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Revenues from Contracts with Customers
 6 Months Ended
Jun. 30, 2026
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):
Three Months Ended June 30,Six Months Ended June 30,
2026202520262025
Revenues from contracts with customers:
Leasing and Other Commissions
$278,030 $237,262 $528,062 $445,336 
Investment sales
164,599 106,623 305,265 199,481 
Mortgage brokerage and debt placement
44,567 65,137 101,765 102,323 
Management Services
277,107 230,613 547,271 448,725 
Total$764,303 $639,635 $1,482,363 $1,195,865 
Other sources of revenue(1):
Fair value of expected net future cash flows from servicing recognized at commitment, net
$26,557 $24,747 $55,737 $46,150 
Loan originations related fees and sales premiums, net
23,513 26,946 48,926 49,026 
Servicing fees and other
74,046 67,784 147,913 133,565 
Total$888,419 $759,112 $1,734,939 $1,424,606 
(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 June 30, 2026 and December 31, 2025 was $0.9 million and $1.4 million, respectively. For the three and six months ended June 30, 2026, Newmark recorded deferred revenue of $0.3 million and $0.6 million, respectively, and recognized revenue of $0.2 million and $1.1 million, respectively, that was recorded as deferred revenue in a previous period. For the three and six months ended June 30, 2025, Newmark recorded deferred revenue of $0.6 million and $0.8 million, respectively, and recognized revenue of $0.2 million and $1.0 million, respectively, that was recorded as deferred revenue in a previous 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 June 30, 2026 and that will be recognized as revenue in future periods over the life of the customer contracts in accordance with ASC 606, are approximately $139.4 million, collectively. Over half of the remaining performance obligations as of June 30, 2026 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 June 30, 2026 are as follows (in thousands):

2026$75,607 
202739,948 
202817,928 
20295,952 
2030— 
Thereafter— 
Total$139,435