Marcus & Millichap, Inc. MMI Income Statement

Marcus & millichap, inc. (MMI)

Income statement / Quarterly

Mar'20	Dec'19	Sep'19	Jun'19	Mar'19	Dec'18	Sep'18	Jun'18	Mar'18	Dec'17	Sep'17	Jun'17	Mar'17	Dec'16	Sep'16	Jun'16	Mar'16	Dec'15	Sep'15	Jun'15	Mar'15	Dec'14	Sep'14	Jun'14	Mar'14	Dec'13	Sep'13	Sep'12
Revenues:
Total revenues
190,717	237,908	198,220	209,593	160,707	230,283	210,590	199,402	174,541	202,776	183,341	180,371	153,212	189,157	180,634	183,387	164,272	203,156	165,876	173,482	146,541	172,444	150,889	134,265	114,590	149,101	111,953	91,228
Operating expenses:
Cost of services
113,757	155,196	124,147	127,847	91,688	148,469	132,896	119,869	101,649	131,730	114,803	110,377	89,647	121,637	113,852	113,126	96,153	129,664	102,010	105,557	86,158	109,836	92,269	79,601	68,396	94,242	67,718	54,194
Selling, general and administrative expense
54,860	53,265	48,091	52,836	48,918	47,557	48,659	49,080	48,053	42,255	42,480	43,693	43,220	38,391	40,728	40,420	42,255	38,646	35,646	37,589	35,829	34,704	34,086	32,127	33,357	-	30,863	25,007
Depreciation and amortization expense
2,464	2,343	1,910	1,932	1,832	1,768	1,651	1,503	1,375	1,388	1,375	1,303	1,297	1,223	1,149	1,009	1,006	916	802	807	780	807	813	811	775	-	747	732
Stock-based and other compensation in connection with initial public offering
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	31,300	-	-
Total operating expenses
171,081	210,804	174,148	182,615	142,438	197,794	183,206	170,452	151,077	175,373	158,658	155,373	134,164	161,251	155,729	154,555	139,414	169,226	138,458	143,953	122,767	145,347	127,168	112,539	102,528	-	99,328	79,933
Operating income
19,636	27,104	24,072	26,978	18,269	32,489	27,384	28,950	23,464	27,403	24,683	24,998	19,048	27,906	24,905	28,832	24,858	33,930	27,418	29,529	23,774	27,097	23,721	21,726	12,062	-8,165	12,625	11,295
Other (expense) income, net
-366	3,410	2,573	3,119	3,375	1,273	2,127	1,724	1,209	1,585	1,172	997	836	567	719	618	230	420	-464	362	125	67	-308	330	-61	-	247	41
Interest expense
283	370	329	340	349	346	342	352	360	370	370	374	382	378	380	384	391	377	380	386	583	449	397	401	404	-	-	-
Income before provision for income taxes
18,987	30,144	26,316	29,757	21,295	33,416	29,169	30,322	24,313	28,618	25,485	25,621	19,502	28,095	25,244	29,066	24,697	33,973	26,574	29,505	23,316	26,715	23,016	21,655	11,597	-	12,872	11,336
Provision for income taxes
5,917	9,423	7,024	8,478	5,657	7,191	8,315	8,155	6,302	20,138	10,010	10,052	7,502	10,921	10,100	11,542	9,882	14,024	11,398	11,949	9,647	10,285	9,493	8,859	4,815	-	5,597	4,931
Net income
13,070	20,721	19,292	21,279	15,638	26,225	20,854	22,167	18,011	8,480	15,475	15,569	12,000	17,174	15,144	17,524	14,815	19,949	15,176	17,556	13,669	16,430	13,523	12,796	6,782	-8,716	7,275	6,405
Other comprehensive income (loss):
Change in unrealized (losses) gains
-497	-52	160	856	858	243	-115	-172	-492	-132	104	174	47	-647	-56	426	680	-343	56	-493	188	-	-	-	-	-	-	-
Less: reclassification adjustment for net losses (gains) included in other (expense) income, net
-11	2	23	9	9	1	0	-8	0	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Net change, net of tax of $(168) and $288 for the three months ended March 31, 2020 and 2019, respectively
-486	-54	137	847	849	242	-115	-164	-492	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-
Foreign currency translation gain (loss), net of tax of $0 for each of the three months ended March 31, 2020 and 2019
891	-376	114	-216	-98	333	-29	34	39	2	-40	-23	-2	8	-3	-12	47	529	234	-46	173	75	57	-39	42	-	-	-
Total other comprehensive income
405	-430	251	631	751	575	-144	-130	-453	-130	64	151	45	-729	-59	414	727	186	290	-539	361	99	57	-39	42	-	-	-
Comprehensive income
13,475	20,291	19,543	21,910	16,389	26,800	20,710	22,037	17,558	8,350	15,539	15,720	12,045	16,445	15,085	17,938	15,542	20,135	15,466	17,017	14,030	16,529	13,580	12,757	6,824	-	-	-
Net income
13,070	20,721	19,292	21,279	15,638	26,225	20,854	22,167	18,011	8,480	15,475	15,569	12,000	-	15,144	17,524	-	-	-	-	-	-	13,523	12,796	6,782	-8,716	7,275	6,405
Less: Net loss attributable to Marcus & Millichap Real Estate Investment Services, Inc. prior to initial public offering on October 31, 2013
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-17,967	-	-
Net income attributable to Marcus & Millichap, Inc. subsequent to initial public offering
-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	-	9,251	-	-
Earnings per share:
Basic
0.33	0.52	0.49	0.54	0.40	0.67	0.53	0.57	0.46	0.21	0.40	0.40	0.31	0.44	0.39	0.45	0.38	0.52	0.39	0.45	0.35	0.42	0.35	0.33	0.17	0.24	-	-
Diluted
0.33	0.52	0.49	0.54	0.40	0.67	0.53	0.56	0.46	0.22	0.39	0.40	0.31	0.44	0.39	0.45	0.38	0.50	0.39	0.45	0.35	0.42	0.35	0.33	0.17	0.24	-	-
Weighted average common shares outstanding:
Basic
39,541	39,469	39,441	39,395	39,311	39,156	39,191	39,154	39,095	38,969	39,033	39,002	38,948	38,848	38,939	38,918	38,891	38,603	38,890	38,870	39,029	38,863	38,847	38,847	38,847	38,787	-	-
Diluted
39,646	39,600	39,550	39,527	39,515	39,413	39,484	39,385	39,250	38,956	39,204	39,132	39,108	39,008	39,122	39,054	38,956	39,279	39,160	39,057	39,152	39,068	39,011	38,926	38,907	38,815	-	-
Real Estate Brokerage Commissions [Member]
Total revenues
171,829	215,541	180,198	188,680	144,937	211,210	191,980	181,640	162,525	177,324	169,357	162,575	140,137	172,743	165,695	170,118	153,664	186,218	151,942	160,221	134,193	156,705	140,220	123,278	104,748	-	101,757	82,620
Financing Fees [Member]
Total revenues
15,351	18,806	16,013	17,742	13,732	16,583	15,947	15,563	9,724	15,522	11,368	12,709	10,054	12,665	11,320	10,726	8,733	12,512	10,865	11,150	8,031	11,533	7,864	8,384	6,100	-	6,783	5,195
Other Revenues [Member]
Total revenues
3,537	3,561	2,009	3,171	2,038	2,490	2,663	2,199	2,292	9,930	2,616	5,087	3,021	3,749	3,619	2,543	1,875	4,426	3,069	2,111	4,317	4,206	2,805	2,603	3,742	-	3,413	3,413