v3.25.2
Consolidated Statements of Operations and Comprehensive Income (Loss) (Unaudited) - USD ($)
$ in Thousands
 3 Months Ended 6 Months Ended
Jun. 30, 2025
Jun. 30, 2024
Jun. 30, 2025
Jun. 30, 2024
Interest Income (Expense) Including Unrealized Gains and Losses $ 10,757 $ 8,798 $ 19,968 $ 18,646
Principal transactions and other income (loss) 9,535 (6,578) (6,195) (24,967)
Total revenues 59,871 10,798 88,611 29,362
Operating expenses        
Compensation and benefits 44,323 10,699 65,989 25,538
Business development, occupancy, equipment 1,988 1,591 3,817 3,032
Subscriptions, clearing, and execution 2,332 2,217 4,506 4,303
Professional Fees 3,561 2,533 6,353 5,982
Depreciation and amortization 172 125 344 249
Total operating expenses 52,376 17,165 81,009 39,104
Operating income (loss) 7,495 (6,367) 7,602 (9,742)
Non-operating income (expense)        
Interest expense, net (1,496) (1,425) (2,944) (3,091)
Gain on sale of management contracts 837 0 837 0
Income (loss) from equity method affiliates (1,437) (5,996) 981 23,049
Income (loss) before income tax expense (benefit) 5,399 (13,788) 6,476 10,216
Income tax expense (benefit) 771 (205) 910 293
Net income (loss) 4,628 (13,583) 5,566 9,923
Net income 4,628 (13,583) 5,566 9,923
Net income / (loss) attributable to Cohen & Company Inc. $ 1,408 $ (2,349) $ 1,737 $ (326)
Net income / (loss) per common share - Basic (in dollars per share) $ 0.81 $ (1.45) $ 1.01 $ (0.2)
Weighted average shares outstanding-basic (in shares) 1,740,307 1,615,902 1,722,409 1,598,646
Net income / (loss) per common share - Diluted (in dollars per share) $ 0.81 $ (1.47) $ 1 $ (0.2)
Weighted average shares outstanding-diluted (in shares) [1] 5,912,753 5,682,360 5,883,087 5,657,587
Comprehensive income (loss):        
Net income $ 4,628 $ (13,583) $ 5,566 $ 9,923
Other comprehensive (loss) item:        
Foreign currency translation adjustments, net of tax of $0 239 (15) 355 (66)
Other comprehensive income (loss), net of tax of $0 239 (15) 355 (66)
Comprehensive income (loss) 4,867 (13,598) 5,921 9,857
Less: comprehensive income (loss) attributable to the non-controlling interest 3,388 (11,245) 4,079 10,202
Comprehensive income (loss) attributable to Cohen & Company Inc. 1,479 (2,353) 1,842 (345)
Non-controlling Interest of Operating LLC [Member]        
Non-operating income (expense)        
Less: Net income (loss) attributable to the non-controlling interest (141) (5,206) (314) 11,064
Cohen Co Including Noncontrolling Interest [Member]        
Non-operating income (expense)        
Net income (loss) 4,769 (8,377) 5,880 (1,141)
Net income 4,769 (8,377) 5,880 (1,141)
Comprehensive income (loss):        
Net income 4,769 (8,377) 5,880 (1,141)
Non-controlling Interest of Cohen & Co. [Member]        
Non-operating income (expense)        
Less: Net income (loss) attributable to the non-controlling interest [2] 3,361 (6,028) 4,143 (815)
Asset Management [Member]        
Revenues 2,168 2,078 4,188 4,795
New Issue and Advisory [Member]        
Revenues $ 37,411 $ 6,500 $ 70,650 $ 30,888
[1] All potentially dilutive securities were included in the diluted per share calculations.
[2] 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.