NYSE$MMI

Marcus & Millichap · Q1 2025 earnings

Q1 2025 earnings · · Before market open · Investor relations

Briefing

Marcus & Millichap reported Q1 2025, revenue of $145M, a net loss of $4.4M, diluted EPS of ($0.11).

For Q1 2025, Marcus & Millichap reported revenue of $145M, a net loss of $4.4M, diluted EPS was ($0.11). The filing highlights segment performance, liquidity, and management commentary on the period.

  • Revenue $145M.
  • Net loss $4.4M.
  • Diluted EPS ($0.11).

Headline financials

Total Revenue

$145M

Previous: $129M+12.3%
EPS (adj)

-$0.11

Previous: -$0.26+57.7%
Total Sales Volume

$9.4B

No prior period
Brokerage Sales Volume

$6.7B

Previous: $5.66B+18.4%
Financing Sales Volume

$1.9B

Previous: $1.66B+14.5%
Investment Sales Professionals

1.6K

No prior period
Financing Professionals

100

No prior period
Avg Transactions per Sales Pro

0.74

Previous: 0.67+10.4%
Avg Commission per Transaction

$105K

Previous: $99.3K+5.9%
Average Commission Rate

1.9%

Previous: 1.9%-3.6%
Avg Brokerage Transaction Size

$5.67M

Previous: $5.14M+10.3%
Avg Transactions per Financing Pro

3.3

Previous: 2.36+39.8%
Avg Fee per Financing Transaction

$42.7K

Previous: $47.2K-9.5%
Average Financing Fee Rate

0.8%

Previous: 0.7%+11.9%
Avg Financing Transaction Size

$5.72M

Previous: $7.09M-19.4%
Capital Expenditures

-$1.49M

Previous: -$2.64M+43.5%
Net Income

-$4.42M

Previous: -$9.99M+55.7%
Operating Income

-$17.7M

Previous: -$20.1M+11.9%

Revenue & EPS history

Marcus & Millichap · Revenue · Quarterly

$145M

Q1 2025+12.3%vs Q1 2024
Beat estimate in 9 of 14 quarters(64%)
ActualEstimate

Revenue by segment

Marcus & Millichap · $163M total across 4 segments · Q1 2021

  • Private Client Market
    $105M
  • Larger Transaction Market
    $30.6M
  • Middle Market
    $20.6M
  • Less than $1 million
    $6.14M

Forward guidance

Management discusses operating priorities, capital allocation, and sector risks in the quarterly filing.

Tailwinds

  • Headline results and segment trends anchor the quarter.
  • Liquidity and balance-sheet capacity support operations.
  • Strategic initiatives outlined in MD&A.

Headwinds

  • Macro, rates, or input costs may pressure margins.
  • One-time items affect year-over-year comparability.
  • Execution risk on growth or restructuring plans.

Historical earnings impact

How earnings announcements have historically affected this stock's price.

Avg. return before/after earnings

Based on 20 quarterly earnings reports · overlaid with Q1 2025

Historical avgQ1 2025

+1.5%

Avg return

Earnings day

-0.1%

Avg return

5 days after

-0.7%

Avg return

30 days after

66%

33 / 50 earnings

Positive

+16.9%

Q1 2015

Best reaction

-29.3%

Q3 2015

Worst reaction

Earnings price reactions
QuarterReport dateReaction (Day 0)+5 days+30 days
Q1 2026+1.2%+3.6%+3.7%
Q4 2025+3.4%+2.9%+1.6%
Q3 2025-0.5%+2.8%-1.9%
Q1 2025+2.6%+4.2%+1.1%
Q4 2024+5.4%+3.6%-7.2%
Q3 2024+4.3%+2.5%+2.4%
Q2 2024-0.5%-5.6%-1.9%
Q1 2024+2.0%+1.0%-8.3%
Q4 2023-3.4%-7.5%-17.4%
Q3 2023+8.7%+3.9%+17.9%
Q2 2023+0.5%-2.8%-9.8%
Q1 2023-4.9%-8.7%-0.0%
Q4 2022-2.2%-1.8%-12.8%
Q3 2022+2.3%-1.9%+7.9%
Q2 2022+0.1%-2.3%-9.4%
Q1 2022-5.2%-9.4%-8.4%
Q4 2021+5.4%+0.4%+3.3%
Q3 2021+6.5%+1.9%-2.4%
Q2 2021-1.1%-1.2%+0.1%
Q1 2021+3.0%-0.1%+6.3%
Q4 2020+4.2%+4.0%-10.4%
Q3 2020+2.1%+10.7%+17.1%
Q2 2020-0.1%+3.0%+8.2%
Q1 2020+9.5%-5.4%+21.2%
Q4 2019+1.0%-9.5%-34.9%
Q3 2019-7.3%-4.1%+1.9%
Q2 2019+10.0%+12.5%+15.7%
Q1 2019-15.1%-18.0%-28.7%
Q4 2018+1.0%-2.3%-4.2%
Q3 2018+5.1%+5.4%-0.8%
Q2 2018-3.0%-3.8%-10.2%
Q1 2018+6.6%+6.0%+9.9%
Q4 2017+9.3%+10.1%+5.9%
Q3 2017+5.5%+3.7%+7.8%
Q2 2017+5.4%-0.6%+0.5%
Q1 2017-3.7%-6.4%-0.7%
Q4 2016-1.0%-2.4%-8.7%
Q3 2016+2.0%+4.4%+18.0%
Q2 2016+5.2%+4.9%-1.7%
Q1 2016+10.5%
Q4 2015+2.9%
Q3 2015-29.3%
Q2 2015-4.3%
Q1 2015+16.9%
Q4 2014-6.1%
Q3 2014+2.1%
Q2 2014+8.2%
Q1 2014+11.0%
Q4 2013-3.0%
Q3 2013+1.6%
Q2 2013
Q1 2013
Q4 2012
Q3 2012

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