MMI

Marcus & Millichap’s first quarter results were shaped by a broad-based recovery in transaction activity and significant momentum in its financing platform. Management highlighted that improved market conditions, narrowing price expectations between buyers and sellers, and the return of more competitive lending options drove a notable increase in both brokerage and financing volumes. CEO Hessam Nadji emphasized, “Brokerage revenue grew nearly 12% year-over-year, while our financing business delivered a stellar 48% increase, demonstrating both the scaling of our capital markets platform and an improving lending environment.” Is now the time to buy MMI? Find out in our full research report (it’s free). Revenue: $171.5 million vs analyst estimates of $162.2 million (18.2% year-on-year growth, 5.7% beat) Adjusted EPS: -$0.08 vs analyst estimates of -$0.08 (in line) Adjusted EBITDA: $2.94 million (1.7% margin, 134% year-on-year growth) Operating Margin: -3.3%, up from -12.6% in the same quarter last year Market Capitalization: $1.11 billion While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Mitch Germain (Citizens Bank) asked whether clients are now less sensitive to interest rate movements. CEO Hessam Nadji clarified that clients remain highly sensitive, but many have adjusted expectations and are motivated to transact despite volatility. Mitch Germain (Citizens Bank) inquired about the growth in the number of active lenders and how that environment has evolved. Nadji explained that the lender network had tightened during 2023-2024 but has since expanded, particularly with the return of banks and credit unions. Mitch Germain (Citizens Bank) questioned the drivers behind the rebound in large transaction activity—specifically whether it was due to hiring or more realistic seller expectations. Nadji responded that both factors contributed, but the main driver was sellers finally accepting realistic pricing after extended negotiations. In upcoming quarters, the StockStory team will monitor (1) whether transaction growth continues as sellers adjust to new price norms, (2) the pace of financing volume expansion as more lenders r...

Interested in Marcus & Millichap, Inc.? Here are five stocks we like better. Revenue and profitability improved sharply in Q1 2026, with Marcus & Millichap revenue up 18% year over year to $171.5 million and adjusted EBITDA turning positive at nearly $3 million from a loss a year ago. The company still posted a net loss, but it was smaller than last year’s. Brokerage activity and financing both accelerated as improving commercial real estate conditions drove more transactions. Brokerage commissions rose 12%, financing revenue jumped 48%, and management said recovery was strongest in private client, office, multifamily and single-tenant retail segments. Cost control and capital returns remained strong, with operating expenses rising slower than revenue and SG&A improving as a percentage of sales. The company ended the quarter with $335 million in cash, no debt, repurchased shares, and authorized an additional $70 million for buybacks. Marcus & Millichap (NYSE:MMI) reported an 18% year-over-year increase in first-quarter 2026 revenue, as management said improving commercial real estate transaction activity, a recovery in its private client business and growth in financing helped the company start the year with stronger momentum. President and Chief Executive Officer Hessam Nadji said the company’s results reflected “improving market conditions” and the effect of more than two years of client outreach, valuation updates and seller consultations that are now converting into transactions. Total revenue rose to $171.5 million from $145 million in the prior-year quarter, which Chief Financial Officer Steve DeGennaro described as the company’s strongest first-quarter revenue growth in four years. → Beyond NVIDIA: Picks-and-Shovels AI Plays with Strong Momentum Adjusted EBITDA improved to nearly $3 million from a loss of nearly $9 million a year earlier. The company still posted a net loss of $3 million, or $0.08 per share, compared with a net loss of $4 million, or $0.11 per share, in the first quarter of 2025. Real estate brokerage commissions totaled $138 million in the quarter, up 12% year over year and representing 81% of total revenue. Marcus & Millichap completed 1,348 brokerage transactions with total volume of $7.9 billion, increases of 15% and 19%, respectively, compared with the prior-year quarter. The average transaction size rose 3% to $5.9 million. → Me...

Image source: The Motley Fool. Thursday, May 7, 2026 at 10:30 a.m. ET President and Chief Executive Officer — Hessam Nadji Chief Financial Officer — Steve DeGennaro Director of Investor Relations — Jacques Cornet Need a quote from a Motley Fool analyst? Email [email protected] Operator: Greetings, and welcome to the Marcus & Millichap First Quarter 2026 Financial Results Conference Call. [Operator Instructions] And as a reminder, this conference call is being recorded. I would now like to turn the conference over to your host, Jacques Cornet. Thank you. You may begin. Jacques Cornet: Thank you, operator. Good morning, and welcome to Marcus & Millichap's First Quarter 2026 Earnings Conference Call. With us today are President and Chief Executive Officer, Hessam Nadji; and Chief Financial Officer, Steve DeGennaro. Before I turn the call over to management, please remember that our prepared remarks and the responses to questions may contain forward-looking statements. Words such as may, will, expect, believe, estimate, anticipate, goal and variations of these words and similar expressions are intended to identify forward-looking statements. Actual results can differ materially from those implied by such forward-looking statements due to a variety of factors, including, but not limited to, general economic conditions and commercial real estate market conditions, the company's ability to retain and attract transactional professionals, the company's ability to retain its business philosophy and partnership culture amid competitive pressures, company's ability to integrate new agents and sustain its growth and other factors discussed in the company's filings, including its Annual Report on Form 10-K filed with the Securities and Exchange Commission on February 26, 2026. Although the company believes the expectations reflected in such forward-looking statements are based upon reasonable assumptions, it can make no assurance that its expectations will be attained. The company undertakes no obligation to update any forward-looking statement, whether as a result of new information, future events or otherwise. In addition, certain financial information presented on this call represents non-GAAP financial measures. The company's earnings release, which was issued this morning and is available on the company's website, represents a reconciliation to the appropriate GAAP measure...

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Revenue growth of 18% was driven by improving market conditions and a robust recovery in the private client business after two years of persistent client outreach. The narrowing bid-ask spread, fueled by more realistic seller price expectations and the return of banks and credit unions, catalyzed a 13% increase in private client brokerage revenue. Office transactions delivered their largest gains in several years, attributed to significant price resets and growing return-to-office mandates improving space demand. The financing division saw a 48% revenue surge, benefiting from a shift toward acquisition financing which now accounts for 61% of originations as the market moves beyond refinancings. Management is pivoting its organic growth strategy toward internship and fellowship channels to produce higher-performing agents with more reliable production metrics. Strategic technology investments are focused on scalable AI agents designed to improve sales force productivity across the entire brokerage service continuum. Second quarter revenue is expected to show continued year-over-year improvement, following normal seasonal patterns where transaction volume builds throughout the year. Management assumes commercial real estate fundamentals will remain healthy as slowing new construction, particularly in industrial and multifamily, makes current assets compelling on a replacement cost basis. The company anticipates that ongoing price recalibration by asset quality will facilitate the transition to a new investment cycle supported by more competitive lender terms. Guidance remains mindful of geopolitical and macroeconomic variables, noting that recent Middle East conflicts caused a temporary cooling of activity. Cost of services for the second quarter is projected to range between 62% and 63.5% of revenue as the business continues to scale. The company maintained a strong balance sheet with $335 million in cash and zero debt, providing flexibility for strategic acquisitions and capital returns. A larger-than-usual seasonal reduction in the sales force occurred due to proactive termination of newer agents who failed to meet performance metrics. SG&A expenses were lower than typical due to the last-minute cancellatio...

Revenue growth of 18.2% in the First Quarter 2026 compared to First Quarter 2025. CALABASAS, Calif., May 07, 2026--(BUSINESS WIRE)--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 services, research and advisory services, reported its first quarter financial results today. First Quarter 2026 Highlights Compared to First Quarter 2025 Total revenue of $171.5 million, an increase of 18.2% compared to $145.0 million Brokerage commissions of $138.1 million, an increase of 11.7% compared to $123.6 million Private Client Market brokerage revenue of $88.1 million, an increase of 13.4% compared to $77.7 million Middle Market and Larger Transaction Market brokerage revenue of $44.6 million, an increase of 9.2% compared to $40.9 million Financing fees of $26.8 million, an increase of 48.1% compared to $18.1 million Pre-tax loss of $2.2 million compared to $13.9 million, an improvement of 84.4% Net loss of $3.1 million, or $0.08 per common share, diluted, compared to a net loss of $4.4 million, or $0.11 per common share, diluted Adjusted EBITDA1 of $2.9 million compared to $(8.7) million, an improvement of 133.7%. "We delivered a strong first quarter, with broad-based growth across the business, reflecting investments in talent, business development and platform expansion as well as improving market conditions," said Hessam Nadji, President and Chief Executive Officer of Marcus & Millichap. "Our Private Client business continued to build momentum while our institutional segment also posted gains as bid/ask spreads narrowed due to gradual price adjustments and improvements in the lending environment. Our financing business had an exceptional quarter as capital availability grew and we leveraged our market leading lender network to achieve revenue growth of 48%." Mr. Nadji continued, "We are encouraged by the improvement we are seeing and the fundamentals supporting continued recovery - driven by more realistic pricing and an increasingly liquid credit environment. Geopolitical developments and energy price volatility have introduced near-term uncertainty, which we are navigating with the same discipline that has served us well through the extended market disruption. Our strong balance sheet and broad capital deployment plan...

CALABASAS, Calif. (AP) — CALABASAS, Calif. (AP) — Marcus & Millichap Inc. (MMI) on Thursday reported a loss of $3.1 million in its first quarter. On a per-share basis, the Calabasas, California-based company said it had a loss of 8 cents. The commercial real estate brokerage firm posted revenue of $171.5 million in the period. _____ This story was generated by Automated Insights (http://automatedinsights.com/ap) using data from Zacks Investment Research. Access a Zacks stock report on MMI at https://www.zacks.com/ap/MMI

CALABASAS, Calif., April 23, 2026--(BUSINESS WIRE)--Marcus & Millichap, Inc. (NYSE: MMI), a leading national brokerage firm specializing in commercial real estate investment sales, financing and research and advisory services, announced today it will report its financial results for the first quarter ended March 31, 2026, on Thursday, May 7, 2026, before the market open. The Company will host a webcast and a conference call the same day to discuss the results at 10:30 a.m. Eastern Time. The call will be hosted by Hessam Nadji, President and Chief Executive Officer and Steve DeGennaro, Chief Financial Officer. WEBCAST INFORMATION A live webcast of the call will be accessible through the Investor Relations section of Marcus & Millichap's website at www.MarcusMillichap.com and will be archived upon completion of the call. The Company encourages use of the webcast due to potential extended wait times to access the conference call via dial-in. For those unable to access the webcast, callers from the United States and Canada should dial 1-877-407-9208 ten minutes prior to the scheduled call time. International callers should dial 1-201-493-6784. REPLAY INFORMATION For those unable to participate during the live broadcast, a telephonic replay of the call will also be available from 2:30 p.m. Eastern Time on Thursday, May 7, 2026 through 11:59 p.m. Eastern Time on Thursday, May 21, 2026 by dialing 1-844-512-2921 in the United States and Canada or 1-412-317-6671 internationally and entering passcode 13759354. About Marcus & Millichap, Inc. Marcus & Millichap, Inc. is a leading national real estate services firm specializing in commercial real estate investment sales, financing services, research and advisory services. As of December 31, 2025, the Company had 1,808 investment sales and financing professionals in more than 80 offices who provide investment brokerage and financing services to sellers and buyers of commercial real estate. The Company also offers market research, consulting and advisory, and leasing services to its clients. Marcus & Millichap, Inc. closed 8,818 transactions in 2025, with a sales volume of $50.8 billion. For additional information, please visit www.MarcusMillichap.com. View source version on businesswire.com: https://www.businesswire.com/news/home/20260423224704/en/ Contacts Investor Relations Contact: Investor Relations InvestorRelations@...

The United States market has recently experienced a notable upswing, climbing 3.6% in the last week and showing a robust 39% increase over the past year, with earnings projected to grow by 16% annually in the coming years. In this favorable environment, growth companies with high insider ownership can be particularly appealing as they often demonstrate strong confidence from those who know the business best and have vested interests in its success. Click here to see the full list of 202 stocks from our Fast Growing US Companies With High Insider Ownership screener. Let's take a closer look at a couple of our picks from the screened companies. Simply Wall St Growth Rating: ★★★★☆☆ Overview: Clearfield, Inc. designs, manufactures, and distributes fiber management, protection, and delivery products globally with a market cap of $415.12 million. Operations: The company's revenue segment is primarily derived from its fiber management, protection, and delivery products, totaling $154.78 million. Insider Ownership: 18.3% Earnings Growth Forecast: 61.1% p.a. Clearfield's insider ownership aligns with its growth prospects, as earnings are forecast to grow significantly at 61.1% annually, outpacing the US market. Despite recent losses, Clearfield became profitable this year and expects net sales between US$160 million and US$170 million for fiscal 2026. Substantial insider buying occurred over the past three months, reflecting confidence in future performance. Recent presentations at major industry events highlight ongoing efforts to strengthen market presence and investor relations. Unlock comprehensive insights into our analysis of Clearfield stock in this growth report. In light of our recent valuation report, it seems possible that Clearfield is trading beyond its estimated value. Simply Wall St Growth Rating: ★★★★★☆ Overview: Alphatec Holdings, Inc. is a medical technology company that focuses on designing and developing technologies for the surgical treatment of spinal disorders, with a market cap of approximately $1.68 billion. Operations: The company generates revenue primarily from its Medical Products segment, which accounted for $764.16 million. Insider Ownership: 10.4% Earnings Growth Forecast: 56.9% p.a. Alphatec Holdings' insider ownership supports its growth trajectory, with earnings projected to grow significantly at 56.89% annually and revenue expected...

Earnings results often indicate what direction a company will take in the months ahead. With Q4 behind us, let’s have a look at Marcus & Millichap (NYSE:MMI) and its peers. The Consumer Discretionary sector, by definition, is made up of companies selling non-essential goods and services. When economic conditions deteriorate or tastes shift, consumers can easily cut back or eliminate these purchases. For long-term investors with five-year holding periods, this creates a structural challenge: the sector is inherently hit-driven, with low switching costs and fickle customers. As a result, only a handful of companies can reliably grow demand and compound earnings over long periods, which is why our bar is high and High Quality ratings are rare. Real estate services companies provide brokerage, property management, appraisal, and advisory services, earning transaction-based commissions and recurring management fees. Tailwinds include long-term housing demand driven by demographic growth, technology platforms that expand market access, and commercial real estate complexity that sustains advisory needs. Headwinds are pronounced: rising interest rates directly suppress transaction volumes by reducing housing affordability and commercial deal activity. Commission-rate compression, driven by discount brokerages and regulatory changes, erodes per-transaction revenue. The industry is highly cyclical, with revenue swings amplified by leverage. PropTech (property technology) disruptors threaten traditional intermediary models. The 14 consumer discretionary - real estate services stocks we track reported a satisfactory Q4. As a group, revenues beat analysts’ consensus estimates by 4.1% while next quarter’s revenue guidance was 14.2% below. Amidst this news, share prices of the companies have had a rough stretch. On average, they are down 10.4% since the latest earnings results. Founded in 1971, Marcus & Millichap (NYSE:MMI) specializes in commercial real estate investment sales, financing, research, and advisory services. Marcus & Millichap reported revenues of $244 million, up 1.6% year on year. This print exceeded analysts’ expectations by 6.3%. Overall, it was a stunning quarter for the company with a beat of analysts’ EPS estimates and a solid beat of analysts’ EBITDA estimates. Interestingly, the stock is up 4.4% since reporting and currently trades at $26.12. Is now...

Marcus & Millichap’s fourth quarter results were met with a positive market reaction, as the company delivered revenue and profitability above Wall Street expectations. Management attributed this performance to a late-quarter surge in deal closings, increased urgency from private clients seeking to utilize tax incentives, and successful outreach efforts across its lender network. CEO Hessam Nadji highlighted the strategic importance of growing the brokerage and financing teams, as well as the company’s resilience despite lacking a boost from lower interest rates. The company’s emphasis on expanding private client and middle market activity was a key driver, with Nadji noting, “A larger-than-expected resurrection and closing of deals that had been delayed or canceled early in the quarter, and a lift in urgency among our private clients... were key factors in the late-stage rally.” Is now the time to buy MMI? Find out in our full research report (it’s free). Revenue: $244 million vs analyst estimates of $229.5 million (1.6% year-on-year growth, 6.3% beat) Adjusted EPS: $0.34 vs analyst estimates of $0.22 (58.1% beat) Adjusted EBITDA: $25.01 million vs analyst estimates of $10.9 million (10.3% margin, significant beat) Operating Margin: 6.3%, up from 3% in the same quarter last year Market Capitalization: $985.2 million While we enjoy listening to the management's commentary, our favorite part of earnings calls are the analyst questions. Those are unscripted and can often highlight topics that management teams would rather avoid or topics where the answer is complicated. Here is what has caught our attention. Blaine Heck (Wells Fargo) asked about the potential for AI to disrupt specific business segments. CEO Hessam Nadji responded that AI will automate many manual tasks but emphasized that broker expertise and client relationships remain crucial, particularly in complex or nuanced transactions. Blaine Heck (Wells Fargo) questioned the sustainability of strong broker headcount growth. Nadji stated that recruitment initiatives began several years ago, and while experienced hires require transition time, management expects further productivity gains in 2026. Blaine Heck (Wells Fargo) inquired about the impact of recent market disruptions and AI fears on acquisition strategy. Nadji explained that market uncertainty previously led to caution, but as stability retur...

This article first appeared on GuruFocus. Total Revenue (Q4 2025): $244 million, a 2% increase from $240 million in Q4 2024. Total Revenue (Full Year 2025): $755 million, up 8.5% from $696 million in 2024. Real Estate Brokerage Commissions (Q4 2025): $205 million, accounting for 84% of quarterly revenue. Real Estate Brokerage Transactions (Q4 2025): 1,902 transactions with a total volume of $11.8 billion. Financing Revenue (Q4 2025): $33 million, a 6% increase from $31 million in Q4 2024. Financing Transactions (Q4 2025): 507 transactions totaling $3.7 billion, a 19% increase year-over-year. Net Income (Q4 2025): $13 million or $0.34 earnings per share, a 55% increase in EPS year-over-year. Net Loss (Full Year 2025): $1.9 million or $0.05 per share, compared to a net loss of $12.4 million or $0.32 per share in 2024. Adjusted EBITDA (Q4 2025): $25 million, up 39% from $18 million in Q4 2024. Cash and Equivalents (End of 2025): $398 million, a $17 million increase over the previous quarter. Dividends and Share Repurchases (2025): $47 million returned to shareholders. Warning! GuruFocus has detected 1 Warning Sign with MMI. Is MMI fairly valued? Test your thesis with our free DCF calculator. Release Date: February 13, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Marcus & Millichap Inc (NYSE:MMI) reported a revenue growth of 8.5% for 2025, with adjusted EBITDA improving significantly to $25 million from $9 million in 2024. The company achieved a 2% increase in fourth-quarter revenue compared to the previous year, despite challenging market conditions. MMI experienced the strongest growth in its sales force in seven years, with nearly 100 net additions of brokerage and financing professionals. The financing business saw a 23% revenue increase in 2025, driven by an expanded team and access to over 420 separate lenders. MMI maintained its market leadership position by transaction count, completing nearly 9,000 transactions totaling over $50 billion in volume in 2025. The segment of larger transactions valued at $20 million or more declined by 13% in 2025, primarily due to a tough comparison to the previous year. Institutional apartment sales eased as the buyer pool for lower-tier assets and secondary markets was limited. The company faced challenges with situational distress in certain markets, impacting...