For the quarter ending 2026-03-31, MMI had -$25,412K decrease in cash & cash equivalents over the period. -$30,545K in free cash flow.
| Cash Flow | 2026-03-31 | 2025-12-31 | 2025-09-30 | 2025-06-30 |
|---|---|---|---|---|
| Net loss | -3,100 | 13,308 | 240 | -15,457 |
| Depreciation and amortization | 2,391 | 3,353 | 2,743 | 6,002 |
| Non-cash lease expense | 5,182 | 5,331 | 5,310 | 10,687 |
| Credit loss expense (recovery) | -13 | 68 | -603 | 504 |
| Stock-based compensation | 6,616 | 5,858 | 5,966 | 12,402 |
| Deferred taxes, net | 817 | 4,117 | 1,231 | -2,209 |
| Unrealized foreign exchange gains | -92 | 13 | -81 | 176 |
| Net realized gains on marketable debt securities, available-for-sale | 0 | 0 | 0 | 8 |
| Other non-cash items | -556 | -599 | 343 | -2,099 |
| Commissions receivable | -2,005 | -3,234 | 1,237 | -2,440 |
| Prepaid expenses | -515 | 1,553 | 1,134 | -1,574 |
| Advances and loans | -1,343 | 11,012 | -28,736 | -11,344 |
| Other assets | 949 | -1,454 | 2,962 | 889 |
| Accounts payable and accrued expenses | 585 | -4,250 | 3,596 | -2,933 |
| Income tax receivable and payable | - | -4,068 | - | - |
| Income tax receivable | -1,501 | - | 8 | 333 |
| Accrued bonuses and other employee related expenses | -12,851 | 5,114 | 2,832 | -9,507 |
| Deferred compensation and commissions | -26,949 | 20,559 | 7,851 | -35,418 |
| Operating lease liabilities | -4,858 | -4,748 | -4,912 | -10,133 |
| Other liabilities | -113 | 440 | 4,823 | -1,810 |
| Net cash used in operating activities | -27,571 | 46,268 | 52,210 | -31,821 |
| Purchases of marketable debt securities, available-for-sale | 34,392 | 41,935 | 87,120 | 197,928 |
| Proceeds from sales and maturities of marketable debt securities, available-for-sale | 71,196 | 69,719 | 70,241 | 191,176 |
| Purchases of convertible notes | - | 0 | - | - |
| Issuances of employee notes receivable | 50 | 1 | 4 | 100 |
| Payments received on employee notes receivable | 24 | 0 | 0 | 0 |
| Purchase of property and equipment | 2,974 | 2,396 | 2,252 | 3,224 |
| Net cash provided by investing activities | 33,804 | 25,387 | -19,135 | -10,076 |
| Proceeds from issuance of shares pursuant to employee stock purchase plan | - | 380 | 0 | 441 |
| Taxes paid related to net share settlement of stock-based awards | 3,265 | 71 | 812 | 4,976 |
| Principal payments on deferred and contingent consideration | - | 274 | 0 | 1,118 |
| Dividends paid | 775 | 9,795 | 178 | 10,577 |
| Principal payments on stock appreciation rights liability | 2,518 | 0 | 0 | 2,230 |
| Principal payments on contingent consideration | 42 | - | - | - |
| Cash paid for stock repurchases | 24,947 | 17,391 | 577 | 7,398 |
| Net cash used in financing activities | -31,547 | -27,151 | -1,567 | -25,858 |
| Effect of currency exchange rate changes on cash, cash equivalents, and restricted cash | -98 | 57 | -102 | 264 |
| Net decrease in cash, cash equivalents, and restricted cash | -25,412 | 44,561 | 31,406 | -67,491 |
| Cash, cash equivalents, and restricted cash at beginning of period | 161,921 | 117,360 | 153,445 | - |
| Cash, cash equivalents, and restricted cash at end of period | 136,509 | 161,921 | 117,360 | - |
Marcus & Millichap, Inc. (MMI)
Marcus & Millichap, Inc. (MMI)