millichap Inc
Q2 2025 Marcus & Millichap Inc Earnings Call
Aug 07, 2025 / 02:30PM GMT

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Presentation
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Unidentified_1 [1]
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Greetings and welcome to the Marcus and Millichap 2nd quarter 2025 earnings conference call.

As a reminder, this call is being recorded. I would now like to turn the conference over to your house to your host Jacques Cornet.

Thank you. You may begin.

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Unidentified_2 [2]
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Thank you, operator. Good morning and welcome to Marcus and Millichap's 2nd quarter 2025 earnings conference call.

With us today are President and Chief Executive Officer Hassam Naji and Chief Financial Officer Steve De Janeiro.

Before I

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