v3.25.1
Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended
Mar. 31, 2025
Mar. 31, 2024
Interest Income (Expense) Including Unrealized Gains and Losses $ 9,211 $ 9,848
Principal transactions and other income (loss) (15,730) (18,389)
Total revenues 28,740 18,564
Operating expenses    
Compensation and benefits 21,666 14,839
Business development, occupancy, equipment 1,829 1,441
Subscriptions, clearing, and execution 2,174 2,086
Professional fee and other operating 2,792 3,449
Depreciation and amortization 172 124
Total operating expenses 28,633 21,939
Operating income (loss) 107 (3,375)
Non-operating income (expense)    
Interest expense, net (1,448) (1,666)
Income (loss) from equity method affiliates 2,418 29,045
Income (loss) before income tax expense (benefit) 1,077 24,004
Income tax expense (benefit) 139 498
Net income (loss) 938 23,506
Less: Net income (loss) attributable to the non-controlling interest [1] 782 5,213
Net income 938 23,506
Net income / (loss) attributable to Cohen & Company Inc. $ 329 $ 2,023
Net income / (loss) per common share - Basic (in dollars per share) $ 0.19 $ 1.28
Weighted average shares outstanding-basic (in shares) 1,704,510 1,581,390
Net income / (loss) per common share - Diluted (in dollars per share) [2] $ 0.19 $ 1.28
Weighted average shares outstanding-diluted (in shares) 5,808,294 5,645,086
Comprehensive income (loss):    
Net income $ 938 $ 23,506
Other comprehensive (loss) item:    
Foreign currency translation adjustments, net of tax of $0 116 (51)
Other comprehensive income (loss), net of tax of $0 116 (51)
Comprehensive income (loss) 1,054 23,455
Less: comprehensive income (loss) attributable to the non-controlling interest 691 21,447
Comprehensive income (loss) attributable to Cohen & Company Inc. 363 2,008
Non-controlling Interest of Operating LLC [Member]    
Non-operating income (expense)    
Less: Net income (loss) attributable to the non-controlling interest (173) 16,270
Cohen Co Including Noncontrolling Interest [Member]    
Non-operating income (expense)    
Net income (loss) 1,111 7,236
Net income 1,111 7,236
Comprehensive income (loss):    
Net income 1,111 7,236
Non-controlling Interest of Cohen & Co. [Member]    
Non-operating income (expense)    
Less: Net income (loss) attributable to the non-controlling interest 782 5,213
Asset Management [Member]    
Revenue from Contract with Customer, Excluding Assessed Tax 2,020 2,717
New Issue and Advisory [Member]    
Revenue from Contract with Customer, Excluding Assessed Tax $ 33,239 $ 24,388
[1] The units of membership interests in the Operating LLC (“LLC Units”) not held by Cohen & Company Inc. (that is, those held by the non-controlling interest) may be redeemed and exchanged into shares of the Company on a ten-for-one basis. The LLC Units not held by Cohen & Company Inc. are redeemable, at the member’s option at any time, for (i) cash in an amount equal to the average of the per share closing prices of the Common Stock for the ten consecutive trading days immediately preceding the date the Company receives the member’s redemption notice, or (ii) at the Company’s option, one tenth of a share of the Common Stock, subject, in each case, to appropriate adjustment upon the occurrence of an issuance of additional shares of the Common Stock as a dividend or other distribution on the outstanding Common Stock, or a further subdivision or combination of the outstanding shares of the Common Stock. These LLC Units are not included in the computation of basic earnings per share. These LLC Units enter into the computation of diluted net income (loss) per common share when the effect is not anti-dilutive using the if-converted method.
[2] All potentially dilutive securities were included in the diluted per share calculations.