2024 Q3 Form 10-Q Financial Statement

#000157873224000045 Filed on August 07, 2024

View on sec.gov

Income Statement

Concept 2024 Q3 2024 Q2
Revenue $158.4M
YoY Change -2.76%
Cost Of Revenue $98.08M
YoY Change -3.05%
Gross Profit $60.29M
YoY Change -2.3%
Gross Profit Margin 38.07%
Selling, General & Admin $65.00M
YoY Change -5.67%
% of Gross Profit 107.82%
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $2.300M
YoY Change -33.68%
% of Gross Profit 3.82%
Operating Expenses $166.4M
YoY Change 129.92%
Operating Profit -$8.046M
YoY Change -24.63%
Interest Expense -$204.0K
YoY Change -5.56%
% of Operating Profit
Other Income/Expense, Net $4.812M
YoY Change -1.6%
Pretax Income -$3.438M
YoY Change -42.71%
Income Tax $2.100M
% Of Pretax Income
Net Earnings -$5.538M
YoY Change -36.56%
Net Earnings / Revenue -3.5%
Basic Earnings Per Share -$0.14
Diluted Earnings Per Share -$0.14
COMMON SHARES
Basic Shares Outstanding 38.73M shares 38.68M shares
Diluted Shares Outstanding 38.68M shares

Balance Sheet

Concept 2024 Q3 2024 Q2
SHORT-TERM ASSETS
Cash & Short-Term Investments $281.8M
YoY Change -16.15%
Cash & Equivalents $162.0M
Short-Term Investments $119.8M
Other Short-Term Assets $17.80M
YoY Change -2.33%
Inventory
Prepaid Expenses $7.843M
Receivables
Other Receivables
Total Short-Term Assets $344.0M
YoY Change -9.88%
LONG-TERM ASSETS
Property, Plant & Equipment $27.37M
YoY Change -79.14%
Goodwill $37.87M
YoY Change -0.46%
Intangibles
YoY Change
Long-Term Investments $9.500M
YoY Change -88.28%
Other Assets $15.23M
YoY Change -93.55%
Total Long-Term Assets $481.4M
YoY Change -4.06%
TOTAL ASSETS
Total Short-Term Assets $344.0M
Total Long-Term Assets $481.4M
Total Assets $825.4M
YoY Change -6.57%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $10.04M
YoY Change -15.61%
Accrued Expenses $28.62M
YoY Change -1.06%
Deferred Revenue
YoY Change
Short-Term Debt $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $93.09M
YoY Change 4.51%
LONG-TERM LIABILITIES
Long-Term Debt $0.00
YoY Change
Other Long-Term Liabilities $6.892M
YoY Change -94.72%
Total Long-Term Liabilities $6.892M
YoY Change -94.72%
TOTAL LIABILITIES
Total Short-Term Liabilities $93.09M
Total Long-Term Liabilities $6.892M
Total Liabilities $198.8M
YoY Change -9.49%
SHAREHOLDERS EQUITY
Retained Earnings $466.1M
YoY Change -11.44%
Common Stock $161.9M
YoY Change 15.52%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $626.7M
YoY Change
Total Liabilities & Shareholders Equity $825.4M
YoY Change -6.57%

Cashflow Statement

Concept 2024 Q3 2024 Q2
OPERATING ACTIVITIES
Net Income -$5.538M
YoY Change -36.56%
Depreciation, Depletion And Amortization $2.300M
YoY Change -33.68%
Cash From Operating Activities $851.0K
YoY Change -86.77%
INVESTING ACTIVITIES
Capital Expenditures $1.657M
YoY Change -36.42%
Acquisitions
YoY Change
Other Investing Activities $82.04M
YoY Change -353.37%
Cash From Investing Activities $80.38M
YoY Change -329.76%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities -9.729M
YoY Change -65.69%
NET CHANGE
Cash From Operating Activities 851.0K
Cash From Investing Activities 80.38M
Cash From Financing Activities -9.729M
Net Change In Cash 71.50M
YoY Change -225.64%
FREE CASH FLOW
Cash From Operating Activities $851.0K
Capital Expenditures $1.657M
Free Cash Flow -$806.0K
YoY Change -121.07%

Facts In Submission

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us-gaap Effective Income Tax Rate Reconciliation At Federal Statutory Income Tax Rate
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CY2023Q2 us-gaap Income Tax Reconciliation Change In Deferred Tax Assets Valuation Allowance
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CY2024Q2 mmi Income Tax Reconciliation Permanent And Other Items
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mmi Income Tax Reconciliation Permanent And Other Items
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mmi Effective Income Tax Rate On Permanent And Other Items
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mmi Income Tax Reconciliation Permanent And Other Items
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CY2024Q2 us-gaap Income Tax Expense Benefit
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CY2023Q2 us-gaap Income Tax Expense Benefit
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dei Entity Address Address Line1
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us-gaap Income Loss From Continuing Operations Before Income Taxes Extraordinary Items Noncontrolling Interest
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dei Document Fiscal Period Focus
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dei Document Fiscal Year Focus
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dei Amendment Flag
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false
dei Entity Registrant Name
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MARCUS & MILLICHAP, INC.
dei Entity Incorporation State Country Code
EntityIncorporationStateCountryCode
DE
dei Entity Address State Or Province
EntityAddressStateOrProvince
CA
dei Entity Current Reporting Status
EntityCurrentReportingStatus
Yes
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dei Entity Filer Category
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dei Entity File Number
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us-gaap Interest Expense Nonoperating
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ProceedsFromCollectionOfNotesReceivable
5000 usd
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
4296000 usd
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
58777000 usd
us-gaap Payments Related To Tax Withholding For Share Based Compensation
PaymentsRelatedToTaxWithholdingForShareBasedCompensation
4786000 usd
us-gaap Proceeds From Issuance Of Shares Under Incentive And Share Based Compensation Plans
ProceedsFromIssuanceOfSharesUnderIncentiveAndShareBasedCompensationPlans
424000 usd
us-gaap Payments Of Dividends
PaymentsOfDividends
10337000 usd
mmi Payments On Stock Appreciation Rights
PaymentsOnStockAppreciationRights
1976000 usd
mmi Principal Payments On Deferred And Contingent Consideration
PrincipalPaymentsOnDeferredAndContingentConsideration
0 usd
us-gaap Payments For Repurchase Of Common Stock
PaymentsForRepurchaseOfCommonStock
554000 usd
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-17229000 usd
us-gaap Effect Of Exchange Rate On Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
EffectOfExchangeRateOnCashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
-138000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-8760000 usd
us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents Period Increase Decrease Including Exchange Rate Effect
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalentsPeriodIncreaseDecreaseIncludingExchangeRateEffect
-64653000 usd
CY2023Q4 us-gaap Cash Cash Equivalents Restricted Cash And Restricted Cash Equivalents
CashCashEquivalentsRestrictedCashAndRestrictedCashEquivalents
170753000 usd
us-gaap Interest Paid Net
InterestPaidNet
559000 usd
us-gaap Income Taxes Paid Net
IncomeTaxesPaidNet
425000 usd
mmi Increase Decrease In Employee Related Liabilities Noncash
IncreaseDecreaseInEmployeeRelatedLiabilitiesNoncash
19000 usd
mmi Increase Decrease In Employee Related Liabilities Noncash
IncreaseDecreaseInEmployeeRelatedLiabilitiesNoncash
0 usd
us-gaap Capital Expenditures Incurred But Not Yet Paid
CapitalExpendituresIncurredButNotYetPaid
382000 usd
us-gaap Right Of Use Asset Obtained In Exchange For Operating Lease Liability
RightOfUseAssetObtainedInExchangeForOperatingLeaseLiability
27593000 usd
us-gaap Stock Issued During Period Value Acquisitions
StockIssuedDuringPeriodValueAcquisitions
1833000 usd
mmi Dividends Payable Non Cash Investing And Financing Activity
DividendsPayableNonCashInvestingAndFinancingActivity
430000 usd
mmi Dividends Payable Non Cash Investing And Financing Activity
DividendsPayableNonCashInvestingAndFinancingActivity
467000 usd
mmi Number Of Offices
NumberOfOffices
80 office
mmi Percentage Of Common Stock Distributed
PercentageOfCommonStockDistributed
0.800
us-gaap Use Of Estimates
UseOfEstimates
<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Use of Estimates </span></div>The preparation of the condensed consolidated financial statements in conformity with U.S. GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the related disclosures at the date of the condensed consolidated financial statements and the reported amounts of revenue and expenses during the reporting period. Actual results could differ from those estimates.
us-gaap Concentration Risk Credit Risk
ConcentrationRiskCreditRisk
<div style="margin-top:18pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-style:italic;font-weight:700;line-height:120%">Concentrations of Credit Risk </span></div><div style="margin-top:6pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">Financial instruments that potentially subject the Company to a concentration of credit risk principally consist of cash, cash equivalents, 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 commissions receivable, net. Cash, cash equivalents, and restricted cash are placed with high-credit quality financial institutions and invested in high-credit quality money market funds and commercial paper. Concentrations and ratings of investments in marketable debt securities, available-for-sale are limited by the approved investment policy. </span></div><div style="margin-top:12pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">To reduce its credit risk, the Company monitors the credit standing of the financial institutions and money market funds that represent amounts recorded as cash, cash equivalents, and restricted cash. The Company historically has not experienced any significant losses related to cash, cash equivalents, and restricted cash. </span></div><div style="margin-top:12pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">In September 2021, the Company entered into a Strategic Alliance (“Strategic Alliance”) with M&amp;T Realty Capital Corporation (“MTRCC”) pursuant to which the Company has agreed to provide loan opportunities that may be funded through MTRCC’s Delegated Underwriting and Servicing Agreement (“DUS Agreement”) with the Federal National Mortgage Association (“Fannie Mae”) that requires MTRCC to guarantee a portion of each loan funded. On a loan-by-loan basis, the Company, at its option, can indemnify a portion of MTRCC’s guarantee obligation of loan opportunities presented to and closed by MTRCC through the DUS Agreement. The Company manages and limits the concentration of risk related to the guarantees assumed by monitoring the underlying property type, geographic location, credit of the borrowers, underlying debt service coverage, and loan to value ratios.</span></div><div style="margin-top:12pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">The Company derives its revenue from a broad range of real estate investors, owners, and users in the United States and Canada, none of which individually represents a significant concentration of credit risk. The Company maintains allowances, as needed, for estimated credit losses based on management’s assessment of the likelihood of collection. For the three and six months ended June 30, 2024 and 2023, no transaction represented 10% or more of total revenue. Further, while one or more transactions may represent 10% or more of commissions receivable at any reporting date, amounts due for brokerage and financing transactions are typically collected within 10 days of settlement and, therefore, do not expose the Company to significant credit risk. </span></div><div style="margin-top:12pt;text-indent:22.5pt"><span style="color:#000000;font-family:'Times New Roman',sans-serif;font-size:10pt;font-weight:400;line-height:120%">During the three and six months ended June 30, 2024, the Company’s Canadian operations represented 6.5% and 5.6% of total revenue, respectively. During the three and six months ended June 30, 2023, the Company's Canadian operations represented 3.5% and 3.2% of total revenue, respectively.</span></div>During the three and six months ended June 30, 2024 and 2023, no office represented 10% or more of total revenue.
mmi Period Of Settlement For Receivable Balances
PeriodOfSettlementForReceivableBalances
P10D
us-gaap Guarantee Obligations Liquidation Proceeds Percentage
GuaranteeObligationsLiquidationProceedsPercentage
0.167
CY2024Q2 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
52950000 usd
CY2023Q4 us-gaap Accumulated Depreciation Depletion And Amortization Property Plant And Equipment
AccumulatedDepreciationDepletionAndAmortizationPropertyPlantAndEquipment
48498000 usd
CY2024Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
27366000 usd
CY2023Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
27450000 usd
CY2023Q2 us-gaap Depreciation
Depreciation
2300000 usd
CY2024Q2 us-gaap Depreciation
Depreciation
2300000 usd
us-gaap Depreciation
Depreciation
4700000 usd
us-gaap Depreciation
Depreciation
4300000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
102619000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
171000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
56162000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
2286000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
158781000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
2457000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12Months
56934000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position Less Than12 Months Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPositionLessThan12MonthsAccumulatedLoss
75000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLonger
57509000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Continuous Unrealized Loss Position12 Months Or Longer Accumulated Loss
DebtSecuritiesAvailableForSaleContinuousUnrealizedLossPosition12MonthsOrLongerAccumulatedLoss
2560000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position
DebtSecuritiesAvailableForSaleUnrealizedLossPosition
114443000 usd
CY2023Q4 us-gaap Debt Securities Available For Sale Unrealized Loss Position Accumulated Loss
DebtSecuritiesAvailableForSaleUnrealizedLossPositionAccumulatedLoss
2635000 usd
CY2024Q2 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0 usd
CY2023Q2 us-gaap Debt Securities Available For Sale Realized Gain
DebtSecuritiesAvailableForSaleRealizedGain
0 usd
mmi Available For Sale Securities Weighted Average Maturity
AvailableForSaleSecuritiesWeightedAverageMaturity
P2Y3M18D
CY2024Q2 us-gaap Debt Securities Available For Sale Unrealized Loss Position Number Of Positions
DebtSecuritiesAvailableForSaleUnrealizedLossPositionNumberOfPositions
190 security
CY2024Q2 mmi Available For Sale Securities Continuous Unrealized Loss Positions Accumulated Loss
AvailableForSaleSecuritiesContinuousUnrealizedLossPositionsAccumulatedLoss
2500000 usd
CY2024Q2 mmi Percentage Of Amortized Cost
PercentageOfAmortizedCost
0.01
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
120308000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
119807000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearAmortizedCost
169018000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities Within One Year Fair Value
AvailableForSaleSecuritiesDebtMaturitiesWithinOneYearFairValue
168881000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
35472000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
34686000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsAmortizedCost
48241000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After One Through Five Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterOneThroughFiveYearsFairValue
47200000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
10888000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
10205000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsAmortizedCost
12950000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After Five Through Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterFiveThroughTenYearsFairValue
12279000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
9133000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
8809000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Amortized Cost
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsAmortizedCost
8347000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Maturities After Ten Years Fair Value
AvailableForSaleSecuritiesDebtMaturitiesAfterTenYearsFairValue
7980000 usd
CY2024Q2 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
175801000 usd
CY2024Q2 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
173507000 usd
CY2023Q4 us-gaap Available For Sale Debt Securities Amortized Cost Basis
AvailableForSaleDebtSecuritiesAmortizedCostBasis
238556000 usd
CY2023Q4 us-gaap Available For Sale Securities Debt Securities
AvailableForSaleSecuritiesDebtSecurities
236340000 usd
mmi Available For Sale Securities Weighted Average Maturity
AvailableForSaleSecuritiesWeightedAverageMaturity
P2Y3M18D
CY2023 mmi Available For Sale Securities Weighted Average Maturity
AvailableForSaleSecuritiesWeightedAverageMaturity
P1Y10M24D
us-gaap Number Of Reporting Units
NumberOfReportingUnits
1
CY2024Q2 us-gaap Goodwill Gross
GoodwillGross
37871000 usd
CY2024Q2 us-gaap Goodwill
Goodwill
37871000 usd
CY2023Q4 us-gaap Goodwill Gross
GoodwillGross
38046000 usd
CY2023Q4 us-gaap Goodwill
Goodwill
38046000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
30846000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Gross
FiniteLivedIntangibleAssetsGross
31022000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
13137000 usd
CY2023Q4 mmi Intangible Assets Gross Including Goodwill
IntangibleAssetsGrossIncludingGoodwill
69068000 usd
CY2023Q4 us-gaap Finite Lived Intangible Assets Accumulated Amortization
FiniteLivedIntangibleAssetsAccumulatedAmortization
17885000 usd
CY2023Q4 us-gaap Intangible Assets Net Including Goodwill
IntangibleAssetsNetIncludingGoodwill
51183000 usd
us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P3Y4M24D
CY2023 us-gaap Acquired Finite Lived Intangible Assets Weighted Average Useful Life
AcquiredFiniteLivedIntangibleAssetsWeightedAverageUsefulLife
P3Y9M18D
CY2023Q4 us-gaap Goodwill
Goodwill
38046000 usd
us-gaap Goodwill Acquired During Period
GoodwillAcquiredDuringPeriod
0 usd
us-gaap Goodwill Foreign Currency Translation Gain Loss
GoodwillForeignCurrencyTranslationGainLoss
-175000 usd
CY2024Q2 us-gaap Goodwill
Goodwill
37871000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Remainder Of Fiscal Year
FiniteLivedIntangibleAssetsAmortizationExpenseRemainderOfFiscalYear
2008000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Next Rolling Twelve Months
FiniteLivedIntangibleAssetsAmortizationExpenseNextRollingTwelveMonths
3869000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Two
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearTwo
2156000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Three
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearThree
1856000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense Rolling Year Four
FiniteLivedIntangibleAssetsAmortizationExpenseRollingYearFour
1210000 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Amortization Expense After Year Five
FiniteLivedIntangibleAssetsAmortizationExpenseAfterYearFive
0 usd
CY2024Q2 us-gaap Finite Lived Intangible Assets Net
FiniteLivedIntangibleAssetsNet
11099000 usd
CY2024Q2 mmi Advances And Loans And Commissions Receivable Allowance For Credit Loss
AdvancesAndLoansAndCommissionsReceivableAllowanceForCreditLoss
883000 usd
CY2024Q2 us-gaap Other Assets Current
OtherAssetsCurrent
17795000 usd
CY2023Q4 us-gaap Other Assets Current
OtherAssetsCurrent
16203000 usd
CY2024Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
15226000 usd
CY2023Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
14972000 usd
CY2024Q2 mmi Stock Appreciation Rights Liability Current
StockAppreciationRightsLiabilityCurrent
2603000 usd
CY2023Q4 mmi Stock Appreciation Rights Liability Current
StockAppreciationRightsLiabilityCurrent
2480000 usd
CY2024Q2 mmi Stock Appreciation Rights Liability Noncurrent
StockAppreciationRightsLiabilityNoncurrent
9178000 usd
CY2023Q4 mmi Stock Appreciation Rights Liability Noncurrent
StockAppreciationRightsLiabilityNoncurrent
11418000 usd
CY2024Q2 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
43651000 usd
CY2023Q4 us-gaap Accrued Sales Commission Current
AccruedSalesCommissionCurrent
52689000 usd
CY2024Q2 mmi Accrued Sales Commission Non Current
AccruedSalesCommissionNonCurrent
9742000 usd
CY2023Q4 mmi Accrued Sales Commission Non Current
AccruedSalesCommissionNonCurrent
28198000 usd
CY2024Q2 us-gaap Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
188000 usd
CY2023Q4 us-gaap Deferred Compensation Cash Based Arrangements Liability Current
DeferredCompensationCashBasedArrangementsLiabilityCurrent
201000 usd
CY2024Q2 us-gaap Deferred Compensation Cashbased Arrangements Liability Classified Noncurrent
DeferredCompensationCashbasedArrangementsLiabilityClassifiedNoncurrent
9268000 usd
CY2023Q4 us-gaap Deferred Compensation Cashbased Arrangements Liability Classified Noncurrent
DeferredCompensationCashbasedArrangementsLiabilityClassifiedNoncurrent
8155000 usd
CY2024Q2 us-gaap Other Deferred Compensation Arrangements Liability Current
OtherDeferredCompensationArrangementsLiabilityCurrent
202000 usd
CY2023Q4 us-gaap Other Deferred Compensation Arrangements Liability Current
OtherDeferredCompensationArrangementsLiabilityCurrent
399000 usd
CY2024Q2 us-gaap Other Deferred Compensation Arrangements Liability Classified Noncurrent
OtherDeferredCompensationArrangementsLiabilityClassifiedNoncurrent
0 usd
CY2023Q4 us-gaap Other Deferred Compensation Arrangements Liability Classified Noncurrent
OtherDeferredCompensationArrangementsLiabilityClassifiedNoncurrent
0 usd
CY2024Q2 mmi Deferred Compensation And Commissions Current
DeferredCompensationAndCommissionsCurrent
46644000 usd
CY2023Q4 mmi Deferred Compensation And Commissions Current
DeferredCompensationAndCommissionsCurrent
55769000 usd
CY2024Q2 mmi Deferred Compensation And Commissions Non Current
DeferredCompensationAndCommissionsNonCurrent
28188000 usd
CY2023Q4 mmi Deferred Compensation And Commissions Non Current
DeferredCompensationAndCommissionsNonCurrent
47771000 usd
CY2024Q2 mmi Increase Decrease In Carrying Value Of Assets Held In Rabbi Trust
IncreaseDecreaseInCarryingValueOfAssetsHeldInRabbiTrust
280000 usd
CY2023Q2 mmi Increase Decrease In Carrying Value Of Assets Held In Rabbi Trust
IncreaseDecreaseInCarryingValueOfAssetsHeldInRabbiTrust
472000 usd
mmi Increase Decrease In Carrying Value Of Assets Held In Rabbi Trust
IncreaseDecreaseInCarryingValueOfAssetsHeldInRabbiTrust
969000 usd
mmi Increase Decrease In Carrying Value Of Assets Held In Rabbi Trust
IncreaseDecreaseInCarryingValueOfAssetsHeldInRabbiTrust
930000 usd
CY2024Q2 us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
161000 usd
CY2023Q2 us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
452000 usd
us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
736000 usd
us-gaap Increase Decrease In Deferred Compensation
IncreaseDecreaseInDeferredCompensation
885000 usd
CY2024Q2 mmi Deferred Consideration Liabilities Current
DeferredConsiderationLiabilitiesCurrent
759000 usd
CY2023Q4 mmi Deferred Consideration Liabilities Current
DeferredConsiderationLiabilitiesCurrent
1178000 usd
CY2024Q2 mmi Deferred Consideration Liabilities Noncurrent
DeferredConsiderationLiabilitiesNoncurrent
0 usd
CY2023Q4 mmi Deferred Consideration Liabilities Noncurrent
DeferredConsiderationLiabilitiesNoncurrent
393000 usd
CY2024Q2 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
4703000 usd
CY2023Q4 us-gaap Business Combination Contingent Consideration Liability Current
BusinessCombinationContingentConsiderationLiabilityCurrent
819000 usd
CY2024Q2 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
810000 usd
CY2023Q4 us-gaap Business Combination Contingent Consideration Liability Noncurrent
BusinessCombinationContingentConsiderationLiabilityNoncurrent
4663000 usd
CY2024Q2 us-gaap Dividends Payable Current
DividendsPayableCurrent
832000 usd
CY2023Q4 us-gaap Dividends Payable Current
DividendsPayableCurrent
802000 usd
CY2024Q2 mmi Dividends Payable Non Current
DividendsPayableNonCurrent
1403000 usd
CY2023Q4 mmi Dividends Payable Non Current
DividendsPayableNonCurrent
1680000 usd
CY2023Q4 mmi Loan Guarantee Obligation Current
LoanGuaranteeObligationCurrent
725000 usd
CY2023Q4 mmi Loan Guarantee Obligation Noncurrent
LoanGuaranteeObligationNoncurrent
3194000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Current
OtherAccruedLiabilitiesCurrent
395000 usd
CY2023Q4 us-gaap Other Accrued Liabilities Noncurrent
OtherAccruedLiabilitiesNoncurrent
760000 usd
CY2023Q4 us-gaap Other Liabilities Current
OtherLiabilitiesCurrent
3919000 usd
CY2023Q4 us-gaap Other Liabilities Noncurrent
OtherLiabilitiesNoncurrent
10690000 usd
CY2024Q2 mmi Deferred Consideration Liabilities Current Noncurrent
DeferredConsiderationLiabilitiesCurrentNoncurrent
759000 usd
CY2023Q4 mmi Deferred Consideration Liabilities Current Noncurrent
DeferredConsiderationLiabilitiesCurrentNoncurrent
1571000 usd
CY2024Q2 us-gaap Deferred Compensation Cashbased Arrangements Liability Current And Noncurrent
DeferredCompensationCashbasedArrangementsLiabilityCurrentAndNoncurrent
9456000 usd
CY2023Q4 us-gaap Deferred Compensation Cashbased Arrangements Liability Current And Noncurrent
DeferredCompensationCashbasedArrangementsLiabilityCurrentAndNoncurrent
8356000 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 usd
us-gaap Fair Value Measurement With Unobservable Inputs Reconciliation Recurring Basis Asset Transfers Net
FairValueMeasurementWithUnobservableInputsReconciliationRecurringBasisAssetTransfersNet
0 usd
CY2024Q2 mmi Business Combination Contingent Deferred Consideration Arrangements Range Of Outcomes Value High
BusinessCombinationContingentDeferredConsiderationArrangementsRangeOfOutcomesValueHigh
13200000 usd
CY2023Q4 mmi Business Combination Contingent Deferred Consideration Arrangements Range Of Outcomes Value High
BusinessCombinationContingentDeferredConsiderationArrangementsRangeOfOutcomesValueHigh
14700000 usd
CY2024Q2 us-gaap Fair Value Measurement With Unobservable Inputs Reconciliations Recurring Basis Liability Value
FairValueMeasurementWithUnobservableInputsReconciliationsRecurringBasisLiabilityValue
5513000 usd
CY2024Q2 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
38729323 shares
CY2024Q2 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
38729323 shares
CY2023Q4 us-gaap Common Stock Shares Issued
CommonStockSharesIssued
38412484 shares
CY2023Q4 us-gaap Common Stock Shares Outstanding
CommonStockSharesOutstanding
38412484 shares
CY2023Q4 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q2 us-gaap Common Stock Par Or Stated Value Per Share
CommonStockParOrStatedValuePerShare
0.0001
CY2024Q2 mmi Dividends Payable Non Current
DividendsPayableNonCurrent
1400000 usd
CY2024Q2 us-gaap Preferred Stock Shares Authorized
PreferredStockSharesAuthorized
25000000 shares
CY2024Q2 us-gaap Preferred Stock Par Or Stated Value Per Share
PreferredStockParOrStatedValuePerShare
0.0001
CY2023Q4 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2023Q4 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q2 us-gaap Preferred Stock Shares Issued
PreferredStockSharesIssued
0 shares
CY2024Q2 us-gaap Preferred Stock Shares Outstanding
PreferredStockSharesOutstanding
0 shares
CY2024Q2 us-gaap Undistributed Earnings Of Foreign Subsidiaries
UndistributedEarningsOfForeignSubsidiaries
0 usd
CY2022Q3 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
70000000 usd
CY2023Q2 srt Stock Repurchase Program Authorized Amount1
StockRepurchaseProgramAuthorizedAmount1
70000000 usd
CY2024Q2 us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
0 shares
us-gaap Treasury Stock Shares Retired
TreasuryStockSharesRetired
16900 shares
us-gaap Treasury Stock Retired Cost Method Amount
TreasuryStockRetiredCostMethodAmount
600000 usd
us-gaap Treasury Stock Acquired Average Cost Per Share
TreasuryStockAcquiredAverageCostPerShare
32.77
CY2024Q2 us-gaap Stock Repurchase Program Remaining Authorized Repurchase Amount1
StockRepurchaseProgramRemainingAuthorizedRepurchaseAmount1
71000000.0 usd
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Number Of Shares Available For Grant
ShareBasedCompensationArrangementByShareBasedPaymentAwardNumberOfSharesAvailableForGrant
3033769 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
1999745 shares
CY2023Q4 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
39.90
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Grants In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsGrantsInPeriod
589498 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Options Grants In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardOptionsGrantsInPeriodWeightedAverageGrantDateFairValue
35.72
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriod
432706 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Vested In Period Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsVestedInPeriodWeightedAverageGrantDateFairValue
40.30
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeited In Period
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeitedInPeriod
41994 shares
us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Forfeitures Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsForfeituresWeightedAverageGrantDateFairValue
40.09
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Number
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedNumber
2114543 shares
CY2024Q2 us-gaap Share Based Compensation Arrangement By Share Based Payment Award Equity Instruments Other Than Options Nonvested Weighted Average Grant Date Fair Value
ShareBasedCompensationArrangementByShareBasedPaymentAwardEquityInstrumentsOtherThanOptionsNonvestedWeightedAverageGrantDateFairValue
38.64
CY2024Q2 us-gaap Employee Service Share Based Compensation Nonvested Awards Total Compensation Cost Not Yet Recognized
EmployeeServiceShareBasedCompensationNonvestedAwardsTotalCompensationCostNotYetRecognized
69500000 usd
mmi Unrecognized Compensation Expense Is Expected To Be Recognized Over A Weighted Average Period Years
UnrecognizedCompensationExpenseIsExpectedToBeRecognizedOverAWeightedAveragePeriodYears
P3Y4M17D
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38675000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38538000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38561000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38867000 shares
CY2024Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.14
CY2023Q2 us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.23
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.40
us-gaap Earnings Per Share Basic
EarningsPerShareBasic
-0.37
CY2024Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38675000 shares
CY2023Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38538000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38561000 shares
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
38867000 shares
CY2024Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
us-gaap Incremental Common Shares Attributable To Share Based Payment Arrangements
IncrementalCommonSharesAttributableToShareBasedPaymentArrangements
0 shares
CY2024Q2 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
0 shares
CY2023Q2 us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
0 shares
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
0 shares
us-gaap Incremental Common Shares Attributable To Contingently Issuable Shares
IncrementalCommonSharesAttributableToContingentlyIssuableShares
0 shares
CY2024Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38675000 shares
CY2023Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38538000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38561000 shares
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
38867000 shares
CY2024Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.14
CY2023Q2 us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.23
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.40
us-gaap Earnings Per Share Diluted
EarningsPerShareDiluted
-0.37
CY2024Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1296000 shares
CY2023Q2 us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1887000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1220000 shares
us-gaap Antidilutive Securities Excluded From Computation Of Earnings Per Share Amount
AntidilutiveSecuritiesExcludedFromComputationOfEarningsPerShareAmount
1781000 shares
CY2024Q2 us-gaap Guarantee Obligations Maximum Exposure
GuaranteeObligationsMaximumExposure
194700000 usd
CY2024Q2 mmi Maximum Unpaid Loan Amount For Which Guarantee Obligations Granted
MaximumUnpaidLoanAmountForWhichGuaranteeObligationsGranted
1168300000 usd
CY2024Q2 mmi Guarantor Obligations Allowance For Loss Sharing Obligations
GuarantorObligationsAllowanceForLossSharingObligations
1039000 usd
CY2023Q4 mmi Guarantor Obligations Allowance For Loss Sharing Obligations
GuarantorObligationsAllowanceForLossSharingObligations
851000 usd
CY2024Q2 mmi Guarantor Obligations Amount Pledged
GuarantorObligationsAmountPledged
532000 usd
CY2023Q4 mmi Guarantor Obligations Amount Pledged
GuarantorObligationsAmountPledged
283000 usd
CY2024Q2 us-gaap Other Commitment
OtherCommitment
22500000 usd
CY2024Q2 us-gaap Equity Method Investments
EquityMethodInvestments
9500000 usd
CY2024Q2 ecd Non Rule10b51 Arr Adopted Flag
NonRule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Rule10b51 Arr Adopted Flag
Rule10b51ArrAdoptedFlag
false
CY2024Q2 ecd Non Rule10b51 Arr Trmntd Flag
NonRule10b51ArrTrmntdFlag
false

Files In Submission

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mmi-20240630.htm Edgar Link pending
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mmi-20240630_def.xml Edgar Link unprocessable
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