U.S. GAAP guidance — Earnings (Loss) Per Share provides guidance on the computation and presentation of earnings (loss) per share. Basic EPS excludes dilution and is computed by dividing net income (loss) available to common stockholders by the weighted-average number of shares of common stock outstanding and contingent shares for which all necessary conditions have been satisfied except for the passage of time. Net income (loss) is allocated to Newmark’s outstanding common stock, FPUs, limited partnership units and Cantor Units (see Note 2 — “Limited Partnership Interests in Newmark Holdings and BGC Holdings”).


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025			2026		2025
Basic earnings per share:
Net income (loss) available to common stockholders	$	19,698	$	20,819		$	34,117	$	12,053
Basic weighted-average shares of common stock outstanding	178,598		179,560			180,611		177,965
Basic earnings per share	$	0.11	$	0.12		$	0.19	$	0.07

Fully diluted EPS is calculated utilizing net income (loss) available to common stockholders plus net income allocations to the limited partnership interests in Newmark Holdings as the numerator. The denominator comprises Newmark’s weighted-average number of outstanding shares of Newmark common stock and, if dilutive, the weighted-average number of limited partnership interests and other contracts to issue shares of common stock, stock options and RSUs. The limited partnership interests generally are potentially exchangeable into shares of Newmark Class A common stock and are entitled to remaining earnings after the deduction for the Preferred Distribution; as a result, they are included in the fully diluted EPS computation to the extent that the effect would be dilutive.


	Three Months Ended June 30,				Six Months Ended June 30,
	2026		2025			2026		2025
Fully diluted earnings per share:
Net income (loss) available to common stockholders	$	19,698	$	20,819		$	34,117	$	12,053
Allocations of net income to limited partnership interests in Newmark Holdings, net of tax	7,441		7,954			12,632		4,048
Net income (loss) for fully diluted shares	$	27,139	$	28,773		$	46,749	$	16,101
Weighted-average shares:
Common stock outstanding	178,598		179,560			180,611		177,965


Partnership units(1)	68,992		69,512			68,550		71,684
RSUs (Treasury stock method)	3,934		3,260			4,410		3,724
Newmark exchange shares	339		282			372		297
Fully diluted weighted-average shares of common stock outstanding	251,863		252,614			253,943		253,670
Fully diluted earnings per share	$	0.11	$	0.11		$	0.18	$	0.06

(1)Partnership units collectively include FPUs, limited partnership units, and Cantor Units (see Note 2 — “Limited Partnership Interests in Newmark Holdings and BGC Holdings” for more information).

For the three and six months ended June 30, 2026, 0.8 million and 0.7 million potentially dilutive securities were excluded from the computation of fully diluted EPS because their effect would have been anti-dilutive. For the three and six months ended June 30, 2025, 0.2 million and 0.1 million potentially dilutive securities, respectively, were excluded from the computation of fully diluted EPS because their effect would have been anti-dilutive.