Goodwill and Other Intangible Assets, Net

3 Months Ended

Mar. 31, 2026

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


Measurement period and currency translation adjustments	(3,751)
Balance, March 31, 2026	$	798,289

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 year ended December 31, 2025, which did not result in a goodwill impairment.

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


	March 31, 2026
	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	83,647		(45,284)		38,363		12.0
Non-contractual customers	27,168		(18,771)		8,397		4.9
Trademark and trade names	12,878		(12,678)		200		0.5

Non-compete agreements	12,390		(9,646)		2,744		3.2

Technology	9,800		(2,918)		6,882		8.9
Other	1,600		(1,429)		171		4.7
Total	$	165,723	$	(90,726)	$	74,997	10.1


	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

Intangible amortization expense for the three months ended March 31, 2026 and 2025 was $4.1 million and $4.2 million respectively. Intangible amortization is included as a part of “Depreciation and amortization” on the accompanying unaudited condensed consolidated statements of operations. Impairment charges are included in intangible amortization expense.

The estimated future amortization of definite life intangible assets as of March 31, 2026 was as follows (in thousands):


2026	$	10,051
2027	10,542
2028	6,514
2029	4,920
2030	2,775
Thereafter	21,955
Total	$	56,757