马库斯米利查普 2025年季度报告

(Mark One)☒QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE For the quarterly period endedMarch31, 2025OR ☐TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGEACT OF 1934 For the transition period from___________to___________Commission File Number:001-36155 MARCUS & MILLICHAP, INC. (Exact name of registrant as specified in its Charter)__________________________ If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period forcomplying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.o Indicate by check mark whether the registrant is a shell company (as defined in Rule 12b-2 of the Exchange Act). Yes☐No☒ Number of shares of common stock, par value $0.0001 per share, of the registrant issued and outstanding as of May2, 2025 was38,976,875shares. PART I. FINANCIAL INFORMATION Item 1. Financial Statements Condensed Consolidated Balance Sheets as of March 31, 2025 (Unaudited) and December 31, 20243Condensed Consolidated Statements of Operations for the Three Ended March 31, 2025 and 2024 (Unaudited)4Condensed Consolidated Statements of Comprehensive Loss for the Three Months Ended March 31, 2025 and 2024(Unaudited)5Condensed Consolidated Statements of Stockholders’ Equity for the Three Months Ended March 31, 2025 and 2024(Unaudited)6Condensed Consolidated Statements of Cash Flows for the Three Months Ended March 31, 2025 and 2024 (Unaudited)7Notes to Condensed Consolidated Financial Statements (Unaudited)8 MARCUS & MILLICHAP, INC.CONDENSED CONSOLIDATED BALANCE SHEETS MARCUS & MILLICHAP, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS 1.Description of Business, Basis of Presentation and Recent Accounting Pronouncements Description of Business Marcus & Millichap, Inc. (the “Company,” “Marcus & Millichap,” or “MMI”), a Delaware corporation, is a real estate services firmspecializing in commercial real estate investment sales, financing services, research and advisory services. As of March31, 2025, MMIoperates over80offices in the United States and Canada through its wholly-owned subsidiaries, including the operations of Marcus & Reorganization and Initial Public Offering MMI was formed in June 2013 in preparation for the spin-off of Marcus & Millichap Real Estate Investment Services, Inc.(“MMREIS”), the real estate investment services business of Marcus & Millichap Company ("MMC"). Our initial public offering (“IPO”)was completed in November 2013. In connection with our IPO the shareholders of MMREIS contributed their shares of MMREIS to MMI Basis of Presentation The financial information presented in the accompanying unaudited condensed consolidated financial statements, has been prepared inaccordance with rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for Quarterly Reports on Form 10-Q andArticle 10-01 of Regulation S-X. Accordingly, they do not include all of the information and footnotes required by U.S. generally acceptedaccounting principles (“U.S. GAAP”) for complete financial statements. In the opinion of management, the accompanying unauditedcondensed consolidated financial statements and notes include all adjustments (consisting only of normal recurring adjustments) necessaryfor a fair presentation of the condensed consolidated financial position, results of operations and cash flows for the periods presented. These Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-ownedsubsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to makeestimates and assumptions that affect the reported amounts of assets and liabilities, the related disclosures at the date of the condensed Concentrations of Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk principally consist of cash, cashequivalents, and restricted cash, investments in marketable debt securities, available-for-sale, investments in strategic alliance partners(included under other assets, current and non-current), security deposits (included under other assets, non-current), and commissionsreceivable, net. Cash, cash equivalents, and restricted cash are placed with high-credit quality financial institutions and invested in high- Table of Contents MARCUS & MILLICHAP, INC.NOTES TO CONDENSED CONSOLIDATED FINANCIAL STATEMENTS To reduce its credit risk, the Company monitors the credit standing of the financial institutions and money market funds that representamounts recorded as cash, cash equivalents, and restricted cash. The Company historically has not experienced any significant losses related In September 2021,