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Newmark Group , Inc. Reports Second Quarter 2021 Financial Results • • Record Second Quarter Revenues and Earnings Increased 2021 Outlook to Reflect Improving Operating Performance Lowered Fully Diluted Share Count by 19.8 Million in the Quarter Received $ 928 million Related to Nasdaq Earn - out¹ NEW YORK - August 6 , 2021 - Newmark Group , Inc. ( NASDAQ : NMRK ) ( " Newmark " or " the Company " ) , a leading full - service commercial real estate business , today reported its financial results for the quarter ended June 30 , 2021 . Barry M. Gosin , Chief Executive Officer of Newmark , commented : " Newmark generated its best - ever second quarter revenues and earnings . Our strong growth was led by a nearly 250 % increase in Capital Markets revenues , driven by the incredible talent and platform we have assembled , which capitalized on the rebounding economy . We also continued to produce robust improvement from our recurring management services and servicing businesses , which were up by 55 % year - on - year . " In addition to our strong operating results , Newmark received $ 928 million in Nasdaq stock . We used a portion of the proceeds to significantly reduce our fully diluted share count . We expect to use our strong liquidity and cash flow generation to buy back our own shares , reduce our debt , and invest in growing the Company . We aim to expand our presence in business lines and geographies where we have established infrastructure and that are benefiting from demographic tailwinds . With our solid foundation , we expect to outperform the market as industry volumes continue their recovery . " SELECT RESULTS COMPARED TO THE YEAR - EARLIER PERIOD² Highlights of Consolidated Results 2Q21 2Q20 ( USD millions , except per share data ) Revenues $ 629.9 $ 383.7 Change 64.1 % YTD 21 YTD 20 Change $ 1,133.9 $ 867.6 30.7 % GAAP income before income taxes and noncontrolling interests 727.4 0.7 NMF 782.5 19.8 3,852 % GAAP net income ( loss ) for fully diluted shares 583.7 ( 2.1 ) NMF 626.5 3.6 NMF Adjusted Earnings before noncontrolling interests and taxes ( " Pre - tax Adjusted Earnings " ) 957.8 30.9 3,000 % 1,022.9 59.2 1,628 % Post - tax Adjusted Earnings to fully diluted shareholders ( " Post - tax Adjusted Earnings " ) 789.8 26.1 2,926 % 843.5 49.8 1,594 % Adjusted EBITDA 973.9 46.1 2,013 % 1,053.2 89.9 1,072 % GAAP net income ( loss ) per fully diluted share $ 2.13 $ ( 0.01 ) NMF $ 2.30 $ 0.02 NMF Post - tax Adjusted Earnings per share ( " Adjusted Earnings Per Share " ) $ 2.89 $ 0.10 2,790 % $ 3.10 $ 0.18 1,622 % Highlights of Consolidated Results Excluding the Impact of Nasdaq and the 2021 Equity Event ( USD millions , except per share data ) 2Q21 2Q20 Change YTD 21 YTD 20 Change Revenues $ 629.9 $ 383.7 64.1 % $ 1,133.9 $ 867.6 30.7 % Pre - tax Adjusted Earnings 104.5 30.9 238.4 % 167.2 61.3 173.0 % Post - tax Adjusted Earnings 85.5 26.1 227.5 % 136.7 49.5 176.3 % Adjusted EBITDA 120.6 46.1 161.8 % 197.5 92.0 114.8 % Adjusted Earnings per share 0.31 0.10 210.0 % 0.50 0.18 177.8 % SECOND QUARTER 2021 HIGHLIGHTS • Record second quarter total revenues of $ 629.9 million , an increase of 64.1 % . • Grew capital markets revenues by 248.9 % to $ 184.8 million . 1 The receipt of shares from Nasdaq , Inc. ( " Nasdaq " ) is also referred to as the " Earn - out " . For additional information about Newmark's receipt of Nasdaq shares and related monetization transactions ( the " Nasdaq Forwards " ) , which are a component of other income , see the sections of the Company's most recent SEC filings on Form 10 - Q or Form 10 - K titled " Nasdaq Monetization Transactions " and " Exchangeable Preferred Partnership Units and Forward Contract " , as well as any updates regarding these topics in subsequent SEC filings . Unless otherwise stated , any discussion with respect to the second quarter of 2021 Earn - out contained herein is based on the amount of shares received , net of the settlement of the Nasdaq Forward , and on the price as of the market close on June 30 , 2021 . 2 U.S. Generally Accepted Accounting Principles is referred to as " GAAP " . The revenues shown above are only under GAAP . The Impact of Nasdaq and the 2021 Equity Event are defined and discussed below under " Discussion of Financial Results " . Terms such as " GAAP income before income taxes and noncontrolling interests " and " GAAP net income ( loss ) for fully diluted shares " may be used interchangeably with terms such as " GAAP pre - tax earnings " and " GAAP post - tax earnings " . See the sections of this document including " Non - GAAP Financial Measures " , " Adjusted Earnings Defined " , " Reconciliation of GAAP Net Income Available to Common Stockholders to Adjusted Earnings Before Noncontrolling Interests and Taxes and GAAP Fully Diluted EPS to Post - Tax Adjusted EPS " , " Fully diluted weighted - average share count for GAAP and Adjusted Earnings " , " Adjusted EBITDA Defined " , and " Reconciliation of GAAP Net Income to Adjusted EBITDA " , including any footnotes to these sections , for the complete and updated definitions of these non - GAAP terms and how , when and why management uses them , as well as for the differences between results under GAAP and non - GAAP for the periods discussed herein . Year - over - year decreases in losses are shown as positive changes in the financial tables . NEWMARK 1