Goodwill and Other Intangible Assets, Net

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Goodwill and Other Intangible Assets, Net

The changes in the carrying amount of goodwill were as follows (in thousands):


Balance, January 1, 2024	$	776,547


Measurement period and currency translation adjustments	(5,661)
Balance, December 31, 2024	$	770,886
Acquisitions	19,810
Divestiture	(4,001)
Measurement period and currency translation adjustments	15,345
Balance, December 31, 2025	$	802,040

Goodwill is not amortized and is reviewed annually for impairment or more frequently if impairment indicators arise, in accordance with U.S. GAAP guidance on Goodwill and Other Intangible Assets. Newmark completed its annual goodwill impairment testing for the years ended December 31, 2025 and 2024, which did not result in a goodwill impairment.

Other intangible assets consisted of the following (in thousands, except weighted-average life):


	December 31, 2025
	Gross Amount		Accumulated Amortization		Net Carrying Amount		Weighted- Average Remaining Life (Years)
Indefinite life:
Trademark and trade names	$	12,850	$	—	$	12,850	N/A
License agreements (GSE)	5,390		—		5,390		N/A
Definite life:
Contractual customers	84,554		(42,748)		41,806		11.4
Non-contractual customers	24,031		(18,465)		5,566		4.0
Trademark and trade names	12,959		(12,659)		300		0.8
Non-compete agreements	12,496		(9,380)		3,116		3.2

Technology	9,800		(2,622)		7,178		9.0
Other	1,551		(1,421)		130		5.0
Total	$	163,631	$	(87,295)	$	76,336	9.9


	December 31, 2024
	Gross Amount		Accumulated Amortization		Net Carrying Amount		Weighted- Average Remaining Life (Years)
Indefinite life:
Trademark and trade names	$	12,850	$	—	$	12,850	N/A
License agreements (GSE)	5,390		—		5,390		N/A
Definite life:
Contractual customers	59,527		(30,517)		29,010		2.9
Non-contractual customers	30,131		(19,280)		10,851		7.1
Trademark and trade names	12,423		(11,628)		795		0.5
Non-compete agreements	12,423		(8,131)		4,292		3.8


Other	4,611		(3,331)		1,280		8.3
Total	$	137,355	$	(72,887)	$	64,468	3.9

Intangible amortization expense for the years ended December 31, 2025, 2024 and 2023 was $16.1 million, $19.8 million and $17.1 million respectively. Intangible amortization is included as a part of “Depreciation and amortization” on the accompanying consolidated statements of operations. Impairment charges are included in intangible amortization expense.

The estimated future amortization of definite life intangible assets as of December 31, 2025 was as follows (in thousands):


2026	$	13,883
2027	10,214
2028	6,161
2029	4,503
2030	2,336
Thereafter	20,999
Total	$	58,096