Marcus & Millichap Q1 prelim revenue rises 18%, net loss narrows

Marcus and Millichap

07/05/2026 13:16

Overview

US commercial real estate broker's preliminary Q1 revenue rose 18% year-over-year

Net loss narrowed from prior year as operating losses decreased

Company repurchased $23.5 mln in shares, expanded buyback authorization by $70 mln

Outlook

Company expects commercial real estate market challenges to extend through 2026

Marcus & Millichap cites volatility in debt costs, interest rates, and investor sentiment as key risks

Company says global geopolitical uncertainty may cause investors to refrain from transacting

Result Drivers

SALES VOLUME GROWTH - Co said higher brokerage revenue was primarily driven by an 18.5% increase in total sales volume, partially offset by a lower average commission rate due to a shift toward larger transactions

FINANCING ACTIVITY - Financing fee revenue rose 48% as total financing volume increased 60.1%, though average fee rates declined slightly

MARKET CONDITIONS - Management said improved market conditions, narrowing bid/ask spreads, and greater capital availability supported business growth

Company press release: ID:nBw33m0jka

Key Details

Metric
Beat/Miss
Actual
Consensus Estimate
Q1 Revenue
$171.47 mln
$165 mln (2 Analysts)
Q1 Net Income
-$3.10 mln
Q1 Adjusted EBITDA
$2.90 mln
-$4.70 mln (1 Analyst)
Q1 EBIT
-$5.78 mln
Q1 Operating Expenses
$177.24 mln


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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)