Key Points – Strong Q2 recovery: Revenue rose 18% to $203 million, while net income improved to $4 million from an $11 million loss a year earlier.
Adjusted EBITDA increased to $12 million from $1.5 million. – Broad-based transaction growth: Brokerage revenue climbed 18% to $167 million, supported by higher private-client, middle-market and large-deal activity
Financing revenue increased 15% as loan transactions rose 17%, with refinancings making up 47% of quarterly financing revenue. – Cautious but active outlook: Management cited interest-rate volatility and geopolitical and inflation risks as factors extending deal timelines, but said improved liquidity and more realistic pricing are narrowing bid-ask spreads. The company also authorized additional share repurchases, leaving approximately $90 million available, and declared a $0.25 semiannual dividend. Marcus & Millichap (NYSE:MMI) reported second-quarter 2026 revenue growth of 18%, supported by gains across its brokerage and financing operations, as commercial real estate transaction activity improved from prior-year levels.
Total revenue rose to $203 million from $172 million in the second quarter of 2025. Net income was $4 million, or $0.10 per share, compared with a net loss of $11 million, or $0.28 per share, a year earlier. Adjusted EBITDA increased to $12 million from $1.5 million.