Marcus & Millichap (MMI) 10-Q10 May 192019 Q1 Quarterly reportFinancial data

Company Profile

Document and Entity Information

Document and Entity Information - shares	3 Months Ended
Document and Entity Information - shares	Mar. 31, 2019	May 02, 2019
Document And Entity Information [Abstract]
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Mar. 31, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q1
Trading Symbol	MMI
Entity Registrant Name	Marcus & Millichap, Inc.
Entity Central Index Key	0001578732
Current Fiscal Year End Date	--12-31
Entity Filer Category	Large Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Common Stock, Shares Outstanding		39,046,971

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Current assets:
Cash and cash equivalents	$ 198,132	$ 214,683
Commissions receivable	6,119	4,948
Prepaid expenses	8,833	7,904
Marketable securities, available-for-sale	121,059	137,436
Other assets, net	6,031	6,368
Total current assets	340,174	371,339
Prepaid rent	0	13,892
Property and equipment, net	19,937	19,550
Operating lease right-of-use assets, net	83,913	0
Marketable securities, available-for-sale	75,044	83,209
Assets held in rabbi trust	8,939	8,268
Deferred tax assets, net	20,428	22,959
Goodwill and other intangible assets, net	15,133	15,385
Other assets	39,948	31,778
Total assets	603,516	566,380
Current liabilities:
Accounts payable and other liabilities	13,175	11,035
Notes payable to former stockholders	1,087	1,087
Deferred compensation and commissions	25,923	47,910
Income tax payable	7,603	4,486
Operating lease liabilities	17,358	0
Accrued bonuses and other employee related expenses	8,217	28,338
Total current liabilities	73,363	92,856
Deferred compensation and commissions	36,906	49,887
Notes payable to former stockholders	6,564	6,564
Operating lease liabilities	58,494	0
Deferred rent and other liabilities	2,097	7,499
Total liabilities	177,424	156,806
Commitments and contingencies	0	0
Stockholders' equity:
Preferred stock, $0.0001 par value: Authorized shares - 25,000,000; issued and outstanding shares - none at March 31, 2019 and December 31, 2018, respectively	0	0
Common stock, $0.0001 par value: Authorized shares - 150,000,000; issued and outstanding shares - 39,042,434 and 38,814,464 at March 31, 2019 and December 31, 2018, respectively	4	4
Additional paid-in capital	97,587	97,458
Stock notes receivable from employees	(4)	(4)
Retained earnings	326,979	311,341
Accumulated other comprehensive income	1,526	775
Total stockholders' equity	426,092	409,574
Total liabilities and stockholders' equity	$ 603,516	$ 566,380

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Mar. 31, 2019	Dec. 31, 2018
Statement of Financial Position [Abstract]
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Common stock, par value	$ 0.0001	$ 0.0001
Common stock, shares authorized	150,000,000	150,000,000
Common stock, shares issued	39,042,434	38,814,464
Common stock, shares outstanding	39,042,434	38,814,464

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF NET AND COMPREHENSIVE INCOME - USD ($) shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Revenues:
Revenue	$ 160,707	$ 174,541
Operating expenses:
Cost of services	91,688	101,649
Selling, general and administrative expense	48,918	48,053
Depreciation and amortization expense	1,832	1,375
Total operating expenses	142,438	151,077
Operating income	18,269	23,464
Other income (expense), net	3,375	1,209
Interest expense	(349)	(360)
Income before provision for income taxes	21,295	24,313
Provision for income taxes	5,657	6,302
Net income	15,638	18,011
Marketable securities, available-for-sale:
Change in unrealized gains (losses)	858	(492)
Less: reclassification adjustment for net gains included in other income (expense), net	(9)	0
Net change, net of tax of $288 and $(164) for the three months ended March 31, 2019 and 2018, respectively	849	(492)
Foreign currency translation (loss) gain, net of tax of $0 for each of the three months ended March 31, 2019 and 2018	(98)	39
Total other comprehensive income (loss)	751	(453)
Comprehensive income	$ 16,389	$ 17,558
Earnings per share:
Basic	$ 0.40	$ 0.46
Diluted	$ 0.40	$ 0.46
Weighted average common shares outstanding:
Basic	39,311	39,095
Diluted	39,515	39,250
Real Estate Brokerage Commissions [Member]
Revenues:
Revenue	$ 144,937	$ 162,525
Financing Fees [Member]
Revenues:
Revenue	13,732	9,724
Other Revenues [Member]
Revenues:
Revenue	$ 2,038	$ 2,292

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF NET AND COMPREHENSIVE INCOME (Parenthetical) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Statement [Abstract]
Marketable securities net change, tax	$ 288	$ (164)
Foreign currency translation (loss) gain, tax	$ 0	$ 0

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF STOCKHOLDERS EQUITY - USD ($) $ in Thousands	Total	Preferred Stock [Member]	Common Stock [Member]	Additional Paid-In Capital [Member]	Stock Notes Receivable From Employees [Member]	Retained Earnings [Member]	Accumulated Other Comprehensive Income (Loss) [Member]
Beginning Balance at Jan. 01, 2018	$ 314,888	$ 0	$ 4	$ 89,877	$ (4)	$ 224,071	$ 940
Beginning Balance, Shares at Jan. 01, 2018		0	38,374,011
Balance as adjusted at Jan. 01, 2018	314,888	$ 0	$ 4	89,877	(4)	224,084	927
Net and comprehensive income	17,558	0	0	0	0	18,011	(453)
Stock-based compensation	2,613	$ 0	$ 0	2,613	0	0	0
Stock-based compensation, Shares		0	0
Issuance of common stock for vesting of restricted stock units	0	$ 0	$ 0	0	0	0	0
Issuance of common stock for vesting of restricted stock units, Shares		0	252,930
Shares withheld related to net share settlement of stock-based awards	(1,650)	$ 0	$ 0	(1,650)	0	0	0
Shares withheld related to net share settlement of stock-based awards, shares		0	(48,107)
Ending Balance at Mar. 31, 2018	333,409	$ 0	$ 4	90,840	(4)	242,095	474
Ending Balance, Shares at Mar. 31, 2018		0	38,578,834
Cumulative effect of a change in accounting principle	0	$ 0	$ 0	0	0	13	(13)
Beginning Balance at Dec. 31, 2018	409,574	$ 0	$ 4	97,458	(4)	311,341	775
Beginning Balance, Shares at Dec. 31, 2018		0	38,814,464
Net and comprehensive income	16,389	$ 0	$ 0	0	0	15,638	751
Stock-based compensation	2,341	$ 0	$ 0	2,341	0	0	0
Stock-based compensation, Shares		0	0
Issuance of common stock for vesting of restricted stock units	0	$ 0	$ 0	0	0	0	0
Issuance of common stock for vesting of restricted stock units, Shares		0	284,396
Shares withheld related to net share settlement of stock-based awards	(2,212)	$ 0	$ 0	(2,212)	0	0	0
Shares withheld related to net share settlement of stock-based awards, shares		0	(56,426)
Ending Balance at Mar. 31, 2019	$ 426,092	$ 0	$ 4	$ 97,587	$ (4)	$ 326,979	$ 1,526
Ending Balance, Shares at Mar. 31, 2019		0	39,042,434

CONDENSED CONSOLIDATED STATEM_4

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Cash flows from operating activities
Net income	$ 15,638	$ 18,011
Adjustments to reconcile net income to net cash used in operating activities:
Depreciation and amortization expense	1,832	1,375
Recovery for bad debt expense	(104)	(106)
Stock-based compensation	2,341	2,613
Deferred taxes, net	2,243	1,750
Net realized losses on marketable securities, available-for-sale	12	0
Other non-cash items	(48)	55
Changes in operating assets and liabilities:
Commissions receivable	(1,171)	6,735
Prepaid expenses	(929)	2,229
Prepaid rent	0	199
Other assets, net	(8,812)	(2,109)
Accounts payable and other liabilities	2,067	(2,682)
Income tax payable	3,117	4,439
Accrued bonuses and other employee related expenses	(20,060)	(12,970)
Deferred compensation and commissions	(35,838)	(32,659)
Operating lease liabilities and right-of-use assets	1,047	0
Deferred rent and other liabilities	67	131
Net cash used in operating activities	(38,598)	(12,989)
Cash flows from investing activities
Purchases of marketable securities, available-for-sale	(30,117)	(35,360)
Proceeds from sales and maturities of marketable securities, available-for-sale	55,833	30,067
Issuances of employee notes receivable	0	(125)
Payments received on employee notes receivable	1	3
Purchase of property and equipment	(1,644)	(1,362)
Net cash provided by (used in) investing activities	24,073	(6,777)
Cash flows from financing activities
Taxes paid related to net share settlement of stock-based awards	(2,212)	(1,650)
Principal payments on stock appreciation rights	186	0
Net cash used in financing activities	(2,026)	(1,650)
Net decrease in cash and cash equivalents	(16,551)	(21,416)
Cash and cash equivalents at beginning of period	214,683	220,786
Cash and cash equivalents at end of period	198,132	199,370
Supplemental disclosures of cash flow information
Interest paid during the period	1,751	1,553
Income taxes paid, net	$ 296	$ 113

Description of Business and Bas

Description of Business and Basis of Presentation	3 Months Ended
Description of Business and Basis of Presentation	Mar. 31, 2019
Accounting Policies [Abstract]
Description of Business and Basis of Presentation	Description of Business and Basis of Presentation Description of Business Marcus & Millichap, Inc. (the “Company”, “Marcus & Millichap”, or “MMI”), a Delaware corporation, is a brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of March 31, 2019, MMI operated 80 offices in the United States and Canada through its wholly-owned subsidiaries, including the operations of Marcus & Millichap Capital Corporation. Reorganization and Initial Public Offering MMI was formed in June 2013 in preparation for Marcus & Millichap Company (“MMC”) to spin-off Basis of Presentation The financial information presented in the accompanying unaudited condensed consolidated financial statements, has been prepared in accordance with rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q Article 10-01 Regulation S-X. 10-K Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation. Use of Estimates The preparation of 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 and the related disclosures at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates. Segment Reporting The Company follows U.S. GAAP for segment reporting, which requires reporting information on operating segments in interim and annual financial statements. Substantially all of the Company’s operations involve the delivery of commercial real estate services to our customers including real estate investment sales, financing (including mortgage servicing rights revenue) and consulting and advisory services. Management makes operating decisions, assesses performance and allocates resources based on an ongoing review of these integrated operations, which constitute the Company’s only operating segment for financial reporting purposes. Reclassifications Certain prior-period amounts in Note 13 – “Income Taxes” have been reclassified to conform to the current period presentation. These changes had no impact on the previously reported consolidated results of operations or any totals or subtotals therein.

Accounting Policies and Recent

Accounting Policies and Recent Accounting Pronouncements	3 Months Ended
Accounting Policies and Recent Accounting Pronouncements	Mar. 31, 2019
Accounting Policies [Abstract]
Accounting Policies and Recent Accounting Pronouncements	2. Accounting Policies and Recent Accounting Pronouncements Accounting Policies The complete list of the Company’s accounting policies is included in the Company’s Annual Report on Form 10-K Leases The Company utilizes operating leases for all its facilities and autos. The Company determines if an arrangement is a lease at inception. Right-of-use non-current, non-current Operating lease ROU assets and liabilities are recognized on the commencement date based on the present value of lease payments over the lease term. Lease agreements may contain periods of free rent or reduced rent, predetermined fixed increases in the minimum rent and renewal or termination options, all impacting the determination of the lease term and lease payments to be used in calculating the lease liability. The Company uses the implicit rate in the lease when determinable. As most of the Company’s leases do not have a determinable implicit rate, the Company uses a derived incremental borrowing rate based on borrowing options under its credit agreement. The Company applies a spread over treasury rates for the indicated term of the lease based on the information available on the commencement date of the lease. The Company typically leases general purpose built-out The Company has lease agreements with lease and non-lease Concentration of Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk principally consist of cash and cash equivalents due from independent contractors (included under other assets, net current and other assets non-current), available-for-sale, non-current) available-for-sale 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 and cash equivalents. The Company historically has not experienced any significant losses related to cash and cash equivalents. The Company derives its revenues 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 requires collateral on a case-by-case During the three months ended March 31, 2019 and 2018, the Company’s Canadian operations represented less than 1% of total revenues. During the three months ended March 31, 2019 and 2018, no office represented 10% or more of total revenues. Recent Accounting Pronouncements Adopted In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases The adoption of the new standard had a material impact on the Company’s condensed consolidated balance sheet, but did not have a material impact on the Company’s condensed consolidated statements of net and comprehensive income. The Company elected available practical expedients permitted under the guidance, which among other items, allow the Company to (i) carry forward its historical lease classification, (ii) not reassess leases for the definition of “lease” under the new standard, (iii) utilize a discount rate as of the effective date and (iv) not record leases that expired or were terminated prior to the effective date. The Company made an accounting policy election to account for lease and non-lease The Company implemented internal controls and key system functionality to enable the preparation of the required financial information. In March 2017, the FASB issued ASU No. 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): 2017-08”). 2017-08 2017-08 Pending Adoption In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses 2016-13”). 2016-13 2016-13, available-for 2016-13. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement 2018-13”). 2018-13 2018-13 2018-13 2018-13 In August 2018, the FASB issued ASU No. 2018-15, Internal-Use 350-40) 2018-15”). 2018-15 2018-15 internal-use internal-use 2018-15

Property and Equipment, Net

Property and Equipment, Net	3 Months Ended
Property and Equipment, Net	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Property and Equipment, Net	3. Property and Equipment, Net Property and equipment, net consisted of the following (in thousands): March 31, December 31, Computer software and hardware equipment $ 21,420 $ 20,427 Furniture, fixtures, and equipment 24,873 24,227 Less: accumulated depreciation and amortization (26,356 ) (25,104 ) $ 19,937 $ 19,550 During the three months ended March 31, 2019 and 2018, the Company wrote-off As of March 31, 2019 and 2018, property and equipment additions incurred but not yet paid included in accounts payable and other liabilities were $473,000 and $180,000, respectively.

Operating Leases

Operating Leases	3 Months Ended
Operating Leases	Mar. 31, 2019
Leases [Abstract]
Operating Leases	4. Operating Leases The Company has operating leases for all of its facilities and autos. Lease agreements may contain periods of free rent or reduced rent, or contain predetermined fixed increases in the minimum rent. Certain facility leases provide for rental escalations related to increases in the lessors’ direct operating expenses. As of March 31, 2019, operating lease ROU assets were $89.0 million and the related accumulated amortization was $5.1 million. The operating lease cost consisted of the following (in thousands): Three Months Ended Operating lease cost: Lease cost (1) $ 5,909 Variable lease cost (2) 1,206 Sublease income (3 ) (88 ) $ 7,027 (1) Includes short-term lease cost and ROU asset amortization. (2) Primarily relates to common area maintenance, property taxes, insurance, utilities and parking. (3) The Company subleases certain office space to subtenants. The rental income received from these subleases is included as a reduction to lease cost. Future minimum lease payments under non-cancelable March 31, 2019 Remainder of 2019 $ 15,233 2020 19,376 2021 16,907 2022 12,364 2023 8,778 Thereafter 10,554 Total future minimum lease payments 83,212 Less imputed interest (7,360 ) Present value of operating lease liabilities $ 75,852 Supplemental cash flow information and noncash activity related to the operating leases consisted of the following (in thousands): Three Months Ended Operating cash flow information: Cash paid for amounts included in the measurement of operating lease liabilities $ 4,842 Noncash activity: ROU assets and operating lease liabilities in connection with adoption of new lease standard $ Reclassification of prepaid rent and deferred rent to ROU assets in connection with adoption of new lease standard $ 7,801 ROU assets obtained in exchange for operating lease liabilities $ 3,227 Initial direct costs related to ROU assets (1) $ 1,306 (1) Reclassification from other assets current. Other information related to the operating leases consisted of the following: March 31, 2019 Weighted average remaining operating lease term 4.75 years Weighted average discount rate 3.9 %

Investments in Marketable Secur

Investments in Marketable Securities	3 Months Ended
Investments in Marketable Securities	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Investments in Marketable Securities	5. Investments in Marketable Securities Amortized cost and fair value of marketable securities, available-for-sale, March 31, 2019 December 31, 2018 Amortized Gross Gross Fair Amortized Gross Gross Fair Short-term investments: U.S. treasuries $ 104,049 $ 35 $ (10 ) $ 104,074 $ 121,252 $ 7 $ (79 ) $ 121,180 U.S. government sponsored entities — — — — 3,512 — (7 ) 3,505 Corporate debt securities 16,196 — (12 ) 16,184 11,962 — (11 ) 11,951 Asset-backed securities and other 805 — (4 ) 801 806 — (6 ) 800 $ 121,050 $ 35 $ (26 ) $ 121,059 $ 137,532 $ 7 $ (103 ) $ 137,436 Long-term investments: U.S. treasuries $ 33,560 $ 164 $ (54 ) $ 33,670 $ 44,997 $ 128 $ (115 ) $ 45,010 U.S. government sponsored entities 1,519 — (40 ) 1,479 1,569 — (62 ) 1,507 Corporate debt securities 33,996 264 (55 ) 34,205 32,467 3 (633 ) 31,837 Asset-backed securities and other 5,662 34 (6 ) 5,690 4,889 12 (46 ) 4,855 $ 74,737 $ 462 $ (155 ) $ 75,044 $ 83,922 $ 143 $ (856 ) $ 83,209 The amortized cost and fair value of the Company’s investments in available-for-sale March 31, 2019 December 31, 2018 Unrealized Fair Value Unrealized Fair Value Less than 12 months $ (14 ) $ 58,647 $ (576 ) $ 127,326 12 months or longer $ (167 ) $ 13,996 $ (383 ) $ 30,609 Gross realized gains and gross realized losses from the sales of the Company’s available-for-sale Three Months Ended 2019 2018 Gross realized gains (1) $ 35 $ — Gross realized losses (1) $ (47 ) $ — (1) Recorded in other income (expense), net in the condensed consolidated statements of net and comprehensive income. The cost basis of securities sold were determined based on the specific identification method. As of March 31, 2019, the Company considers the declines in market value of its marketable securities, available-for-sale available-for-sale Amortized cost and fair value of marketable securities, available-for-sale, March 31, 2019 December 31, 2018 Amortized Fair Value Amortized Fair Value Due in one year or less $ 121,050 $ 121,059 $ 137,532 $ 137,436 Due after one year through five years 53,339 53,600 61,875 61,846 Due after five years through ten years 16,348 16,432 17,310 16,747 Due after ten years 5,050 5,012 4,737 4,616 $ 195,787 $ 196,103 $ 221,454 $ 220,645 Weighted average contractual maturity 1.9 years 1.8 years Actual maturities may differ from contractual maturities because certain borrowers have the right to prepay certain obligations with or without prepayment penalties.

Goodwill and Other Intangible A

Goodwill and Other Intangible Assets	3 Months Ended
Goodwill and Other Intangible Assets	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill and Other Intangible Assets	6. Goodwill and Other Intangible Assets Goodwill and intangible assets, net consisted of the following (in thousands): March 31, 2019 December 31, 2018 Gross Accumulated Net Book Gross Accumulated Net Book Goodwill and intangible assets: Goodwill (1) $ 11,459 $ — $ 11,459 $ 11,459 $ — $ 11,459 Intangible assets (1) 4,240 (566 ) 3,674 4,240 (314 ) 3,926 $ 15,699 $ (566 ) $ 15,133 $ 15,699 $ (314 ) $ 15,385 (1) Represents additions from acquisitions. The net change in the carrying value of intangible assets consisted of the following (in thousands): Three Months Ended 2019 2018 Beginning balance $ 3,926 $ — Additions from acquisitions — — Amortization (252 ) — Ending balance $ 3,674 $ — Estimated amortization expense for intangible assets for the next five years and thereafter consisted of the following (in thousands): March 31, Remainder of 2019 $ 618 2020 817 2021 734 2022 633 2023 535 Thereafter 337 $ 3,674

Selected Balance Sheet Data

Selected Balance Sheet Data	3 Months Ended
Selected Balance Sheet Data	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Selected Balance Sheet Data	7. Selected Balance Sheet Data Other Assets Other assets consisted of the following (in thousands): Current Non-Current March 31, December 31, March 31, December 31, Mortgage servicing rights (“MSRs”), net of amortization $ — $ — $ 2,203 $ 2,209 Due from independent contractors, net (1) (2) 2,335 3,831 35,421 27,157 Security deposits — — 1,212 1,196 Employee notes receivable (3) 151 156 263 370 Customer trust accounts and other 3,545 2,381 849 846 $ 6,031 $ 6,368 $ 39,948 $ 31,778 (1) Represents amounts advanced, notes receivable and other receivables due from the Company’s investment sales and financing professionals. The notes receivable along with interest are typically collected from future commissions and are generally due in one to five years. (2) Includes allowance for doubtful accounts related to current receivables of $407 and $514 as of March 31, 2019 and December 31, 2018, respectively. The Company recorded a recovery for bad debt expense of $(104) and $(106) and wrote-off (3) Reduction of accrued bonuses and other employee related expenses in settlement of employee notes receivable were $60 and $131 for the three months ended March 31, 2019 and 2018, respectively. See Note 9 – “Related-Party Transactions” for additional information. MSRs The net change in the carrying value of MSRs consisted of the following (in thousands): March 31, December 31, Beginning balance $ 2,209 $ — Additions from acquisition — 2,121 Additions 129 391 Amortization (135 ) (303 ) Ending balance $ 2,203 $ 2,209 The portfolio of loans serviced by the Company aggregated $1.6 billion for each of the periods of March 31, 2019 and December 31, 2018, respectively. In connection with MSRs activities, the Company holds funds in escrow for the benefit of the lenders. These funds, which totaled $2.2 million and $2.1 million as of March 31, 2019 and December 31, 2018, respectively and the offsetting obligations, are not presented in the Company’s condensed consolidated financial statements as they do not represent assets and liabilities of the Company. Revenue from the fees on such accounts is included in financing revenue in the condensed consolidated statements of net and comprehensive income. Deferred Compensation and Commissions Deferred compensation and commissions consisted of the following (in thousands): Current Non-Current March 31, December 31, March 31, December 31, Stock appreciation rights (“SARs”) liability (1) $ 1,969 $ 1,810 $ 17,630 $ 19,299 Commissions payable to investment sales and financing professionals 22,504 44,812 11,883 23,983 Deferred compensation liability (1) 1,450 1,288 7,393 6,605 $ 25,923 $ 47,910 $ 36,906 $ 49,887 (1) The SARs and deferred compensation liability become subject to payout as a result of a participant no longer being considered as a service provider. As a result of the retirement of certain participants, estimated amounts to be paid to the participants within the next twelve months have been classified as current. SARs Liability Prior to the IPO, certain employees of the Company were granted SARs under a stock-based compensation program assumed by MMC. In connection with the IPO, the SARs agreements were revised, the MMC liability of $20.0 million for the SARs was frozen as of March 31, 2013, and was transferred to MMI through a capital distribution. The SARs liability will be settled with each participant in ten annual installments in January of each year upon retirement or termination from service, or in full upon consummation of a change in control of the Company. Under the revised agreements, MMI is required to accrue interest on the outstanding balance beginning on January 1, 2014 at a rate based on the 10-year Estimated payouts within the next twelve months for participants that have separated from service have been classified as current. During the three months ended March 31, 2019 and 2018, the Company made total payments of $1.7 million (consisting of principal and accumulated interest) and $1.5 million, respectively (consisting of accumulated interest). Commissions Payable Certain investment sales professionals have the ability to earn additional commissions after meeting certain annual revenue thresholds. These commissions are recognized as cost of services in the period in which they are earned as they relate to specific transactions closed. The Company has the ability to defer payment of certain commissions, at its election, for up to three years. Commissions payable that are not expected to be paid within twelve months are classified as long-term. Deferred Compensation Liability A select group of management is eligible to participate in the Marcus & Millichap Deferred Compensation Plan (the “Deferred Compensation Plan”). The Deferred Compensation Plan is a non-qualified in-service The net change in the carrying value of the assets held in the rabbi trust and the net change in the carrying value of the deferred compensation liability, each exclusive of additional contributions, distributions and trust expenses, consisted of the following (in thousands): Three Months Ended 2019 2018 Increase in the carrying value of the assets held in the rabbi trust (1) $ 703 $ 14 Increase in the net carrying value of the deferred compensation obligation (2) $ 685 $ — (1) Recorded in other income (expense), net in the condensed consolidated statements of net and comprehensive income. (2) Recorded in selling, general and administrative expense in the condensed consolidated statements of net and comprehensive income. Deferred Rent and Other Liabilities Deferred rent and other liabilities consisted of the following (in thousands): Non-Current March 31, December 31, Deferred rent and other (1) $ — $ 5,445 Contingent consideration (2) 2,097 2,054 $ 2,097 $ 7,499 (1) The Company does not have deferred rent as of March 31, 2019 due to adoption of the new lease standard on January 1, 2019. (2) The current portions of contingent consideration in the amounts of $826 and $821 as of March 31, 2019 and December 31, 2018, respectively, are included in accounts payable and other liabilities in the condensed consolidated balance sheets.

Notes Payable to Former Stockho

Notes Payable to Former Stockholders	3 Months Ended
Notes Payable to Former Stockholders	Mar. 31, 2019
Payables and Accruals [Abstract]
Notes Payable to Former Stockholders	8. Notes Payable to Former Stockholders In conjunction with the spin-off

Related-Party Transactions

Related-Party Transactions	3 Months Ended
Related-Party Transactions	Mar. 31, 2019
Related Party Transactions [Abstract]
Related-Party Transactions	9. Related-Party Transactions Shared and Transition Services Certain services are provided to the Company under a Transition Services Agreement (“TSA”) between MMC and the Company. The TSA is intended to provide certain services until the Company acquires the services separately. During the three months ended March 31, 2019 and 2018, the Company incurred net costs of $43,000 and $72,000 under the TSA, respectively. These amounts are included in selling, general and administrative expense in the accompanying condensed consolidated statements of net and comprehensive income. Brokerage and Financing Services with the Subsidiaries of MMC MMC has wholly or majority owned subsidiaries that buy and sell commercial real estate properties. The Company performs certain brokerage and financing services related to transactions of the subsidiaries of MMC. For the three months ended March 31, 2019 and 2018, the Company earned real estate brokerage commissions and financing fees of $882,000 and $2.6 million, respectively, from transactions with subsidiaries of MMC related to these services. The Company incurred cost of services of $522,000 and $1.5 million, respectively, related to these revenues. Operating Lease with MMC The Company has an operating lease with MMC for a single-story office building located in Palo Alto, California, which expires on May 31, 2022. Operating lease cost for this lease aggregated $333,000 and $253,000 for the three months ended March 31, 2019 and 2018, respectively. Operating lease cost is included in selling, general and administrative expense in the accompanying condensed consolidated statements of net and comprehensive income. Accounts Payable and Other Liabilities with MMC As of March 31, 2019 and December 31, 2018, accounts payable and other liabilities with MMC totaling $103,000 and $101,000, respectively, remain unpaid and are included in accounts payable and other liabilities in the accompanying condensed consolidated balance sheets. Other The Company makes advances to non-executive time-to-time. non-current), As of March 31, 2019, George M. Marcus, the Company’s founder and Co-Chairman,

Fair Value Measurements

Fair Value Measurements	3 Months Ended
Fair Value Measurements	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Fair Value Measurements	10. Fair Value Measurements U.S. GAAP defines the fair value of a financial instrument as the amount that would be received from the sale of an asset in an orderly transaction between market participants at the measurement date. The Company is responsible for the determination of the value of the investments carried at fair value and the supporting methodologies and assumptions. The Company uses various pricing sources and third parties to validate the values utilized. The degree of judgment used in measuring the fair value of financial instruments is generally inversely correlated with the level of observable valuation inputs. Financial instruments with quoted prices in active markets generally have more pricing observability, and less judgment is used in measuring fair value. Financial instruments for which no quoted prices are available have less observability and are measured at fair value using valuation models or other pricing techniques that require more judgment. Assets recorded at fair value are measured and classified in accordance with a fair value hierarchy consisting of the three “levels” based on the observability of inputs available in the marketplace used to measure the fair values as discussed below: Level 1: Level 2: Level 3: Recurring Fair Value Measurements The Company values its investments including commercial paper and floating NAV money market funds recorded in cash and cash equivalents, investments in marketable securities, available-for-sale, available-for-sale Fair values for assets held in the Rabbi Trust and related deferred compensation liability were determined based on the cash surrender value of the company owned variable life insurance policies and underlying investments in the trust, and are Level 2 and Level 1 measurements, respectively. Contingent consideration in connection with acquisitions is carried at fair value, and determined on a contract-by-contract The Company values MSRs at fair value upon acquisition of a servicing contract. MSRs do not trade in an active, open market with readily observable prices, and are a Level 3 measurement. Assets and liabilities carried at fair value on a recurring basis consisted of the following (in thousands): March 31, 2019 December 31, 2018 Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Assets: Assets held in rabbi trust $ 8,939 $ — $ 8,939 $ — $ 8,268 $ — $ 8,268 $ — Cash equivalents (1) Commercial paper and other $ 4,997 $ — $ 4,997 $ — $ 1,599 $ 1,599 $ — $ — Money market funds 167,745 167,745 — — 163,126 163,126 — — $ 172,742 $ 167,745 $ 4,997 $ — $ 164,725 $ 164,725 $ — $ — Marketable securities, available-for-sale: Short-term investments: U.S. treasuries $ 104,074 $ 104,074 $ — $ — $ 121,180 $ 121,180 $ — $ — U.S. government sponsored entities — — — — 3,505 — 3,505 — Corporate debt securities 16,184 — 16,184 — 11,951 — 11,951 — Asset-backed securities and other 801 — 801 — 800 — 800 — $ 121,059 $ 104,074 $ 16,985 $ — $ 137,436 $ 121,180 $ 16,256 $ — Long-term investments: U.S. treasuries $ 33,670 $ 33,670 $ — $ — $ 45,010 $ 45,010 $ — $ — U.S. government sponsored entities 1,479 — 1,479 — 1,507 — 1,507 — Corporate debt securities 34,205 — 34,205 — 31,837 — 31,837 — Asset-backed securities and other 5,690 — 5,690 — 4,855 — 4,855 — $ 75,044 $ 33,670 $ 41,374 $ — $ 83,209 $ 45,010 $ 38,199 $ — Liabilities: Contingent consideration (2) $ 2,923 $ — $ — $ 2,923 $ 2,875 $ — $ — $ 2,875 Deferred compensation liability $ 8,843 $ 8,843 $ — $ — $ 7,893 $ 7,893 $ — $ — (1) Included in cash and cash equivalents on the accompanying condensed consolidated balance sheets. (2) Assuming the achievement of the applicable performance criteria, the Company anticipates these earn-out March 31, December 31, Beginning balance $ 2,875 $ — Contingent consideration in connection with acquisitions — 2,674 Change in fair value of contingent consideration 48 201 Payments of contingent consideration — — Ending balance $ 2,923 $ 2,875 There were no transfers in or out of Level 1, Level 2 and Level 3 during the three months ended March 31, 2019. Nonrecurring Fair Value Measurements The Company reviews the carrying value of MSRs, intangibles, goodwill and other assets for indications of impairment quarterly. When indications of potential impairment are identified, the Company may be required to determine the fair value of those assets and record an adjustment for the carrying amount in excess of the fair value determined. Any fair value determination would be based on valuation approaches appropriate in the circumstances and utilize Level 2 and Level 3 measurements as required. In accordance with U.S. GAAP, from time to time, the Company measures certain assets at fair value on a nonrecurring basis. These assets include MSRs. MSRs are initially recorded at fair value based on internal models using contractual information and assumptions of a market participant and are a Level 3 measurement. The Company’s MSRs do not trade in an active, open market with readily observable prices. The Company has elected the amortization method for the subsequent measurement of MSRs. The estimated fair value of the Company’s MSRs were developed using discounted cash flow models that calculate the present value of estimated future net servicing income. The model considers contractually specified servicing fees, prepayment assumptions, delinquency rates, late charges, other ancillary revenue, costs to service, and other economic factors. The Company periodically reassesses and adjusts, when necessary, the underlying inputs and assumptions used in the model to reflect observable market conditions and assumptions that a market participant would consider in valuing an MSR asset. MSRs are carried at the lower of amortized cost or fair value. The fair value of the MSRs approximated the carrying value at March 31, 2019 and December 31, 2018.

Stockholders' Equity

Stockholders' Equity	3 Months Ended
Stockholders' Equity	Mar. 31, 2019
Federal Home Loan Banks [Abstract]
Stockholders' Equity	11. Stockholders’ Equity Common Stock As of March 31, 2019 and December 31, 2018, there were 39,042,434 and 38,814,464 shares of common stock, $0.0001 par value, issued and outstanding, which includes unvested restricted stock awards issued to non-employee Preferred Stock The Company has 25,000,000 authorized shares of preferred stock with a par value $0.0001 per share. At March 31, 2019 and December 31, 2018, there were no preferred shares issued or outstanding. Accumulated Other Comprehensive Income/Loss Amounts reclassified from accumulated other comprehensive income/loss are included as a component of other income (expense), net in the condensed consolidated statements of net and comprehensive income. The reclassifications were determined on a specific identification basis. The Company has not provided for U.S. taxes on unremitted earnings of its foreign subsidiary as it is operating at a loss and has no earnings and profits to remit. As a result, deferred taxes were not provided related to the cumulative foreign currency translation adjustments.

Stock-Based Compensation Plans

Stock-Based Compensation Plans	3 Months Ended
Stock-Based Compensation Plans	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Stock-Based Compensation Plans	12. Stock-Based Compensation Plans 2013 Omnibus Equity Incentive Plan The Company’s board of directors adopted the 2013 Omnibus Equity Incentive Plan (the “2013 Plan”), which became effective upon the Company’s IPO. In February 2017, the board of directors amended and restated the 2013 Plan, which was approved by the Company’s stockholders in May 2017. Grants are made from time to time by the compensation committee of the Company’s board of directors at its discretion subject to certain restrictions as to the number and value of shares that may be granted to any individual. In addition, non-employee Awards Granted and Settled Under the 2013 Plan, the Company has issued restricted stock awards (“RSAs”) to non-employee one-year During the three months ended March 31, 2019, 290,396 shares of RSUs were vested of which 284,396 were delivered. Additionally, 56,426 shares of common stock were withheld to pay applicable required employee statutory withholding taxes based on the market value of the shares on the vesting date. The shares withheld for taxes were returned to the share reserve and are available for future issuance in accordance with provisions of the 2013 Plan. Outstanding Awards Activity under the 2013 Plan consisted of the following (dollars in thousands, except per share data): RSA Grants to Non-employee RSU Grants RSU Grants Total Weighted- Nonvested shares at December 31, 2018 27,096 471,782 392,697 891,575 $ 27.59 Granted February 2019 — 204,060 7,731 211,791 Total Granted — 204,060 7,731 211,791 39.45 Vested (1) — (152,816 ) (137,580 ) (290,396 ) 21.74 Transferred — (4,915 ) 4,915 — 28.80 Forfeited/canceled — (3,277 ) (11,767 ) (15,044 ) 32.17 Nonvested shares at March 31, 2019 (2) 27,096 514,834 255,996 797,926 $ 32.78 Unrecognized stock-based compensation expense as of March 31, 2019 (3) $ 182 $ 16,149 $ 8,221 $ 24,552 Weighted average remaining vesting period (years) as of March 31, 2019 0.81 3.92 3.27 3.68 (1) Includes vested shares delivered subsequent to March 31, 2019. (2) Nonvested RSUs will be settled through the issuance of new shares of common stock. (3) The total unrecognized compensation expense is expected to be recognized over a weighted-average period of approximately 3.68 years. Employee Stock Purchase Plan In 2013, the Company adopted the 2013 Employee Stock Purchase Plan (“ESPP”). The ESPP qualifies under Section 423 of the Internal Revenue Code and provides for consecutive, non-overlapping 6-month 6-month The ESPP initially had 366,667 shares of common stock reserved and 225,894 shares of common stock remain available for issuance for each of the periods at March 31, 2019 and December 31, 2018. The ESPP provides for annual increases in the number of shares available for issuance under the ESPP, equal to the least of (i) 366,667 shares, (ii) 1% of the outstanding shares on such date, or (iii) an amount determined by the compensation committee of the Company’s board of directors. Pursuant to the provisions of the ESPP, the board of directors has determined to not provide for any annual increases to date. At March 31, 2019, total unrecognized compensation cost related to the ESPP was $14,000 and is expected to be recognized over a weighted average period of 0.12 years. SARs and DSUs Prior to the IPO, certain employees were granted SARs. As of March 31, 2013, the outstanding SARs were frozen at the liability amount, and will be paid out to each participant in installments upon retirement or departure under the terms of the revised SARs agreements. To replace beneficial ownership in the SARs, the difference between the book value liability and the fair value of the awards was granted to plan participants in the form of DSUs, which were fully vested upon receipt and will be settled in actual stock at a rate of 20% per year if the participant remains employed by the Company during that period (otherwise all unsettled shares of stock upon termination from service will be settled five years from the termination date, unless otherwise agreed to by the Company). In the event of death or termination of service after reaching the age of 67, 100% of the DSUs will be settled. Future share settlements of fully vested DSUs by year consisted of the following: March 31, 2021 60,373 2022 281,193 341,566 Summary of Stock-Based Compensation Components of stock-based compensation are included in selling, general and administrative expense in the condensed consolidated statements of net and comprehensive income consisted of the following (in thousands): Three Months Ended 2019 2018 Employee stock purchase plan $ 30 $ 39 RSAs – non-employee 170 111 RSUs – employees 1,345 953 RSUs – independent contractors (1) 796 1,510 $ 2,341 $ 2,613 (1) The Company grants RSUs to independent contractors (i.e. investment sales and financing professionals), who are considered non-employees. No. 2018-07 non-employee

Income Taxes

Income Taxes	3 Months Ended
Income Taxes	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Income Taxes	13. Income Taxes The Company’s effective tax rate for the three months ended March 31, 2019 was 26.6%, compared to 25.9% for the three months ended March 31, 2018. The Company provides for the effects of income taxes in interim financial statements based on the Company’s estimate of its annual effective tax rate for the full year, which is based on forecasted income by jurisdiction where the Company operates, adjusted for the tax effects of items that relate discretely to the period, if any. The provision for income taxes differs from the amount computed by applying the U.S. federal statutory rate to income before provision for income taxes and consisted of the following (dollars in thousands): Three Months Ended March 31, 2019 2018 Amount Rate Amount Rate Income tax expense at the federal statutory rate $ 4,472 21.0 % $ 5,106 21.0 % State income tax expense, net of federal benefit 894 4.2 % 1,097 4.5 % Windfall tax benefits, net related to stock-based compensation (265 ) (1.2 )% (217 ) (0.9 )% Change in valuation allowance 259 1.2 % 40 0.2 % Permanent and other items (1) 297 1.4 % 276 1.1 % $ 5,657 26.6 % $ 6,302 25.9 % (1) Permanent items relate principally to compensation charges and meals and entertainment.

Earnings per Share

Earnings per Share	3 Months Ended
Earnings per Share	Mar. 31, 2019
Earnings Per Share [Abstract]
Earnings per Share	14. Earnings per Share Basic and diluted earnings per share for the three months ended March 31, 2019 and 2018, respectively consisted of the following (in thousands, except per share data): Three Months Ended 2019 2018 Numerator (Basic and Diluted): Net income $ 15,638 $ 18,011 Denominator: Basic Weighted average common shares issued and outstanding 38,996 38,547 Deduct: Unvested RSAs (1) (27 ) (31 ) Add: Fully vested DSUs (2) 342 579 Weighted Average Common Shares Outstanding 39,311 39,095 Basic earnings per common share $ 0.40 $ 0.46 Diluted Weighted Average Common Shares Outstanding from above 39,311 39,095 Add: Dilutive effect of RSUs, RSAs & ESPP 204 155 Weighted Average Common Shares Outstanding 39,515 39,250 Diluted earnings per common share $ 0.40 $ 0.46 Antidilutive shares excluded from diluted earnings per common share (3) 212 291 (1) RSAs were issued and outstanding to the non-employee one-year (2) Shares are included in weighted average common shares outstanding as the shares are fully vested but have not yet been delivered. See Note 12 – “Stock-Based Compensation Plans” for additional information. (3) Primarily pertaining to RSU grants to the Company’s employees and independent contractors.

Commitments and Contingencies

Commitments and Contingencies	3 Months Ended
Commitments and Contingencies	Mar. 31, 2019
Commitments and Contingencies Disclosure [Abstract]
Commitments and Contingencies	15. Commitments and Contingencies Credit Agreement On June 18, 2014, the Company entered into a Credit Agreement with Wells Fargo Bank, National Association (the “Bank”), dated as of June 1, 2014 (the “Credit Agreement”). The Credit Agreement provides for a $60.0 million principal amount senior secured revolving credit facility that is guaranteed by all of the Company’s domestic subsidiaries (the “Credit Facility”), which, as amended, matures on June 1, 2020. The Company may borrow, repay and reborrow amounts under the Credit Facility until its maturity date, at which time all amounts outstanding under the Credit Facility must be repaid in full. Borrowings under the Credit Agreement are available for general corporate purposes and working capital. The Credit Facility includes a $10.0 million sublimit for the issuance of standby letters of credit of which $533,000 was utilized at March 31, 2019. Borrowings under the Credit Facility will bear interest, at the Company’s option, at either the (i) Base Rate (defined as the highest of (a) the Bank’s prime rate, (b) the federal funds rate plus 1.5% and (c) one-month The Credit Facility contains customary covenants, including financial and other covenant reporting requirements and events of default. Financial covenants require the Company, on a combined basis with its guarantors, to maintain (i) an EBITDAR Coverage Ratio (as defined in the Credit Agreement) of not less than 1.25:1.0 as of each quarter end, determined on a rolling four-quarter basis, (ii) total funded debt to EBITDA not greater than 2.0:1.0 as of each quarter end, determined on a rolling four-quarter basis and (iii) limits investments in foreign entities and caps certain other loans. The Credit Facility is secured by substantially all assets of the Company, including pledges of 100% of the stock or other equity interest of each subsidiary except for the capital stock of a controlled foreign corporation (as defined in the Internal Revenue Code), in which case no such pledge is required. As of March 31, 2019, the Company was in compliance with all financial and non-financial Other In connection with certain agreements with investment sales and financing professionals, the Company may agree to advance amounts to certain investment sales and financing professionals upon reaching certain performance goals. Such commitments as of March 31, 2019 and December 31, 2018, aggregated $510,000 and $1.0 million, respectively.

Description of Business and B_2

Description of Business and Basis of Presentation (Policies)	3 Months Ended
	Mar. 31, 2019
Accounting Policies [Abstract]
Description of Business	Description of Business Marcus & Millichap, Inc. (the “Company”, “Marcus & Millichap”, or “MMI”), a Delaware corporation, is a brokerage firm specializing in commercial real estate investment sales, financing, research and advisory services. As of March 31, 2019, MMI operated 80 offices in the United States and Canada through its wholly-owned subsidiaries, including the operations of Marcus & Millichap Capital Corporation.
Reorganization and Initial Public Offering	Reorganization and Initial Public Offering MMI was formed in June 2013 in preparation for Marcus & Millichap Company (“MMC”) to spin-off
Basis of Presentation	Basis of Presentation The financial information presented in the accompanying unaudited condensed consolidated financial statements, has been prepared in accordance with rules and regulations of the U.S. Securities and Exchange Commission (“SEC”) for quarterly reports on Form 10-Q Article 10-01 10-K
Consolidation	Consolidation The accompanying condensed consolidated financial statements include the accounts of the Company and its wholly-owned subsidiaries. All significant intercompany balances and transactions have been eliminated in consolidation.
Use of Estimates	Use of Estimates The preparation of 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 and the related disclosures at the date of the condensed consolidated financial statements and the reported amounts of revenues and expenses during the reporting period. Actual results could differ from those estimates.
Segment Reporting	Segment Reporting The Company follows U.S. GAAP for segment reporting, which requires reporting information on operating segments in interim and annual financial statements. Substantially all of the Company’s operations involve the delivery of commercial real estate services to our customers including real estate investment sales, financing (including mortgage servicing rights revenue) and consulting and advisory services. Management makes operating decisions, assesses performance and allocates resources based on an ongoing review of these integrated operations, which constitute the Company’s only operating segment for financial reporting purposes.
Reclassifications	Reclassifications Certain prior-period amounts in Note 13 – “Income Taxes” have been reclassified to conform to the current period presentation. These changes had no impact on the previously reported consolidated results of operations or any totals or subtotals therein.
Leases	Leases The Company utilizes operating leases for all its facilities and autos. The Company determines if an arrangement is a lease at inception. Right-of-use non-current, non-current Operating lease ROU assets and liabilities are recognized on the commencement date based on the present value of lease payments over the lease term. Lease agreements may contain periods of free rent or reduced rent, predetermined fixed increases in the minimum rent and renewal or termination options, all impacting the determination of the lease term and lease payments to be used in calculating the lease liability. The Company uses the implicit rate in the lease when determinable. As most of the Company’s leases do not have a determinable implicit rate, the Company uses a derived incremental borrowing rate based on borrowing options under its credit agreement. The Company applies a spread over treasury rates for the indicated term of the lease based on the information available on the commencement date of the lease. The Company typically leases general purpose built-out The Company has lease agreements with lease and non-lease
Concentration of Credit Risk	Concentration of Credit Risk Financial instruments that potentially subject the Company to a concentration of credit risk principally consist of cash and cash equivalents due from independent contractors (included under other assets, net current and other assets non-current), available-for-sale, non-current) available-for-sale 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 and cash equivalents. The Company historically has not experienced any significant losses related to cash and cash equivalents. The Company derives its revenues 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 requires collateral on a case-by-case During the three months ended March 31, 2019 and 2018, the Company’s Canadian operations represented less than 1% of total revenues. During the three months ended March 31, 2019 and 2018, no office represented 10% or more of total revenues.
Recent Accounting Pronouncements	Recent Accounting Pronouncements Adopted In February 2016, the Financial Accounting Standards Board (“FASB”) issued Accounting Standards Update (“ASU”) No. 2016-02, Leases The adoption of the new standard had a material impact on the Company’s condensed consolidated balance sheet, but did not have a material impact on the Company’s condensed consolidated statements of net and comprehensive income. The Company elected available practical expedients permitted under the guidance, which among other items, allow the Company to (i) carry forward its historical lease classification, (ii) not reassess leases for the definition of “lease” under the new standard, (iii) utilize a discount rate as of the effective date and (iv) not record leases that expired or were terminated prior to the effective date. The Company made an accounting policy election to account for lease and non-lease The Company implemented internal controls and key system functionality to enable the preparation of the required financial information. In March 2017, the FASB issued ASU No. 2017-08, Receivables – Nonrefundable Fees and Other Costs (Subtopic 310-20): 2017-08”). 2017-08 2017-08 Pending Adoption In June 2016, the FASB issued ASU No. 2016-13, Financial Instruments - Credit Losses 2016-13”). 2016-13 2016-13, available-for 2016-13. In August 2018, the FASB issued ASU No. 2018-13, Fair Value Measurement (Topic 820): Disclosure Framework - Changes to the Disclosure Requirements for Fair Value Measurement 2018-13”). 2018-13 2018-13 2018-13 2018-13 In August 2018, the FASB issued ASU No. 2018-15, Internal-Use 350-40) 2018-15”). 2018-15 2018-15 internal-use internal-use 2018-15

Property and Equipment, Net (Ta

Property and Equipment, Net (Tables)	3 Months Ended
Property and Equipment, Net (Tables)	Mar. 31, 2019
Property, Plant and Equipment [Abstract]
Schedule of Property and Equipment, Net	Property and equipment, net consisted of the following (in thousands): March 31, December 31, Computer software and hardware equipment $ 21,420 $ 20,427 Furniture, fixtures, and equipment 24,873 24,227 Less: accumulated depreciation and amortization (26,356 ) (25,104 ) $ 19,937 $ 19,550

Operating Leases (Tables)

Operating Leases (Tables)	3 Months Ended
Operating Leases (Tables)	Mar. 31, 2019
Leases [Abstract]
Schedule of Operating Lease Cost	The operating lease cost consisted of the following (in thousands): Three Months Ended Operating lease cost: Lease cost (1) $ 5,909 Variable lease cost (2) 1,206 Sublease income (3 ) (88 ) $ 7,027 (1) Includes short-term lease cost and ROU asset amortization. (2) Primarily relates to common area maintenance, property taxes, insurance, utilities and parking. (3) The Company subleases certain office space to subtenants. The rental income received from these subleases is included as a reduction to lease cost.
Schedule of Future Minimum Lease Payments Under Non-cancelable Operating Leases	Future minimum lease payments under non-cancelable March 31, 2019 Remainder of 2019 $ 15,233 2020 19,376 2021 16,907 2022 12,364 2023 8,778 Thereafter 10,554 Total future minimum lease payments 83,212 Less imputed interest (7,360 ) Present value of operating lease liabilities $ 75,852
Schedule of Supplemental Cash Flow Information and Noncash Activity Related to Operating Leases	Supplemental cash flow information and noncash activity related to the operating leases consisted of the following (in thousands): Three Months Ended Operating cash flow information: Cash paid for amounts included in the measurement of operating lease liabilities $ 4,842 Noncash activity: ROU assets and operating lease liabilities in connection with adoption of new lease standard $ Reclassification of prepaid rent and deferred rent to ROU assets in connection with adoption of new lease standard $ 7,801 ROU assets obtained in exchange for operating lease liabilities $ 3,227 Initial direct costs related to ROU assets (1) $ 1,306 (1) Reclassification from other assets current.
Schedule of Other Information Related to Operating Leases	Other information related to the operating leases consisted of the following: March 31, 2019 Weighted average remaining operating lease term 4.75 years Weighted average discount rate 3.9 %

Investments in Marketable Sec_2

Investments in Marketable Securities (Tables)	3 Months Ended
Investments in Marketable Securities (Tables)	Mar. 31, 2019
Investments, Debt and Equity Securities [Abstract]
Schedule of Amortized Cost and Fair Value of Marketable Securities, Available-for-Sale, by Type of Security	Amortized cost and fair value of marketable securities, available-for-sale, March 31, 2019 December 31, 2018 Amortized Gross Gross Fair Amortized Gross Gross Fair Short-term investments: U.S. treasuries $ 104,049 $ 35 $ (10 ) $ 104,074 $ 121,252 $ 7 $ (79 ) $ 121,180 U.S. government sponsored entities — — — — 3,512 — (7 ) 3,505 Corporate debt securities 16,196 — (12 ) 16,184 11,962 — (11 ) 11,951 Asset-backed securities and other 805 — (4 ) 801 806 — (6 ) 800 $ 121,050 $ 35 $ (26 ) $ 121,059 $ 137,532 $ 7 $ (103 ) $ 137,436 Long-term investments: U.S. treasuries $ 33,560 $ 164 $ (54 ) $ 33,670 $ 44,997 $ 128 $ (115 ) $ 45,010 U.S. government sponsored entities 1,519 — (40 ) 1,479 1,569 — (62 ) 1,507 Corporate debt securities 33,996 264 (55 ) 34,205 32,467 3 (633 ) 31,837 Asset-backed securities and other 5,662 34 (6 ) 5,690 4,889 12 (46 ) 4,855 $ 74,737 $ 462 $ (155 ) $ 75,044 $ 83,922 $ 143 $ (856 ) $ 83,209
Amortized Cost and Fair Value of Investments in Available for Sale Securities	The amortized cost and fair value of the Company’s investments in available-for-sale March 31, 2019 December 31, 2018 Unrealized Fair Value Unrealized Fair Value Less than 12 months $ (14 ) $ 58,647 $ (576 ) $ 127,326 12 months or longer $ (167 ) $ 13,996 $ (383 ) $ 30,609
Gross Realized Gains and Losses from Sale of Available for Sale Securities	Gross realized gains and gross realized losses from the sales of the Company’s available-for-sale Three Months Ended 2019 2018 Gross realized gains (1) $ 35 $ — Gross realized losses (1) $ (47 ) $ — (1) Recorded in other income (expense), net in the condensed consolidated statements of net and comprehensive income. The cost basis of securities sold were determined based on the specific identification method.
Schedule of Amortized Cost and Fair Value of Marketable Securities, Available-for-Sale, by Contractual Maturity	Amortized cost and fair value of marketable securities, available-for-sale, March 31, 2019 December 31, 2018 Amortized Fair Value Amortized Fair Value Due in one year or less $ 121,050 $ 121,059 $ 137,532 $ 137,436 Due after one year through five years 53,339 53,600 61,875 61,846 Due after five years through ten years 16,348 16,432 17,310 16,747 Due after ten years 5,050 5,012 4,737 4,616 $ 195,787 $ 196,103 $ 221,454 $ 220,645 Weighted average contractual maturity 1.9 years 1.8 years

Goodwill and Other Intangible_2

Goodwill and Other Intangible Assets (Tables)	3 Months Ended
Goodwill and Other Intangible Assets (Tables)	Mar. 31, 2019
Goodwill and Intangible Assets Disclosure [Abstract]
Summary of Goodwill and Intangible Assets	Goodwill and intangible assets, net consisted of the following (in thousands): March 31, 2019 December 31, 2018 Gross Accumulated Net Book Gross Accumulated Net Book Goodwill and intangible assets: Goodwill (1) $ 11,459 $ — $ 11,459 $ 11,459 $ — $ 11,459 Intangible assets (1) 4,240 (566 ) 3,674 4,240 (314 ) 3,926 $ 15,699 $ (566 ) $ 15,133 $ 15,699 $ (314 ) $ 15,385 (1) Represents additions from acquisitions.
Summary of Net Change in Carrying Value of Intangible Assets	The net change in the carrying value of intangible assets consisted of the following (in thousands): Three Months Ended 2019 2018 Beginning balance $ 3,926 $ — Additions from acquisitions — — Amortization (252 ) — Ending balance $ 3,674 $ —
Schedule of Estimated Amortization Expense for Intangible Assets	Estimated amortization expense for intangible assets for the next five years and thereafter consisted of the following (in thousands): March 31, Remainder of 2019 $ 618 2020 817 2021 734 2022 633 2023 535 Thereafter 337 $ 3,674

Selected Balance Sheet Data (Ta

Selected Balance Sheet Data (Tables)	3 Months Ended
Selected Balance Sheet Data (Tables)	Mar. 31, 2019
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Schedule of Other Assets	Other assets consisted of the following (in thousands): Current Non-Current March 31, December 31, March 31, December 31, Mortgage servicing rights (“MSRs”), net of amortization $ — $ — $ 2,203 $ 2,209 Due from independent contractors, net (1) (2) 2,335 3,831 35,421 27,157 Security deposits — — 1,212 1,196 Employee notes receivable (3) 151 156 263 370 Customer trust accounts and other 3,545 2,381 849 846 $ 6,031 $ 6,368 $ 39,948 $ 31,778 (1) Represents amounts advanced, notes receivable and other receivables due from the Company’s investment sales and financing professionals. The notes receivable along with interest are typically collected from future commissions and are generally due in one to five years. (2) Includes allowance for doubtful accounts related to current receivables of $407 and $514 as of March 31, 2019 and December 31, 2018, respectively. The Company recorded a recovery for bad debt expense of $(104) and $(106) and wrote-off (3) Reduction of accrued bonuses and other employee related expenses in settlement of employee notes receivable were $60 and $131 for the three months ended March 31, 2019 and 2018, respectively. See Note 9 – “Related-Party Transactions” for additional information.
Summary of Net Change in Carrying Value of MSRs	The net change in the carrying value of MSRs consisted of the following (in thousands): March 31, December 31, Beginning balance $ 2,209 $ — Additions from acquisition — 2,121 Additions 129 391 Amortization (135 ) (303 ) Ending balance $ 2,203 $ 2,209
Components of Deferred Compensation and Commissions	Deferred compensation and commissions consisted of the following (in thousands): Current Non-Current March 31, December 31, March 31, December 31, Stock appreciation rights (“SARs”) liability (1) $ 1,969 $ 1,810 $ 17,630 $ 19,299 Commissions payable to investment sales and financing professionals 22,504 44,812 11,883 23,983 Deferred compensation liability (1) 1,450 1,288 7,393 6,605 $ 25,923 $ 47,910 $ 36,906 $ 49,887 (1) The SARs and deferred compensation liability become subject to payout as a result of a participant no longer being considered as a service provider. As a result of the retirement of certain participants, estimated amounts to be paid to the participants within the next twelve months have been classified as current.
Summary of Net Change in Carrying Value of Assets Held in Rabbi Trust and Deferred Compensation Liability	The net change in the carrying value of the assets held in the rabbi trust and the net change in the carrying value of the deferred compensation liability, each exclusive of additional contributions, distributions and trust expenses, consisted of the following (in thousands): Three Months Ended 2019 2018 Increase in the carrying value of the assets held in the rabbi trust (1) $ 703 $ 14 Increase in the net carrying value of the deferred compensation obligation (2) $ 685 $ — (1) Recorded in other income (expense), net in the condensed consolidated statements of net and comprehensive income. (2) Recorded in selling, general and administrative expense in the condensed consolidated statements of net and comprehensive income.
Summary of Deferred Rent and Other Liabilities	Deferred rent and other liabilities consisted of the following (in thousands): Non-Current March 31, December 31, Deferred rent and other (1) $ — $ 5,445 Contingent consideration (2) 2,097 2,054 $ 2,097 $ 7,499 (1) The Company does not have deferred rent as of March 31, 2019 due to adoption of the new lease standard on January 1, 2019. (2) The current portions of contingent consideration in the amounts of $826 and $821 as of March 31, 2019 and December 31, 2018, respectively, are included in accounts payable and other liabilities in the condensed consolidated balance sheets.

Fair Value Measurements (Tables

Fair Value Measurements (Tables)	3 Months Ended
Fair Value Measurements (Tables)	Mar. 31, 2019
Fair Value Disclosures [Abstract]
Schedule of Assets and liabilities at Fair Value on Recurring Basis	Assets and liabilities carried at fair value on a recurring basis consisted of the following (in thousands): March 31, 2019 December 31, 2018 Fair Value Level 1 Level 2 Level 3 Fair Value Level 1 Level 2 Level 3 Assets: Assets held in rabbi trust $ 8,939 $ — $ 8,939 $ — $ 8,268 $ — $ 8,268 $ — Cash equivalents (1) Commercial paper and other $ 4,997 $ — $ 4,997 $ — $ 1,599 $ 1,599 $ — $ — Money market funds 167,745 167,745 — — 163,126 163,126 — — $ 172,742 $ 167,745 $ 4,997 $ — $ 164,725 $ 164,725 $ — $ — Marketable securities, available-for-sale: Short-term investments: U.S. treasuries $ 104,074 $ 104,074 $ — $ — $ 121,180 $ 121,180 $ — $ — U.S. government sponsored entities — — — — 3,505 — 3,505 — Corporate debt securities 16,184 — 16,184 — 11,951 — 11,951 — Asset-backed securities and other 801 — 801 — 800 — 800 — $ 121,059 $ 104,074 $ 16,985 $ — $ 137,436 $ 121,180 $ 16,256 $ — Long-term investments: U.S. treasuries $ 33,670 $ 33,670 $ — $ — $ 45,010 $ 45,010 $ — $ — U.S. government sponsored entities 1,479 — 1,479 — 1,507 — 1,507 — Corporate debt securities 34,205 — 34,205 — 31,837 — 31,837 — Asset-backed securities and other 5,690 — 5,690 — 4,855 — 4,855 — $ 75,044 $ 33,670 $ 41,374 $ — $ 83,209 $ 45,010 $ 38,199 $ — Liabilities: Contingent consideration (2) $ 2,923 $ — $ — $ 2,923 $ 2,875 $ — $ — $ 2,875 Deferred compensation liability $ 8,843 $ 8,843 $ — $ — $ 7,893 $ 7,893 $ — $ — (1) Included in cash and cash equivalents on the accompanying condensed consolidated balance sheets. (2) Assuming the achievement of the applicable performance criteria, the Company anticipates these earn-out
Schedule of Reconciliation of Contingent Consideration Measured at Fair Value on Recurring Basis	(2) Assuming the achievement of the applicable performance criteria, the Company anticipates these earn-out March 31, December 31, Beginning balance $ 2,875 $ — Contingent consideration in connection with acquisitions — 2,674 Change in fair value of contingent consideration 48 201 Payments of contingent consideration — — Ending balance $ 2,923 $ 2,875

Stock-Based Compensation Plans

Stock-Based Compensation Plans (Tables)	3 Months Ended
Stock-Based Compensation Plans (Tables)	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Outstanding Awards Under 2013 Omnibus Equity Incentive Plan	Activity under the 2013 Plan consisted of the following (dollars in thousands, except per share data): RSA Grants to Non-employee RSU Grants RSU Grants Total Weighted- Nonvested shares at December 31, 2018 27,096 471,782 392,697 891,575 $ 27.59 Granted February 2019 — 204,060 7,731 211,791 Total Granted — 204,060 7,731 211,791 39.45 Vested (1) — (152,816 ) (137,580 ) (290,396 ) 21.74 Transferred — (4,915 ) 4,915 — 28.80 Forfeited/canceled — (3,277 ) (11,767 ) (15,044 ) 32.17 Nonvested shares at March 31, 2019 (2) 27,096 514,834 255,996 797,926 $ 32.78 Unrecognized stock-based compensation expense as of March 31, 2019 (3) $ 182 $ 16,149 $ 8,221 $ 24,552 Weighted average remaining vesting period (years) as of March 31, 2019 0.81 3.92 3.27 3.68 (1) Includes vested shares delivered subsequent to March 31, 2019. (2) Nonvested RSUs will be settled through the issuance of new shares of common stock. (3) The total unrecognized compensation expense is expected to be recognized over a weighted-average period of approximately 3.68 years.
Schedule of Future Share Settlements	Future share settlements of fully vested DSUs by year consisted of the following: March 31, 2021 60,373 2022 281,193 341,566
Stock-Based Compensation Expense	Components of stock-based compensation are included in selling, general and administrative expense in the condensed consolidated statements of net and comprehensive income consisted of the following (in thousands): Three Months Ended 2019 2018 Employee stock purchase plan $ 30 $ 39 RSAs – non-employee 170 111 RSUs – employees 1,345 953 RSUs – independent contractors (1) 796 1,510 $ 2,341 $ 2,613 (1) The Company grants RSUs to independent contractors (i.e. investment sales and financing professionals), who are considered non-employees. No. 2018-07 non-employee

Income Taxes (Tables)

Income Taxes (Tables)	3 Months Ended
Income Taxes (Tables)	Mar. 31, 2019
Income Tax Disclosure [Abstract]
Components of Provision for Income Taxes and Income before Provision for Income Taxes	The provision for income taxes differs from the amount computed by applying the U.S. federal statutory rate to income before provision for income taxes and consisted of the following (dollars in thousands): Three Months Ended March 31, 2019 2018 Amount Rate Amount Rate Income tax expense at the federal statutory rate $ 4,472 21.0 % $ 5,106 21.0 % State income tax expense, net of federal benefit 894 4.2 % 1,097 4.5 % Windfall tax benefits, net related to stock-based compensation (265 ) (1.2 )% (217 ) (0.9 )% Change in valuation allowance 259 1.2 % 40 0.2 % Permanent and other items (1) 297 1.4 % 276 1.1 % $ 5,657 26.6 % $ 6,302 25.9 % (1) Permanent items relate principally to compensation charges and meals and entertainment.

Earnings per Share (Tables)

Earnings per Share (Tables)	3 Months Ended
Earnings per Share (Tables)	Mar. 31, 2019
Earnings Per Share [Abstract]
Computation of Basic and Diluted Earnings Per Share, Including Antidilutive Securities Excluded from Computation of Earnings Per Share	Basic and diluted earnings per share for the three months ended March 31, 2019 and 2018, respectively consisted of the following (in thousands, except per share data): Three Months Ended 2019 2018 Numerator (Basic and Diluted): Net income $ 15,638 $ 18,011 Denominator: Basic Weighted average common shares issued and outstanding 38,996 38,547 Deduct: Unvested RSAs (1) (27 ) (31 ) Add: Fully vested DSUs (2) 342 579 Weighted Average Common Shares Outstanding 39,311 39,095 Basic earnings per common share $ 0.40 $ 0.46 Diluted Weighted Average Common Shares Outstanding from above 39,311 39,095 Add: Dilutive effect of RSUs, RSAs & ESPP 204 155 Weighted Average Common Shares Outstanding 39,515 39,250 Diluted earnings per common share $ 0.40 $ 0.46 Antidilutive shares excluded from diluted earnings per common share (3) 212 291 (1) RSAs were issued and outstanding to the non-employee one-year (2) Shares are included in weighted average common shares outstanding as the shares are fully vested but have not yet been delivered. See Note 12 – “Stock-Based Compensation Plans” for additional information. (3) Primarily pertaining to RSU grants to the Company’s employees and independent contractors.

Description of Business and B_3

Description of Business and Basis of Presentation - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019Office
Class of Stock [Line Items]
Number of offices in the United States and Canada	80
Formation date	2013-06
Percentage of common stock distributed	80.00%
IPO MMI [Member]
Class of Stock [Line Items]
IPO completion date	Oct. 30, 2013

Accounting Policies and Recen_2

Accounting Policies and Recent Accounting Pronouncements - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019USD ($)Office	Mar. 31, 2018Office	Jan. 01, 2019USD ($)	Dec. 31, 2018USD ($)
Accounting Policies [Line Items]
Commission's receivable settled period	10 days
Number of offices \| Office	80
Operating lease right-of-use assets	$ 83,913,000			$ 0
Operating lease liabilities	75,852,000
Prepaid Rent Reclassified to Other Assets, Current	6,031,000			6,368,000
Marketable securities, available for sale	$ 196,103,000			$ 220,645,000
Customer Concentration Risk [Member] \| Total revenues [Member]
Accounting Policies [Line Items]
Concentration risk percentage	10.00%	10.00%
Customer Concentration Risk [Member] \| Commissions receivable [Member]
Accounting Policies [Line Items]
Concentration risk percentage	10.00%	10.00%
Geographic Concentration Risk [Member] \| Total revenues [Member]
Accounting Policies [Line Items]
Concentration risk percentage	10.00%	10.00%
Number of offices \| Office	0	0
Accounting Standards Update 2016-02 [Member]
Accounting Policies [Line Items]
Operating lease right-of-use assets			$ 76,700,000
Operating lease liabilities			76,700,000
Prepaid Rent Reclassified to Other Assets, Current			462,000
Accounting Standards Update 2016-02 [Member] \| Deferred rent reclassified to Operating Lease ROU Asset [Member]
Accounting Policies [Line Items]
Operating lease right-of-use assets			5,600,000
Accounting Standards Update 2016-02 [Member] \| Prepaid rent reclassified to Operating Lease ROU Asset [Member]
Accounting Policies [Line Items]
Operating lease right-of-use assets			$ 13,400,000
Accounting Standards Update 2018-13 [Member]
Accounting Policies [Line Items]
Contingent consideration liability	$ 2,900,000
Average AA+ Credit Rating [Member] \| Accounting Standards Update 2016-13 [Member]
Accounting Policies [Line Items]
Marketable securities, available for sale	$ 196,100,000
Maximum [Member] \| Geographic Concentration Risk [Member] \| Total revenues [Member] \| International Revenues [Member]
Accounting Policies [Line Items]
Concentration risk percentage	1.00%	1.00%

Property and Equipment, Net - S

Property and Equipment, Net - Schedule of Property and Equipment, Net (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Property, Plant and Equipment [Line Items]
Less: accumulated depreciation and amortization	$ (26,356)	$ (25,104)
Property and equipment, net	19,937	19,550
Computer software and hardware equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	21,420	20,427
Furniture, fixtures, and equipment [Member]
Property, Plant and Equipment [Line Items]
Property and equipment	$ 24,873	$ 24,227

Property and Equipment, Net - A

Property and Equipment, Net - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Property, Plant and Equipment [Abstract]
Fully depreciated computer software and hardware equipment and furniture, fixtures and equipment write-off	$ 233,000	$ 784,000
Property and equipment additions incurred but not yet paid	$ 473,000	$ 180,000

Operating Leases - Additional I

Operating Leases - Additional Information (Detail) $ in Millions	Mar. 31, 2019USD ($)
Leases [Abstract]
Operating lease right-of-use assets	$ 89
Operating lease right-of-use assets, accumulated amortization	$ 5.1

Operating Leases - Schedule of

Operating Leases - Schedule of Operating Lease Cost (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Operating lease cost:
Lease cost	$ 5,909
Variable lease cost	1,206
Sublease income	(88)
Total operating lease cost	$ 7,027

Operating Leases - Schedule o_2

Operating Leases - Schedule of Future Minimum Lease Payments Under Non-cancelable Operating Leases (Detail) $ in Thousands	Mar. 31, 2019USD ($)
Leases, Operating [Abstract]
Remainder of 2019	$ 15,233
2020	19,376
2021	16,907
2022	12,364
2023	8,778
Thereafter	10,554
Total future minimum lease payments	83,212
Less imputed interest	(7,360)
Present value of operating lease liabilities	$ 75,852

Operating Leases - Schedule o_3

Operating Leases - Schedule of Supplemental Cash Flow Information and Noncash Activity Related to Operating Leases (Detail) $ in Thousands	3 Months Ended
	Mar. 31, 2019USD ($)
Operating cash flow information:
Cash paid for amounts included in the measurement of operating lease liabilities	$ 4,842
ROU assets and operating lease liabilities in connection with adoption of new lease standard	76,735
Reclassification of prepaid rent and deferred rent to ROU assets in connection with adoption of new lease standard	7,801
ROU assets obtained in exchange for operating lease liabilities	3,227
Initial direct costs related to ROU assets	$ 1,306

Operating Leases - Schedule o_4

Operating Leases - Schedule of Other Information Related to Operating Leases (Detail)	3 Months Ended
	Mar. 31, 2019
Leases, Operating [Abstract]
Weighted average remaining operating lease term	4 years 9 months
Weighted average discount rate	3.90%

Investments in Marketable Sec_3

Investments in Marketable Securities - Schedule of Amortized Cost and Fair Value of Marketable Securities, Available-for-Sale, by Type of Security (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	$ 195,787	$ 221,454
Fair Value	196,103	220,645
Short-term investments [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	121,050	137,532
Gross Unrealized Gains	35	7
Gross Unrealized Losses	(26)	(103)
Fair Value	121,059	137,436
Short-term investments [Member] \| U.S. Treasuries [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	104,049	121,252
Gross Unrealized Gains	35	7
Gross Unrealized Losses	(10)	(79)
Fair Value	104,074	121,180
Short-term investments [Member] \| U.S. Government Sponsored Entities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	0	3,512
Gross Unrealized Gains	0	0
Gross Unrealized Losses	0	(7)
Fair Value	0	3,505
Short-term investments [Member] \| Corporate debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	16,196	11,962
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(12)	(11)
Fair Value	16,184	11,951
Short-term investments [Member] \| Asset-backed securities and other [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	805	806
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(4)	(6)
Fair Value	801	800
Long-term marketable securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	74,737	83,922
Gross Unrealized Gains	462	143
Gross Unrealized Losses	(155)	(856)
Fair Value	75,044	83,209
Long-term marketable securities [Member] \| U.S. Treasuries [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	33,560	44,997
Gross Unrealized Gains	164	128
Gross Unrealized Losses	(54)	(115)
Fair Value	33,670	45,010
Long-term marketable securities [Member] \| U.S. Government Sponsored Entities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	1,519	1,569
Gross Unrealized Gains	0	0
Gross Unrealized Losses	(40)	(62)
Fair Value	1,479	1,507
Long-term marketable securities [Member] \| Corporate debt securities [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	33,996	32,467
Gross Unrealized Gains	264	3
Gross Unrealized Losses	(55)	(633)
Fair Value	34,205	31,837
Long-term marketable securities [Member] \| Asset-backed securities and other [Member]
Schedule of Available-for-sale Securities [Line Items]
Amortized Cost	5,662	4,889
Gross Unrealized Gains	34	12
Gross Unrealized Losses	(6)	(46)
Fair Value	$ 5,690	$ 4,855

Investments in Marketable Sec_4

Investments in Marketable Securities - Amortized Cost and Fair Value of Investments in Available for Sale Securities (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Available-for-sale Securities, Continuous Unrealized Loss Position [Abstract]
Available for sale securities continuous unrealized loss position for less than 12 months, unrealized loss	$ (14)	$ (576)
Available for sale securities continuous unrealized loss position for 12 months or longer, unrealized loss	(167)	(383)
Available for sale securities continuous unrealized loss position for less than 12 months, fair value	58,647	127,326
Available for sale securities continuous unrealized loss position for 12 months or longer, fair value	$ 13,996	$ 30,609

Investments in Marketable Sec_5

Investments in Marketable Securities - Gross Realized Gains and Losses from Sale of Available for Sale Securities (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Gross realized gains	$ 35	$ 0
Gross realized losses	$ (47)	$ 0

Investments in Marketable Sec_6

Investments in Marketable Securities - Schedule of Amortized Cost and Fair Value of Marketable Securities, Available-for-Sale, by Contractual Maturity (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Investments, Debt and Equity Securities [Abstract]
Due in one year or less, Amortized Cost	$ 121,050	$ 137,532
Due after one year through five years, Amortized Cost	53,339	61,875
Due after five years through ten years, Amortized Cost	16,348	17,310
Due after ten years, Amortized Cost	5,050	4,737
Amortized Cost	195,787	221,454
Due in one year or less, Fair Value	121,059	137,436
Due after one year through five years, Fair Value	53,600	61,846
Due after five years through ten years, Fair Value	16,432	16,747
Due after ten years, Fair Value	5,012	4,616
Total Fair Value	$ 196,103	$ 220,645
Weighted average contractual maturity	1 year 10 months 24 days	1 year 9 months 18 days

Goodwill and Other Intangible_3

Goodwill and Other Intangible Assets - Summary of Goodwill and Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Jan. 01, 2018
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill, gross carrying amount	$ 11,459	$ 11,459
Intangible assets, gross carrying amount	4,240	4,240
Goodwill and intangible assets, gross carrying amount, total	15,699	15,699
Intangible assets, accumulated amortization	(566)	(314)
Goodwill, net book value	11,459	11,459
Intangible assets, net book value	3,674	3,926	$ 0	$ 0
Goodwill and intangible assets, net book value	$ 15,133	$ 15,385

Goodwill and Other Intangible_4

Goodwill and Other Intangible Assets - Summary of Net Change in Carrying Value of Intangible Assets (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Finite-Lived Intangible Assets, Net [Abstract]
Beginning balance	$ 3,926	$ 0
Additions from acquisitions	0	0
Amortization	(252)	0
Ending balance	$ 3,674	$ 0

Goodwill and Other Intangible_5

Goodwill and Other Intangible Assets - Schedule of Estimated Amortization Expense for Intangible Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Mar. 31, 2018	Jan. 01, 2018
Finite-Lived Intangible Assets, Net, Amortization Expense, Fiscal Year Maturity [Abstract]
Remainder of 2019	$ 618
2020	817
2021	734
2022	633
2023	535
Thereafter	337
Total	$ 3,674	$ 3,926	$ 0	$ 0

Selected Balance Sheet Data - S

Selected Balance Sheet Data - Schedule of Other Assets (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Other Assets [Line Items]
Other assets Current	$ 6,031	$ 6,368
Other assets Non-Current	39,948	31,778
Mortgage servicing rights [Member]
Other Assets [Line Items]
Other assets Current	0	0
Other assets Non-Current	2,203	2,209
Due from independent contractors, net [Member]
Other Assets [Line Items]
Other assets Current	2,335	3,831
Other assets Non-Current	35,421	27,157
Security deposits [Member]
Other Assets [Line Items]
Other assets Current	0	0
Other assets Non-Current	1,212	1,196
Employee Notes Receivable [Member]
Other Assets [Line Items]
Other assets Current	151	156
Other assets Non-Current	263	370
Customer trust accounts and other [Member]
Other Assets [Line Items]
Other assets Current	3,545	2,381
Other assets Non-Current	$ 849	$ 846

Selected Balance Sheet Data -_2

Selected Balance Sheet Data - Schedule of Other Assets (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Other Assets [Line Items]
Allowance of doubtful accounts	$ 407		$ 514
Recovery for bad debt expense	(104)	$ (106)
Write-off receivables	3	51
Reduction of accrued bonuses and other employee related expenses in settlement of employee notes receivable	$ 60	$ 131
Minimum [Member]
Other Assets [Line Items]
Notes receivable due period	1 year
Maximum [Member]
Other Assets [Line Items]
Notes receivable due period	5 years

Selected Balance Sheet Data -_3

Selected Balance Sheet Data - Summary of Net Change in Carrying Value of MSRs (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Servicing Asset at Amortized Cost, Balance [Roll Forward]
Beginning balance	$ 2,209	$ 0
Additions from acquisition	0	2,121
Additions	129	391
Amortization	(135)	(303)
Ending balance	$ 2,203	$ 2,209

Selected Balance Sheet Data - A

Selected Balance Sheet Data - Additional Information (Detail)	Jan. 01, 2019	Jan. 01, 2018	Jan. 01, 2014	Mar. 31, 2019USD ($)Installments	Mar. 31, 2018USD ($)	Dec. 31, 2018USD ($)	Mar. 31, 2013USD ($)
Schedule Of Accrued Expenses [Line Items]
Servicing portfolio of commercial real estate loans, unpaid principal balance				$ 1,600,000,000		$ 1,600,000,000
SARs frozen liability amount				17,630,000		19,299,000
Interest expense				$ 349,000	$ 360,000
Maximum payment deferral period for certain commissions payable				3 years
Mortgage servicing rights [Member]
Schedule Of Accrued Expenses [Line Items]
Escrow Funds				$ 2,200,000		$ 2,100,000
SARs [Member]
Schedule Of Accrued Expenses [Line Items]
SARs frozen liability amount							$ 20,000,000
SARs liability frozen value date				Mar. 31, 2013
SARs liability number of annual installments \| Installments				10
SARs liability interest accrual commencement date				Jan. 1, 2014
SARs liability interest accrual rates	4.684%	4.409%
Interest expense				$ 226,000	225,000
Treasury note term			10 years
Base spread on SARs liability variable rate			2.00%
Estimated payouts description				Estimated payouts within the next twelve months for participants that have separated from service have been classified as current.
Payments made during the period				$ 1,700,000	1,500,000
Deferred Compensation Liability [Member]
Schedule Of Accrued Expenses [Line Items]
Estimated payouts description				Estimated payouts within the next twelve months for participants that have separated from service have been classified as current.
Deferred Compensation Liability, Minimum Payout Period				2 years
Deferred Compensation Liability, Maximum Payout Period				15 years
Fair value of deferred compensation plan assets				110.00%
Payments made during the period				$ 315,000	$ 193,000

Selected Balance Sheet Data - C

Selected Balance Sheet Data - Components of Deferred Compensation and Commissions (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Stock appreciation rights ("SARs") liability	$ 1,969	$ 1,810
Deferred compensation liability	1,450	1,288
Deferred compensation and commissions, current	25,923	47,910
Stock appreciation rights ("SARs") liability	17,630	19,299
Deferred compensation liability	7,393	6,605
Deferred compensation and commissions, non-current	36,906	49,887
Current [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Commissions payable to investment sales and financing professionals	22,504	44,812
Non-Current [Member]
Deferred Compensation Arrangement with Individual, Share-based Payments [Line Items]
Commissions payable to investment sales and financing professionals	$ 11,883	$ 23,983

Selected Balance Sheet Data -_4

Selected Balance Sheet Data - Summary of Net Change in Carrying Value of Assets Held in Rabbi Trust and Deferred Compensation Liability (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Balance Sheet Related Disclosures [Abstract]
Increase in the carrying value of the assets held in the rabbi trust	$ 703	$ 14
Increase in the net carrying value of the deferred compensation obligation	$ 685	$ 0

Selected Balance Sheet Data -_5

Selected Balance Sheet Data - Summary of Deferred Rent and Other Liabilities (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Deferred Rent And Other Liabilities [Abstract]
Deferred rent and other	$ 0	$ 5,445
Contingent consideration	2,097	2,054
Deferred rent and other liabilities	$ 2,097	$ 7,499

Selected Balance Sheet Data -_6

Selected Balance Sheet Data - Summary of Deferred Rent and Other Liabilities (Parenthetical) (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018
Accounts Payable and Accrued Liabilities [Member]
Deferred Rent and other liabilities [Line Items]
Contingent consideration, current	$ 826	$ 821

Notes Payable to Former Stock_2

Notes Payable to Former Stockholders - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019
Restricted Stock - Notes Payable [Member]
Debt Instrument [Line Items]
Unsecured notes interest rate	5.00%
Unsecured notes maturity date	Jun. 30, 2020
SARs - Notes Payable [Member]
Debt Instrument [Line Items]
Unsecured notes interest rate	5.00%
Unsecured notes maturity date	Jun. 30, 2020

Related-Party Transactions - Ad

Related-Party Transactions - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Related Party Transaction [Line Items]
Operating lease cost	$ 5,909,000
Aggregate principal amount for employee notes receivable	414,000		$ 526,000
MMC [Member]
Related Party Transaction [Line Items]
Real estate brokerage commissions and financing fees from transactions with subsidiaries of Marcus & Millichap Company	882,000	$ 2,600,000
Commission expenses for transactions with subsidiaries of Marcus & Millichap Company	522,000	1,500,000
Operating lease cost	$ 333,000	253,000
Lease expiration date	May 31, 2022
Accounts payable and other liabilities - related party	$ 103,000		$ 101,000
MMC [Member] \| Transition Services Agreement [Member]
Related Party Transaction [Line Items]
Selling, general and administrative expense	$ 43,000	$ 72,000
George M. Marcus [Member]
Related Party Transaction [Line Items]
Beneficial ownership percentage	40.00%

Fair Value Measurements - Sched

Fair Value Measurements - Schedule of Assets and Liabilities at Fair Value on Recurring Basis (Detail) - USD ($) $ in Thousands	Mar. 31, 2019	Dec. 31, 2018	Jan. 01, 2018
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trust	$ 8,939	$ 8,268
Marketable securities, available for sale	196,103	220,645
Deferred compensation liability	8,843	7,893
Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	121,059	137,436
Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	75,044	83,209
U.S. Treasuries [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	104,074	121,180
U.S. Treasuries [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	33,670	45,010
U.S. Government Sponsored Entities [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	3,505
U.S. Government Sponsored Entities [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	1,479	1,507
Corporate debt securities [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	16,184	11,951
Corporate debt securities [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	34,205	31,837
Asset-backed securities and other [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	801	800
Asset-backed securities and other [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	5,690	4,855
Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	172,742	164,725
Recurring [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	121,059	137,436
Recurring [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	75,044	83,209
Recurring [Member] \| Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	4,997	1,599
Recurring [Member] \| Money market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	167,745	163,126
Recurring [Member] \| Assets held in rabbi trust [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trust	8,939	8,268
Recurring [Member] \| U.S. Treasuries [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	104,074	121,180
Recurring [Member] \| U.S. Treasuries [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	33,670	45,010
Recurring [Member] \| U.S. Government Sponsored Entities [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	3,505
Recurring [Member] \| U.S. Government Sponsored Entities [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	1,479	1,507
Recurring [Member] \| Corporate debt securities [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	16,184	11,951
Recurring [Member] \| Corporate debt securities [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	34,205	31,837
Recurring [Member] \| Asset-backed securities and other [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	801	800
Recurring [Member] \| Asset-backed securities and other [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	5,690	4,855
Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liability	8,843	7,893
Level 1 [Member] \| Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	167,745	164,725
Level 1 [Member] \| Recurring [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	104,074	121,180
Level 1 [Member] \| Recurring [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	33,670	45,010
Level 1 [Member] \| Recurring [Member] \| Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	1,599
Level 1 [Member] \| Recurring [Member] \| Money market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	167,745	163,126
Level 1 [Member] \| Recurring [Member] \| Assets held in rabbi trust [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trust	0	0
Level 1 [Member] \| Recurring [Member] \| U.S. Treasuries [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	104,074	121,180
Level 1 [Member] \| Recurring [Member] \| U.S. Treasuries [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	33,670	45,010
Level 1 [Member] \| Recurring [Member] \| U.S. Government Sponsored Entities [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 1 [Member] \| Recurring [Member] \| U.S. Government Sponsored Entities [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 1 [Member] \| Recurring [Member] \| Corporate debt securities [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 1 [Member] \| Recurring [Member] \| Corporate debt securities [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 1 [Member] \| Recurring [Member] \| Asset-backed securities and other [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 1 [Member] \| Recurring [Member] \| Asset-backed securities and other [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liability	0	0
Level 2 [Member] \| Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	4,997	0
Level 2 [Member] \| Recurring [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	16,985	16,256
Level 2 [Member] \| Recurring [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	41,374	38,199
Level 2 [Member] \| Recurring [Member] \| Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	4,997	0
Level 2 [Member] \| Recurring [Member] \| Money market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Level 2 [Member] \| Recurring [Member] \| Assets held in rabbi trust [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trust	8,939	8,268
Level 2 [Member] \| Recurring [Member] \| U.S. Treasuries [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 2 [Member] \| Recurring [Member] \| U.S. Treasuries [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 2 [Member] \| Recurring [Member] \| U.S. Government Sponsored Entities [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	3,505
Level 2 [Member] \| Recurring [Member] \| U.S. Government Sponsored Entities [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	1,479	1,507
Level 2 [Member] \| Recurring [Member] \| Corporate debt securities [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	16,184	11,951
Level 2 [Member] \| Recurring [Member] \| Corporate debt securities [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	34,205	31,837
Level 2 [Member] \| Recurring [Member] \| Asset-backed securities and other [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	801	800
Level 2 [Member] \| Recurring [Member] \| Asset-backed securities and other [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	5,690	4,855
Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Deferred compensation liability	0	0
Level 3 [Member] \| Recurring [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Level 3 [Member] \| Recurring [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 3 [Member] \| Recurring [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 3 [Member] \| Recurring [Member] \| Commercial Paper [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Level 3 [Member] \| Recurring [Member] \| Money market funds [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Cash and cash equivalents	0	0
Level 3 [Member] \| Recurring [Member] \| Assets held in rabbi trust [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Assets held in rabbi trust	0	0
Level 3 [Member] \| Recurring [Member] \| U.S. Treasuries [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 3 [Member] \| Recurring [Member] \| U.S. Treasuries [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 3 [Member] \| Recurring [Member] \| U.S. Government Sponsored Entities [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 3 [Member] \| Recurring [Member] \| U.S. Government Sponsored Entities [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 3 [Member] \| Recurring [Member] \| Corporate debt securities [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 3 [Member] \| Recurring [Member] \| Corporate debt securities [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 3 [Member] \| Recurring [Member] \| Asset-backed securities and other [Member] \| Short-term investments [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Level 3 [Member] \| Recurring [Member] \| Asset-backed securities and other [Member] \| Long-term marketable securities [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Marketable securities, available for sale	0	0
Contingent Consideration [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	2,923	2,875	$ 0
Contingent Consideration [Member] \| Level 1 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0	0
Contingent Consideration [Member] \| Level 2 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	0	0
Contingent Consideration [Member] \| Level 3 [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Contingent consideration	$ 2,923	$ 2,875

Fair Value Measurements - Sch_2

Fair Value Measurements - Schedule of Assets and Liabilities at Fair Value on Recurring Basis (Parenthetical) (Detail) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Recurring [Member] \| Maximum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out period for contingent consideration	7 years
Recurring [Member] \| Minimum [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Earn-out period for contingent consideration	3 years
Contingent Consideration [Member]
Fair Value, Assets and Liabilities Measured on Recurring and Nonrecurring Basis [Line Items]
Beginning balance	$ 2,875	$ 0
Contingent consideration in connection with acquisitions	0	2,674
Change in fair value of contingent consideration	48	201
Payments of contingent consideration	0	0
Ending balance	$ 2,923	$ 2,875

Fair Value Measurements - Addit

Fair Value Measurements - Additional Information (Detail)	Mar. 31, 2019USD ($)
Fair Value Disclosures [Abstract]
Fair value, assets, level 1 to level 2 transfers, amount	$ 0
Fair value, assets, level 2 to level 1 transfers, amount	0
Fair value, assets, level 1 to level 3 transfers, amount	0
Fair value, assets, level 3 to level 1 transfers, amount	0
Fair value, assets, level 2 to level 3 transfers, amount	0
Fair value, assets, level 3 to level 2 transfers, amount	$ 0

Stockholders' Equity - Addition

Stockholders' Equity - Additional Information (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Equity [Abstract]
Common stock, shares issued	39,042,434	38,814,464
Common stock, shares outstanding	39,042,434	38,814,464
Common stock share, par value	$ 0.0001	$ 0.0001
Preferred stock, shares authorized	25,000,000	25,000,000
Preferred stock, par value	$ 0.0001	$ 0.0001
Preferred stock, shares issued	0	0
Preferred stock, shares outstanding	0	0
Undistributed earnings of foreign subsidiary	$ 0

Stock-Based Compensation Plan_2

Stock-Based Compensation Plans - 2013 Omnibus Equity Incentive Plan - Award Limitations - Additional Information (Detail)	Mar. 31, 2019Incentive_Planshares
Share-based Compensation Arrangement by Share-based Payment Award, Additional General Disclosures [Abstract]
Common stock shares available for grant \| shares	5,353,815
Number of active equity plans \| Incentive_Plan	1
Equity incentive plan amendment, shareholder approval date	2017-05
Equity incentive plan amendment, board of directors approval date	2017-02

Stock-Based Compensation Plan_3

Stock-Based Compensation Plans - 2013 Omnibus Equity Incentive Plan - Additional Information (Detail)	3 Months Ended
	Mar. 31, 2019shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vested shares	290,396
2013 Omnibus Equity Incentive Plan [Member] \| Options [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued under compensation plan	0
Number of shares outstanding under compensation plan	0
2013 Omnibus Equity Incentive Plan [Member] \| Restricted Stock Awards [Member] \| Minimum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	1 year
2013 Omnibus Equity Incentive Plan [Member] \| Restricted Stock Awards [Member] \| Maximum [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	3 years
2013 Omnibus Equity Incentive Plan [Member] \| Restricted Stock Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period	5 years
Vested shares	290,396
Number of common stock shares withheld to pay employee statutory withholding taxes	56,426
Shares of common stock delivered	284,396
2013 Omnibus Equity Incentive Plan [Member] \| SARs [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued under compensation plan	0
Number of shares outstanding under compensation plan	0
2013 Omnibus Equity Incentive Plan [Member] \| Performance Shares [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued under compensation plan	0
Number of shares outstanding under compensation plan	0
2013 Omnibus Equity Incentive Plan [Member] \| Performance Units [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares issued under compensation plan	0
Number of shares outstanding under compensation plan	0

Stock-Based Compensation Plan_4

Stock-Based Compensation Plans - Outstanding Awards Under 2013 Omnibus Equity Incentive Plan (Detail) - USD ($) $ / shares in Units, $ in Thousands	1 Months Ended	3 Months Ended
	Feb. 28, 2018	Mar. 31, 2019
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares at December 31, 2018		891,575
Granted	211,791	211,791
Vested		(290,396)
Transferred		0
Forfeited/canceled		(15,044)
Nonvested shares at March 31, 2019		797,926
Unrecognized stock-based compensation expense as of March 31, 2019		$ 24,552
Weighted average remaining vesting period (years) as of March 31, 2019		3 years 8 months 4 days
Nonvested weighted average grant date fair value per share, beginning balance		$ 27.59
Weighted average grant date fair value per share, Granted		39.45
Weighted average grant date fair value, Vested		21.74
Weighted average grant date fair value, Transferred		28.80
Weighted average grant date fair value, Forfeited/canceled		32.17
Nonvested weighted average grant date fair value per share, ending balance		$ 32.78
Restricted Stock Awards [Member] \| Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares at December 31, 2018		27,096
Granted	0	0
Vested		0
Transferred		0
Forfeited/canceled		0
Nonvested shares at March 31, 2019		27,096
Unrecognized stock-based compensation expense as of March 31, 2019		$ 182
Weighted average remaining vesting period (years) as of March 31, 2019		9 months 21 days
Restricted Stock Units [Member] \| Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares at December 31, 2018		471,782
Granted	204,060	204,060
Vested		(152,816)
Transferred		(4,915)
Forfeited/canceled		(3,277)
Nonvested shares at March 31, 2019		514,834
Unrecognized stock-based compensation expense as of March 31, 2019		$ 16,149
Weighted average remaining vesting period (years) as of March 31, 2019		3 years 11 months 1 day
Restricted Stock Units [Member] \| Independent Contractors, Prior to Adoption of New Standard [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Nonvested shares at December 31, 2018		392,697
Granted	7,731	7,731
Vested		(137,580)
Transferred		4,915
Forfeited/canceled		(11,767)
Nonvested shares at March 31, 2019		255,996
Unrecognized stock-based compensation expense as of March 31, 2019		$ 8,221
Weighted average remaining vesting period (years) as of March 31, 2019		3 years 3 months 7 days

Stock-Based Compensation Plan_5

Stock-Based Compensation Plans - Outstanding Awards Under 2013 Omnibus Equity Incentive Plan (Parenthetical) (Detail)	3 Months Ended
	Mar. 31, 2019
Disclosure of Compensation Related Costs, Share-based Payments [Abstract]
Unrecognized stock-based compensation expenses recognition period	3 years 8 months 4 days

Stock-Based Compensation Plan_6

Stock-Based Compensation Plans - Employee Stock Purchase Plan - Additional Information (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Dec. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock shares available for issuance	5,353,815
Unrecognized stock-based compensation expense	$ 24,552,000
Unrecognized stock-based compensation expenses recognition period	3 years 8 months 4 days
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
ESPP offering period description	The offering periods generally start on the first trading day on or after May 15 and November 15 of each year.
Length of purchase intervals	6 months
ESPP discount rate	10.00%
Common stock reserved and available for issuance	366,667
Common stock shares available for issuance	225,894	225,894
Unrecognized stock-based compensation expense	$ 14,000
Unrecognized stock-based compensation expenses recognition period	1 month 13 days
Employee Stock Purchase Plan - Annual Available for Issuance Share Increase [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock available for future issuance authorized annual share increase	366,667
Common stock available for future issuance authorized annual percentage increase	1.00%
ESPP description	The ESPP provides for annual increases in the number of shares available for issuance under the ESPP, equal to the least of (i) 366,667 shares, (ii) 1% of the outstanding shares on such date, or (iii) an amount determined by the compensation committee of the Company's board of directors.

Stock-Based Compensation Plan_7

Stock-Based Compensation Plans - Amendments to Restricted Stock and SARs - Additional Information (Detail) - Deferred stock units [Member]	Oct. 30, 2013
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
DSU settlement to common stock percentage	20.00%
DSU settlement into actual stock issued term	5 years
Employee termination age	67 years
Percentage of shares of deferred stock units settled in the event of death or termination after reaching age 67	100.00%

Stock-Based Compensation Plan_8

Stock-Based Compensation Plans - Schedule of Future Share Settlements (Detail) - 2013 Omnibus Equity Incentive Plan [Member] - Deferred stock units [Member]	Mar. 31, 2019shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
2021	60,373
2022	281,193
Total	341,566

Stock-Based Compensation Plan_9

Stock-Based Compensation Plans - Stock-Based Compensation Expense (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 2,341	$ 2,613
Employee Stock Purchase Plan [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	30	39
Restricted Stock Awards [Member] \| Non-Employee Directors [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	170	111
Restricted Stock Units [Member] \| Employees [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	1,345	953
Restricted Stock Units [Member] \| Independent Contractors, Prior to Adoption of New Standard [Member]
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Allocated share-based compensation expense	$ 796
Share-based compensation expense - Independent contractors		$ 1,510

Income Taxes - Additional Infor

Income Taxes - Additional Information (Detail)	3 Months Ended
Income Taxes - Additional Information (Detail)	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Provision for income taxes, rate	26.60%	25.90%

Income Taxes - Components of Pr

Income Taxes - Components of Provision for Income Taxes and Income before Provision for Income Taxes (Detail) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Income Tax Disclosure [Abstract]
Income tax expense at the federal statutory rate, amount	$ 4,472	$ 5,106
State income tax expense, net of federal benefit, amount	894	1,097
Windfall tax benefits, net related to stock-based compensation, amount	(265)	(217)
Change in valuation allowance, amount	259	40
Permanent and other items, amount	297	276
Provision for income taxes, amount	$ 5,657	$ 6,302
Income tax expense at the federal statutory rate, rate	21.00%	21.00%
State income tax expense, net of federal benefit, rate	4.20%	4.50%
Windfall tax benefits, net related to stock-based compensation, rate	(1.20%)	(0.90%)
Change in valuation allowance, rate	1.20%	0.20%
Permanent and other items, rate	1.40%	1.10%
Provision for income taxes, rate	26.60%	25.90%

Earnings per Share - Computatio

Earnings per Share - Computation of Basic and Diluted Earnings Per Share, Including Antidilutive Securities Excluded from Computation of Earnings Per Share (Detail) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018
Numerator (Basic and Diluted):
Net income	$ 15,638	$ 18,011
Denominator:
Weighted average common shares issued and outstanding	38,996	38,547
Deduct: Unvested RSAs	(27)	(31)
Add: Fully vested DSUs	342	579
Weighted Average Common Shares Outstanding	39,311	39,095
Basic earnings per common share	$ 0.40	$ 0.46
Weighted Average Common Shares Outstanding from above	39,311	39,095
Add: Dilutive effect of RSUs, RSAs & ESPP	204	155
Weighted Average Common Shares Outstanding	39,515	39,250
Diluted earnings per common share	$ 0.40	$ 0.46
Antidilutive shares excluded from diluted earnings per common share	212	291

Earnings per Share - Computat_2

Earnings per Share - Computation of Basic and Diluted Earnings Per Share, Including Antidilutive Securities Excluded from Computation of Earnings Per Share (Parenthetical) (Detail) - Restricted Stock Awards [Member] - 2013 Omnibus Equity Incentive Plan [Member]	3 Months Ended
	Mar. 31, 2019
Minimum [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Vesting period	1 year
Maximum [Member]
Earnings Per Share, Diluted, by Common Class, Including Two Class Method [Line Items]
Vesting period	3 years

Commitments and Contingencies -

Commitments and Contingencies - Additional Information Credit Agreement (Detail) - USD ($)	3 Months Ended
	Mar. 31, 2019	Mar. 31, 2018	Dec. 31, 2018
Line of Credit Facility [Line Items]
Senior secured revolving credit facility maximum borrowing capacity	$ 60,000,000
Revolving credit facility maturity date	Jun. 1, 2020
Date the Company entered into a Credit Agreement	Jun. 18, 2014
Credit agreement date	Jun. 1, 2014
Standby letters of credit borrowing capacity	$ 10,000,000
Standby letters of credit, utilized amount	$ 533,000
Credit facility interest rate description	Credit Facility will bear interest, at the Company's option, at either the (i) Base Rate (defined as the highest of (a) the Bank's prime rate, (b) the federal funds rate plus 1.5% and (c) one-monthLIBOR plus 1.5%), or (ii) at a variable rate between 0.875% and 1.125% above LIBOR, based upon the total funded debt to EBITDA ratio.
LIBOR rate duration period	1 month
Credit agreement, unused capacity, commitment fee percentage	0.10%
Interest expense	$ 349,000	$ 360,000
Credit agreement, amount outstanding	$ 0		$ 0
Credit facility covenants	(i) an EBITDAR Coverage Ratio (as defined in the Credit Agreement) of not less than 1.25:1.0 as of each quarter end, determined on a rolling four-quarter basis, (ii) total funded debt to EBITDA not greater than 2.0:1.0 as of each quarter end, determined on a rolling four-quarter basis and (iii) limits investments in foreign entities and caps certain other loans.
Minimum EBITDAR coverage ratio	1.25%
Maximum Total Funded Debt to EBITDA ratio	2.00%
Credit agreement, pledge percentage	100.00%
Compliance description	As of March 31, 2019, the Company was in compliance with all financial and non-financial covenants and has not experienced any limitation in its operations as a result of the covenants.
LIBOR [Member]
Line of Credit Facility [Line Items]
Base spread on variable rate	1.50%
Federal Funds Rate [Member]
Line of Credit Facility [Line Items]
Base spread on variable rate	1.50%
Credit Agreement [Member]
Line of Credit Facility [Line Items]
Interest expense	$ 26,000	$ 26,000
Minimum [Member] \| LIBOR [Member]
Line of Credit Facility [Line Items]
Base spread on variable rate	0.875%
Maximum [Member] \| LIBOR [Member]
Line of Credit Facility [Line Items]
Base spread on variable rate	1.125%

Commitments and Contingencies_2

Commitments and Contingencies - Additional Information Other (Detail) - USD ($)	Mar. 31, 2019	Dec. 31, 2018
Commitments and Contingencies Disclosure [Abstract]
Other commitment amount	$ 510,000	$ 1,000,000