Marcus & Millichap, Inc. Quarterly report pursuant to Section 13 or 15(d)

Quarterly report pursuant to Section 13 or 15(d)

Loss per Share (Tables)

Loss per Share (Tables)

6 Months Ended

Jun. 30, 2024

Computation of Basic and Diluted Earnings Per Share, Including Antidilutive Securities Excluded from Computation of Earnings Per Share

Basic and diluted loss per share for the three and six months ended June 30, 2024 and 2023, respectively consisted of the following (in thousands, except per share data):


	Three Months Ended June 30,				Six Months Ended June 30,
	2024		2023		2024		2023
Numerator (Basic and Diluted):
Net loss	$	(5,538)	$	(8,729)	$	(15,525)	$	(14,562)
Change in value for stock settled consideration(1)	3		13		24		37
Adjusted net loss	$	(5,535)	$	(8,716)	$	(15,501)	$	(14,525)
Denominator:
Basic
Weighted average common shares issued and outstanding	38,692		38,553		38,578		38,880
Deduct: Unvested RSAs (2)	(17)		(15)		(17)		(13)
Weighted average common shares outstanding	38,675		38,538		38,561		38,867
Basic loss per common share	$	(0.14)	$	(0.23)	$	(0.40)	$	(0.37)
Diluted
Weighted average common shares outstanding from above	38,675		38,538		38,561		38,867
Add: Dilutive effect of RSUs, RSAs & ESPP(3)	—		—		—		—
Add: Contingently issuable shares(1)(3)	—		—		—		—
Weighted average common shares outstanding	38,675		38,538		38,561		38,867
Diluted loss per common share	$	(0.14)	$	(0.23)	$	(0.40)	$	(0.37)
Antidilutive shares excluded from diluted loss per common share(4)	1,296		1,887		1,220		1,781

(1)Relates to contingently issuable stock settled consideration.

(2)RSAs were issued to the non-employee directors and have a one-year vesting term subject to service requirements. See Note 9 – “Stock-Based Compensation Plans” for additional information.

(3)Shares related to the Company's RSUs, RSAs, ESPP, and contingently issuable shares were excluded from the weighted average common shares outstanding for the six months ended June 30, 2024 because inclusion of such shares would be antidilutive in a period of loss.

(4)Primarily pertaining to RSU grants to the Company’s employees and independent contractors.