Business Wire·May 7, 2026, 8:00 AM ET

Marcus & Millichap, Inc. Reports Preliminary Results for First Quarter 2026

MMI

Marcus & Millichap, Inc. reported First Quarter 2026 total revenue of $171.5 million, an 18.2% increase compared to $145.0 million in the same period of 2025.
Brokerage commissions reached $138.1 million, a 11.7% increase from $123.6 million in Q1 2025.
Private Client Market brokerage revenue grew 13.4% to $88.1 million, while Middle Market & Larger Transaction Market revenue increased 9.2% to $44.6 million.
Financing fees surged 48.1% to $26.8 million, driven by a 60.1% increase in total financing volume.
The company reported a net loss of $3.1 million ($0.08 per diluted share), an improvement from a $4.4 million loss ($0.11 per diluted share) in Q1 2025.
Adjusted EBITDA turned positive at $2.9 million, compared to a loss of $8.7 million in the prior year, representing a 133.7% improvement.
Total operating expenses rose to $177.2 million from $162.7 million, primarily due to a $15.3 million increase in cost of services.
Selling, general, \& administrative expenses remained stable at $71.2 million compared to $71.6 million in the prior year.
The Board declared a semi-annual dividend of $0.25 per share, paid on April 3, 2026, while the company repurchased 895,532 shares for $23.5 million during the quarter.
On April 30, 2026, the Board approved an additional $70 million for the stock repurchase program, leaving approximately $90 million available.
Total real estate sales volume for the quarter was $12.1 billion across 2,022 transactions, including $7.9 billion in brokerage volume.
The company maintains a strong balance sheet with $136.5 million in cash, cash equivalents, \& restricted cash as of March 31, 2026.
Business outlook remains positive for long-term growth despite near-term uncertainties regarding interest rates, inflation, \& geopolitical factors expected to extend through 2026.