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Consolidated Statements of Comprehensive Loss - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Income Statement [Abstract]      
Commissions and fees $ 1,493,680 $ 1,377,116 $ 1,211,828
Investment income 11,204 11,921 6,727
Total revenues 1,504,884 1,389,037 1,218,555
Operating Expenses      
Colleague compensation and benefits 777,531 762,219 699,936
Outside commissions 279,711 269,829 211,418
Other operating expenses 240,282 192,366 190,267
Amortization expense 121,316 102,730 92,704
Change in fair value of contingent consideration 5,594 (4,949) 61,083
Depreciation expense 6,514 6,194 5,698
Total operating expenses 1,430,948 1,328,389 1,261,106
Operating income (loss) 73,936 60,648 (42,551)
Other Income (Expense)      
Interest expense, net (121,428) (123,644) (119,465)
Gain on divestitures 290 38,953 0
Loss on extinguishment and modification of debt (6,226) (15,113) 0
Other income (expense), net 635 (194) (718)
Total other expense (126,729) (99,998) (120,183)
Loss before income taxes and share of net earnings of equity method investee (52,793) (39,350) (162,734)
Share of net earnings of equity method investee 368 0 0
Loss before income taxes (52,425) (39,350) (162,734)
Income tax expense 1,729 1,731 1,285
Net loss (54,154) (41,081) (164,019)
Less: net loss attributable to noncontrolling interests (20,341) (16,563) (73,878)
Net loss attributable to Baldwin $ (33,813) $ (24,518) $ (90,141)
Basic loss per share (in dollars per share) $ (0.50) $ (0.39) $ (1.50)
Diluted loss per share (in dollars per share) $ (0.50) $ (0.39) $ (1.50)
Weighted-average shares of Class A common stock outstanding, basic 67,938,680 63,455,148 60,134,776
Weighted-average shares of Class A common stock outstanding, diluted 67,938,680 63,455,148 60,134,776
Net loss $ (54,154) $ (41,081) $ (164,019)
Other comprehensive income 815 0 0
Comprehensive loss (53,339) (41,081) (164,019)
Less: comprehensive loss attributable to noncontrolling interests (20,018) (16,563) (73,878)
Comprehensive loss attributable to Baldwin $ (33,321) $ (24,518) $ (90,141)