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Revenues from Contracts with Customers | 12 Months Ended
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Dec. 31, 2025
Revenue from Contract with Customer [Abstract] |
Revenues from Contracts with Customers | Revenues from Contracts with Customers The following table presents Newmark’s total revenues separately for its revenues from contracts with customers and other sources of revenues (in thousands):
|  |  |  | Year Ended December 31,
|  |  |  |  |  | 2025 |  | 2024 |  | 2023
Revenues from contracts with customers: |  |  |  |  |  |  |  |  |  |
Leasing and other commissions |  |  |  |  |  | $ | 1,002,562 |  |  | $ | 857,617 |  |  | $ | 839,595 |
Investment sales |  |  |  |  |  | 559,392 |  |  | 417,684 |  |  | 381,276 |
Mortgage brokerage and debt placement |  |  |  |  |  | 254,250 |  |  | 164,686 |  |  | 126,934 |
Management Services |  |  |  |  |  | 954,098 |  |  | 833,002 |  |  | 725,034 |
Total |  |  |  |  |  | $ | 2,770,302 |  |  | $ | 2,272,989 |  |  | $ | 2,072,839 |
Other sources of revenue(1): |  |  |  |  |  |  |  |  |  |
Fair value of expected net future cash flows from servicing recognized at commitment, net |  |  |  |  |  | $ | 122,833 |  |  | $ | 100,171 |  |  | $ | 82,082 |
Loan originations related fees and sales premiums, net |  |  |  |  |  | 110,754 |  |  | 91,645 |  |  | 69,604 |
Servicing fees and other |  |  |  |  |  | 290,135 |  |  | 273,697 |  |  | 245,843 |
Total |  |  |  |  |  | $ | 3,294,024 |  |  | $ | 2,738,502 |  |  | $ | 2,470,368 |
(1)Although these items have customers under contract, they were recorded as other sources of revenue as they were excluded from the scope of ASC 606. Disaggregation of Revenues Newmark’s chief operating decision-maker, regardless of geographic location and service line, evaluates the operating results, including revenues, of Newmark as total real estate services (see Note 3 — “Summary of Significant Accounting Policies” for further discussion). Contract Balances The timing of Newmark’s revenue recognition may differ from the timing of payment by its customers. Newmark records a receivable when revenue is recognized prior to payment and Newmark has an unconditional right to payment. Alternatively, when payment precedes the provision of the related services, Newmark records deferred revenue until the performance obligations are satisfied. Newmark’s deferred revenue primarily relates to customers paying in advance or billed in advance where the performance obligation has not yet been satisfied. Deferred revenue is recorded as a contract liability. Deferred revenue at December 31, 2025 and December 31, 2024 was $1.4 million and $1.3 million, respectively. During the years ended December 31, 2025, 2024 and 2023, Newmark recorded deferred revenue of $0.9 million, $0.7 million and $0.0 million, respectively, and recognized revenue of $1.0 million, $2.1 million and $1.7 million, respectively, that was recorded as deferred revenue at the beginning of the period. For Knotel and Deskeo, the Company’s remaining performance obligations that represent contracted customer revenues, that have not yet been recognized as revenue as of December 31, 2025 and that will be recognized as revenue in future periods over the life of the customer contracts in accordance with ASC 606, are approximately $146.0 million. Over half of the remaining performance obligations as of December 31, 2025 are scheduled to be recognized as revenue within the next twelve months, with the remaining to be recognized over the remaining life of the customer contracts, which extends through 2030. Approximate future cash flows to be received over the next five years as of December 31, 2025 are as follows (in thousands):
2026 | $ | 95,181 |
2027 | 36,073 |
2028 | 12,870 |
2029 | 1,667 |
2030 | 159 |
Thereafter | — |
Total | $ | 145,950 |

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- Definition The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts. + References Reference 1: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 7 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-7 Reference 2: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 9 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-9 Reference 3: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 10 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-10 Reference 4: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 15 -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-15 Reference 5: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (a) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 6: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (b) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 7: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (c) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 8: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (d) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 9: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 12 -Subparagraph (e) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-12 Reference 10: http://www.xbrl.org/2003/role/disclosureRef -Topic 606 -SubTopic 10 -Name Accounting Standards Codification -Section 50 -Paragraph 13 -Subparagraph (b)(2) -Publisher FASB -URI https://asc.fasb.org/1943274/2147479806/606-10-50-13 Reference 11: http://www.xbrl.org/2003/role/disclosureRef -Name Accounting Standards Codification -Topic 606 -Publisher FASB -URI https://asc.fasb.org/606/tableOfContent + Details
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